I scaled my dropshipping store to over $600,000/month within 8 months with 0 eCom experience.
Read on to see how I go about niche selection.
[Creating a High Ticket Store - THREAD 2 of 10]
Picking an Excellent Niche 🧵
Read on to see how I go about niche selection.
[Creating a High Ticket Store - THREAD 2 of 10]
Picking an Excellent Niche 🧵
1️⃣ Contrary to belief, you should focus on profitable suppliers (not niches).
Certain niches will have a higher proportion of profitable suppliers than others, but at the end of the day, finding excellent suppliers is most important.
To find good suppliers [...]
Certain niches will have a higher proportion of profitable suppliers than others, but at the end of the day, finding excellent suppliers is most important.
To find good suppliers [...]
I recommend starting in a broad category, and niching down once you strike gold.
To get some ideas for higher-level categories:
(i) Browse department store categories such as Home Depot;
(ii) When you are out, keep an eye out for expensive items in your community;
To get some ideas for higher-level categories:
(i) Browse department store categories such as Home Depot;
(ii) When you are out, keep an eye out for expensive items in your community;
2️⃣ Next, pick a higher-level niche with many subcategories to begin your research; 2 examples include:
“Home Heat” - fireplaces, fire pits, saunas, furnaces, wood stoves, chimneys, etc..
“Fitness”: home strength training, cardio, commercial fitness, pilates, etc.
“Home Heat” - fireplaces, fire pits, saunas, furnaces, wood stoves, chimneys, etc..
“Fitness”: home strength training, cardio, commercial fitness, pilates, etc.
*Important*: Remember that passion for your niche is irrelevant; your passion should be about building a business that provides you financial freedom.
Focus on choosing what you gives you the best chance to do that based on your research
Focus on choosing what you gives you the best chance to do that based on your research
3️⃣ Once you have settled upon a higher-level category, you will create a spreadsheet.
List all conceivable “product types” in the left-hand column of the sheet with rows for “Demand” and “Seasonality”.
Do not be lazy with this; think of everything you possibly can.
List all conceivable “product types” in the left-hand column of the sheet with rows for “Demand” and “Seasonality”.
Do not be lazy with this; think of everything you possibly can.
4️⃣ Next, fill out the column for demand using a KW Research Tool such as AHREFS, Semrush, or Ubersuggest (free searches).
Type in the product type in singular format, “Treadmill”, for example, and fill in the number.
(Anything above 30K is considered high)
Type in the product type in singular format, “Treadmill”, for example, and fill in the number.
(Anything above 30K is considered high)
5️⃣ Next, we will head over to Google Trends and similarly type in the product type in the singular format “Treadmill”.
Set the region to the United States (or wherever you are) for the last 5 years, and analyze the search trends:
Set the region to the United States (or wherever you are) for the last 5 years, and analyze the search trends:
The graph above looks reasonably consistent other than a spike during COVID.
We want to avoid seasonality across your entire broader category.
See below for a "seasonal" product type:
We want to avoid seasonality across your entire broader category.
See below for a "seasonal" product type:
Your Google Sheet should now look like this for Treadmills.
6️⃣ Complete the columns for the remainder of the sub-categories that you have entered in your sheet:
6️⃣ Complete the columns for the remainder of the sub-categories that you have entered in your sheet:
We are looking for product types with consistent demand above 30K which are non-seasonal.
NBD if there are a couple of seasonal items, but avoid choosing a category that is seasonal across the board (Backyard products for example).
NBD if there are a couple of seasonal items, but avoid choosing a category that is seasonal across the board (Backyard products for example).
This is part 2 of 10: next up is creating your initial supplier list.
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Coaching:
invictadigital.io
Sub to my Youtube Channel: youtube.com
My IG: instagram.com
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