- You've probably heard the idea
or the phrase that "The riches are in the niches."
So how do you pick a profitable niche,
or sometimes we pronounce it niche?
How do you niche down into something
that is going to make money
or has a very good chance of doing that?
Well today, I'm actually going to tell you
six very profitable niches for starting an online business.
I'm gonna give you real examples.
And I'm gonna tell you some of the principles
behind finding a profitable niche
that you can make money in.
So the first niche that we're going to talk about
is the creator economy niche.
This is where you're going to be servicing
an audience and customers
that are specifically content creators of some kind.
And one of the reasons that this is very profitable
is because the creator economy is something
that people are just starting to legitimize and normalize.
If you ask a lot of young people,
especially people between the ages of 18 to 25,
what they wanna do as a career,
how do they wanna make a living,
a large amount of them are gonna say
that they wanna be an online content creator or influencer.
And this is an extremely profitable niche.
And that doesn't mean you're gonna make
content about how to grow a YouTube channel
or how to blow up on TikTok,
what it does mean is you have the opportunity
to start an online business
that could actually service content creators
through things like video editing and production.
Or you could work specifically with podcasters,
and niche down specifically podcasters,
and you can be doing audio editing for them,
or making templates that help with audio presets,
or any number of things.
You can be helping with video creators
in terms of creating After Effects templates
and selling those as a digital product.
Or like I said, you could go more service based,
which could include coaching, consulting,
or handling the editing or production
of their online content.
And like I said, you could even niche down
to specific platforms like YouTube,
podcasting, or Instagram, or TikTok.
So there's a lot of variety and opportunity within this
and there are a lot of different ways
that you can use this to build a business.
The second profitable niche we're gonna talk about
is the family and lifestyle niche.
And I think if you do decide
that you're gonna become a content creator
instead of work for them,
that this could be an extremely lucrative niche
because there's gonna be a lot of opportunities
for sponsorships, affiliate marketing,
and even your own products and service
because you can actually find sub niches
within family and lifestyle to cater to.
This is also going to have a huge buying audience,
because frankly, if you have a family,
well, consumerism is par for the course here,
you're gonna be buying a lot of things
and that variety is where the opportunity lies.
And when it does come to the family and lifestyle niche
and what makes it so profitable
if you decide to become a content creator,
is the variety of sponsorships and brand deals
you'll be able to do
and it's a great way to make money.
In fact, we actually covered multiple times
on this YouTube channel the specifics
of how to get brand deals,
and even how to price and charge for your brand deals.
I'll link to those videos in the description down below.
We've also done an entire playlist on this topic.
And if you are gonna be a content creator
and have an audience, you might want to go
and look at print on demand
and merchandise that your audience wants to buy
in order to support you.
Which leads to today's sponsor, Spreadshop.
That's right, the sponsor of today's video,
if you sign up today for Spreadshop,
it's gonna cost you exactly $0 to get started.
And you can make all kinds of great merchandise
that your audience is gonna love.
They let you design your own custom shop.
And if you get to 10,000 subscribers on YouTube,
then what that means is that you get
to have your merchandise integrated
into your YouTube videos via the YouTube merch shelf,
making it much easier for your audience to buy.
But you don't need a certain amount of subscribers
and you don't need to be monetized on YouTube
to start making money by selling cool T-shirts,
hats, and other print on demand products
that your audience is gonna absolutely love.
You can sign up today for Spreadshop
with my link in the description down below.
And like I said,
it's completely free to sign up and get started.
And the best part is, when you're making money from this,
it's not gonna come out of pocket.
And if people buy, then you're going to purely make profit
and you can set your own prices.
So you can make as much profit margin as you want
and you're not gonna have to pay upfront
or any of the shipping or those fees.
It's all gonna come out of how you price your products
to make as much money as you want to for each sale.
So you can go ahead and sign up today.
Link is in the description below.
Thank you to Spreadshop for sponsoring today's video.
Speaking of profits, we have another profitable niche
that you can go into,
and that is social media marketing and management.
If you happen to be someone who knows how to code,
you can even make a software as a service
that you could sell to people
to help them with their social media accounts
and with optimizing those,
and this can be extremely lucrative,
Because software as a service means
you're making recurring revenue.
Having people sign up for a software as a service,
subscription that you get billed for monthly
is a fantastic opportunity if you have the skills
to pull it off and make a quality product.
And that's just one opportunity for you
to build a product around this,
there are other things you could do.
Most people are gonna make money by building a business
that operates as a service-based business
and has clients on retainer that pay a fixed monthly amount,
or they pay for individual services, a la carte.
