Looking for opportunities on a larger scale than what I recently been posting about helps to understand that there is a whole world of opportunities to explore. The first topic that I want to look at is how tobacco shops can no longer serve people under 21. I noticed this change in all of the tobacco shop windows within the last few weeks. Now that these tobacco shops can no longer serve those underage, they could adapt to becoming the adult one-stop-shop. Grouping all the adult products in one space would save people time when it comes to planning weekend parties or relaxing evenings. By including these items to the companies' inventory they will attract a much larger crowd.
Another regulatory change that we can imagine to be coming to Florida soon as it has already gotten approved in 17 other states and Washington, D.C. is recreation marijuana. Once it becomes legal in Florida there will need to be companies that adopt weed into their inventory, distribution center for if, and new businesses are likely to come up from this. While the end product will be for the consumer the opportunity lies with these new companies competing for the consumers.
Moving on from opportunities coming from regulatory changes, we are looking into opportunities that are coming from economic changes. As technology is rapidly expanding forms of payment are becoming more diversified, faster, and easier than ever. Everywhere we look we notice different money sending apps that are only applicable to a select few vendors and programs so have a universal form a payment would greatly increase check out times and viable customers. I saw a news article about how companies are trying to find a way to bring all of the banking and money sharing apps onto one interactive system.
As global warming becomes more noticeable, our crops are starting to suffer. Due to rising temperatures, and more destructive and less predictable weather food prices are on the rise. There is an opportunity for more greenhouses and other climate control devices to be implemented. Farmers would be the prototypical customer, and in areas where agriculture is on a decline having some form of protection would help to boost security.
Hi Ethan!
ReplyDeleteI really like all of the opportunities you posted about, especially the ones involving regulatory changes. I am from Washington state, a state where recreational marijuana is legal, so I definitely agree that there is a huge space for opportunity regarding this. When it became legal in WA, so many new businesses started popping up. I'm a little confused on your idea regarding tobacco stores becoming an adult one-stop-shop and what you mean by "adult products". If you mean tobacco, then I'm not sure what would make the store different from the normal tobacco store. Good job!
Hey Ethan,
ReplyDeleteI also wrote about the new law on tobacco and vape products. I never realized how many smoke shops we have in Gainesville and around campus. I hadn't thought about an adult one-stop-shop, (I am assuming you meant alcohol and these vape/tobacco products) I agree that it would save time to have them all in one shop. I actually spoke to some of the smoke shop owners, and they said they don't like the new law as it takes away most of their customers.
Deborah Lee