5 Profitable Niches You Can Take to the Bank

If you were to survey 10 (or even 100) aspiring entrepreneurs interested in starting an online business, what do you think would be their #1 burning question?

Well, there might be a few that come to mind. But from our experience, one of the most common questions is: How do I pick the right niche for my online business?

In a recent post, we unpacked three useful strategies for discovering your niche market.

Today I want to share with you five proven and profitable niches to consider for your online business. But first, it’s super important that you clearly understand the concepts of “Micro-Niching” and “Niche-Combining”.

The Power of Micro-Niching (or Niching Down)

Ever heard of a Matryoshka Doll (commonly referred to a Babushka Doll)? This wooden doll set is a big hit with kids as you open up one doll inside another and they keep getting smaller and smaller until you have 8 or so dolls of decreasing size.

Well, this doll perfectly illustrates the concept of “Micro-Niching”.

As you may know, the field of “health and wellness” is a massive multi-billion dollar market, but it would be virtually impossible to enter that market with a general “health and wellness” product as you would be competing against big players with big budgets. The key with Micro-Niching is to drill down to smaller niches where you might have a better opportunity to find success.

You might take a niche like tennis and drill down to focus on “Mixed Doubles”. Or you might look at a topic like parenting and niche down to focus on “Parenting Pre-Teen Girls”.

Interestingly enough, as you niche down, the price that you can charge often goes up!

The Art of Niche Combining

Another effective strategy can be combining a couple profitable niches into a killer business.

For example: you might combine “teaching piano” with “making money” and create a product that teaches piano teachers “How to Build a Profitable Music Studio”. Or you might combine “moms” and “fitness” to create “10 Minute Fitness Videos for Busy Moms”.

Combining niches is a perfect way to uncover profitable businesses by tapping into two or more proven markets.

5 Profitable Niches for Your Online Business

Okay, so let’s break down the five most profitable niches on the web today:

1. Health and Wellness

  • Feeling better
  • Health prevention and cures
  • Aging
  • Dieting and losing weight
  • Healthy eating
  • Stress reduction

2. Relationships

  • Dating
  • Marriage
  • Parenting
  • Family
  • Intimacy
  • Conflict resolution

3. Money

  • Managing money
  • Keeping money
  • Investing
  • Real estate

4. Hobbies

  • Tennis (how to serve, how to be a great doubles player)
  • Guitar and other instruments
  • Scuba diving
  • Mountain biking
  • Scrapbooking
  • Golf
  • Dogs
  • The list here is endless…

5 Personal Development

  • Leadership development
  • Self esteem
  • Motivation
  • Career development
  • Life coaching
  • Spirituality

Again, the key is to look at your interests and passions and incorporate the principles of “Micro-Niching” and “Niche Combining” and see if you can’t identify a solid niche that you can build a serious business around.

Any other profitable niches you would add to this list?

The Jeff Walker Team

1 Response to 5 Profitable Niches You Can Take to the Bank

  1. Lilo on June 21, 2013

    Just wanted to take the time to thank you for this tips, this may be the beginning of my new beginning.
    I will remember you all the way to my success.
    Thank you for your kick.

    Lilo

    Reply

Leave a Reply

Your email address will not be published.