What is Niche Market Websites?
These websites are usually small and focus on a specific vertical market. Another example is a website dedicated to fly fishing, which I will show you in other articles.
The website will be focused on one topic only and will not include any other information. Your site visitors will be able to tell that you are the expert in this subject area and they will want to return for more information.
In my fly fishing example, I will show him how to fly fish, tell him where to go fly fishing and sell him the equipment. Then, I’ll give him a place where he can brag about the fish that he caught.
What Are Multiple Revenue Streams?
This concept has been around for some time under various terms. It is income that comes to you from various sources and efforts. Multiple streams of income can be linked to one another, complement each other and pick up where others are falling.
An example of a different income stream is a second job. Another example of a new revenue stream is a commission added to a salary. Multiple revenue streams can be created if you have all three.
A niche market website is not supposed to be a source of wealth
I don’t suggest that you quit your job to make enough money selling fly fishing lures to retire young. You won’t hear me preach the idea that you can make a lot of money with one niche market website. I don’t believe that the average person can be so successful by only one site.
This is the same as someone who opens a convenience or fast food store. This is also unlikely to result in them achieving wealth. This is why convenience stores and fast food chains exist.
Make your niche and then get pregnant
Create your website by identifying your niche. Make your website SEO-friendly, make it easy to use search engines, and you will attract a lot of people. Your site should be profitable. Then, you can get pregnant. Multiply your efforts and you will have a liter of niche-market websites. After you have finished the first liter, you can do it again.
For some time, a close friend and colleague of mine has been following our business closely. He would ask me repeatedly if my website could support our lives without us having to work outside of the house. He continued to look at our first website as a single source for income.
You should have seen his expression when he understood the concept that there were multiple revenue streams for niche market websites. It was a relief to see him sitting down once he understood the concept 안전놀이터.
I explained to him that we weren’t looking to retire from one site. We were not going to invest all our efforts in one site, and then be satisfied with its success. We were founded on multiple income streams. Multiple websites provide a stable income throughout the market cycles.
Our first website was built with a lot of hard work. Our first website was built using our shopping cart platform, our templates, and our add-on module. Our company was established, along with our bank account, sales tax account, and credit card processing accounts. We also set up our accounting system, order processing, and our accounting system. The rest of the sites we created were more copy-paste than custom made.
Each site was much easier than the previous one. It took us over a month to create our first site. We were finally happy with it. It took us only a few days from conception to launching the site.
Do the math
Let’s suppose we make $10,000 per month. Is it possible to make this with just one niche market website? We would need to receive 500 orders per month, or 16 orders each day, in order to make an average $20 profit per sale. It is possible, but the effort and risks are high and the site is vulnerable to market cycles. We don’t think that putting our entire lives into this site’s success is sound financial planning.
Let’s assume that 10 niche websites make $1,000 per month. Math shows that this is also $10,000 per month. We would need to place less than 2 orders per day at an average $20 per order. This is possible? Although the effort is still very high, we now have 10 locations that are more protected from the risk of market fluctuations and are less susceptible to them.
Let’s take this one step further and say that 20 websites make $500 per month. This works out to $10,000 per month. We would need to place less than one order per site each day at an average $20 profit per sale. All in all, we would only need 25 orders per site each month. This is possible? Absolutely!
It is still a lot of work. It will take time to maintain these sites and market them. If you were successful with the first site, you will be able to replicate your efforts on subsequent sites.
Because we now have 20 sites, the risks are significantly reduced. While it is possible for a site’s performance to suffer, it is very probable that other sites will pick up the pieces.
It is unlikely that all 20 sites will be in the same sales valley. It is unlikely that it will happen. You can have niche markets that are strong during holiday seasons, and those that are stable no matter what season.
Multiple Revenue Streams are the Safe Bet
Don’t gamble with your income. Choose the safe route with multiple income streams. You can’t let your family down by being dependent on one source of income, regardless of whether you’re in business for yourself or in the workforce. Multiple income streams will protect you and your family.
You should seriously consider the many opportunities offered by multiple websites if you’re in the Internet business. You can create a network of websites that work together, provide steady income and grow together with proper planning.