So What Is A Niche Market Anyway?

This post is part 1 of The Ultimate Guide To Finding Your Profitable Niche.

So what is a niche market anyway?

Well, a niche market is a specific subset of a larger market where a customer with a set problem or problems have been identified.

Woah, don't worry....

That's not as complicated as it sounds as I'll explain now.

It's basically a topic.

And the more specific that topic the better.

So for example:

You have the weight loss industry, right?

That's a huge, multi-billion dollar, market with major players competing like Weight Watchers and Slimming World.

You as an individual do not have the resources, time, or money to compete head to head with the big weight loss companies.

Unless you're a secret millionaire, are you? In that case we should talk. 😉

But I'll assume you're not...

So you need to drill down and find a smaller sub-section within the weight loss market where there's a more level playing field or an audience not being catered to properly.

There you will find your 'niche'.

And that is much simpler than it might sound right now as I'm about to explain.

Because there are 5 areas most profitable niches fall into as covered below...

 

(If you'd like to download 1,781 profitable niches for free then click the image below...)

1781 niches [new]

 

The 5 Areas Most Profitable Niches Fall Into

There's a famous marketing quote but no one seems quite sure who first said it...

 

"Everyone wants to get paid, laid and live forever".

 

What do you think it means?

My take on it is this...

Pretty much everyone wants to be happy in the key areas of their life - finance, health, and romance.

They want a stable income and to be secure.

They want to have happy relationships and a partner(s).

They want good health, to feel good, and a long life.

So the point is:

If you market in a niche that provides some or all of those things (money, relationships, health) then you can't really go wrong.

So anything in these 3 areas is usually good:

  1. Health & Fitness
  2. Wealth / Money
  3. Relationships & Dating

As that's something pretty much EVERYONE on the planet is interested in and spends money on.

I would take it one step further and say there's another 2 areas other profitable niches fall into.

And these 2 additional markets are:

  • Self Improvement.
  • Hobbies / Interests.

Both of these are topics which people spend money on happily.

That takes us to the 5 markets mentioned below...

 

We were shocked to find this self improvement niche was worth $1 trillion

 

So the 5 main areas are:

  1. Health & Fitness
  2. Wealth / Money
  3. Relationships & Dating
  4. Self Improvement
  5. Hobbies, Interests & Activities

Almost every profitable niche falls into 1 or more of these categories.

And some of niches overlap into more than 1.

Let's look at some example niches from the big 5 profit industries below...

 

Examples From The Big 5 Profit Industries

Here are some examples of niches within the big 5 profit industries...

1. Health & Fitness:

And those can all be drilled down further to find more specific niches...

  • Bodybuilding for skinny guys who want to get ripped to attract women.
  • Weight Loss for post pregnant women.
  • Insomnia for recovering drug addicts who can't sleep due to withdraws.
  • Recipes for type 2 diabetics over 50 who are at risk of death.
  • Natural remedies for genital warts for guys too embarrassed to see their doctor.

 

We covered the profitable diabetic niche in this report

 

2. Wealth & Money:

And those can all be dug deeper into again to find more targeted niches...

  • Forex for home traders beginner with a limited budget.
  • Affiliate marketing for stay at home mums who don't have time for a 9 to 5.
  • Paid surveys for students who want to earn whilst they study.
  • Amazon FBA for international sellers on a limited budget.
  • Finding a job for former military who want to get back into the job market.

 

The hugely profitable Amazon FBA niche report

 

3. Self Improvement

And you can see some examples here of more specific niches...

  • Confidence improvement for men in their 20s wanting to get a girlfriend.
  • Learning Spanish for men looking to retire in Spain.
  • Procrastination Avoidance for career women looking to start a new business.
  • Stress Management for busy business people with high blood pressure.
  • Public Speaking for authors going on their first book signing tour.

 

4. Relationships & Dating

  • Finding A Girlfriend
  • Being A Better Parent
  • Adoption
  • Pick Up Artistry
  • Pets (yep, owning a pet is part relationship)

And yet again these can be drilled down further into specific niches:

  • Finding a girlfriend, through online dating, when you're shy.
  • Being a better parent for your kids after a messy divorce.
  • Adopting troubled teenagers who can't find other parents.
  • Learning how to meet new women in day time situations.
  • Becoming a new French Bulldog owner for the first time.

 

The Natural Dog Food Niche is popular as we found in this report

 

5. Hobbies & Interest

And you guessed it by now, right?

These can all be drilled down into more targeted niches:

  • Survivalism for single mothers who want to be prepared for their families sake.
  • Golf for beginner senior men looking to get fit.
  • Learning HTML coding for women looking to get a job in the tech-industry.
  • Bikram Yoga for over 50 women looking to get fit and socialise.
  • Model Trains for fathers looking to bond over a common activity with their son.

Are you beginning to get the idea here?

The cool thing is there's a simple formula for all this that I share below...

 

This Survival Site makes $1 million per month as we found in our case study

 

 

The Formula For Finding Niches

In most cases you can find these specific niches by taking a topic then drilling down into a sub-topic.

Then you find a specific person to market to.

The formula is most often like this...

 

Industry > Market > Specific Person > Reason

E.g. Health > Diabetes > Over 50 Men > At Risk of Losing A Leg

 

You'll see this formula applies to most of the niches we discussed above.

There are always exceptions to every rule.

And do you know why it's important to 'niche down'?

Let's discuss that quickly here...

 

We explained how to find sub-niches in this post pictured above.

 

Why You Need To 'Niche Down'

The further you can 'niche down', the more specific and the more targeted to a type of person the higher chance of your success.

Trying to market to everyone and anyone (e.g. weight loss for every sex, age and condition) leads to not really focusing one one specific type of persons issues and missing the mark.

I mean if you were a 50 year old man, recently divorced, and looking to get back into the dating game would you want to take advice from a guy in his 20's who's never been in your situation?

Or would you prefer advice tailored at divorced men over 50 from someone who understands your situation?

If you were a women looking to get back into shape after pregnancy.

Would you prefer advice from a mum of 2 who looked great or an overweight 25 year old guy?

People want specific advice tailored to their situation.

Even better if it's coming from someone with the same experience as them.

If you just put out generic content and advice designed to appeal to everyone you end up appealing to no one.

As people will think "this advice isn't aimed at me" .

Let's briefly wrap this chapter up...

 

(If you'd like to download 1,781 profitable niches for free then click the image below...)

1781 niches [new]

 

Wrapping This Chapter Up

You know what...

99% of websites are generic and broad and try to appeal to everyone and anyone who will listen.

So there ends up being so much noise and samey websites offering little value.

If you go super niche your audience gets smaller.

But there's not so many other people competing directly for your specific audiences attention.

So you instantly become the go to guy or girl in that niche.

And think of it this way...

You only need 500 people a month to spend $10 and you've already made $5,000 in income.

That's a very conservative estimate of customers.

You could get 500 people to spend money easily if you go into a specific niche like we've discussed here.

Almost ANY market has going to have at least 10 times that no matter how specific it is.

You'll have a much better chance of getting 500 people to part with $10 if you're giving them super specific advice tailored directly at them.

Then 500 random visitors who only see generic advice they don't think applies to them.

Do you see why it's better to go niche than be general now?

That should give you a good idea as to what a niche is and how to start the process of looking for one.

Now click through to chapter 2 to quickly get more of an idea of what makes a good niche market...

 

GO TO CHAPTER 2 OF THE ULTIMATE GUIDE TO FINDING A NICHE MARKET >>>>