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How to Find Your Niche on eBay
Is it possible to find just
one niche market on eBay and make a living doing it? Definitely. But the
hard part is finding your niche. Here is a step by step plan to not only
finding your niche, but finding a profitable one.
Step One:
Make a list of all the possible niche markets. Ideally, these should be
areas that you are familiar with, such as hobby supplies, something you
buy or admire regularly, something you collect, or even something you
have that gut feeling that you could make a good profit selling online.
Step Two:
Start a worksheet listing five or ten items in each of those niche markets.
Choosing a mixture of hard to find (but not so hard to find that you won't
be able to find any to resell!) and best selling to get a good cross-section
of each niche market.
Step Three:
Next to each, place the price you could realisticly purchase each item
for. Don't forget to factor in shipping costs or sales taxes into this
purchase price. And since most sellers will be selling in US funds, be
sure to use a currency calculator to change your prices into US funds.
Step Four:
Begin searching completed auctions on eBay.
(You must be registered
or logged in to search completed auctions). These are the actual final
bidding (selling) prices that eBay bidders were willing to on eBay. Don't
forget to take things such as quality (is the item used or brand new?)
and location (with high shipping costs from Europe, North American sellers
will usually get higher prices for the same product).
Step Five:
Look at the results. Does one area - or even just one product - jump out
at you as being a potential huge money maker after doing your research?
If so, you may have found your niche.
Step Six:
Begin test selling your potential niche. This means, isntead of purchasing
100 to resell, you might only purchase five or ten to begin testing with,
to make sure the item is the success you believe it to be.
Step Seven:
Re-evaluate your niche. If you have found it, congratulations! If your
test wasn't as successful as you thought, start back at step one with
new potential niche markets.
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