Title: Niche Selection For Online Shops

Hello,

Niche selection is one of the most critical elements of setting up a profitable
business, whether it’s online or a traditional brick-and-mortar store.

If you think about it, even Sam Walton selected a niche and filled it when
he started Walmart all those years ago. He wanted to provide inexpensive
merchandise to the average individual. He saw a market and gave them what
they wanted. And it worked in a very big way.

But not everyone is going to explode into a multi-billion dollar 
mega-corporation in just a few decades in a relatively broad market like Walmart.

Most people need to choose a tighter niche, and the tighter, the better.

Selecting a niche is crucial. You need to choose a market that has a large
number of people who are interested in the niche, but ideally not that much
competition.

Although competition isn’t such a huge factor, because there are ways to set
yourself out from the competition, it’s always a good idea to choose a niche
with the lowest amount of competition you can find, because it will make your
job a bit easier.

Demand is more important. It’s critical to find a niche with a good sized 
market and plenty of hungry buyers.

What’s even more important is choosing a niche you’re interested in. Unless
you are just passionate about business in general, you’re going to get
bored and frustrated quickly if you choose a niche that doesn’t interest you.

To avoid burnout, choose a niche that excited you if you can. Almost everyone
has a few hobbies and interests that are in a profitable market.

So what makes a profitable market?

In order to be profitable, a niche must have:

* A large potential buyer base

* Buyers who either need or passionately want the product

* A potential for repeat buyers

* Products that can be sourced cheaply enough to be profitable

This is another reason you want to choose a niche with less competition. 
Competition lowers prices, which reduces profitability. The more sellers there
are in a market, the lower prices are likely to be, which is a lose-lose 
proposition for everyone except buyers.

Tomorrow we’ll dive a little further into niche research, and you’ll find out
a few ways to locate potential niches and research their profit potential.

Don’t miss it!

Until then, 

{YOUR NAME HERE}

PS- Choosing the right niche is a little complex, but it’s not hard. Find out
how easy it can be tomorrow!
