7A - Testing the Hypothesis, Part 1

Opportunity: “Guys Getaway Camp” and “Girls Getaway Camp”

My opportunity is to have guys-only, and girls-only getaway camps held on weekends and sometimes all week depending on the season.

The who: Adults

The what: New vacation and entertainment choice

The why: Limited and redundant vacation and entertainment choices

 

Interview #1

The who: “This wouldn’t be a need. It is definitely a want. Nobody is forced to go on a vacation or adventure. However, I think we all could use a getaway occasionally. You should call this camp a work retreat so people can leave their families and say they are going to a work retreat. Even better, call it an industry conference.”

The what: “I’d say the boundaries would be how many activities you could do in a weekend or how strenuous are the activities? Not everyone can do extreme sports.”

The why: “Personally I think there are lots of choices for what to do on vacation. Sure, you may do similar things, but in different locations around the country and world.”

 

Interview #2

The who: “I’d say adults aged 20-45 years old that can afford to go.”

The what: “The camp’s boundaries would be your footprint of location. What kind of place will this be at? You might be limited if there is no water activities and things like that.”

The why: “I think why would be because maybe they want to hang out with friends instead of with their wife or family like usual.”

 

Interview #3

The who: “You’re talking about people who probably don’t have kids and have money to spend on this idea.”

The what: “The boundary would be based on if you are serving alcohol or not. That would limit the age group and probably cost a lot more in insurance. People can get hurt when alcohol is involved. One lawsuit and you’re done.”

The why: “I guess the why would be because why not? For people who are interested this might be pretty cool to try. I’m sure if it were nice then word-of-mouth would help sell this idea going forward.”

 

Interview #4

The who: “Probably women aged 18-35 and men aged 18-45. I don’t see women over 35 being into this unless it’s based on wine tasting or something like that”

The what: “If the need is more options for entertainment like you said, the boundary would be how many other forms of entertainment are you providing?”

The why: “I’d say because people need a release. Half of marriages end up in divorce I think so maybe you could have divorced husband or wife weekend. You might as well go ahead and do matchmaker weekends so people can hook up!”

 

Interview #5

The who: “I don’t know. I guess that would depend on the type of activities or how much this would cost to determine who would be the audience.”

The what: “Most people take vacations with a significant other or their family. Your trying to do a vacation with just one person from the family. A boundary would be people not willing to go without their spouse or child.”

The why: “Maybe because they want to get away from their family?

 

Summary of learning:

My interviewees were hung up on the fact that someone who is married might have a tough time going to a camp like this alone. My vision is more positive, and the attendees would go with same sex friends. I am also seeing how I am limiting myself by suggested same-sex events when there are numerous variations of attendees that could be booked for the camps. Some suggestions for themed events at the camp were alcoholics anonymous, wedding counseling, renewal of vows, class reunions, different hobby enthusiasts, church camps, boy and girl scout meetings, rehab, and team building. I think I am too focused on visualizing what I personally would like to attend instead of what would bring in the most people and make good business sense. Going forward I am going to focus the opportunity on creating a campsite that has a large array of possible activities and can accept any group for any reason.

6A - Identifying Opportunities in Economic & Regulatory Trends

Opportunity #1

Fast food chains should sell and market their used cooking oil for types of 3D printer material

After googling economic trends and then diverting into the fast food franchise wormhole of info about their tight margins, I later found information on cnn.com about the use of used fryer oil and it clicked. I believe this could be a major boost to fast food chains around the world and the sale of more 3D printers. Scientific research facilities and education teams can use this cheap material instead of much more expensive plastic elements. What was once a waste and an operating cost to dispose of can now become an asset. This is not an opportunity for the average consumer. This is an opportunity for large fast food chains and indirectly for 3D printer manufacturers. I don’t think it takes a genius to see that the invention of a new technique to re-purpose a previous waste item is good for all of us and a new opportunity for income.

https://www.ibisworld.com/united-states/market-research-reports/fast-food-restaurants-industry/

https://www.cnn.com/2020/02/19/business/mcdonalds-oil-3d-printing/index.html

 

Opportunity #2

Use vertical indoor farming to take out the variable of bad weather, fires, and flooding and reduce food costs.

