I understand that you bought the domain because you liked it and then you're trying to build a business around it?
That's not the usual way :lol:
Normally, you have an idea, you see if you can carry it out and then you find a name and register it. The name always come last.
Your friend is right, the first impression I have with that name is that your site will be something similar to templatemonster.com
Still, that doesn't have to be the truth. You can turn it upside down. So the question is... what do you want to offer and what do you want to do?