Posted by Oze Parrot on November 2nd, 2005
You may not pursue an interest that could be considered as a profitable niche market item, if this is the case then you will need to do some research in order to find a profitable product.
In order to do some research then there has to be a subject, right.
It is difficult to glean information from the search engines unless you know what it is that you want to know about.
The first thing that you should do is spend some time at your local newsagent or bookstore and look through the magazine display.
Look for a number of articles on particular subjects or hobbies that strike a note of interest with you.
Just remember that you are looking for a market, that has a number of consumers with a disposable income that are easily reached, and has little competition.
Should a certain group have their own magazine, or there are a number of articles written about the group, then it follows that there has to be a considerable number of members that can be readily approached through the magazine.
Before you leave the bookstore check out the “How To” or “Do It Yourself” type books that may refer to any hobby that you have just noted in the magazine display.
Now that you are armed with a list of topics go to your computer and open up Ebay.
Ebay is a marvelous research tool where you can determine the demand for your selection of topics, the number of sellers for products relating to the topics and, most importantly, the price ranges.
Write down and study the results of this exercise and select one or maybe two products that you are comfortable with and conform to our niche product criteria.
The product must be in demand by enough consumers to sustain your business.
The consumers must have enough disposable income to purchase your product.
There must be a limited amount of competition.
Are there other sites selling products to this market?
Are these sites popular?
Is this market group passionate about the product.
Is it a hobby that controls their lifestyle?
Go to the search Engines and search for information on the one or two topics that you have settled on, see what kind of competition there is and decide on what course of action you should take.