I learned this from good old Frank Kern in my early twenties and it’s so easy and straight to the point that it’s almost ridiculous.
Here’s how you identify a good niche:
1) Irrationally passionate
2) Large in number
3) Easy to reach
There’s really not much more too it. Look at markets where people are already buying stuff like crazy and are irrationally passionate and driven to learn more and buy more. The beat industry was one hell of an irrationally passionate market. Other examples are survival market, dating industry, dog training, gun cleaning oil etc.
Secondly, you want to make sure your market is large in size so you can scale your business and grow in the long-run. If your market consists of two irrationally passionate people, not so good.
If you want a large piece of the cake, better make sure it’s a big cake in the first place – no glory in chasing cookie crumb markets.
And finally you want to make sure you can easily market to them.
If your market consists of indigenous South American’s that live in the jungle, probably it’s not a good idea to start a Shopify store selling bows and arrows to to indigenous South American’s, right?
Your market should be easily reachable through Facebook ads, cold emailing, Twitter, YouTube, television, radio, billboards and so forth.
I use this consistently in my drop shipping business. It gives me a terrific advantage. Yes, I may spend a little more time researching some niche, but then it’s easier to triple my revenue.
That’s it!
If you follow these three rules you should be fine. Give them a try.
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Drop Shipping Niches — Shopify Drop Shipping Tips For Niche Selection
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