“You need to find a niche.”
You have probably heard this phrase from me many, many times. And you’re sick of hearing it, because finding a profitable niche becomes more and more difficult and problematic as there are probably ten times more online businesses nowadays compared to say 10 years ago.
From the emails I receive from my blog readers I know that finding that perfect niche is one of the most difficult tasks for people who are just starting online. In many cases it’s because people simply struggle to think out of the box and can’t see anything beyond the usual phone accessories, designer clothing and video games.
But do you REALLY need to find a niche to make money on eBay?
That’s what I’m going to try and answer in today’s blog post.
What is a Niche?
For those of you who are new to the whole “selling online” game, let me explain how we use the term “niche”. You can probably find dozens of various definitions online but to put it simply:
“A niche based business is a business selling a specific product or group of products, targeting a specific customer profile”.
It simply means that you don’t sell EVERYTHING (like Amazon) but concentrate on specific product categories (possibly even single products) or customer profiles.
Just to give you some examples of typical niche businesses:
- BigDug.co.uk (sells warehouse equipment)
- NaturesBest.co.uk (sells supplements & vitamins)
- SwanFlight.com (sells DJ/professional sound & light equipment and cases)
- CamLab.co.uk (sells laboratory equipment & supplies)
- SportsDirect.com (sells clothing & sports/fitness equipment)
These are all classic examples of niche businesses. These companies sell a specific range of products targeting a specific customer profile. You won’t find video games on Big Dug’s website or designer clothing on CamLab.co.uk [Read more…]