7 Essential Points to Consider When Choosing a Profitable Niche

choosing a profitable niche
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There are hundreds of profitable niches out there and choosing one to blog about can be a bit overwhelming to beginners.

    • Should you be choosing a profitable niche you are familiar with and passionate about?
    • What if you are passionate about a minimalist lifestyle? How could you sell anything to those interested?
    • Can I be sure my niche is a profitable one?

Those are just some of the many queries that many beginners have. Choosing a profitable niche is not really that complicated. There are just a small number of criteria to meet and you will be able to find a good niche within a short period of time.

It is important that you are choosing a profitable niche that is profitable if you want your blog to be profitable too. You cannot turn a mule into a racehorse, and you cannot make a losing niche a winner.

1 – Is there money being made in your choosing a profitable niche?

This is the first and most important point to consider when choosing a profitable niche. For example, if you’re planning to blog about model airplanes, your first step will be to do a Google search for your main keywords and see if there are other bloggers in the niche and if they’re selling or promoting products. If you see competition, that is a good sign there is money to be made.

Second, you will need to verify if there are products to sell in your niche. In this case, it could be model airplane kits, magazines, acrylic paints, miniatures, etc. The more products you recommend and sell, the better, and the more variations the product has, the bigger the chances that it is a profitable niche.

Third, you should check and see if the products in the niche are really selling well. There are some niches with products that do not sell well. Visit Amazon.com and search for the popular products highest-rated ones in your niche.

Look at a few reviews and you will get an idea of the amount of product being sold, and you can determine the profitability and viability of the niche.

2 – Do the niche and its products solve problems?

In general, if the niche is based on solving a pressing problem, you can assume that it will be profitable. The ‘make money online’ niche and sub-niches are very profitable because millions out there NEED more money in their lives.

The ‘get your ex-partner back’ niche is quite popular because done wrong spouses are in some emotional pain and will do anything to mend their broken hearts.

The same applies to the health and wellness niche. The health and wellness niche is the most popular niche out there. Because when one is in discomfort and not feeling well or happy about themselves, they will pay to end their pain and discomfort. Think weight loss, migraines, back pain, teeth whitening, etc. Or exercise, diet, yoga, supplements, etc. These are very profitable niches because many people have problems that need solving.

Self-improvement is huge as well. Many people are looking for spiritual uplift via prayer and meditation. Or how about being better organized, being focused, working at home effectively (big now due to pandemic), time management.

Also, self-publishing and low content material are popular now. Look at journals, planners, checklists, calendars, 10000word fiction, colouring books, and so on.

So, you can see that choosing a profitable niche is not as hard as it may seem.

3 – Is the niche a sub-niche of a bigger market?

Ideally, you should choose a niche that is a sub-niche of a larger market. For example, picking a niche such as ‘Mediterranean diet for weight loss’ will allow you to niche down and dominate the niche, and after that, you still have room to expand.

You can promote fitness programs such as yoga courses, resistance training programs, etc. The people who want to lose weight with diets will also be interested in exercise.

So, your blog has room to grow in the future. A micro-niche might be easy to dominate but will not have the potential for growth. So, stick with a sub-niche.

choosing a profitable niche

4 – Pricing

The price of the products you will be promoting and selling will indicate potential profitability. The higher the prices of the products in your niche, the more money you will make from sales and commissions.

Look for 50 percent plus commissions from affiliate programs or product subscriptions.

5 – Keyword competition

When choosing a profitable niche, it is a good idea to do some keyword research and analyse the competition. Using a keyword tool such as Ahrefs will give you an understanding of what is out there and whether you can compete with the competitors.

If there are many keyword opportunities and the items mentioned in my earlier points are met, this may be a profitable niche. If authority sites are dominating the search rankings, you probably want to dig down further or just find another niche.

6 – Trend

It would be good to check on the trending of the niche. Some niches fads that crash fast once that fad passes. Think about Pokémon Go for example. There was a massive demand for some time and now nothing. Choosing a profitable niche that’s stable, evergreen, and if possible is trending upwards.

7- Can you provide traffic?

Lastly, are you able to find your target audience? This is quite important because you will need to provide traffic to your blog. If you cannot find your audience or they do not hang out online, you will have a major problem.

Verify if there are other sites, forums, Facebook groups, Pinterest boards, Instagram accounts, YouTube channels, etc. focusing on your niche. These are all possible channels to get traffic from in the future.

Are there other blogs advertising in your niche?

If you see other companies that advertise for products in your niche, that is a good sign that you can reach an audience. Just pay attention to the life of the ad. Some ads are here today and gone the next because the advertisers are losing money. So, you will want to look for some winning ads that are standing the test of time.

These 7 criteria are simple enough to verify and will give you an excellent idea if the niche you are looking at is worth getting into. Once you have determined the profitability of the niche, you will just need to get started and keep on going forward. Do not hesitate and analyse for too long. Action is the key to success. Action is the key to choosing a profitable niche.

“If you want to learn to swim, jump into the water.” – Bruce Lee

[avatar user=”mike” size=”thumbnail” align=”” link=”file”]Mike Gaudreau is the owner of The Wealthy Boomers, a site devoted to helping seniors make money online. Mike resides in Montreal Canada.[/avatar]

You should assume the owner of this website has an affiliate relationship and/or another material connection, to any suppliers of goods and services that may be discussed here and may be compensated for showing advertisements or recommending products or services, or linking to the supplier’s website.

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