105+ Profitable Niche Ideas for 2020 (List Based On Trending …

Now that we’ve covered 105 profitable niches, let’s narrow down those options into the best niche to earn long-term benefits and profit. 

Step 1: Find the lane where your passion burns bright
The reason for passion being the first step is because it’s easier to build a niche around something you love or what you’re passionate about. 

If you’re passionate about yoga, you understand your audience through how yoga relates to their experiences and beliefs. 

You know what content works best for the market of yoga enthusiasts. 

As a starting point, choose at least 5 niches you feel passionate about and use these as a guide throughout the next steps.

Step 2: Do Research on the Niche Market Value

Knowing the niche market value will help your decision-making process and offer clarity in moving forward with the niche or not. 

The sports industry hits $75 billion for market value so it’s a good indication of how this will perform as a niche. 

Use Google Ads External keyword tool to give you the approximate Cost per Click (CPC), local search trends, and local monthly searches. It’s valuable information you can use to determine how well your niche will perform. 

Step 3: Use Google Trends
The objective of using Google Trends is for finding stability in your niche. 

If you notice the pattern is highly irregular or seasonal, it can be a challenge to create evergreen content. This doesn’t mean it isn’t profitable, however. Just that it becomes much harder on your part. 

Consistent trends are usually common in generic searches such as sports, health, etc. but it also means more competition. 

Step 4: Identify A Problem To Solve In Your Niche Market
Ultimately, people buy products or services that transform their lifestyle in some way either by improving their current situation or by alleviating pain from their life.

Every niche carries a problem and, with it, a solution.

If you understand the problem your audience faces and present a solution for them, this will help your direction when creating your niche business or any niche ideas that come along. 

Step 5: Use Amazon Bestsellers to Find What Products to Promote & Sell 
Amazon carries a million of data stored, free to access, and ready at any time in their Bestsellers list.

Look for how sellable each product is and the reviews. Higher sales with great reviews mean profit. 

This process is also fairly straightforward since all the categories are labeled and sorted out for you already. 

Aim for at least 3 to 5-star ratings for the quality of the product. The number of user ratings also tells you how popular the product is among consumers.

Step 6: Make Use of Website Flipping Services
Use Flippa as a source for a better understanding of site traffic and how different niche websites profit per month. 

This tool is extremely helpful and gives you more insight on how to manage your site and earn a profit. 

There are a ton of filters you can use to narrow your search and gauge site performance.

After you have set your filters, a list of sites will appear on the right side of your screen. When you click on a site, you will see this: 

Step 7: Research on Your Competition
Even with all the tools at your disposal, never forget this step. 

Some niches may be less competitive but they still exist and for good reason.

The advantage of understanding and learning from your competition is to identify gaps or missing information they left out. 

If a competitor left out valuable information that your audience desires, you can add it to your own original content. 

Be humble enough to learn how your competitors engage with their community, how they structure their content, and how they add value. 

Every piece of information you find is valuable and can be used when needed. 

Step 8: Check If There’s Any Online Advertisement Of The Niche
Online ads are a good sign of a profitable niche although it’s not the only metric to measure. 

If you don’t find any online ads when searching your queries on Google, that’s fine. 

The previous steps can give you more than adequate information on verifying your niche’s profitability.