 Okay, so in this video we're going to be going over the top five dropshipping niches of 2024. So what I've done is I've taken the most popular niches you hear people talking about, at least the top five niches I get asked about quite a lot. As a beginner, it can be overwhelming starting a business, especially when there's financial and time risks involved. And one of the most popular questions I get asked from people when I jump on the phone with them is, what's the best niche? Should I go into this niche? Should it be this niche? So I thought what I would do is do a video, take your top five, take you through the pros and cons from my perspective. As somebody who's been dropshipping now for seven years, I've sold in the pet niche, which is number one, which you can see on the screen now. I'll go through the others and explain my experience with those as well. So we'll get into them. Before we get into it though, I do have a mentorship program where I work with up to five people per month. It is quite an exclusive program. There is a short application process of half a dozen questions or so, so I can kind of get to know where you are and what you want to achieve realistically in the next two to three months. It allows me to kind of vet the people who are applying. For example, people who say they want to buy a Ferrari or Lamborghini in the next two months is unrealistic and I don't accept those. If it's the sort of thing you are interested in, and this is perhaps one of the first times you're watching my videos and you think I like this guy, I'm going to see what he has to say, then I'll show you at the end of the video how you can jump on a call with me and we can have that discussion. So that being said, let's jump into the pet niche. The biggest niche, most popular niche in the drop-shipping space and for good reason to be honest, I've sold in this niche for many, many years. So pros-wise the amount of products, there's pretty much unlimited products. When I'm talking about pet niche, I'm typically thinking dogs and cats. The amount of products there's dozens if not hundreds of, well there's certainly thousands of products, but when I say amount of products, I mean potential winners. There's dozens if not hundreds of potential winning products in the niche. Scalability, because of the size of the market, there's obviously scope to make a significant amount of money. I think it's like 16 million households in the UK have a pet of some, in fact I think that's just dogs in fact. I don't know what it is, cats included, it's probably higher than that. So it's a significant size of people and that's just in the UK, that's not considering obviously. The bigger beast which is the United States, this is also an evergreen niche. So what this means? So this is where people, sometimes you'll hear people or say bad things about the pet niche. Number one thing is usually, ah it's saturated, it's too competitive, but what they're forgetting is it's evergreen. So a million people a year on average, to be fair I haven't checked these numbers since COVID and COVID it went up. So it's a million people on average across the year in the UK would adopt a dog. That's potentially up to a million brand new customers. You only need a hundred thousand customers to make a lot of money. So potentially up to a million new customers every single year. So every single year there's a million people potentially that need everything. They need a bed, they need a dog bowl, they need a carry cart, they need a lead, they need all that sort of stuff. So there's always new and new people, so it's difficult for something to come truly saturated or truly too competitive when it's so evergreen like that. Number four, passion at niche. So passion is super super important, people buy of emotions not with logic. So when you can spark an emotion in somebody's, well when you can spark an emotion with somebody they're much more likely to purchase something like some of the most effective ad creatives. If you think of crown and paw where you can upload a picture of your dog and they'll produce a portrait for it. Some of their best ad creators or their best ad creators were people ripping open this thing and seeing their dog and just bursting out into laughter. But then also on the opposite end of the scale you get those necklaces to commemorate and remember loved ones. We have to look like really close into them. And they obviously spark a different emotion and emotion gets traction. It's what gets eyeballs on and what makes successful ad creatives in my opinion. Target ability as well. So I'm speaking more so from platforms, social media platforms where you can target people based on their interests. You can target specifically specific dog breeds on Facebook so I couldn't get, I was about to say easier than that or nothing's easy when it comes to business but couldn't get any straightforward in that. If you're selling a product for large dogs just target large dog owners. Like you couldn't get any easier than that. It's not like with TV advertising you don't, you can't guarantee who's going to see your ad. There's going to be a massive scope of people who see your ad. Whereas on Facebook you can eliminate the people who aren't interested in your products and just focus for example on the people who are. The last one is repeat business up sales because there's so many different range of products. If somebody's looking to buy a color they're probably going to buy lead to go with that color as well. So when it comes to lifetime customer value getting people back onto your store to buy other and similar products. It's a lot more straightforward in the pet niche for obvious reasons. There are some cons competitive because it's one of the bigger ones I'm spoken about then every man and his dog excuse the pun usually starts in the pet niche. All this means it doesn't mean that you can't be a success. All it means is you have to have higher standards. You have to advertise better than people. You have to have higher quality products. You have to have a better designed and professional looking Shopify store. Cheap products. This one is really avoidable quite easily. It's a pitfall that most people fall into when they think drop shipping as a whole. They usually think five or $10 plastic products from China. It doesn't have to be that way. There's some really nice luxurious high quality products that you can sell in pretty much any niche. So just try and stay away from those cheap cheap ass rubbish products really and demand variation. So what I mean by this is that a lot of dog products or cat products not so much cat products because dogs go outside and they have to go out. Well they do dogs have to go outside. I suppose they do really. I don't know what would happen if you had just an inside dog if that's even a thing. But dogs they get walked every single week which means they get walked in the winter. They get walked in the summer which means the winter products will be super popular and when the weather gets warmer they'll die off. So you do have to be quite savvy and have different products lined up and know what you're doing when it