Reflections

One of the points where I very much see my own upcoming venture in the same light as Sanako is based on the idea of a niche market. Many major players in the online learning market have designed their product to appeal to as broad a range of customers as possible:  science students, humanities students, math students, corporate training, etc. Sanako has designed their product for a specific kind of learning - language learning. And this is where I think they will truly excel, in presenting a tailored product for a tailored audience.

 

Looking at myself and the venture I am involved in right now (and will pitch in the near future),  finding a niche market is exactly what I'm doing. The dream of JDM Cars is going insane in North America. Coupled to the popularity of The Fast and Furious movies, the prices of famous Japanese Domestic Market (JDM) cars (such as the Nissan Skyline, Toyota Supra, etc)  are skyrocketing despite supply chain issues and rising import costs. A 1995 Mazda RX-7 which 10 years ago could be purchased for under $10,000, are now typically fetching prices above $50,000.  A twenty-year-old Mk 4 Toyota Supra typically retails for prices that could  purchase two brand new 2022 Toyota Supras at $70,000 each. On the internet, there are the number of YouTube channels and sources of information to educate people about the history of JDM cars and how to import them to North America.  These channels are overwhelmingly American, with very few sources detailing how Canadians can import to Canada.

 

So clearly the market and the market, the money and the interest are there.

 

My upcoming venture theJDMdream.ca is designed to teach Canadians how to import JDM cars into to Canada.  As such, I am playing to a niche market of Canadians only.

 

One major point in my favour is that Canada and America differ on one significant point:  import laws. Canada can import Japanese cars that are 15 years  or older;  Americans have to wait till those cars are 25 years older. Therefore, our market will receive these cars 10 years earlier, therefore our customers need to be informed earlier -  allowing us to beat out the competition. And, Canadians cannot rely on American information for import.  So while this tailored offering will not have that broad appeal, it might lead to a dedicated, albeit smaller, customer base (like Sanako’s language teacher base). 

 

Sanako has grown itself into a well reputed language company; Sanako connect has succeeded by targeting a niche need with language learning LMSs. Will my venture succeed with a similar strategy?