How To Find A Niche Product To Sell Online

Niche Product To Sell Online

Finding the right niche is a very important aspect for starting an online store, but the important thing to realize is that will are not looking to it in a home run, is about finding a niche or set-up a product to sell, that would make enough money to live the lifestyle that you want.

We are not trying to start the next big store or the next Amazon, facebook, google, it's about finding a niche that would allow you to work a minimum number of hours so that you can actually spend more time doing the thing that you love.


The Goal

  • The goal is to find a product that is in enough demand to meet your income requirements, 
  • The niche cannot be too competitive or too saturated either.
  • You also want to find products that are not readily available in brick and mortar stores.
One of the most questions that I do get asked is how a small niche store can actually compete against the large store, so let me just address this very quickly.

How Can A Small Store Win?


Large store has huge infrastructure and supply issues to deal with
 For example, Walmart have store all across the nation, in general, they have to ship the product to all this location, and as a result, it's not economic for them to carry a large number of goods unless there's a significant demand.
Because they have all this supply issue, they generally don't carry wide varieties of specific items.
  • Big players tend to focus on the hot mainstream products
  • It doesn't make sense for large stores to focus on the product that only applies to a smaller group of people.
What that means is this, There is tons of product out there that would make you 6-figure income, but the big store wouldn't be interested in them because it doesn't have mass world-wide.

That is why when you go shopping on Walmart, you are not going to find a huge variety of items.

If you create a niche online stores and focus on a small product, you can succeed because you can do that product category much better then some of the big stores.

My Recommended Criteria


  • The product should not be fragile and easy to ship
  • The product should not take up too much physical space for shipping reasons
  • The product's inherent value should be ambiguous
 Avoid branded products. Because when a product as a brand, it's very easy to do compelling shopping online, what that means is, no one will know what the price should be in other store.
Avoid product readily available in stores, for example, if you are already selling something that is available or target, that person will probably not buy from your store because they might just pick it up on a regular store. 
The product should be timeless and not go obsolete
 Do not sell electronics, anything that get updated very quick.

How To Find Products To Sell



The first step is to get product ideas and determine whether you can make money

There are many ways to do this. Here's what I like to do
I get product ideas from bestseller lists on 
   > eBay
   > Amazon
Once I find the good product that I really want to sell

Then I use a keyword tool like Long Tail Pro to figure out search demand and estimated revenues that I can make for selling that product or you can use google keyword planner, it works like Long Tail Pro or even better than Long Tail Pro

I use a tool called Terapeak to validate and see how these items are selling on Amazon, and by looking at sales on the Amazon platform you can get an idea how much money you can make for selling that particular item

I also went to Alibaba to see what people are actually paying for this, to determine the level of profit you can actually make.

The screenshot as seen below



Long Tail Pro

Terapeak


Alibaba

Now with all these factors, you can get an idea of whether you want to actually process with an online store.


How To Find Vendors


Within the US,
  • ReferenceUSA - You can access it free from your local library
  • Wholesale Central - A website directory of tradeshows in the US
  • Worldwide Brands - Great directory for dropshipping
For overseas vendors, you can use
  • Alibaba 
  • Go to the Canton Import Export Fair


Alright, forks, I have tried my best to break down everything step by step just to make sure you understand, and I am very sure you find this helpful, pls leave a comment if you have anything to say.

Author:

Hi, i am Micheal, the guy behind Roadtosuccesse. I share different ways to earn money online. It's possible to make money online, but as a newbie, you will start with $5/month, but as time goes on, and you follow the tips that I share on this blog, you would definitely start to make $300/month

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