Surprisingly sticking with the food industry, food prices for all consumers are increasing in part due to climate change. There are more fires, flooding, pests, and inclement weather that effects the crops and farmers income. Thus, our food costs increase. I found an article about Elon Musk’s brother and his indoor vertical farming using ultraviolet lamps. This technique takes out many of the unpredictable elements and is more consistent. It also is more environmentally friendly and eliminates harsh pesticides. Vertical farming is not an opportunity for the average person. It requires start-up capital and knowledge of this type of farming. This could be marketed to consumers who want to choose a better option. I just happened to see these articles during the same research period and put this together. I’m sure anyone else who did the same thing would consider the same opportunity.  

 

https://www.thebalance.com/why-are-food-prices-rising-causes-of-food-price-inflation-3306099

 

Opportunity #3

App makers may be able to profit more or a 3^rd party App provider could replace Apple’s App store

Last year the Supreme Court ruled that Consumers could sue Apple for their monopolistic pricing strategy for 3^rd party App developers selling in the Apple App store. Apple’s strategy was that only the developers could sue them since they set the prices for apps. However, Apple takes a 30% commission and requires that all app costs end in $.99. Developers claim that the price of Apps is too high with Apple taking a large chunk of the profits. They don’t have a choice because iPhone users must go through the Apple App store only. I found this opportunity while researching for my Business Law class. It seemed perfect to research further for this assignment. This is a direct opportunity for developers to take more of the profit while still being able to offer Apps at lower priced to the consumer. If a 3^rd party App provider is allowed on iPhones in the future, we could all benefit from an open market. You only need to be an App user to benefit from this.

 

https://www.supremecourt.gov/opinions/18pdf/17-204_bq7d.pdf

 

Opportunity #4

Selling recreational marijuana in Florida

The Florida Supreme Court is hearing arguments this month that would allow a proposal to Florida voters in 2022 to legalize marijuana. I found this information while searching for Florida Supreme Court decisions. With the growing momentum for states to legalize recreational marijuana use, there is an opportunity in my opinion for marijuana growers and sellers. There is also an opportunity for marijuana friendly restaurants, bars, bakeries, etc. to benefit from this law change without as much investment as growing and selling marijuana directly. The typical customer for this is broad ranging from the legal age to the elderly. Albeit for probably different reasons. I see this as an opportunity when others might see it as a burden with strict legal enforcement and oversight.

 

https://www.miamiherald.com/news/local/marijuana/article242538621.html

 

5-A Identifying Local Opportunities

I.

'I'm desperate': Living out of his car, self-employed business owner has not seen a dollar in unemployment benefits after months

 https://www.firstcoastnews.com/article/news/local/im-desperate-living-out-of-his-car-self-employed-business-owner-has-not-seen-a-dollar-in-unemployment-benefits-after-months/77-e0a54f12-52ef-49f5-b518-659ac37ef12c

 This article is about a man having to live out of his car because the pandemic has made him lose money and he hasn’t received any unemployment benefits in months. His detailing business was sufficient for seven years but now he is in need. He says he has filed everything he can but that the system is not providing a link that he needs to continue.

 The problem presented in the story is one man’s inability to complete transactions needed to get assistance.

 The Pandemic Unemployment Assistance portal and the Reemployment Assistance portal have the issues. Greg Mackin is feeling the effects from those issues.

  

II.

Marion County man arrested, accused of exposing himself to juvenile, brandishing gun

 https://www.firstcoastnews.com/article/news/crime/marion-county-man-arrested-accused-exposing-himself-to-juvenile-brandishing-gun-battery/77-2bea94ea-bdf9-4972-be12-536d800e6572

 This article is about a man who exposed himself, spit on others, and brandished a gun while he was in a natural springs area. He also threatened to shoot people. Once cops arrived, he eventually gave up and threw the gun aside and was arrested. He was found to have a small amount of marijuana in his possession as well.

