If you have spent some time online finding ways and means to earn money, you would undoubtedly have come across something called Niche Sites.
What are Niche Sites?
Niche Sites are usually relatively small websites (micro sites) with a small number of pages, dedicated to a highly specialised topic or subject. This may or may not be a subject of your interest, some people create niche sites after researching statistical site visits (This can be done on Google Keyword Planner).
Topics range from as popular as ‘How to Knit’ to as obscure as ‘Remote Sensing’.
The main idea behind niche sites is essential to build a relatively small website and then monetise it so that it will start earning an income as soon as possible.
Types of Niche Sites
Niche sites can be broadly divided in to two main categories Product niche sites and Informational niche sites.
Product Niche Sites
Product niche sites focus on specific products, for example Tablets for Kids (which incidentally at the time of writing is not yet something done – so an available idea).
In a product niche site, you would provide information on the product and share your thoughts, opinions or expertise on the products.
Over time, as traffic to your site increases, you would very likely be contacted and given products to review, adding indirectly to your income.
Informational Niche Sites
Informational niche sites focus on providing specific information. For example Pat Flynn’s Security Guard Training HQ provides details and information on how to get started as a security guard, with details, lists and direct links to companies providing security guard training.
How to Monetise a Niche Site
Monetising a niche site is not much different to monetising a blog.
Typically the first methods of magnetising tends to be with advertising space on a the website. Read our post on earning from advertising.
Where is available or possible, you may even be able to find affiliates with whom to partner with on your niche site. Read more about Affiliates here.
While advertising and affiliate marketing tends to be the two most common ways of monetising a website, niche sites, where applicable also offer the opportunity to create Directory listings (in which, a small recurring fee could be charged for inclusion in to the Directory).
The other possibility, again depending on what the focus or subject of your Niche Site, a Job Board is also a possible addition on to your niche site, in which case, a small fee may be charged for jobs to be posted on to your site.
Some Pros and Cons of Building Niche Sites
Building a Niche Site is not something that is considered by the average person and yet it seems to have proven itself time and time again as a potential source of income that does not require too much constant work. It is usually worked on by the more technically-savvy, however, that said, once you have the experience of launching one website, launching another is fairly straightforward.
Still as with everything there are always Pros and Cons to consider, here is a quick shortlist.
Pros of Building Niche Sites
Building a niche site is a fairly quick process as it is more focus and has more defined structures.
Fast returns (relatively)
Being able to launch a website quickly, also means that it will be quicker to see the financial returns on that website.
Exciting – short term, adrenaline-based project
One of the great things about building niche sites is because of how small and tightly focused the topics are, there are specific end-points which can be factored in to the website build. This means that, a niche site, usually has an end point, perhaps not a final definitive one, as like with all sites it will need some monitoring and updating, but an end-point none the less, that is easier to reach.
Cons of Building Niche Sites
Requires technical knowledge
The ability to build a niche site on your own requires a certain amount of technical knowledge and know-how. This might be a barrier to starting, however, as we mentioned earlier, once you have built one website, building another is a fairly similar straightforward process.
Lacks passion and/or focus
One of the core beliefs we have here at ColourMyIncome is that projects work best, in fact work magically, when it is a topic or subject that we are, each in our own way, enamoured and passionate about.
That’s not to say that a niche site, may not be something that you are not passionate about, but typically niche sites are statistically researched to offer the best return rates.
The main driving factor behind niche sites is always financially motivated.
Although one of the pros of building a niche site is that it is relatively fast and easy to build, unless you are in the business of building niche sites, it is in reality a distraction from what your focus should be on.
That said if it is something that complements or supports your current ideas, then it does make it a good time investment.
Pat Flynn, most well-known for his take on living on a Passive Income shares some real gems in this post here.
If this is something that really interests and excites you, check out Niche Site Duel.
Over to you
Have you built a niche site or niche sites? What are your thoughts on niche sites?
Do you have some exciting ideas that could work on the niche site format?