First, go to the Yahoo website and choose Search Marketing under Yahoo Advertising Solutions. Scroll down to and click on Sponsored Search. You will see a section that says “How many searches can your business get? ” where you will type in the main keyword of your decided niche. This will bring up a list a of words that have your niche subject in them and tell you how many people searched for that particular word the previous month.
To get an idea of what the competition is like, take each word that had a substantial amount of searches and input it into the Yahoo search engine using parenthesis. This will give you a good idea of how many people search for a particular keyword and how many sites you will be in competition with for the top spots on the first two pages.
This will of course take a lot more time than a paid software program and it may not give you all of the great ideas that a program might. On the other hand, it will be free and give you extra funds for other parts of your website.
If you can do this for free on your own, search engine optimize your site on your own, and write your own content, then the only thing you will have to spend money on is a website URL and web hosting. This is a great idea for those who have little to no start up cash, a lot of time on their hands, are quick learners, and can wait for the profits to start coming in ( which will pretty much be pure profit ).
However, if you prefer to go the easy route and utilize a keyword generating software program, you can find many online. Some are more popular than others and have been a proven way for people to dig up valuable keywords for their niche sites.