 The problem presented in this story is a man threatening harm to others.

 The arrested man is the one with the issue. The origins of his problems could be poor upbringing, drugs, or mental health.

 

 III.

Driver killed in crash on I-10, Chaffee Road South

 https://www.firstcoastnews.com/article/traffic/at-least-1-person-killed-in-crash-on-i-10-chaffee-road-south/77-ff6c7d75-f8e3-4a56-8684-5f787456ef95

This article is about a crash that happened after a man fled from the police. It started when the driver drove recklessly through a parking lot and almost hit a pedestrian. The police tried to pull him over and he fled. After a high-speed chase, the driver lost control, crashed, and later died.

 The problem presented in this story is a man dying from a car crash.

 The deceased driver is the party with the issue. His decision to run from police put him in a position to crash and die.

 

 IV.

'Have fun and see you later' | Employer quarantines worker without pay after he parties at Lake of the Ozarks

 https://www.firstcoastnews.com/article/news/health/coronavirus/employer-quarantines-worker-lake-ozarks-party/63-b40bb453-856c-419e-8253-bcce40d799c1

 This article is about a man who is being forced to self-quarantine by his employer for two weeks without pay. He claims he told the employer about the planned trip and took precautions to cover his face while attending the trip. This scenario will be interesting how it plays out because the employee may be entitled to pay for those two weeks if his doctor agrees he should quarantine. The Family First Coronavirus Response Act allows for people to get compensation should they need to quarantine to protect their family.

 The problem presented in this story is the employee who is not receiving pay during his forced quarantine.

 The issue is with the employer not feeling that the employee is taking other co-workers safety in mind during personal time.

 

 V.

'More than pre-pandemic': People bring pollution back to First Coast beaches

 https://www.firstcoastnews.com/article/news/local/more-than-pre-pandemic-people-bring-pollution-back-to-first-coast-beaches/77-1389a4ec-3fe2-45fd-a645-9942c4560bda

 This article is about the amount of litter that is being left on beached recently. The volunteers claim that the amounts of trash left behind are more than before the pandemic started. The trash hurts local wildlife and degrades the beauty of the natural resource. They encourage people to stop littering and are recruiting volunteers to help pick up trash in the evenings to help with the issue.

 The problem presented in this story is trash left on the beach that hurts wildlife.

 The issue is with the animals who ingest the trash.

 

4A-Forming An Opportunity Belief

4A-Forming An Opportunity Belief

I believe there is an opportunity for adult summer camp style programs. This belief is a result of previous conversations with friends over the years. My belief is that there is a market for grown-ups to go to a day-long or week-long camp. The version of this idea that I believe would be the first to try out is a “Man Camp”. The curriculum would be things that many guys believe they should know or wish they knew more about like minor electrical work, basic carpentry, self-defense techniques, cooking basics, hygiene basics, survival techniques, and basic car repair. Experts could be brought in to give hands-on training for the day or week.

This camp would be for guys who did not get enough training on these topics from family and friends up to this point in life. Currently these guys are looking at YouTube videos or paying professionals to come in and do the work for a fee. Adult friendships could be made as a result and confidence in these basic skills could make them more prepared for life. I am 100% sure that there is a need for more knowledge on these subjects but I’m only confident that about 25% of men care about getting these skills and don’t already have that knowledge. My prototypical customer would be a male age 20-45 with moderate disposable income.

Typical Customer Discussion #1: (37 yr. old married male)

After giving a summary of my Man Camp opportunity I gained the following knowledge: he had done a camp with his son last year near Tampa and made some great memories. He didn’t think this style of camp would generate those kinds of positive memories and experiences that would encourage others to want to attend. He inquired about the location of the camp. I told him it was intended to be a lakefront type of environment in theory. He said if it was in a hotel ball room or community rec room, he would have zero interest in attending. He said he would be willing to pay $75 per day for this camp. I told him this would probably cost much more since we would be providing meals and would need to pay experts. In summary, I don’t think he was that interested.

