6A – Identifying Opportunities in Economic & Regulatory Trends

1) Four Opportunities

1. (Economic) E-commerce, online drop-shipping business
a. I heard about this opportunity from my friend Connor who has recently opened his own business consulting firm.
b. What leads me to believe this opportunity exists is that Connor has earned a Master's in Finance from UF, and he has been researching heavily into this industry in the hopes of branching out into it. He says that because it is early in its development, this can be a perfect opportunity to involve yourself with in the coming years.
c. The most likely customer that would use this service is people of all ages who make online purchases in dense, urban populations.
d. This would be a middle of the road opportunity in terms of its difficulty of exploitation. You would need a sizable investment to get started and base yourself in a major city for ease of customers, but after that it would get progressively easier to manage.

3) I saw this opportunity because my friend had explained it to me and the different components involved in developing a company that can provide this service. I also began supporting it once I looked into it more and thought about the service, what it would need, and how this is not a service currently being met.

2. (Economic) Employment consulting business
a. I found out about this opportunity when reading through an article on Bloomberg some time ago, that discussed the increased opportunity of this business since the unemployment rate has become so low.
b. I believe that this opportunity exists because of the reliability of Bloomberg and their expertise. I also agree with the assessment that because of the low unemployment rate this type of business can be particularly successful.
c. The most likely customer to utilize this service would be a business owner or manager looking to better understand his employees and perspective employees, and make smart and productive hires.
d. This opportunity would be relatively easy to exploit when you consider the current market today for this service.

3) I saw this opportunity because when I read it in the article, the explanations made in the article were well thought out and concise. I began seeing how this business can be utilized to great success in the current market.

3. (Regulatory) Hemp farms
a. I heard about this opportunity during the announcement made on the news that hemp was now federally legal in all 50 states.
b. This information definitely suggests an opportunity exists because it was a federal decision that now allows a whole new industry to be created legally in the U.S.
c. The most likely customer of this business opportunity would be textile companies looking to use hemp in fabrics. Other customers can include construction and car companies who wish to use hemp for materials and parts.
d. This opportunity would be very easy to exploit, considering the efficiency of growing hemp and the expected growing demand for it.

3) I am able to see this opportunity because the flexibility of hemp and its variety of uses makes it a very useful and lucrative plant to harvest.

4. (Regulatory) Medical Marijuana Dispensary
a. I found out about this opportunity through my own experience with medical marijuana, as I am registered in the system in Florida that allows individuals to obtain medical marijuana.
b. I believe this information to suggest an opportunity exists because I am a user and a beneficiary of this business opportunity.
c. The most likely customer of this opportunity is anyone with a disability or health issue who qualifies for medical marijuana, and wants to use it.
d. This opportunity would be relatively easy to exploit considering the high demand for medicinal marijuana.

3) I see this opportunity better than others because I have first hand experience with this business, and have seen how profitable, successful, and beneficial it can be for customers.

5A – Identifying Local Opportunities

1) The local newspaper I decided to use was the Atlanta Journal Constitution

2) Five stories with links (listed below)

3) Listing the five opportunities

1. First opportunity

• Suit: Stadium should pay property taxes - Filing targeting Mercedes-Benz Stadium could have implications for exempted facilities across nation.

• https://infoweb-newsbank-com.lp.hscl.ufl.edu/apps/news/openurl?ctx_ver=z39.88-2004&rft_id=info%3Asid/infoweb.newsbank.com&svc_dat=WORLDNEWS&req_dat=0D0CB57BE7FF6D8A&rft_val_format=info%3Aofi/fmt%3Akev%3Amtx%3Actx&rft_dat=document_id%3Anews%252F171160D25E65EBE0

• The city of Atlanta and Fulton County are putting together a lawsuit that is demanding the Mercedes-Benz Stadium be required to pay property taxes. Currently the stadium is property tax exempt, like many other stadiums in the U.S.

• The problem presented is that Fulton County property taxes have been increasing, and residents are becoming upset that the Atlanta Falcons football franchise is not being required to pay property taxes. The 30 year lease for the stadium has the opportunity to generate $700 million in property tax revenue for the city and county.

• The people or groups who have the problem are the Atlanta Falcons franchise, who are being taken to court for the property tax exemption

2. Second Opportunity

• METROWIDE: Atlanta, Marietta schools look to hire furloughed workers

• https://infoweb-newsbank-com.lp.hscl.ufl.edu/apps/news/openurl?ctx_ver=z39.88-2004&rft_id=info%3Asid/infoweb.newsbank.com&svc_dat=WORLDNEWS&req_dat=0D0CB57BE7FF6D8A&rft_val_format=info%3Aofi/fmt%3Akev%3Amtx%3Actx&rft_dat=document_id%3Anews%252F1712B2D79F32A608

• Marietta and Atlanta school districts decided to speed up the hiring process for federal workers currently out of work due to the shutdown. They were given priority for positions such as faculty assistants and substitute teachers.

