The Learning Outcome for this page is:
- To be able to identitify potentially lucrative niches
Before you can build a website, you need to decide what it will be about. Will it be about beauty products, toys, cars etc? You may have some ideas about what would make a good website but before you take the plunge you need to make sure that you won’t be wasting your time.
The questions that you will need to ask yourself include:
- Is there a money to be made in this niche?
- Do I have a realistic chance of competing in this niche?
- How much initial and ongoing work will I need to do?
Let’s take a look at each of them.
Is there money to be made in this niche?
Perhaps the simplest way to get an idea of if there is money to be made in a particular niche is by performing a Google search for related keywords and seeing if the top ranking websites are being monetized. Then you need to make a note of how they are being monetized. Is it by display ads, affiliate products or are they selling their own products?
However, just because a website has a monetization method, that doesn’t mean that it is definitely making money. So we need to look into other methods.