So that's probably one of the most practical ways
to go into social media marketing and management.
And that's why this would be a very profitable niche,
because this is not something that broke people buy,
this is for people who already have a brand,
a business, a product or service
that they wanna make money off of.
And so they're not really
having a bunch of broke customers either.
So you can see that this is a profitable niche,
because it's dealing with a high end clientele
that has disposable income.
The fourth profitable niche that we're gonna talk about
is news and current events in terms of podcasting.
This is a profitable niche,
even though you might be skeptical
about this because of supply and demand,
and also the low barrier to entry.
And I'm not saying that you could just go out
and call yourself a journalist or become one,
but there is a market for reaction-based content
and for commentary, there absolutely is.
And you can go ahead, and you could do news and commentary,
whether it's global events like Philip DeFranco does,
or you could go much more niche,
like many people on YouTube do
and become part of a commentator community
of people who talk about news in a certain industry
or a certain subculture of the internet.
And so that is something that can be extremely lucrative.
And one of the reasons it can be
is because it allows you to create content
around multiple platforms
so you'd have multiple opportunities to monetize
whether it's YouTube or Spotify video for podcasters,
you might even be able to get your own sponsorship
and ad inserts.
You can even again, sell products directly
to your own audience once you've built that up.
So the variety of ways to monetize,
the fact that it's long form content,
and the fact that the barrier to entry
to do this would be significantly low,
it's mostly a matter of time and talent
to be able to do it,
and just the little bit of tech,
and maybe watching videos on my channel
about how to make better content
and how to grow an audience,
those things are what would allow you to go into this.
And again, it could scale to be very profitable,
because this is something that
there's not as much of, as not saturated as you think
with people that make quality content, consistent content.
And ultimately, there is a need, a want,
and a demand for alternative news,
and also news that focuses on niche specific communities
and subcultures.
So this is a great opportunity for a lot of people.
And the reason that I feel it's different than just saying,
Oh, go into the creator economy niche
is because this is a very, very specific thing.
And the way in which you monetize it,
I think is going to be what scales
because you don't have to make
what I would call sensational content
or spectacle content that requires
a high amount of investment.
The cost and investment around this
is usually one time purchases
of tech and equipment and resources.
So the overhead is low,
the margins are potentially extremely high,
the real issue is just having the talent and ability
to cultivate and build an audience
and being able to make successful content
on a consistent basis
because the type of content we're talking about here,
you basically have to do it almost daily,
you have to probably upload multiple times a week,
maybe Monday through Friday at a minimum,
and at least once a day, Monday through Friday,
that's a lot of content.
But when it comes to news and things like that,
daily or even sometimes multiple times a day
is what gets traction, what scales,
and what spreads word of mouth the most.
But when it does pick up,
it means that you have so much room
for ad placement, sponsorship, merch plugs,
and all these other opportunities.
And that's why this is one of the most profitable niches
that you could go into.
Number five out of our list of profitable niches
is online education.
And I can speak to this one personally.
Online education is a growing market,
and it's always going to be.
And there's a lot of different ways to do it.
Now a lot of people go,
"Ah, you're going to try and sell me an online course now."
And everything like that.
First of all, just because someone decides
that they are trying to sell you something,
doesn't mean you're obligated to buy it.
So you could kind of get over that one.
Sorry, truth hurts.
But here's the other thing.
There is a demand for this, and demand is growing for it
year after year after year.
And there's a lot of ways to do it
that you could be comfortable with
if you don't want to create a $500 course or what have you,
there's a lot of ways to do it.
Number one, no one says you have to make a course,
it's just practical and scalable
because selling a digital product
one time to multiple people
making a 200, 300 or $500 course,
and then having a buying audience of 1,000 people
that wanna buy into it is extraordinarily profitable
and that gets you to multiple six figures.
However, there's a not scalable way to do it,
which is the way I've been doing it for years,
which is you could do one on one coaching,
and you get to decide how much an hour
or 90 minutes of your time is worth.
You get to decide how much you want to charge
for a virtual or in-person workshop.
You get to decide what your speaker fees are
to go to events, travel, and speak on stages,
and you know, have them cover travel and expenses,
and all of those things.
you get to price yourself at what you feel your time,
your experience and your results are worth.
Like I said earlier, though,
that part is very lucrative, or it can be,
but it's not very efficient
and it doesn't scale as well as selling digital products
in the form of usually online courses.
