Four High Ticket Niches To Start A Business In
Looking for high ticket business models but don’t know where to start? Here are 4 high ticket niches anyone can start a business in.
Hi Trish Davies, here and the focus for todays post is high ticket niches to start a business in. There are many different business sectors and many different business models that you can start a business in.
Ecommerce, print on demand, drop shipping and freelancing to name a few. The problem with these business models, and along with others, is that they rely on selling low ticket products and possibly services.
You may well have tried some of the business models I have mentioned. If you have then you will know that margins are low so there is very little profit. After you have taken into account your marketing costs it seems hardly worth the effort.
Also, these business models rely on you selling lots of volume, sometimes hundreds of units per month. Now for experienced marketers selling hundreds of the same item takes some doing. It is possible if you know what you are doing but if you are new to online business then the probability is you will struggle.
Therefore, many people who try these busines models only stick with them for a short period of time. Then they go looking at the next opportunity that appears in their inbox and the cycle then repeats itself.
So, what is the answer? Well in short the way to build an online business that makes profit is to sell high ticket products and services. Especially if you enter the high ticket niches I am going to share with you.
4 High Ticket Niches For You To Consider
I have established that high ticket products and services are the way forward, so what niches can you enter? Before I reveal 4 high ticket niches for you to consider I want to address something you may be thinking.
Many people think that it is hard to sell high ticket products and services. The fact is that it isn’t as long as you position your high ticket products in front of the right people.
For example, cars. You have budget car brands, and you have luxury car brands. The price range may be $10,000 – $250,000 but there is a market for both. It is a matter of building up the perceived value, what experience will the customer receive?
High ticket cars really sell themselves because of the brand recognition that has been built up. If you are selling these then you really only need a few sales per month to reach you targets.
The car salesperson selling low end cars will probably have to work harder because there is more competition in that marketplace. Plus, they will need to sell more cars because there is less profit. Therefore, you can take these principles into any business or industry. Hopefully now you can see the benefit of selling high ticket products over selling low ticket products. So here are 4 high ticket niches to consider.
High Ticket Affiliate Marketing
Now you may be wondering why I have affiliate marketing in the list of high ticket niches. Usually, people who get into affiliate marketing sign up to Clickbank and similar affiliate marketing networks and platforms.
The trouble is with these is that are full of low ticket products and services to promote. Now all successful businesses have a low entry ticket product and service, I grant you that. What they also have are high ticket products and services on the back end.
Now platforms such as Clickbank and their competitors are platforms where product vendors list their products. Those vendors tend in general to only offer commissions on their front end product or service. Basically, they are using affiliates to generate sales for customer acquisition.
Once the sale has been generated the relationship between affiliate and vendor then stops. Yes the affiliate has generated a commission but when their marketing costs are taken into account they are making nothing.
So, the answer to this is to look for independent affiliate programs which offer high ticket offers. What this means is that when an affiliate generates a sale they then earn additional commissions on future customer purchases.
If you are going to become an affiliate marketer then join programs that have additional products priced as follows.
- $1000
- $2500
- $10,000
- $20,000
Then your commissions will be between $500 – $8000 generally from what I have seen in the marketplace. A handful of commissions between those rates will give you a tidy monthly income for the same amount of work as selling a low ticket item.
Creating Your Own Digital Products
This really works along the same principles of affiliate marketing. The difference is that you are now the product vendor and not an affiliate. Therefore, when you make a sale you receive all of the retail price and all of the profits.
Here you will be creating digital courses, maybe software applications. These types of products either teach people how to do something or help business owners run their business.
I personally like the digital course creation route. Here you can create eBooks, video courses, audio courses and create memberships sites based upon your training material.
Now these products tend to be in the price range of $ 197 – $ 2997 depending on how advanced they are. The beauty of these products is that they are relatively easy to create and inexpensive to do so.
Also, you only need to do the work once which is the creation stage. Then you just need to focus on marketing but as you will receive 100% of the retail price your margins will be healthy.
Coaching & Consulting
This is a natural progression from creating online training courses. The difference here is that you have physical interaction with your clients as opposed to automated and pre-recorded material.
The physical interaction you have is either one on one or in group sessions. Here you charge a premium fee because your time is be taken up. Your time is valuable, never forget that and always charge accordingly.
I know of people who charge upwards of $1000 per hour for their time. You can do the math on that one. For more information on high ticket coaching head over to a post I have written today called High Ticket Coaching. That article is on my Build Your AU website which is designed to help you establish yourself as an online coach.
Masterminds & Events
This is the pinnacle of the high ticket niches I am sharing with you. When you organise high level masterminds and events you will be charging premium ticket prices.
I have personally attended masterminds that have cost in the region of $30,000. These are exclusive and intimate where your customers have up close and personal contact with you. Yes they may be costly to hold but what you charge far out ways the expense.
Events and seminars are equally as lucrative because although the rice is lower you can have hundreds of people attend. Even so you will be charging hundreds of dollars and usually at these events you can make special offers to increase your bottom line.
So, there are 4 high ticket niches to consider. There are ways that you can implement all of them within your business model to gain maximum profit for your business. If there is anything you want more information on then contact me here. Also subscribe to my YouTube channel where I regularly publish content to help people within the online business industry.
A life of freedom and choice
Trish Davies
Trish Davies International
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