The_Rookie
New Contributor
- Joined
- Feb 12, 2014
- Messages
- 5
Rep Bank
$50
$50
User Power: 60%
Hey everyone. I read 'The Millionaire Fastlane ' a few months back and the book really inspired me to change my life and create a business.
Since then, after looking at several 'fastlanes', I decided on Ecommerce. The thing is, I live in Canada, which is a double-edged sword. American stores have to deal with higher shipping fees/times when delivering to Canadians. That puts them at a pretty *big* disadvantage vs a Canadian store that can offer similar or even greater value. OTOH, we have a tiny population compared to the states, meaning less buyers..less profit in almost all niches. Unless it's Hockey or Maple syrup, lol.
With that in mind, I have a niche idea I'm pretty confident about, and that niche is Hydroponics (the growing of plants indoors). Here's why I chose the space:
Demand: 'Hydroponics' gets 4,400 avg. monthly searches for Canada *alone*! If I can get the site to rank high enough, there's some serious potential for traffic. There's also a handful of high volume related keywords like 'aquponics' and 'led grow lights' to rank for.
Competition: The top sites I've seen have a PageRank of around 2-4. So there's some competition in this space, but nothing impossible. I think that's bloody marvelous. Seems like folks are making money in the niche..without any monster site snatching away all the sales..(yet). A good number of those sites are also Canadian..which is encouraging.
Suppliers: Yeah, it was pretty easy to find wholesale suppliers in North America. Within 5 minutes I had several bookmarked. Going to dig deeper and see if I can go straight to the manufacturers if possible.
And that's what I based my decision on. My plan is to set up a test site on shopify or bigcommerce. Then drive some traffic there using ppc. Once I'm sure people are actually interested in buying these kinds of products, I'll move to a more powerful platform like magento (which i have some experience with).
I would add more, but this post is already a huge wall of text. Thanks for reading! Any comment/criticisms, would definitely be appreciated. Hoping to hear from some older and wiser heads, and get some much needed feedback!
And if you're still looking for a direction, like I was, hopefully this post inspires you to make your own crazy business plan!
- Rookster
Since then, after looking at several 'fastlanes', I decided on Ecommerce. The thing is, I live in Canada, which is a double-edged sword. American stores have to deal with higher shipping fees/times when delivering to Canadians. That puts them at a pretty *big* disadvantage vs a Canadian store that can offer similar or even greater value. OTOH, we have a tiny population compared to the states, meaning less buyers..less profit in almost all niches. Unless it's Hockey or Maple syrup, lol.
With that in mind, I have a niche idea I'm pretty confident about, and that niche is Hydroponics (the growing of plants indoors). Here's why I chose the space:
Demand: 'Hydroponics' gets 4,400 avg. monthly searches for Canada *alone*! If I can get the site to rank high enough, there's some serious potential for traffic. There's also a handful of high volume related keywords like 'aquponics' and 'led grow lights' to rank for.
Competition: The top sites I've seen have a PageRank of around 2-4. So there's some competition in this space, but nothing impossible. I think that's bloody marvelous. Seems like folks are making money in the niche..without any monster site snatching away all the sales..(yet). A good number of those sites are also Canadian..which is encouraging.
Suppliers: Yeah, it was pretty easy to find wholesale suppliers in North America. Within 5 minutes I had several bookmarked. Going to dig deeper and see if I can go straight to the manufacturers if possible.
And that's what I based my decision on. My plan is to set up a test site on shopify or bigcommerce. Then drive some traffic there using ppc. Once I'm sure people are actually interested in buying these kinds of products, I'll move to a more powerful platform like magento (which i have some experience with).
I would add more, but this post is already a huge wall of text. Thanks for reading! Any comment/criticisms, would definitely be appreciated. Hoping to hear from some older and wiser heads, and get some much needed feedback!
And if you're still looking for a direction, like I was, hopefully this post inspires you to make your own crazy business plan!
- Rookster
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today