Now if that's something that again,
you're not comfortable to do,
you can still benefit from online courses
by using things like Skillshare,
where people are not paying a $500 upfront fee
for one course from one person,
they're basically going into a subscription model,
which you could argue Skillshare
is like the Netflix of education.
If Netflix is entertainment, then Skillshare
has the same business model but for education.
And so I believe at the moment,
it's like $12 a month or something like that.
So it is, you know, comparable to a Netflix subscription,
but they get access to all of the online courses
that people have made available.
What makes this very profitable
is that Skillshare pays based on the time
someone watches your Skillshare premium course
instead of paying you per views like YouTube does,
if you do YouTube content, you did free educational content,
YouTube will pay you basically one penny per view
if you're doing education based content,
even in a profitable niche.
But on Skillshare, you stand to make
about three to eight cents per minute watched.
That's exponentially more profitable than YouTube,
the difference is, okay, so why is everyone on YouTube
instead of Skillshare is the fact that
there's a paywall before that happens for people.
And so obviously, there are more people there
on YouTube than there are
that are paying members of Skillshare.
And so the variety of ways that you stand to make money,
if you go into online education
is very lucrative, and you have a lot of things
that you could do that you would be comfortable with,
instead of just having to do it one specific way.
You can also do memberships,
that's something that I do in terms of group coaching,
and you can set something up that's $29 a month
if you think that's valuable.
A lot of fitness instructors,
they have programs that are you know, $29 a month
or $59 a month or $99 a month,
there are people in education,
they exist outside of the fitness niche
that do the same thing.
I do this with my own group coaching.
And so if you get 100 people,
they're paying $99 a month,
or $1,000 a year for the membership,
well, congratulations, your group coaching program
already is making six figures,
making about $100,000 a year at that point with 100 people.
If you have 1,000 people that buy a digital product,
let's say it's a $200 course, well, congratulations,
a 1,000 people bought a $200 product.
So you made $200,000 there.
So it's very practical to make multiple six figures
by going into the online education niche,
you can do it however you want.
You can choose different business models for it,
but it's an extremely profitable niche to be in
provided you can back up the things that you're teaching
and saying and demonstrate how you create real value.
The best part is you could teach things online for YouTube
and have that as a gateway and a funnel
for whoever wants to pay for your time,
your expertise or your products.
And so that is something that would scale you,
prove your reputation, create upfront value,
you still would make money off of the ad revenue
or even potential sponsorships and affiliate revenue,
and yet at the same time, people essentially
get the try before they buy with you.
Last but not least, one of our most profitable niches
is going to be branding and design services.
And this is the background that I come from
as a graphic designer and someone who worked
in advertising and marketing.
This was one of my primary skill sets
starting out as an adult.
And so ultimately, with all the people
who want to do online businesses,
or even start brick and mortar businesses today,
people want to build personal brands,
people want to be content creators,
you know what they all need?
They all need people to help them
with the graphic design and branding.
And most people suck at it.
If you've seen some of the thumbnails put up out on YouTube,
if you've seen some of these god awful YouTube thumbnails,
you know that branding and design
is definitely something that's going to be in demand
for a very long time and it can be extremely lucrative.
You don't have to be a starving artist
if you do it properly.
There are so many opportunities
to make money in this niche and be profitable.
One of the things that would scale
is obviously digital templates.
One of the best things you can do
is if you had a background in Adobe After Effects
and motion graphics and animation
is sell motion graphics templates.
with Adobe Premiere, you could be selling people
Mogrt files, or you can be selling After Effects files
any a number of things with regard to
things like branding, banners, thumbnails,
digital ads, you could be selling Photoshop templates
and files, you could be making money that way.
From a service standpoint,
you can be designing people's thumbnails,
designing people's books, eBooks,
I have a book coming out later this year,
I have a background design.
What I don't have is an abundance of time these days,
so I outsourced it, and I have somebody else
doing that for me, and they're getting paid very well.
So there's a ton of opportunities
for anyone who has a background in graphic design
and branding to either have recurring clients
that you, you know,
are making money from every single month.
You could set up templates and sell those individually.
You could sell a subscription membership to access
your entire library of templates.
There are so many ways to make money
in the design and branding niche
whether you have customers or clients,
whether you're selling products or services,
or productized service or a membership
is a tremendous opportunity,
and it's actually reliable in terms
of high paying potential clients.
If you enjoyed this video on profitable niches,
you might wanna watch my other video
on the profitable niches for YouTube content.
I'm gonna link that in the description down below.
Also check out my playlist
when it comes to making money online.
As always, thank you so much for watching and don't forget,
go out there and create something awesome today.
Take care.