I'm thinking of starting a blog/magazine around a topic but I don't see many competitors which concerns me.
I want to start an online magazine reviewing products in a niche. When I go on to Google Keyword Planner I see there are 10k-100k searches a month in the area, and opportunities to branch out in similar areas, but I don't see a ton of competitors.
I don't want to waste years building something only to find that the niche isn't a good one to be in and I should have picked something else.
The answer is highly dependent on you.
I run two highly profitable businesses + I'm just starting a third.
The keyphrase I targeted in biz #1 had zero traffic. I single handedly created the topic + related niche. Today there are 3M+ related links.
With biz #2 there's not even a front facing (public website). Last year's profit for this business was 2400%. All referrals come from talks I give at private masterminds.
With biz #3, search volume is 100/month (low) + first usage of this keyphrase was 1954 + the domain I own is an exact phrase match + holds SERP #1 for target keyphrase + many related keyphrases, with zero content on the site.
My approach is simple.
Never compete.
I take a keyphrase which can easily be dropped in conversation, which intrigues + then speak a few places about the top... okay, specific, highly target places to speak... which then creates traffic around a keyphrase.
This may seem like a lot of work.
If you choose a topic where you have high expertise + interest, which you talk/write about daily, then this entire process becomes a zero work proposition.
Rather than work, you simply monetize your current areas of expertise.
