Question

Topic: Strategy

Finding A Niche Market

Posted by Anonymous on 7/1/2005 at 12:10 AM ET 125 Points
I've been researching various online business opportunities. There are so many products and services available to sell online that I don't know what would be the most profitable. I need help finding a niche market to target, then I can figure out what products/services to sell to them. Does anyone have any suggestions on niche markets to target or resources that will help me find one?
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RESPONSES

  • Posted by Chris Blackman on 7/1/2005 at 12:22 AM Member
    Wait, let me make sure I understand this:

    You want someone to tell you:

    1. What market to address?
    2. What products to sell them?
    3. Which ones are the most profitable?

    Have I understod the question correctly?

    ChrisB
  • Posted by ReadCopy on 7/1/2005 at 5:32 AM Member
    I love this question! Seems a little disjointed to me too .... surely you have a skill you could exploit?
  • Posted by Chris Blackman on 7/2/2005 at 11:05 PM Accepted
    This is probably one of the more challenging questions on KHE in recent times.

    How to help you?

    1. Tell us what interests you. If you can make your passion into your work, it will be more enjoyable.

    2. Tell us where you plan to base your business. (Aside from on the internet) because there may be logistical issues associated with the supply chain and outbound logistics for the profitable niche you choose to exploit for fun and profit.

    3. Tell us what skills you have, e.g. have you ever run a business before? No point in directing you toward something outside your experience-set

    4. If your budget is small, have you thought through how you will set up your online shop for whatever it is? And how you will buy stock? Roughly how much IS your budget?

    Come back with some answers and the ever-helpful team will do what they can to get you on your way to a lifetime of health, wealth and happiness.

    ChrisB



  • Posted by AmSam on 7/6/2005 at 8:14 AM Accepted
    Dear Jepldp,

    I have gone through your question & comment, and all the answers.
    What I understand by your question is, you are so excited and interested in involving in "some kind of" e-busness, and you are not sure about it. (Am I right?)

    So, for a person with a small budget, with general skills, I would reccomend you to start with affiliating with an established web business.

    By affiliating with some one, will require you to generate sales leads for them, and you'll be paid an agreed upon commission for each sale originated from you.

    Secondly, I would reccomend you to stay in a service business, rather than a physical product, so that the resource requirement will be minimum.

    Travel is a fastest growing online service, and there are so many giant companies offering affiliate programs for selling Air Line tickets, Holiday Packages, Car Rentals and Hotel Rooms.

    All you have to do is create a good web site (Optimised for search engines) and lead traffic to the parent site. If one of the visitors buy something on the parent site, you'll be paid a commission.

    here's an example of such a business https://travel.hotels-and-discounts.com

    They are affiliating with www.hotels.com

    Hope this is helpful



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