What I would like to know is whether local sites can be sustainable and profitable. I am thinking quite big here. The site will encompass quite a significant area size but not overly big, which is ideal because it has potential to have lots of recurring visitors and large number of localised search. It's smaller than a city but bigger than a borough.
For domain, the place has a two word name, but I intend to add a generic word at the end of it to give a more meaningful title and better idea of what the site is about. However, in order to shorten the domain I considered going with the initials of the place name and the generic word, or I could go with the full name of the place and the generic word. Which will be better?
Couple of other questions I have regarding this, would a site like this be viable for ten years or more? I want to create something for the long run as I intend for it to be a major part of my life going forward and become a family business in a sense.
For traffic, my intention is to make it really popular by creating a high quality site. Word of mouth will be very important in the marketing. Recurring traffic and lots of local searches will be the main source.
As for revenue, how would a site like this be monetised? Adsense won't really work on a site like this. I am thinking because it will be localised, maybe get local businesses to run ads promoting products/services, maybe start a classifieds section down the line charging a small one time listing fee, and if it gets really popular you can perhaps also start a store selling goods by doing deals with local manufacturers and retailers in the area.