Do You Need a Niche to Have a Successful Money-Making Business?

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Table of Contents: 
-Intro
-Difference Between General and Niche
-General Pros and Cons
-Niche Pros and Cons
-My Advice 
-Conclusion 
(Bonus)

Are you trying to build a business when you stumble with the question: Should you start a general store or a niche store? How are they different from each other? Which one is more convenient for you? 

Once you have a general idea of both, it will be easier to decide. 

Difference Between General and a Niche 

A general store sells different theme merchandise. For example, a Walmart or dollar store will sell from kitchenware to gardening and more. Whereas a niche store has a theme. For instance, a sport shop will sell sport gear and items. Home Depot specializes on home improvement material. 

Start for free

General Pros and Cons

For a general store:

-You can add any cool items that are popular in the market

Boost up your sales a lot overnight with the right audience and marketing

-Even if it is one product, that product can give you thousands of dollars 💵

-Great for quick cash

Some downs:

Keeping up with the latest cool item in the market to keep your sales coming

Finding multiple suppliers that can sell you the same item without breaking your pocket

-it is a temporary boost meaning any time people can stop buying from you

Saturated marketing-if a customer finds a better or reliable seller to buy from, they might not buy from you

Niche Pros and Cons

A niche shop is the easy way to go when you are starting or when you have a great idea or experience. 

become successful

Pros:

-Easy Marketing 

Easy if you have knowledge of your product 

Easy to get credibility and trust from your customers 

Might be long-team if you know what item and audience you pick

Cons:

-See if the item or idea is on demand

-Might be hard to get ideas to advertise unless you are creative 

For example, you are passionate about gardening. Your shop can have gardening tools, plants, and accessories for your garden. 

Write down your ideas, plans, and other options.

My Advice 

It is important before starting a business, to test your idea. See if your item is in demand but not too crowded. If it is too in demand, you’ll have a lot of competition. Search online for competitors, the opinion of other people, investigate social platforms, and ask others for an honest feedback.

Another important factor is to think about your customers and not the numbers. Who are your targeted audience? How is your idea helping or improving their life/problem? What are their needs? How do you find them? Put yourself in your customers shoes 👞 to understand them better. 

Conclusion 

You do not need a niche store, but it would be easier, especially for a beginner. Focus on the main problem and how you will be solving it. Test your idea and build more with little steps at the time. 

If you find this article helpful, please follow and share. We thank you for your time to read and share.

Bonus

 If you’re looking into starting your own business, we have some articles that can help you start on the right page. Plus, we have a business plan template that can help you plan out your ideas.

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