The best free tools for market research are http://inventory.overture.com for keyword variations and search volume. And then use the google adwords tool to tell you more about competition and more about search volume. Then you just need to search google yourself using the keywords and find if there is a lot of competition.
Aim for markets with under 200,000 competitiors. Brush up on your seo skills and learn some ppc tactics and you should be ready to go. You can always outsource your product creation and website creation. Don't forget to only look for markets where people spend money, try to make a demographic of the typical person in that niche.
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