• The problem presented in this article is that federal workers have been furloughed, and this is causing a strain in some parts of Georgia. 16,000 federal workers in the Peach State have been out of work for almost 5 weeks, and the state wants to help remedy the situation any way they can.

• The people or groups who have the problem are the furloughed workers along with the Georgia counties who have residents who are affected financially by the shutdown.

3. Third Opportunity

• AJC DIGGING DEEPER COBB VA - System overhaul frustrating vets - New clinics are on the way, but process has become cumbersome.

• https://infoweb-newsbank-com.lp.hscl.ufl.edu/apps/news/openurl?ctx_ver=z39.88-2004&rft_id=info%3Asid/infoweb.newsbank.com&svc_dat=WORLDNEWS&req_dat=0D0CB57BE7FF6D8A&rft_val_format=info%3Aofi/fmt%3Akev%3Amtx%3Actx&rft_dat=document_id%3Anews%252F1711B5542FBE84D8

• The Cobb County VA clinic, the only one in the county, is shutting down as the VA offices have announced the opening of several new clinics in the county.

• The problem presented in this article is that veterans in the care of the VA clinic are now unable to visit any clinic since the only one in the area is closing down. They are now having to wait until the new facilities are open.

• The people or groups who have the problem are the veterans who are not being given the proper treatment that they require.

4. Fourth Opportunity 

• ONLY IN THE AJC CONFEDERATE NAMES - Rebel-named roads: More changes afoot?

• https://infoweb-newsbank-com.lp.hscl.ufl.edu/apps/news/openurl?ctx_ver=z39.88-2004&rft_id=info%3Asid/infoweb.newsbank.com&svc_dat=WORLDNEWS&req_dat=0D0CB57BE7FF6D8A&rft_val_format=info%3Aofi/fmt%3Akev%3Amtx%3Actx&rft_dat=document_id%3Anews%252F1711B553F3AC5520

• Throughout the city of Atlanta, many of its roads and streets are named after various Confederate generals and other associations with the Confederate Army.

• The problem presented in this article is that there are quite a few roads that are alleged to be named after Confederate individuals, and while the city of Atlanta wants to rename them, many people are against the changes and wish for these roads to retain their historic names.

• The people or groups who have the problem are the city of Atlanta wanting to rename the roads, and the people who are against renaming the streets.

5. Fifth Opportunity

• AJC INVESTIGATES CITY HALL - City seeking to limit credit card abuse - Ordinance will be taken up today at city council meeting.

• https://infoweb-newsbank-com.lp.hscl.ufl.edu/apps/news/openurl?ctx_ver=z39.88-2004&rft_id=info%3Asid/infoweb.newsbank.com&svc_dat=WORLDNEWS&req_dat=0D0CB57BE7FF6D8A&rft_val_format=info%3Aofi/fmt%3Akev%3Amtx%3Actx&rft_dat=document_id%3Anews%252F1711B5541E6C96E8

• Atlanta city issued credit cards have been used for expensive vacations and dinners, with taxpayers footing the bill for these negligent purchases.

• The problem presented in this article is that Atlanta city council issued credit cards for members that have been used for lavish expenses, none of which were considered essential.

• The people or groups who have the problem are the taxpayers of Atlanta, GA along with the Atlanta City Hall.

4A – Forming An Opportunity Belief

1. I have a strong belief that there exists an opportunity for a new and innovative type of grocery store that can cater to a large number of people in niche markets. What my idea is, would be a ketogenic restaurant.

2. The unmet need that many people are beginning to have is places to eat that are totally keto friendly. The people who have this need are individuals who are currently following a ketogenic diet and want to go out and eat. This need is relatively new, due to the growing popularity of the keto diet. What people do now to meet this need is cook their own food at home, or pick very select menu items that are considered keto friendly at already existing restaurants. I would say that I am 80% certain that this opportunity exists.

3. The prototypical customer is someone who is following a ketogenic diet, whether it be for weight loss, dietary benefit, or other health-related reasons. This would be someone from any age bracket and any background.

A. One prototypical customer would be a college-aged student, looking to get fit and also try out a newer diet to see how it could benefit them.

B. Another prototypical customer is an older person who wishes to lose some weight and get healthier.

C. The last prototypical customer could be someone who is of a younger age, in their teens, wanting to try something new and also see how it could help in their growth.

4.
A. I sought out a friend of mine who has done keto in the past, and asked them several questions regarding the keto diet and keto restaurant options. They first explained that it was somewhat difficult to find a totally keto friendly restaurant, but that there were places currently existing that did serve ketogenic individuals very well. They stated that they experienced this need only when they were needing to find somewhere to eat at. They only had the need during the time that they were in ketosis, which for them was 6 months. They addressed the need by finding restaurant menus online and deciding beforehand what they were going to eat. They felt it would be an improvement to have a keto restaurant versus what is available now.

