Choosing a profitable niche is the first and important step in starting a dropshipping business. When you're entering a business in which you didn't have experience in, detailed market research is a must.
Not only for dropshipping for any business model it is an unwritten rule, right? Even when you have hands-on experience in any particular niche, it is important to ask questions to yourself as, still the niche has demand?What will be the growth in the next 5 years? And is there any replacement will come for this niche?
These outlook questions are like introspection views that every business person should have to undergo to avoid the dreadful fall. It is really important to think from all aspects.
Before we get in lets have quick look on dropshipping
Basic understanding of dropshipping:
Dropshipping is the retail or wholesale business model where the seller accepts orders from customers and sends the orders to suppliers to send the product to customers.
Sellers own a website alone which acts as a store for their dropshipping store. Their store has product information such as price, specification and features. They don’t have products in hand and they don’t produce any products.
When a customer visits their website and orders something, the store owner will forward them to a supplier who has that product. The supplier takes the shipping responsibility and sends the product to the customer directly.
Importance of selecting right niche:
Dropshipping is an easy model and starting a store might just happen in one day. But to survive for a long time it is important to pre research on the niche we want to sell.
Market analysis: In searching for niche market analysis is the first and foremost step to take. It takes some time but you will thank yourself for doing it. With the help of online market places you can see the buyer's interest in particular products.
Search popular products on that platform, see how many people are buying them and how many brands are selling them with different price ranges.
During this process don’t forget to check questions like,
- Does that product have demand? - Reason to check this question is that without demand we cannot achieve good sales. So it is important to know about the demand of the nihe and demand of the products in that niche.
- How Many people have bought them? - As said with the help of online marketplaces we know how many people have bought the products so we can know how many people showing interest in the product.
- What are all the brands selling them? - Is that product in a particular niche is pierced with huge brands and sellers? Then that’s the niche you have to be more cautious to choose. It takes time to grow but once a brand value is set then it is a good profitable niche.
- What are the price ranges on those products? - For any product there are prices that vary from low to high depending on the vendors and quality. The importance of this analysis is because you can have the rough idea of what price that you can choose and what can be the profit margin.
- Is that season oriented or demand requires all the year? - It is important to know about the needs of the product by people. Few products have demand depending on the season conditions. For example wool products are only good during the winter season.
- Is that location oriented? - Few products cannot be expanded in more than a few locations or particular locations. So when you want to expand your business it is good to know the need of the products in the particular location you are targeting.
- Who are the customers? - Few products are customer centric. For example makeup kits. The potential customers for these products are womens and like that it is good to know which customers need our products?
So considering these factors can help you great in choosing a niche. As I said it takes a lot of time to analyze all those points. To make it simple we buydropshipsite already have made pre made dropshipping stores with factors considered.
- Dropshipping zero waste stores
- Dropshipping Yoga Store
- Dropshipping Xiaomi store
- Dropshipping Wireless store
- Dropshipping wall decor store
- Dropshipping virtual reality store
- Dropshipping sportswear store
- Dropshipping beachwear store
- Dropshipping survival store
- Dropshipping solar gadgets store
- Dropshipping dog stores
- Dropshipping watch store
- Dropshipping phone accessories store
- Dropshipping pet store
- Dropshipping nail art store
- Dropshipping makeup store
- Dropshipping lingerie store
- Dropshipping leggings store
- Dropshipping kitchen appliances store
- Dropshipping kids clothing store
- Dropshipping jewellery store
- Dropshipping hair tools store
- Dropshipping hair extensions store
- Dropshipping gold jewellery store
- Dropshipping gaming store
- Dropshipping fitness store
- Dropshipping sunglass store
- Dropshipping drone store
- Dropshipping women fashion store
- Dropshipping clothing store
- Dropshipping camping gear store
- Dropshipping bags store
- Dropshipping beard store
Uniqueness of the buydropshipsite stores:
Fully customizable: All our dropshipping websites are fully customizable by clients. No need for coding knowledge.
Error free: Our dropshipping stores are being screened by multi level testing softwares to ensure error free.
SSL enabled: Buy dropshipping stores for sale and be tension free from safety concerns. Your site's payment and user login info are secured by our SSL certified stores.
Automation: The fully automated dropshipping store will forward the orders to your suppliers. You don’t have to login every time to do that.
Notification alert: Buy a dropshipping website and let the notification alert send directly to customers from your store.
Shipment tracker: The GPS is enabled with a store to track the shipment from your place.
Whatsapp: (+1) 480 637 7566