Opportunities in Economic and Regulatory Trends

Economics

1) Rising purchases through e-commerce of toys and games

• https://www.marketresearch.com/academic/

• (Through the UF Business Library)

• The opportunity here is the apparent ability (or at least possibility) to forgo brick and mortar retail shopping all together and simply have an online presence. 

• The prototypical customer is the board game buyer that would prefer the ease of ordering online rather than going to retail stores. Online shopping is on the rise, and there seems little evidence of it declining.  

• The opportunity will be somewhat difficult to exploit for one major reason: advertising. Some of the money saved by not having a physical presence will have to be used to get the word out about the product, as nobody will see it while walking through the store looking for games. This can partially be mitigated by offering game stores (retail stores focused on board games and the like) the product not for retail, but for use by their patrons on hosted game-nights. I personally know several game shops that have nights once a week or so dedicated to allowing patrons to play board games in-shop. Another method to get by this is online fund-raisers like Kickstarter. Many companies go on Kickstarter not just for raising money, but also to showcase their product.

• I saw this opportunity because, as a singular company rather than the whole board game industry, I may be able to take advantage of it. Larger companies and the industry as a whole would require the retail store because of their high demand. However, I believe while a startup at least, a single company offering board games could save money by not paying retail stores to stock their product.

2) The future work force

• https://www2.deloitte.com/us/en/insights/focus/technology-and-the-future-of-work/overview.html  

•      Found by searching for automation's effect on the work force.

• The article here states that the future of technology could have a beneficial impact on higher-up jobs like managerial and professional work. It also recommends that individuals seeking jobs adopt a lifelong learning mindset, where they must keep up to date with advents in technology. Assuming the seemingly-apocalyptic scenario that the "machines take over our jobs" has some merit in that technology is upending careers ad replacing workers, I believe an opportunity arises in this education of future workers on the advent of new technologies. However, this opportunity is not in higher-up positions, as that need for education is filled by Universities. The opportunity is in the education of middle to lower level jobs on technological innovations that apply to them. 

• The customer offering this opportunity is the person that didn't go to a university or trade school, either because they couldn't afford it, or because they didn't have the time to go. Paired with this is the company looking to hire a diversified workforce and/or looking to fill mid-level jobs. Essentially, a more formalized on-the-job training regiment of middle to lower class workers that can be offered to companies to speed up the hiring and job-training process.

• The filling of this educational opportunity will be difficult. Obtaining people with the knowledge to educate workers, offering this education opportunity to companies and workers that need it, and keeping companies and workers satisfied when someone in the chain (either the company, worker, or educator) inevitably screws something up. Essentially, whoever takes advantage of this opportunity would have to distinguish the brand from the patrons. 

• I've seen a couple services that fill opportunities similar to the one I describe: online universities, training videos and quizzes at larger, more construction oriented companies such as Home Depot, and training for more corporate jobs. However, the opportunity here can be filled by offering training on everything from construction to hair-styling to waiting tables. It can be more "free-lance" based (almost like DoorDash, if the delivery drivers were educated people with free time that didn't mind giving job training), offering jobs to people already with degrees or experience, hiring them to educate workers for patron companies in their area. Or one-on-one training for workforce jobs. It's complex and rambling and unfinished, but it's an idea.

Regulatory

3) Rental electronic or normal bikes on nature trails

• https://www.regulations.gov/document?D=BLM-2020-0001-0001 

•  The regulation page states that they wish to encourage the recreation of all Americans, including those with disabilities, as well as encourage the enjoyment of land managed by the Bureau of Land Management. I believe, if someone were to come to the BLM or the National Park Service with the of having a bike rental station at these parks, they would welcome it. 

•  The customer is anyone that enjoys natural parks and recreation (a market that may be about to boom, at least momentarily, with the end of quarantine). 

•  The opportunity is relatively easy to take advantage of, just contact the proper agencies. The only issue I can think of is ensuring the safety of the user, and making sure the bike will be returned. 

•  I could not say why I'm the only one that would see this opportunity, but I've done a little research and I'm pretty sure there's not anything out there yet like this. It may be a little imposing, working with the government and dealing with all the regulations.

4) Fish and wildlife regulations

• https://myfwc.com/fishing/freshwater/regulations/new-changes/  

•  Fish and Wildlife regulations change all the time nationwide. My idea is an app that allows you to look up the fish you caught and see what the regulations are.

•  Recreational fishers, both onshore and offshore, would use this app. It would be a singular means of keeping fishermen up to date. Rather than having to constantly look up the changing regulations, the app could notify them when there is an update or change. There'd be the option to pick what kind of fish you've caught if you know, or search for what kind you have based on length, color, shape, etc.

•  The opportunity would be a little difficult to exploit, if not for the database of fish, then for keeping up with regulations in each state. 

•  I saw this opportunity while thinking back to what regulations most confused me. Back home when I would go fishing with my friends or offshore with my family, there was a lot of guesswork involved on what kind of fish we had, and especially on whether we were allowed to keep it. We had to go based on past experience, or go through the pain of looking it all up.