In this Niche Idea Series, we’ve discussed some of product research steps that you can do on any product before you try to sell it online. We showcased some research on Camping Chairs to see if they would be a viable market for online sellers. Today, we’re bringing all of the research together to review the Sell Niches Summary Sheet to see if this niche is worth considering!
In the previous Newsletter we went over some of the parts of competition research. We briefly discussed why you should always expect to see competition for ANY product and that the goal with competition research isn’t to find a product that no one else is selling, but rather, make sure YOU can actually compete with the current sellers., In this week Edition we’re bringing it all together and taking a look at our Overall Research Summary.
Let’s look at a few things we found…
Can you find a Supplier?
Before you begin researching a product you need to make certain you can actually find a Supplier willing to work with you as a new online seller and *especially* if you need the Supplier to drop ship for you. Always remember, just because you may see a product being sold online it does NOT mean the Supplier for that product is willing to work with new sellers or even drop ship. So take the time to make sure you can get a good Supplier.
We found a Supplier for various Camping Chairs and began our research. We started by opening a new Sell Niches Research Sheet to so that we could just enter the information we needed to into the fields and let the Research Sheet do the rest. After adding all of the relevant Supplier and Wholesale information the Sheet compiled the information into a quick summary and held the information for us as we continued your research…
Can you find Customers?
Another important part of your research (that you can do BEFORE you try to sell that product) is look at that products actual demand online. Estimating a products demand online involves more than simply doing a keyword search for the product name. You need to build a strong keyword list. When done properly, doing focused “niche” demand research will provide you with a wealth of insights into that products actual customer base including customer base size, current advertising costs for that product and even the best keywords to focus on when building your site! If you end up selling that product, your demand research will be invaluable to your new online business in a number of ways.
We clicked on the “Keyword Research” tab along the bottom of the Sell Niches Research Sheet and entered in a number of really strong keywords we found for Camping Chairs. When we completed, the Research Sheet compiled the information into a clean list and calculated totals for us. This information was automatically used in our Overall Summary below.
Where should you sell it online?
In the Sell Niches Bundle, you’ll learn exactly how to focus on just the *critical* parts of product research so that you don’t have to spend a whole lot of time gathering information that (from a product standpoint) isn’t that relevant. We streamline your competition research into ‘just the important stuff’ so that when you’re done you’ll have a good indication of how competitive that product market is currently online.
We clicked on the “Competition Research” tab along the bottom of the Sell Niches Research Sheet and started researching current sellers online. The Sheet allows you to enter research on multiple sellers from up to 3 different markets online. We researched Bing, Google and Yahoo for this niche example but it could have just as easily been Google, Amazon and Bing or etc. Once we gathered the critical research from our competitors, the Sell Niches Research Sheet compiled the information for us and displayed a chart showing us the average prices and gives an indication of which would be the best marketplace to start selling.
Quick Summary (At-a-Glance)
The Sell Niches Bundle walks you, step-by-step through tutorials and research methods to fully research products and find out a wealth of information about them, using just the internet. Included in the Sell Niches Bundle are Sell Niches Research Sheets which we have used throughout this Newsletter Series. These Research Sheets not only make organizing your research much easier, but they also automatically calculate important research areas for you and display that information in clean Summary Sheets like the one seen here for this niche example.
When we take a look at our research summary for Camping Chairs we were very pleased to see some positive results. For starters, there is profit to be made. With some products, you won’t see any profit margins so when you start seeing products with a reasonable profit margins it’s a product to really consider. As you can see in the Monthly Gross estimate (which is NOT a guarantee but rather a quick glance of what kind of income you could generate if you were making steady sales) you can see that making steady sales on this chair could generate thousands of dollars of income a month. Couple that with a strong niche demand online and some very cheap advertising costs for some of the keywords it really makes this a niche to consider for new online sellers.
Important: We DO NOT recommend simply picking a product we showcase in our Niche Idea Series and selling it without researching it again on your own. We don’t cover everything you need to gather for your niche research in this Series, we simply showcased a few key areas to give you an idea of what you can uncover when you take the time to research BEFORE you sell a product online.
When you do your own niche product research, the information you collect is so useful as you move forward selling that product. The keyword lists you create can be used, not just to estimate demand, but to really hone in on the customers you want to attract. The research you gather can be used later on as you build your online store, advertise and so much more! You can do all of this for FREE using just the internet. That way, before you jump in head first with selling online, you can make sure the products you’ve chosen to sell are going to be perfect for your new online store or listings.
You can get you’re very own Sell Niches Research Sheets (like the ones we use in this Series) and step-by-step Tutorials on how to do ALL of your niche product research in your copy of the Sell Niches Bundle.
In the next Newsletter we’re showcasing a new product niche example! How do you break into a more competitive market? Niche research is the answer. We want to see if there’s any way to tap into a niche within the home décor ‘dining’ market. Spoiler alert, there is! Tune in for the next newsletter to see how we use the Sell Niches Bundle to find this next potential niche. See you then!