Typical Customer Discussion #2: (42 yr. old single male)

After giving a summary of my Man Camp opportunity I gained the following knowledge: he lives in an apartment and most of the skills my camp would be teaching didn’t apply to him at this time. He said maybe in the future when he owned a house. His Father taught him some outdoor skills, so he didn’t need those. The only skills he was interested in was basic car repair. However, many cars have fewer items that can be repaired with basic tools and the absence of computer systems designed to test the car. He didn’t give a price that he would pay because I don’t believe he saw the value in attending this style of camp.

Typical Customer Discussion #3: (24 yr. old single male)

After giving a summary of my Man Camp opportunity I gained the following knowledge: he lives with his mother and was really interested in a lot of the topics I told him the camp would offer. He was very interested in the after-hours environment of this camp. I told him I hadn’t focused on the partying aspect of the camp and it was more about life skills. He seemed disappointed. He said he would pay $500 for the week but had concerns about taking a week off work to spend at a camp with nobody he knew. In Summary, he had some interest in the concept but probably wouldn’t have spent a week’s vacation going to it.

 

Assignment Summary

I was disappointed that my typical customers weren’t as interested in the Man Camp concept as I was. They never saw any glossy brochures or fun marketing videos making the camp seems awesome to attend. The level of enthusiasm was very low, and these people were my friends and acquaintances. I would imagine complete strangers would be harsher and less enthusiastic than they were. I was surprised that hanging with other guys and learning useful things wouldn’t be more of a draw.  I’m not passionate enough about the idea to ignore my small sampling of negative responses and push through the negativity. There would be too much up front capital spent on the idea to have a good chance to get my money back and make consistent profit. Maybe I’m one of the few that would pay more and take vacation to do a Man Camp. I must be in the minority. With great risk is the opportunity for great reward. I believe sometimes people who are crazy enough to take a chance on things that don’t make sense at the time are sometimes just ahead of their time. I’m not that person at this time with this concept unfortunately.

 

3A - Your Entrepreneurship Story

My entrepreneurship story:

When I was in high-school I started selling blow pops to other students. My mother had recently joined Sam’s Club and I talked her into buying me my first bulk box of candy. I sold them for 25 cents each at first. The box sold out in the first week. I wasn’t a big fan of the candy so I didn’t eat too many of them and hurt my profits. As I got to know my customers over time, I learned that watermelon and sour apple flavors were in high demand and could be sold at a premium for $0.50 each. After tapping in to the market consistently with the same product, the demand for the regular cherry flavor decreased. About a month later, I upgraded my offerings to include a few candy bars that I sold for $1.00 each. The profit on the candy bars was much greater and inventory moved faster. However, during the hot summer months, my stock of candy bars could be at risk of melting. I started to bring a small cooler to keep the candy bars cool. The coldness increased the demand. My mother was making a trip to Sam’s for me every week. Other kids saw the money I was making and started to compete with me and sold candy of their own. The supply flooded the market and business started to drop. The large quantity of sales between multiple students was noticed and since selling candy was prohibited at school, my business was terminated.

 

The reason I enrolled in ENT3003 was because it is a requirement for UF Online Business students. However, I find the subject interesting and probably would have taken the class if not required to anyway.

 

2A-BUG LIST Assignment

1.    Bug: When I’m pulling out of my neighborhood and there is only one oncoming car, more than half of the time they don’t use a blinker to tell me they are pulling in which would allow me to go. I sit there and wait for them and then see they are turning right before me and I could have gone had they shown the courtesy.

Why: I assume people are focused on where to turn in and don’t want to miss it.

2.       Bug: Are box springs really needed for mattresses? We have a bed that has thick pillow tops and is over a foot thick. I doubt that the hard box spring underneath does anything.

Why: This probably was needed at one point because beds had springs in them that would get worn out. The box spring probably extended life and comfort.

