So you want to start an online business and make money from home.
You are sick and tired of working for the man and having a job.
Well before you can start your online business you need to pick a niche.
A niche or what some people call a niche market is basically a sub-market of an overall market.
So for example. “Dog training french bulldogs” would be considered a niche market because it’s a sub-market of the overall dog training market.
But picking a niche isn’t enough.
Since your goal of building an online business is to generate revenue you need to pick a niche where tons of money are exchanging hands between buyers and sellers.
The health niche is a perfect example of a profitable niche because millions of people spend money on books,courses,coaching and health supplements so they can improve their health,live longer and feel better.
Here Are 5 Niche Markets To Build a Business Around
1 – Cryptocurrency
Crypto is one of the most popular niches in the investing space. The most popular cryptocurrency Bitcoin has a market cap close to $590 billion dollars!
There is a lot of money to be made in the crypto niche and I don’t see things dying down any time soon.
A few excellent crypto sub-niches to build a business around would be blockchain technology,NFTs,crypto news,crypto trading and crypto app reviews.
Here are 21+ crypto niches that are blowing up in 2023.
2 – Fitness and Weight Loss
This is what you call an “evergreen” niche because people will always be looking for ways to lose weight,get in shape and improve their health.
The fitness and weight loss niche isn’t one of those popular and trending niches that’s here today and gone tomorrow.
The highest selling category on the Clickbank marketplace is fitness and weight loss.
3 – Internet Marketing/Digital Marketing
According to Marketingcharts.com,total digital marketing spend in 2021 was $436 billion versus offline advertising at $196 billion.
Businesses small and large spend tons of money on internet marketing related software tools,training and courses so they can generate more traffic,leads and sales with their online marketing.
There are hundreds of lucrative sub-niches in the internet marketing niche.
Here are a few of my favorites:
-SEO
-Copywriting
-Email Marketing
-Blogging/Content Marketing
-Funnels
-Lead Generation
-Social Media Marketing
-Paid Advertising (YouTube Ads,Google Ads,Instagram Ads)
4 – Personal Development
Also known as self help,this is a really big niche online.
People will spend big money on books,events and personalized coaching so they can get help with their personal development.
I like Brian Tracy’s definition of personal development which is the process of improving oneself through conscious habits and activities.
Here are few other personal development/self help topics:
-Goal setting
-Mindset
-Time Management
-Career
-Health
-Wealth
-Relationships
-Happiness
-Spirituality
5 – Personal Finance
People are willing to spend a lot of money on books and courses to learn the latest investment strategies,how to manage their finances and fund their retirements.
There are thousands of YouTube channels and blogs devoted to the topic of personal finance but don’t be intimidated by the competiton.
A highly competitive niche usually means there is a lot of profit potential.
Doesn’t matter if the market is up or down people are always looking for ways to make more money.
Here are a few personal finance ideas:
-Money Management
-Budgeting
-Investing
-Money Saving Tips
-Getting out of debt
-Stocks and Bonds
-Real Estate Investing
-Day Trading
-Forex
-Retirement
-Credit Cards
Tools for Niche Market Research
Semrush – I do almost all of my keyword research with this tool. The paid version is the best keyword research tool on the market.
With this keyword tool you can get important keyword data like cost per click (so you can check for commerciality),search volume,competition and search intent.
Amazon – This is a nifty market research tool if you are looking for the hottest selling products on Amazon.com by category. Great tool to have in your arsenal.
Google Trends – This is a great tool if you are looking for niches/topics that are trending in the news.
Conclusion:
Well there you go. 5 niche markets to build an online business around.
It’s important to have some clarity on what market you want to serve.
You want to start an online business and make money so you need to pick a profitable niche.
Build a business around an evergreen niche that has withstood the test of time and not a trendy niche that might not be here 5 years from now.
