Overview Of Business Model
This business is a fun online pursuit because you can utilize your own interests and knowledge for the benefit of others. Enthusiasts all over the world use the Web to locate information and tips on how to tackle household projects by themselves. Another advantage to this business is the wide variety of topics you may consult onâ€”everything from how to install three-prong electric sockets to gardening tips. Revenue can come from advertisers who are looking to target the do-it-yourselfers, such as Home Depot, Loweâ€™s, and Canadian Tire.
Obviously, being handy is a must for the operator of this business. Competent writing skills, Web publishing know-how, and basic digital imaging will be necessary to run the Web site.
Cost To Start This Business
The start-up cost of this business is minimal. A ballpark range is $2,000 to $5,000. You will need a Web site, hosting, and a solid business plan.
Number Of Employees Needed To Start
To begin, only one employee is needed. If the demand for more tips and areas of interest increases, then you may want to hire a part-time do-it-yourself assistant to help in updating the Web site and continuing to market the site online and to potential advertisers.
The international potential is immediate and is probably governed by household type and climate. If the tips are translated into other major languages, your international potential increases. There are online translators who charge by the word to assist you, should you decide to try it.
E-Business Model/Payment Processing Method
To begin, the revenue will probably come from advertisers that want to target your niche market. The budget-sensitive consumer is savvy on the Internet and knows how to find a deal. Contacting the suppliers with the lowest prices overall is a good idea. Stay away from the higher end.
Important Business Issues To Be Addressed
An important thing to note in this business is that your site will have to balance the look and feel between professional and amateur because the browsers will want to feel as though you are doing the projects yourself. Therefore, you have to remain sensitive to budget, the tools you use, and so on. You must make sure not to alienate your target market, which will be looking to save money. This market may include a large number of women.
Online Marketing Techniques
- Organic search engine placement.
- Reciprocal linking with related do-it-yourself Web sites and other related-content Web sites.
- Get linked from online do-it-yourself directories.
- Provide articles for publishing in e-zines that focus on homemaking and hobbies.
- Develop an opt-in mail list to provide a regular newsletter filled with do-it-yourself tips.
Additional income could possibly come from participation in affiliate programs of suppliers that sell products to the do-it-yourself market. You can sell sponsorship and banner advertising opportunities on your mail list.