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25 most Profitable Coaching Niches to make you rich

Fastest Growing Coaching Niches

It is estimated that the online coaching market size is expected to reach $23 billion USD by 2023, the online coaching business is one of the fastest-growing market in the world. The main question: What are the best coaching niches for online courses ? The most difficult decision in your business is to narrow down online coaching niches that make money. Weather to go with your passion or your knowledge. There is a lot of confusion in the market but striking the best niche takes some research. This blog will give you a step by step guide to go deep into niche selection and then discover your micro niche. We will then explore 25 most Profitable Coaching Niches.

“The riches are in the niches”

What is a niche?

It can be defined as the thing in which you are good at or it is your speciality. It is also a focus area where you can serve your members well. Niche is a mix of your skills you possess, your passions, and expertise, combined with a specific segment of the market that you can relate to and fully understand.

How to select my Profitable Coaching Niche?

Your profitable coaching niche is a combination of 4 elements 

Element 1: Passion

Find out things that you are passionate about, what you love to do. When friends come to you for any help, what things do you feel the most passionate and you feel confident talking about?

Element 2: Talent

This defines your knowledge, your talent about a particular topic or subject. This is what you have learned till date or experience you have gained in your job/ business. This can also be recognised by asking your friends or family, what they think your strengths are. On which topic they pick you to seek advice.

Element 3: Market

Does your coaching niche have a sizable market. Market is a specific audience who will be benefited from your product. Studying your competitors will help you refine your niche. The market should have potential to grow with time, otherwise it would be difficult to expand where competitors might’ve occupied that market segment. 

Element 4: Profit

Does your niche solve a problem that people are willing to pay for. Bigger the problem, the more money you make in your online coaching business. Simply figure out which of the things YOU can help people with. You don’t need to come up with an out of the box original idea. Finding Online Coaching Niches That Make Money is the key to success.

Can I select multiple niches?

No it is not advisable to select multiple niches when you are just starting your coaching business. It is difficult to chase 2 hens at the same moment you will tend to catch none. For example your niche is Yoga for pregnant women if you select Dating for men above 50 the audience is totally different for both the niches. It would be difficult to properly cater to both the audiences at a single go.

What is Micro Niche?

What-is-Micro-Niche

A micro niche is choosing a specific topic within a broad coaching niches to segment your audience into smaller group to achieve high conversion. It represents the blue ocean separating you from the red ocean where the major competition is there.

“Specific is Terrific”

What happens if I go wide in a niche?

A specific, segmented niche i.e micro niche helps you convert more as the audience knows exactly what they are looking for. For example, if you choose “Stock Market Investment Course” as your niche. Here your audience can be anyone, in this case, your marketing or the lead generation cost dramatically increases. You start showing your ads to everyone which leads to low conversion. If you segment your audience like you choose “Stock Market Investment Course for housewives” now this becomes very specific and this can be your Micro Niche. Your advertising cost reduces and your conversion rate increases.

If you try to sell to everybody you end up selling nobody

Advantages of selecting micro-niche

  • Powerful content: Creating content for a micro niche is easy compared to the broader topic. You are always better in specific subjects. So, having a micro niche makes it possible for you to dedicate content exclusively to this part of your niche.
  • Dominance: As you are catering a very specific audience you can create your dominance in the market. You have a brighter chance of solving people’s problems who have searched for your product or service.
  • Profitability: A person who searches for micro niches already knows what they are searching for and what problem they are facing. Your advertising efforts will be less for such persons and there will be bigger chances of them making purchases. More sales with low marketing expenses will lead to higher profits.
  • Better Engagement: Your small and specific group of people will be highly engaged with you as they know you are the only person who can solve their problems and help achieve their goals. Sending emails to them results in a higher conversion rate and better opening and click-through rates. People who look for something more specific are engaged in their searches and wish to know more about the topic you’re talking about. 

What happens if I go wide in a niche?

A specific, segmented niche i.e micro niche helps you convert more as the audience knows exactly what they are looking for. For example if you choose “Stock Market Investment Course” as your niche. Here your audience can be anyone, in this case your marketing or the lead generation cost dramatically increase. You start showing your ads to everyone which leads to low conversion. If you segment your audience like you choose “Stock Market Investment Course for housewives” now this becomes very specific and this can be your Micro Niche. Your advertising cost reduces and your conversion rate increases. 

If you try to sell to everybody you end up selling nobody

Best coaching niches for online courses

Coaching Niches are broadly divided into 5 category

  1. Wealth Creation
  2. Health & Wellness
  3. Relationship
  4. Personal Growth
  5. Hobby & Skills
Fastest Growing Coaching Niches

There are around 1500 different niches on which you can build an online course. If you desire to explore all the niches in the above 5 categories then click on below link.

1500 Online coaching niches

I have researched 25 most Profitable Coaching Niches which can make you rich. These are the Fastest-Growing Coaching Niches to build an online course in 2021.

Wealth:

  1. Wealth Building Through Investing
  2. Make Money on the Internet
  3. Make Money through Cryptocurrency 
  4. Make Money through Stocks
  5. Creating Passive Income Streams

Health & Wellness

  1. Creating A Better Relationship With Food
  2. Exercises To Lose Belly Fat
  3. Yoga for pregnant womens
  4. Losing Weight In A Sustainable Way
  5. Mantra Meditation

Relationship

  1. Improving An Existing Relationship
  2. Advice on dealing with breakups
  3. Improving sex life
  4. Effective communication (relationship counseling, managing conflicts, etc.)
  5. Dating and starting relationships

Personal Growth

  1. Getting rid of the fear of rejection
  2. Self-discovery
  3. Leadership Development
  4. Neuro linguistic programming
  5. Mindfulness

Hobby & Skills

  1. Photography 
  2. Content Writing
  3. Social Media Marketing
  4. Video editing
  5. Mobile App building

Passion, skills and market demand – these are the 3 things you always need to consider before jumping into a niche if you want to succeed.

What courses sell the most

Listed below are some of the best ready-made platforms which can help you run your online coaching business:

Conclusion

Learning has evolved from the classroom to digital platforms at a very fast rate. Online courses are now in demand and are solving problems. This industry is just on the rising stage! Choosing a niche is very important, you won’t ever be able to achieve your goals if your niche is not aligned with your passion and knowledge. There’s almost an endless option for your potential niches, taking the first step can seem incredibly daunting.

Few essential points you need to remember when you choose your profitable coaching niche:

  • Identify where your passion lies. 
  • Stick with your strengths & knowledge. 
  • Create a customer avatar to define your target audience who can consume your content.
  • Choose the right platform to create/host your online courses. A small tip preferably on your own domain so that you have full control and you do not have to share your profits.
  • Update your knowledge daily so that you can present your audience with enhanced information with time.
  • Listen to your tribe and provide great value

Online education business is here to stay….

If you wish to join my free weekend Coaching Insight session click the below link to get registered.

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Author

Himanshu

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