A great way to think about a niche you may get involved with is to write your thoughts down on paper first. It is sometimes easier to think things through when you see them listed in front of you. You want to do this before you start to research niches.
You can then compile all these topics, which should include what you are passionate about, and several other niche ideas. There is a great tool that Google lets anyone use called the Google keyword search tool. It is a helpful tool to help you narrow your niche search. It also shows you in columns, how many people searched for the exact topic globally each month. You would type in the keyword or niche idea you have, and then there are between 30-300 keywords, which relate to your keyword phrase.
Google has lots of tools, but this one I would highly recommend because it will help you narrow down your niche search. It is also a free tool, which is always a great thing. Anytime you start up a business, there are going to be a few costs that you will have to incur. Start-up businesses online are thousands of dollars cheaper than an offline business. If you are a great marketer, you may be able to target millions of people in a short span of time. The cost for this is low considering the target audience you will reach.
After using the keyword tool for a few niche ideas, you will then type those keyword phrases into the google.com box. There will be a number usually in the thousands to tens of thousands. This number under that box is vital to your business. This is the number of competitors online for that same niche you are researching.
You must realize that online business owners have been doing their research too. This niche is successful because of the work down beforehand to make certain it would succeed. There is also a site called spyfu that allows you to check on business owners that are doing well. You can see what they pay per click to have their site in a high SEO position to get a lot of traffic to their site ..
In summary, you must write down niche ideas you are considering. The global monthly searches and competition has to be analyzed along with the competition. If you have done the proper research needed, you will be successful online. There is plenty of space on the world wide web for another huge success story.