comes to launching a product. So you can kind of replace one with another if that makes sense. Home decor niche and this is a really good niche. Again another popular one. The size of the market has got to be the first pro. Obviously anybody who lives in a house is pretty much your target market so that's pretty much the majority of the country. Well it is the majority of the country. Pros the profit margins. Home decor niche products are usually a bit more expensive because they're made out of high quality materials or a bit of fancy pansy or they're decorative that sort of things. The profit margins are definitely better than the pet niche I would say. Product range is pretty much endless isn't it. You can get motion lights. You can get figurines. You can get lamps. You can get I mean you can drop ship furniture. You can drop ship sofas, office chairs, desks, tables, vases, flowers. It's pretty much endless and a pros obviously seasonal trends. When it comes to things like Halloween decorations, Christmas decorations, Valentine's things then demand is going to be super super high for a limited period and if you've got your business in order it allows you to capitalize on that cons target ability. This can be kind of product to product but if you're selling just like a generic ornament or something like that it can be really difficult to focus down on the people who are going to be interested in ornaments unless there's a specific interest you can target then I suppose you can target people who are interested in home design and that sort of thing but it's not as specific as say the pet niche hence why I've put it on the cons list. Lack of passion people are definitely not people are more passionate about pets than they are about an ornament or making the home look nice. I guess it's going to vary person to person but it's going to be difficult to make somebody feel passionate or spark some sort of emotion emotional response when it's selling a figurine or an ornament or some sort of lamp or something like that if you know what I mean. Shipping because they're typically heavier items or larger items or contain some sort of technology maybe electronical and then shipping can also cause some issues from time to time. This follows on into safety issues as well if you are selling anything that's like rechargeable has batteries or plugs into the mains I probably stay away from anything that plugs into the mains you limit the potential risk with battery powered stuff but anything that plugs into the mains you've got to be careful obviously who you're dealing with get the required certifications customer variability so with the pet niche when you're selling dog products every single person who buys a dog product is a dog owner and is therefore going to be applicable for any other products whereas with customer variability in the home decor niche somebody who buys this one ornament won't necessarily be interested in the next one or won't necessarily be interested in say an LED motion light so when so how do I explain this so in the pet niche everything you do compounds into one audience that are all going to be interested within reason obviously in the same products whereas in the home decor niche inside that alone there's so many different kind of mini niches that means the customer variability will be quite high so it's not going to compound as well basically so when you do release another product it's not like in a dog niche where it will apply to them because they own a dog and a dog is a dog within the home decor niche people like different styles people have different needs different whatever so customer variability means that everything doesn't compound as well I would say I would then return same reason for shipping is that larger items more likely to get damaged during transit that sort of thing can cause more headaches in my opinion than the pet niche moving on to the beauty niche then I'm going to go over this quick because I've never sold in it myself I don't take much time or attention when it comes to my own beauty so it's not it's something that interests me to be honest so I tend to stay away from the things that I don't have a personal interest or knowledge of pros besides the market it's probably one of the biggest markets in the world people are obviously super super super super passionate about it which makes it great for social media because you can take advantage of that a really nice piece of ad content people will be sharing people will be commenting tagging friends sending it to each other whatever it may be and this kind of leads on to what I just mentioned easy content super easy nowadays in most niches but I would have thought so especially in the beauty niche to contact some small-time influencers people who like to do different tutorials with the new beauty niche send them some gear ask them to film some content for you there's so many different ideas so many different possibilities when it comes to marketing which is always a good thing and then upsells too because of the range of different products if somebody is going to buy oh god I don't know some makeup they might buy some eyelashes to go with that or I don't know there's upsells and cross sales available okay cons wise competition it's obviously super super competitive market it's because of that you have to be it comes down to the content or the branding you're obviously never going to be able to compete with big-time influencers because people buy that because of who the influencer is just think of Kylie cosmetics and this kind of jumping ahead to brand loyalty when it comes to the beauty niche people tend to buy certain products because of the brands that it is because they like being part of that brand and that culture if that makes sense no profit margins beauty products are typically low margin which is obviously something to keep into consideration kitchen each another big big one so the amount of products again is pretty endless size of market it's huge anybody who has a house probably has a kitchen in the house as well which means they're probably going to be part of your target market it's something people are super passionate about as well as their kitchen it's typically the the heart of the house if that makes sense where most families will spend most of their time which makes them passionate about it they want a nice kitchen if they're cooking for their family they want to make their lives as easy as possible Pete baking is super super popular and getting more and more popular it's evergreen too there's always people coming into the niche obviously when they get their first home they might be looking for that well they probably need everything when you move into a new house you need everything from utensils to cutlery to choppers to gadgets to whatever it is so always lots and lots of new people on the lookout for those sorts of things and now obviously you have your season trends as well as a cons target ability again it's going to vary product to product but it's going to be really difficult to find somebody who is interested or has a passion for vegetable choppers so you're not going to be able to