Assignment 6A: Identifying Opportunities Cont.

Economic Trend 1: People not cooking at home anymore

Source: https://www.washingtonpost.com/news/wonk/wp/2015/03/05/the-slow-death-of-the-home-cooked-meal/?utm_term=.344eba745f45

Summary: I learned this from my mother originally then decided to look it up. This has been such a common way of life, but now is changing and needs a replacement. Families that do not cook or do not have time can order food, have pre-maid meals, or go out to eat will be the prototypical customers. This idea is relatively easy to exploit, in fact, many people have already started making companies to provide for these customers.

Why: I formed this belief because I have heard of this opportunity so many times from my mothers.

Economic Trend 2: Mechanization rather than human labor

Source: https://www.inc.com/jessica-stillman/the-5-biggest-economic-trends-for-small-businesses-in-2017.html

Summary: This is a known trend in the economy. People are being replaced by robots and the opportunity is clear, technology. Big business’ that still have people working would buy the robots as a substitute to save money. This opportunity is hard to exploit because of the technology aspect and mechanics behind the product.

Why: I have heard so many stories of blue-collar workers whom have been replaced by robots.

Regulatory Trend 1: Potential future legalization of recreational marijuana in Florida

Source: https://www.sun-sentinel.com/local/broward/fl-ne-florida-marijuana-outlook-20181228-story.html

Summary: This is also a huge thing in the everyday news with huge opportunity. Agricultural farms are going to be a lucrative business once marijuana is legal. Anybody that is smoking currently or anyone who needs it for medicine will be the customers. This company could be relatively easy to exploit and can be very rewarding.

Why: My brother is an agriculture management major and I have heard his idea which has formed this opportunity in my head.

Regulatory Trend 2: Automatic cars and drivers in the future

Source: https://venturebeat.com/2018/08/25/self-driving-cars-have-a-long-road-to-becoming-transportations-future/

Summary: This is a new regulatory trend in the economy that will change the way of the everyday life. This business will be extremely lucrative once the research and invention comes into play. Everyone that drives will be the potential customers of the automatic cars and drivers. This is the hardest opportunity to pursue because of the complexity of the need and the products quality.

Why: This is the future and I realize this and will always know this to be the next lucrative opportunity.