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. :-)
Access Restricted: Unlock 1,000,000+ Posts
Stop Peeking Through the Keyhole.
Open the Door.
You hit a wall because the best advice isn't free—it's earned. Since 2007, MJ DeMarco has been active here daily (99.9% active rate), building a war room for entrepreneurs who refuse to settle for mediocrity.
- Active Daily: Life-changing content posted dozens of times every day. No dead threads.
- MJ's Inner Circle: Direct access to the author of The Millionaire Fastlane.
- Vetted Network: Connect with founders scaling to 7 and 8 figures.
- Proven Roadmaps: Strategy over motivation. Execution over "hustle porn."
"SCALED TO 6-FIGURE MONTHS"
"Tips and advice here saved me from huge mistakes, others allowed me to scale my business to 6-figure months."— User MitchC
"INSANE QUALITY OF PEOPLE"
"The number of high quality people I've met from this forum has been insane. All of it predicated on building real value."— User Richard Peck
"You are the average of the five people you surround yourself with."
Are you surrounding yourself with success?