target specifically or get that close to people who are definitely looking for your product you kind of just have to target people who are interested in kitchens as a whole and then hope it lands on the right person who actually has a need and wants to buy your product profit margins typically you get a lot of like gadgety type products that are plasticky and or spatula holders or I don't know cookie cutters that sort of thing which means the profit margin is always going to be super super low so you're going to make it it's going to be really difficult to to make that work with paid advertising cons originality you tend to see the same kind of products in the kitchen niche time and time again it's not like in a dog niche a new toy can come out because there's so many different possibilities with a toy whereas in the kitchen niche a vegetable chopper is a vegetable chopper regardless of how it does it so a lot of the products are kind of same same as for passion I've put this in the cons as well because yes you can get those people who are super super passionate about their kitchens and whether they're baking or an actual cook an actual chef but at the same time it's going to be really difficult to make somebody soup have that emotional response when it comes to selling a vegetable chopper like it's not like you can put a video of a cute dog and people fall in love with it straight away it's not like you just put a video of a vegetable chopper and people are going to fall in love with it you can to a degree if you market it really really well but it's more difficult to do so yes there are some people that super super passionate but also there's some people that just won't be interested whatsoever and this kind of goes in conjunction with targetability because it's not an easy thing to do you can't really narrow down on those people who are going to be super super passionate about your product last but certainly not least we have the gadgets niche this is probably one of the biggest if not the biggest it's definitely up there with the pet niche as you can see straight away i struggled to find as many pros as i did cons for this one again i feel like the gadgets niche is one of those niches that most people go into or instantly think of when they think dropshipping because it's usually kind of poor quality products that are knockoff versions of existing big-time brands like cheap airpods or some form of tech so the pros are product variation because it's just endless there's always new gadgets coming out that do slightly different things as an endless stream of products to choose from content as well is always going to be easy because people love to watch things about tech people do youtube videos just talking about tech just talking about different gadgets so content is relatively straightforward and then obviously demand as well as massive massive market people love tech especially if it makes their life a bit easier and especially if you can save the money versus going for one of the big name brands so you can buy some apple airpod pros now for what 300 quid whatever they are or you can get something that does relatively the same thing obviously not to the same degree but probably 80% of what apple airpods do but you pay 10% of the price and there's definitely a market for that cons profit margins i've just mentioned it's usually cheapy plasticky type products that make the margins tight reputation if you fill your store full of lots of different gadgets and they're typically low quality and and cheap products then i think it can harm your reputation as a brand people instantly see you i so here in the uk they used to be a really popular gadget shop i think it was called i can't remember was it called reds or someone might be able to tell me in the comment section but they never really did well i think they've gone out of business red five when they called i can't remember but for whatever reason they just they never really took off i really got that much traction um and it's just purely down to when you're selling gadgets people they won't tend to go to one place for their gadgets because they'll go to apple for example for their earphones or they'll go to bosh for their speakers they won't go to one store if that makes sense if that makes sense so unless you are selling those actual brand names then i think you're always going to be fighting an uphill battle um originality there's a lot of gadgets that pretty much do the same thing unless you're again one of the first people to find or discover a gadget or piece of tech and to bring it onto facebook then the chances are somebody else has probably already been selling it to death as well which is going to make it more difficult to compete and more difficult to succeed and repeat business like i mentioned before gadgets because it's such a wide variation from speakers to headphones to things to drones to hoverboards to god knows what just because somebody buys one thing doesn't necessarily mean they're going to come back and buy a different thing from you as well there's no kind of like loyalty or no reason for the consumer to be loyalty to be loyal to you they have competition which i've touched on briefly already then last but not least we have quality control obviously when you're drop shipping is different cool to quality control any product however when you have gadgets when you have tech that has moving parts and pcbs and some kind of electrical component then obviously it's a lot more a lot more can go wrong with it there's a lot more moving parts involved and therefore it's going to lead to more issues versus selling say like a dog bed where a dog bed can't really go wrong and so with that being said that wraps up the video all five niches that want to go through with you today if there's any mist i'm sure i've missed out some pros and cons out of some of these niches make sure you let me know let me know which you think is the best niche and more importantly i hope i've given you some ideas or maybe answered some of the questions and queries or hesitations you've been having about certain niches before you decide to commit to one and with that being said then as promised if you are interested in a mentorship program i can help you pick a niche that has some relevance to you i can help you find a product in that niche and then launch that business up to five ten k per month in the next couple of months if that sounds the kind of kind of service and program that you're looking for then what you need to do is click this mentorship link in the video description below it'll take you to a series of questions five to six questions takes a couple of minutes it's a chance for me to get to know what your current level of experience is and what it is you're trying to achieve in the next kind of two to three months and if you have got a realistic goal and you've got a good attitude and you're proactive and you're serious about doing this then you can book a time in my calendar we'll jump on a call we'll have a chat for half an hour and see what's what if that sounds good head over there now book in your call and i'll talk to you soon cheers