Well if you are already landed here, its obvious that you really want to give a shot to this “eCom” thing, right!
Frankly speaking, WHY NOT? Because Shopify has made it SO easy for anyone to have his or her online store up and running literally in minutes. There was a time when someone wants to start an online store with no technical knowledge and he used to get ripped-off by so call gurus telling him that he needs such and such hosting service, store platform and setting or maintaining staff and etc.
However, with Shopify one can build a professional looking eCom website will all required features and utilities in a really affordable price.
Now, lets talk about what are the best niches to make tons of money with Shopify, literally 6 or even 7 figures monthly sales! YES no joke…
When choosing a profitable niche you usually get advices that you should spend hours and hours on research to short list a couple and then go for the best among the bests.
Well for me its not that long process!
For me there are two basic reasons why you should select a niche on the fly instead of spending hours and hours of your precious time: –
1) Do 50 bucks mean a lot to you? I am sure for most people its nothing to have your store up and running with loads of products in $50. To break this figure into more accurate numbers, let me split it. What it actually costs to start a Shopify store? A 14 days free trial and then $29 to renew your 1st month’s subscription. A domain that cost around $14 at Shopify and Oberlo app that is completely free to add up to 500 products and fulfill 50 orders. So, $43 is all you need to test a niche.
Now come to the promotional cost. All you need is another 50 bucks to target your market on facebook and/or instagram. If you are doing it right and you get just 10 sales at $10 profit margin you already come at the breakeven point to continue scaling your ad campaigns for better profit. IF you don’t want to spend money on paid promotion, which I don’t recommend, even then you have full 14-days of trial + another 30 days of 1st month subscription to test your free methods of promotion. In this case also, if you really know how free promotion is done, then getting at least 1 sale a day won’t be a big deal, means 44 sales until you are asked to pay next month’s $29 subscription.
2) How much time it costs you? Apart from the free promotional method, how much time it costs you in setting up a niche store and running ads campaigns. I guess it should be matter of a few hrs! So, if you really want to be a successful eCom business owner, then why would you resist in testing something that requires less then hundred dollars? Person like me won’t mind testing 5 to 10 niches for 100 bucks each to find out the ones that have potential to be a 6 or 7 figures earner. Also, given the fact that you can easily be at more $100 “breakeven point”, if you have a little target marketing skills.
So, what are the 5 best niches that you can start today for finding your winner?
Please don’t get annoyed! I know if you ever tried to search for Shopify tutorial and niche selection you have definitely seen tons of “expert” articles and videos on this niche. Most of you even got sick of this niche, but the fact is its perhaps one of the easiest yet highly potential niches that you can start with. There are couple of reasons, why I am referring you to this niche?
The cost of goods is incredibly low: I mean you can literally get jewelry items from pennies to couple of bucks.
Profit margin is immensely high: You can easily resell these items on 5x or even 10x price.
Huge verity: You’ll never out of collections, every adornment such as necklaces, bracelets, rings and etc have countless unique and attractive designs.
Brandibility: As, it costs low, if your store is making handsome initial profit, you can easily order them in bulk (you save a ton), repack them in attractive branded packing like boxes or cases, and sale them on even higher margin.
Hassle free product: This perhaps is the most important point that jewelry items have very low to none returned or refund ratio. You probably won’t face issues like, wrong size & color, broken, damaged or not working product and other similar headaches.
Setting up a store and test a niche using print-on-demand model is another cool method. Besides store setup cost, this model also costs you nothing upfront. Shopify has quite of few really good print-on-demand services providers. All you just have to do is create store add the free app from appstore and start creating your products. Some people might think that you need to hire a professional graphic designer to get attractive designs, but its not the case at all. There are countless text-based designs that are sold and still selling like crazy. All you need is, to be creative and target the right audience for your text-base designs. Yon can also use different royalty free and creative common sites to get cool and attractive pics, designs, symbols and shapes.
Toys And Games
This perhaps is one of the most underdog niches, which has often been ignored by the most eCom entrepreneurs. This is an easy 6 or 7 figure niche. Do a brief research on top toy and games stores online. Most of them are at 7 figures monthly sales. There are two main reasons that pull most people off for creating online store in this niche.
a) The cost of goods is somehow higher than other products. So, you need to be very careful while choosing the vendors.
b) Products have higher chance of returns in case of any damage during shipment or any technical fault.
However, if you are able to find the right venders, those give you surety of quality products and safe shipments, then this niche is nothing less then a goldmine. As, you can easily make couple of hundred dollars profit on a single item sold.
Creating a store that caters women with children is something that is easy and has huge profitability potential. Researches have proved that women are more likely to buy things online as compare to men. And when it comes to their children they just can’t hold them in getting something they see, which is adorable and make their kids happy. You must understand the difference b/w this and the “toy and games” niche. These types of stores will have more mother’s utility related stuff. Things such as, baby shower kits, school backpacks, lunch boxes and baby carriers & carts, to name a few.
Sports Related Store
Sport is an activity that makes people so passionate about it. Testing this kind of store can either be by choosing a particular sport or a general sport store that has goods for sale related to the most popular sports. You can really scale this niche if you have set it right. Promoting these kinds of stores is comparatively easy and less expensive. You’ll see considerable hikes in sales whenever any big sports event comes. You can play with wide variety of products in a sports related store. Right from sports goods to t-shirts and caps of any particular team, posters, badges and other cool stuff.
So, to summarize things up: –
Step 1: Signup on Shopify.com for a free 14-days trial
Step 2: Get a custom domain
Step 3: Get dropshpping app from Oberlo.com
Step 4: Select a niche and import some product to your store
Step 5: Start promoting your store on facebook/instagram
These are top 5 niches which you can start right now and have your 1st eCom store up and running in no time. Break the shell and come out to show the world that you have what it takes to be a successful entrepreneur.