· Regulatory Trend: States legalizing recreational marijuana.
- I believe an opportunity to farm and produce products made from cannabis plants exists because more and more states are starting to legalize recreational marijuana. 2019 is estimated to be a big year for the legalizing of recreational marijuana because many of the pro-legalization candidates for governor won last year’s elections around the United States.
- Typical Customer: I think almost anyone could be a prototypical customer because with marijuana being legalized for recreational use that means more people will have to farm it. With larger crops being grown byproducts from the cannabis plant can be used in everything from paper to ropes and is not just used for consumption. This means it could potentially reach a much larger market than what was originally thought.
- I think this should be relatively easy to exploit once the legalization is passed. It does depend on state by state processes for gaining a license to grow and sell cannabis.
- I found this opportunity because as an individual who uses marijuana for pain management for rheumatoid arthritis I have realized there are many uses for the cannabis plant. Before I began using it I did a lot of research on the multitude products that can be made and it really opened my eyes to how wonderful the plant is. Many people think of it with a negative connotation but I do believe Americans as a whole are starting to come around to the idea of its use and associate it with its more positive benefits.
· Regulatory Trend: Climate change bills and policies being passed around the globe.
- I believe an opportunity to create an affordable water filtration system for homes and businesses that runs on renewable energy sources exists because of bills similar to the proposed green new deal being passed all over the world. Though the green new deal needs a lot of working on before anyone will pass it I do eventually think that the U.S will have to come to terms with the fact that it is necessary for the government to fund projects for renewable energy and cleaning up our environment if we are to continue inhabiting our planet. With funding being available for new projects and our drinking water becoming more and more polluted I think the need for better sustainable water filtration systems will only grow.
- Typical Customer: Any home or business affected by polluted/contaminated water all around the world especially those in need of a more affordable solution such as middle to lower class.
- I believe coming up with a water filtration system that is powered by renewable energy and affordable may be a highly difficult task but if it was able to be achieved and mass produced I think the demand for a product like this would be extremely high.
- I found this opportunity because I have been able to live in many places around the world including many different states in the U.S and with all of this travel I have experienced drinking water bans or boiling water requirements both on foreign and domestic grounds. It is a global need that seems to only worsen as the years go by.
· Economic Trend: Prices in produce have been steadily increasing due to climate change and natural disasters.
- I believe an opportunity exists to develop new farming techniques such as using hydroponics on a large scale for indoor growth to yield more crops. Hydroponic farming takes up less space and is grown in a controlled greenhouse environment. Though it is grown in water instead of soil it actually uses approximately 10% less water than traditional farming styles. There are many other benefits as well such as reduced fossil fuels by cutting down on transportation of produce due to the fact that you can grow closer to market sense it takes up less space.
- Typical Customer: any consumer who eats vegetables
- I believe this would be very easy to start up due to the fact that the technology already exists and there is a great need for more sustainable farming. I do think there would be a backlash from traditional farmers just as there was when major corporations began to buy up family owned farms in the U.S.
- I found this opportunity because my dad works for the department of agriculture and began start up projects around the globe for sustainable farming. It is something I have grown up knowing is in dire need of new sustainable techniques.
· Economic Trend: More millennials are ordering food delivery
- I believe an opportunity exists to start restaurant chains that are delivery only. Yes, there are already Chinese and pizza restaurants that do this but the variety of delivery-only style restaurants is limited. There are also apps that aid restaurants in their food delivery but think of the building costs you could save by having a kitchen only restaurant.
- Typical Customer: Millennial generation and younger
- I believe it would be very easy to start this business especially with the right marketing on social media for brand recognition because of the fact that so many individuals are preferring to eat in the comfort of their own home.
- I found this opportunity because though I am part of the millennial generation I thoroughly enjoy eating out because I enjoy the entire experience of dressing up and going out to socialize. Due to the fact that I go out to eat so often I have noticed many restaurants that are struggling to fill their tables with guests and if the tables are filled it is usually by older individuals.
Hi Kristie, your post is super informational. I liked your take legalizing recreational marijuana. You brought up some excellent points in referring to the prototypical customer and I liked how you incorporated your own personal story. I completely agree with you on how more people need to do more research on the drug rather than thinking and talking about it in a negative way.
ReplyDeleteHi, Kristie Brenes!
ReplyDeleteThe article I found interesting that you posted was the one about certain states legalizing marijuana in 2019. I may be old school, but I still believe that marijuana use is a gateway drug. Therefore, I’m not for legalizing it. However, it is just my opinion and I understand other people’s sides to it.
Here’s the opportunities in economic and regulatory trends I found if you’d like to take a look: https://kimmiepalo.blogspot.com/2019/05/identifying-opportunities-in-economic.html
Hi Kristie! Loved this identifying opportunities post. I found the legalizing marijuana one very interesting. The plant as so many good uses for it that weighs out all the bad. This would be a great opportunity for both economic and regulatory. All we just need is a little push from the government! I also liked the Americans eating more food delivery one. Another opportunity for this is that it effects the environment with a bunch of non-recycable boxes.
ReplyDelete