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 3rd
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 3rd 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 3rd
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
Hi Brian!
ReplyDeleteGreat post! I found all the opportunities you found really interesting! Opportunity 2 was a good read. There is no denying that climate change is affecting our food source; it is interesting to see how we are going to respond. It seems as though vertical farming, more or less, takes the guesswork out of planting agriculture. But as you mentioned, it requires a lot of knowledge of the industry and quite a bit of capital. Since it is so difficult to do, I wonder if we will see more experienced producers participating in this type of vertical farming or if they'll stick with what they know.
Hey Brian,
ReplyDeleteI found the idea of vertical farming to be quite interesting and stuff of the future. Though it may be a bit more complicated and expensive, I believe that in the end it will be worth it. The world today is dealing with more natural disasters, overcrowding issues, and malnutrition than ever before. Vertical farming uses less space than traditional farming and is less susceptible to the elements. I also believe that the legalization of marijuana could help bring in a lot of tax revenue if is state legalized. I do think that investment in the field would be worth the headaches and details.
Hello Brian, you were able to find some amazing opportunities, so great job. I liked that none were related to COVID-19, which means that they will have more longevity as they are not so seasonal or time-specific. Your third one stood out to me because I am always keeping up to date with stock news, so I also saw a huge opportunity when the Apple ruling came out. Awesome job on this post!
ReplyDelete