B. I consulted with a friend of my parents who had been interested in doing keto to help with weight management. I asked them what difficulty it would be to eating out while on keto, and they said as someone who hasn't been in keto yet, that it seemed tremendously difficult to find a totally safe place to eat at. They felt however that it was not of the upmost importance to find a restaurant since it was only when they would like to eat out, which is sparingly. They felt that one way to mitigate how hard it can be to find keto food at a restaurant is to search menus and reviews and see what they have to offer. They felt it would be a benefit to have a safe and easily accessible restaurant to eat at.

C. I spoke with a friend of my little brother's who I told keto about to help him lose weight, and he has been doing it for a couple weeks now. He said that he prefers not to go out and eat because of the hassle it can be. He said he only has a need to go out and eat whenever his friends also want to go out to eat. Usually he just stays home however or cooks food before hand and brings it with him. They feel that this would be a good solution for people on keto wanting to eat out.

5. Overall, I feel very strongly about this opportunity. I think it can become a successful restaurant, and more importantly, be one that is serviceable to many people interested in this diet.What surprised me the most was that everyone seemed to agree that it would be far easier to have a purely keto restaurant, since many places will include heavy carbs as a side or main dish.

6. ^^^^

7. I believe that the entirety of my original opportunity still remains after speaking to a few possible customers. I also think that my opportunity is still 100% accurate in regards to how I envisioned it when I started. There is a definite trade-off however for entrepreneurs when it comes to adapting towards customer feedback. I feel that nearly all of what my prototypical customers told me falls in line with what I envisioned originally.

3A – Your Entrepreneurship Story

One time I had been exposed to entrepreneurship was during high school when our band needed to figure out creative ways to raise money for our trips. We decided that we could do a Saturday car wash, and set prices that would be good enough for people to want to support the school and also have their car washed. We had done other various fundraising activities prior to this one, such as going door to door and selling discount cards for different companies in our community. It was overall a good experience, and we were able to raise a decent amount of money from it as well. I would also add that because of the laid back atmosphere during the car wash, a lot of us felt that hosting another one maybe later in the semester would be equally profitable and enjoyable. This was essentially my closest exposure to anything related to entrepreneurship.

2A - Bug List

1. Shopping at Trader Joes when it's busy because there are too many people to move comfortably.
Why - The store itself is not very large.

2. Calling Financial Aid Offices and waiting for a long time because they don't have an available caller.
Why - They do not have enough staff working the telephone lines.

3. Not being able to drive through campus during the early morning to mid-afternoon.
Why - The buses/facility workers all need totally empty roads.

4. Having to wash other people's dishes in the sink just so you can wash yours.
Why - People can be lazy or forgetful about when or what they ate.

5. When the servers at Grill Fresh decide not to load up your entree and give you less than expected.
Why - They think they're making a huge difference for the company and generating a profit.

6. Publix is so much more expensive than other grocery places, despite not being healthier or better in any way.
Why - Publix brands itself as high quality, luxury grocery.

7.  When you have a screen protector and case for your phone, but it cracks the actual screen regardless.
Why - The phone was already compromised, or the protective casing was faulty.

8. Hearing people talk about how they really dislike children for a variety of reasons
Why - I have no idea why except maybe they wish humans were born adults.

9. There are not enough bus routes that go north and south on 13th street
Why - They figure that people can catch multiple buses to go up and down 13th

10. When you call a friend and they don't answer, but instead text you asking what's up.
Why - They might be busy or not wanting to talk

11. When you are behind a bus and it stops at every stop.
Why - It's doing its job.

12. That if you don't drink it can be kind of boring to go out
Why - Everyone gets drunk and the activity itself is fun with friends

13. That marijuana still is not recreationally legal in the state of Florida
Why - The ballot has not become available yet to vote on

14. That UF doesn't have real restaurants on campus instead of just fast food places
Why - It is cheaper and more lucrative for both UF and the fast food companies.

15. It's dangerous to ride a scooter in a lot of Gainesville even though it's very convenient
Why - The speed limit on a lot of roads is too high for most scooters to keep up

16. When my internet connection slows down randomly
Why - Some days the connection speed is better than others

17. My athletic shoes begin to wear out after some use
Why - They are not very durable and were made to eventually wear out

18. When your teachers take an abnormal amount of time to finish grading big assignments
Why - They have other obligations or even more assignments from other classes to grade

19. Everything in the UF bookstore is far more expensive than if you bought it on Amazon
Why - UF is trying to sell high and make money by any means necessary

20. When I come back from vacation break to Gainesville and realize I forgot something I needed
Why - I was busy packing up my other stuff and neglected to remind myself of the other thing I needed

Overall, I did not find it a total challenge to create my bug list. Some things took a bit of time to realize, but for the most part I felt that a lot of my bugs just came right off the top of my head.

1D - TestBlog Post

Test blog