Before you start designing a product to sell, you should know the niche to target, and the need you want to help them solve. Few Steps to help you create you’re your niche product from scratch:

Steps to Create Your Own Niche Product

 

  1. When designing your product make it clear enough for people to know how it is different from the others and how to use it. Explain your product in one sentence. Practice it until you get it right.

 

  1. Design a premium product and charge more than your competitors.

 

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  1. Your product may not be more than $200 in order to sell it quickly and no less than $50 depending on how you package it.

 

  1. When you charge more, you sell less, deal with quality customers, and you have high profits. Set yourself apart from the competition by setting your price high. Believe in yourself. Believe you have a quality product worth selling at a higher price as you did a lot of work to bring it to the market.

 

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  1. Aim for a profit 8 to 10 times higher than the cost. A product that costs you $10 might sell between $80 and $100. A product that costs you $12.50 might sell between $100 and $125. Don’t produce a product that could cost you too much money that you may not earn a high margin on or might risk losing money.

 

  1. Manufacture a product that takes 1-2 weeks to produce. When dealing with the manufacturer, it is a good question to ask.

 

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  1. Contact contract manufacturers for your type of products. You can use Thomas (https://www.thomasnet.com/) to find a contract manufacturer or google it. Ask for the pricing on 100, 500, 1000, and 5000 units. Ask if they dropship otherwise, visit Worldwide Brand at https://www.worldwidebrands.com/ to locate manufacturers that would dropship for you.

 

 

  1. Design an online FAQ sheet to address any possible questions a customer might have later.

 

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  1. Hire a mechanical engineer or web designer from a freelance site like Fiverr.com, or vWorker.com to design your prototype and send it to the manufacturer.

 

Once you know you selected your target niche and design your niche product, look for the manufacturer that would help you bring your product to life and to our customers’ hand.

 

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