It's funny but your list of reasons are kinda stuff learned in business school. Switching costs, substitute products, etc are common to all businesses in my opi

It's funny but your list of reasons are kinda stuff learned in business school. Switching costs, substitute products, etc are common to all businesses in my opinion and a little bit of analysis might have helped the OP to identify his niche. However, that said, the experiences learned from failing will have a huge impact in the OP's success in the future.