3.      Bug: There is so much redundancy when you are applying for a job online. You upload your resume, then have to sign up for a portal with the employer, then type in manually all the same information that’s on your resume you uploaded.

Why: I hear that there are keywords and minimum standards that are easy to filter when people type in their info again. Therefore, they can skip looking at a resume if it doesn’t have some keywords or certifications.

4.       Bug: Employees tend to call in around income tax check time and after stimulus checks get sent out.

Why: They are focused on short-term needs and ignore the fact that they are actually losing money by not coming in.

5.       Bug: My wife and I share an Amazon prime account. When I order a gift for her, she can see the notifications, look up the order, and see what I searched. This ruins the surprise.

Why: I’ve heard there is a way to hide some of this but not completely if she wants to look for it. The company wants to provide as much info as possible to their consumers.

6.       Bug: When I get into my car and immediately start the engine and start driving, the Bluetooth connectivity takes about five minutes after I start driving to connect to my phone. The connectivity only takes two minutes if I stall before putting the car into drive.

Why: The fact that bluetooth exist is amazing, but the system is working hard to search for signals.

7.       Bug: In order to get help from a landscape company for weeds, you must sign up for a recurring account and spend money every month. I’d like to spend money for only a couple of months in the spring to knock out weeds before the growth begins.

Why: The financial model is much more profitable for the companies to do a recurring contract plus it may take more than a couple of months to get all the weeds out.

8.       Bug: Many perishable products have a “best use before” date that makes us cautiously use things after that date or throw them away.

Why: This is a great trick to get consumers to throw out perfectly good stuff and buy more.

9.       Bug: People who make the snort sound inside their head with their sinuses and sound like they are about to spit a “loogy”.

Why: Some may be just do to a nervous tick and unaware of what they are doing. Some probably have sinus issues that need repair.

10.   Bug: Putting a wet paper towel inside the kitchen sink. This occurs when guests are over at our house. Afterwards I usually find a wet paper towel inside the sink basin.

Why: I’m assuming because that’s what they did growing up but it was probably something you could reuse instead of a paper towel.

11.   Bug: People who chew with an open mouth and try to talk at the same time.

Why: Poor manners or habits and nobody has confronted them about it.

12.   Bug: People who click or tap a pen or some other object in their hands during a meeting.

Why: Probably nervous energy and unaware of what they are doing.

13.   Bug: People who wear large Bluetooth earpieces around all day. This is usually an older gentleman.

Why: For convenience and probably because nobody has told them how annoying it is.

14.   Bug: People who talk on their cell phone in speaker mode while out in public.

Why: Maybe hard of hearing or don’t like the phone up to their ear.

15.   Bug: People who talk loudly on their cell phone in public places.

Why: For convenience and probably because nobody has told them how annoying it is.

16.   Bug: When my wife insists on bring restaurant leftovers home when we both know she won’t eat it and I’ll end up throwing away a few days later in frustration.

Why: Guilt of wasting food. Having the possibility of more options for lunch the next day.

17.   Bug: People who show up at your door unannounced. This is usually a nosy neighbor or a friend dropping something off since they were in the neighborhood.

Why: Convenience for them and they don’t care what you need to do before opening the door for them.

18.   Bug: People who bite their nails. Especially in public.

Why: Because they must not know how many germs are under their fingernails and how bad the act of biting them is for their nails. Also, nervous habit as well.

19.   Bug: People in busy public places that stop in a group in the middle of the walkways. This happens at amusement parks the most.

Why: Fear of getting the group split up. Inconsiderate of others or unaware of what they are doing.

20.   Bug: People who say the word “literally” when they don’t mean literally.

Why: Poor vocabulary habits or a family member did it frequently when growing up.

Recap:

The first seven bugs were very easy because those were the ones that I have mentioned to friends and family more than once. Then I hit a creative wall. After a quick google search, the floodgates opened and I had more than 20 if I needed it. Most of these are pretty common it turns out.

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