The Solopreneur Life | Passive Income | Home Business
When Estimating the Profitability of a Niche, Answer These 9 Questions
Larry Keltto • March 17, 2014
I f you’re considering one or more niches and your passion and skills for them is equal, then the tiebreaker is profitability.
To begin to understand the profitability of a niche, answer these questions:
• What specific products/services would customers buy from you?
• What’s the dollar amount of the average sale?
• Would there be recurring/repeat business?
• How long is the sales cycle?
• What are the sales and marketing costs?
• How competitive are the niches?
• Are the niches growing, shrinking, or maintaining?
• How long would it take to become profitable?
• How much of a financial investment would be required to reach profitability?
When you answer these questions, a portrait of a niche’s profitability will emerge.
Free Newsletter "Get the Latest Solopreneur Tips and Advice"
Sign Up Now!
Learning how to create passive income with no money is not easy... It's taken me years and a lot of trial and error to figure it out. But first, I should probably define passive income...
Learn all about niche marketing along with taking a look at different niche marketing examples...
This is The Solopreneur Life’s “Featured Solopreneur,” the purpose of which is to give all of us a glimpse at how other solopreneurs operate their small businesses. This week we meet Rob Place. If you would like to be the “Featured Solopreneur,” please send me an e-mail. Name of solopreneur: Rob Place Name of […]
This is The Solopreneur Life’s “Featured Soloist,” the purpose of which is to give all of us a glimpse at how other solopreneurs operate their small businesses. Today we meet Monique Y. Wells. If you would like to be the “Featured Soloist,” please send me an e-mail. Name of solopreneur: Monique Y. Wells Name […]
This is The Solopreneur Life’s “Featured Solopreneur,” the purpose of which is to give all of us a glimpse at how other solopreneurs operate their small businesses. This week we meet Burton Kelso. If you would like to be the “Featured Solopreneur,” please send me an e-mail. Name of solopreneur: Burton Kelso Name of […]
This is The Solopreneur Life’s “Featured Solopreneur,” the purpose of which is to give all of us a glimpse at how other solopreneurs operate their small businesses. Today we meet Nea Joy Justice. If you would like to be the “Featured Solopreneur,” please send me an e-mail. Name of solopreneur: Nea Joy Justice Name […]
This is The Solopreneur Life’s “Featured Solopreneur,” the purpose of which is to give all of us a glimpse at how other solopreneurs operate their small businesses. This week we meet Shauna Washington. If you would like to be the “Featured Solopreneur,” please send me an e-mail. Name of solopreneur: Shauna Washington – The […]
This is The Solopreneur Life’s “Featured Solopreneur,” the purpose of which is to give all of us a glimpse at how other solopreneurs operate their small businesses. Today we meet Derek Peterson. If you would like to be the “Featured Solopreneur,” please send me an e-mail. Name of solopreneur: Derek Peterson, International Child/Youth Advocate […]
This is The Solopreneur Life’s “Featured Solopreneur,” the purpose of which is to give all of us a glimpse at how other solopreneurs operate their small businesses. Today we meet Kent J. McDonald. If you would like to be the “Featured Solopreneur,” please send me an e-mail. Name of solopreneur: Kent J. McDonald Name […]