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Opinions needed: Profitable niche Vs non-profitable

by Vanessa Reece
8 replies
Hi Guys and Gals,

I have a meeting tomorrow with some potential clients who have asked if I can help them with their business.

All good you may think but as I've been researching their business niche I'm coming to the conclusion it's not the most profitable one.

Without going into lots of detail it's targeted at schools (scripts and music) and knowing schools in the UK have a super strict budget for -well just about everything now - I'm not seeing how this business could make any money.

I could suggest widening their target market or switching up their niche.

Aside from a compete site overhaul which is desperately needed I'm trying to think outside the box of how to approach this initial consultation meeting.

And of course you've guessed it - they don't have the funds to do very much at all - which is not surprising to me due to their niche and how they've been marketing it so far. They are ranked but back in the abyss somewhere.

Any ideas?

Look forward to your responses.

Thanks,

V
#needed #niche #nonprofitable #opinions #profitable
  • Profile picture of the author Digital Traffic
    Be more than happy to donate an hour or so of outside-the-box thinking for you. If you wish.

    Just pm me some more details about your client, or post them here.
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  • Profile picture of the author SubUrbanHype
    If its not very profitable you can consider to do the work for less ($50-100 a month), something you think they can manage if you feel like you need the clients to make some quick cash. You are in a position to potentially change their business and make it profitable, unless it is beyond the point where better marketing can save it.
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    • Profile picture of the author Vanessa Reece
      @Digital Traffic Thanks so much. I've so far out their site through woo so they can see in detail exactly what needs to be done for the site - I think at this point I need to go into the meeting and listen to where they're at and where they want to be.

      Once I know that I think I can come back here if I need to. Thank you so much for offering some time to me. I do appreciate that.

      @SubUrbanHype I like that idea in terms of costing. I think they need a huge overhaul but as I've just said to DT I need to go in with an open mind and open ears and see how much they really want to turn this around after I've given them a few basic facts on their marketing.
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      • Profile picture of the author Vanessa Reece
        I should just learn to shut my cake hole and just wait.

        The meeting went well. I ended up closing the deal which actually was totally un-intentional (it's not like it wasn't welcomed - but I thought they'd want to go through the 'process')

        I went in judging on some data I'd seen that this niche was not profitable - apparently, according to the business owners (a couple), it went down hill due to heads of schools cutting their own budgets and not the government and new ruling has come out that in effect of next year means that schools must use all their budget or lose it. So the forecast in this niche will be more affluent once more.

        Their site though is 10 years old - badly coded and doesn't work on Chrome or firefox.

        They're actually wanting to sell the business with five potential buyers lined up and they feel they would get more money for it if they switched up the site etc. I agree. When they told me their turnover I nearly spat my coffee out. As in: I can't believe you make that much. It's amazing what sells even with a badly coded site. So imagine the potential with a better site.

        My idea was to go in with the view to change their website at least. If any one is interested I did print off their woo report and we went through that. It really helped the deal.

        I also explained the consultancy angle which they liked as well.

        It's not a long term thing - however I'd like to think this would give me some nice referrals if they are happy with everything as they are big offline networkers. They got my name via an offline network group contact.

        The big lesson I learned was don't always trust the 'We have no budget' line until you've presented your case.

        If a business wants to turn things around badly enough there is a good chance they'll find the money - which this business has - magically.

        Nice little project and outcome.

        V

        P.S Anyone else dealt with a couple who talk over one another in a meeting. I was cross eyed trying to focus on both of them hitting me with facts whilst trying to write them down. HA It was hilarious, but they are a lot of fun - so that is always a plus.
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  • Profile picture of the author SubUrbanHype
    Congrats, I love when things turn out better than expected.
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