You want to start a blog or online business, but you aren’t sure what type of business to start. The best thing you can do is to look for profitable niche ideas.
That way, you can set your business up for success. Keep reading for some tips on how to find a niche that can make you a good amount of money.
But first, this post contains affiliate links. Read my full disclosure policy to learn more.
Start With Your Experience
If you’re looking for profitable niche ideas, start with your education and professional experience as well as your hobbies. Make a list of everything you know about or have some experience with.
This could be as trivial as owning a pet or as significant as working in the banking industry. We’re all complex people with multiple interests, so the first niche you think of may not be the most profitable.
After you list all of the topics that you know about, you can start to compare their profitability. Make the list on paper or in the notes app on your phone.
You could also use a spreadsheet or a tool like Trello. Then, you can go in depth and make notes about how profitable each niche could be for you.
Review Your Shopping History
Another way you can find a good niche is to take a look at some products you own. Go through your home and make note of your favorite items, especially higher-ticket products, like appliances or tech gear.
You could also go through any online courses you’ve taken. Some courses offer affiliate programs, so you could use those to make money as you start your own business.
Especially when it comes to affiliate marketing, it’s best to talk about products you own. You can share your experience, which offers more value to readers than just regurgitating what other reviews say.
Scroll Through Social Media
You can use social media to find profitable niche ideas in a couple of ways. First, see what people are complaining about, and make note of any trends.
Specifically, look for problems that you can solve so that it will be easier to launch a business or blog. I’d look in different Facebook groups and pay attention to questions to find niche ideas.
Another option is to pay attention to the sponsored posts or ads you see. If a brand is paying to advertise, they either are already profitable or they’re pretty sure they’ll become profitable.
That’s a good sign for you to take inspiration from those businesses. Now, you shouldn’t copy the businesses you see posting ads, but it can at least help you find a few ideas.
Choose a Sub-Niche
Some of the most profitable niches are also the most competitive. After all, everyone wants a bit of that profitable pie, so you have to compete with more busineses.
Fortunately, many of these niches have smaller sub-niches that you could focus on. Instead of starting a travel blog, you might start a travel blog for women interested in solo travel.
That’s a much smaller market, and you can become an expert on it. Then, people will trust what you say and the products you recommend, so you can grow your business much faster than if you just focused on travel.
Focus on an Ideal Reader
You can also take a slightly different approach to finding a profitable niche. Instead of choosing the topic first, choose the ideal reader or customer.
For example, maybe you want to work with new parents or young professionals. Think about demographics who are most willing to spend money, either on your products or on affiliate offers.
Then, you won’t have to stick to one super niche topic for your content or business. You can explore a few different interests as long as they apply to your ideal audience.
Check Google Trends
Of course, it’s one thing to have a lot of niche ideas, but you need to validate at least one of them. I’d start by checking Google Trends and searching for the niche you have in mind.
Look at the graph to see how search traffic has changed over the past year. If it’s on the decline, you probably want to choose a different niche.
I’d also pause before choosing a niche that sees seasonal ups and downs. You can turn a profit in something like the college niche, but your income will probably be very unstable.
Compare Monetization Options
The next thing to look into is how you want to make money. If you already have a full-time job or another business, you may want to go with more “passive” options, like display ads or affiliate marketing.
On the other hand, if you have the time or want to make more money per sale, a service will be best. Then, you can start to make a significant amount without needing massive amounts of traffic or followers.
I’d recommend choosing at least a couple of ways to monetize your blog or business. That way, you won’t be so reliant on one, and the other can pick up the slack, and you’ll have a greater earning potential overall.
Scan Writing Job Boards
I don’t remember where I found this idea since it’s been a while, but I can’t take credit for it. A great way to find profitable niche ideas, especially for a blog or niche site, is to check writing job boards.
Many of the job listings mention needing a writer for a specific niche. Take note of what those niches are since the people hiring for them are most likely making money with their websites.
You can start a similar blog in one of those niches. Of course, there’s never going to be a guarantee that you’ll make a profit, but there’s a reason other business owners are willing to invest in high-quality content from freelancers.
How Do You Know If a Niche Is in Demand?
Google Trends is a great tool to use to check if a niche is in demand. You can see if the topic has experienced an increase in searches over the past few months.
Be aware of trendy topics that could die off in a few months, though. But for the most part, finding niches that are growing can be a great way to help you choose your ideal niche.
What Are the Most Popular Niches?
Some of the most popular niches include finance, fitness, health, fashion, and travel. Now, just because a niche is popular doesn’t make it the best or most profitable for you.
If you want to go into any of these niches, you need to make yourself or your content stand out. That means that real-world experience can help as can choosing a sub-topic as your niche.
What Niches Are Most Profitable?
The most popular and most profitable niches have a lot of overlap and for good reason. However, that doesn’t mean these niches will be the most profitable for you.
I’d recommend choosing a niche you have experience in or that you’re at least passionate about. That will make it easier to push through the early days before you make a profit, and you can use your experience or interest to promote your new venture.
Final Thoughts
Finding profitable niche ideas can mean the difference between earning a few bucks from your blog and being able to quit your day job. There are tons of niches out there, and not all of them can earn you as much money.
Be sure you think about what you love and have experience in. Then, validate the profit potential for whatever niche you decide to focus on.
If you want more tips on how to choose a popular niche, enroll in The Instagram Marketing & Sales Academy. The first module is all about choosing the right niche, and the tips apply to more than just IG.