Identifying Opportunities in Economic & Regulatory Trends

1.
Economic Trend: Millennials are the demographic buying most homes
Source: https://www.daveramsey.com/blog/real-estate-trends
Reason an opportunity exists: An opportunity appears to exist here because a select demographic is buying more homes and bringing with them certain habits and desires that a particular type of product serves. This would be many types of automated home-goods.
Prototypical customer: Millennials who bought a house and are middle or upper class, with enough funds to purchase electronic or automated accessories for their house
Easy or difficult to exploit: This is relatively easy to exploit. The difficulty comes in the price of producing these goods would be high, including labor costs, because it is technological

I saw this opportunity because I am a millennial, as well as because my sister just went through the home-buying process. So I am familiar with these particular needs and the reality of this trend


2.
Economic Trend: Vegetarian or plant-based food options are becoming increasingly more popular
Source:https://www.entrepreneur.com/article/341216
Reason an opportunity exists: An opportunity exists here for a burger restaurant that sells traditional American food that is plant-based
Prototypical customer: Any health-conscious person over the age of 18, especially people of the 20-40 year range, that have bought more into the plant-based trend
Easy or difficult to exploit: This is easy to exploit in terms of getting into the business, since the start-up cost is relatively low. Maintaining the business and making the food taste good enough to attract consistent customers is more of a difficulty

I saw this opportunity because I personally have a more plant-based diet. But I am also aware of several fast-food American fare companies rolling out vegetarian burgers on their menu to reach this customer base.



3.
Regulatory Change: Gun Control laws could increase across states in 2020
Source: https://www.vistage.com/research-center/business-financials/economic-trends/20191119-social-trends-impacting-business-in-2020-and-beyond/
Reason an opportunity exists: The implementation of gun laws generally increases gun owner's desire to purchase more weapons. They become more concerned that this opportunity will not be around as much later. Gun accessories would be the opportunity.
Prototypical customer: Citizens over the age of 18, generally males, who live in states where gun laws are not yet passed but are in the works.
Easy or difficult to exploit: This is relatively easy to exploit but would need to be a gun-related product that automates or assists in the gun-buying process. Otherwise, it may be too niche of an idea.

I saw this opportunity because I study Political Science and am more aware of the recent regulatory changes.


4.
Regulatory Change: The ban of plastic straws or stirrers in various states, including Florida
Source:https://www.huffpost.com/entry/new-laws-2019-us_n_5c2c195fe4b0407e9085d41f
Reason an opportunity exists: An opportunity exists to supply more drink-related products that are paper based, or do not require straws to drink effectively. Paper-based products are needed that do not deteriorate upon getting wet.
Prototypical customer: Any restaurant in the California, DC, or Gainesville, where these regulations have now taken place.
Easy or difficult to exploit: This is difficult to exploit because of the need for a manufacturing base. The product itself is simple to make, but some research and development is needed to make a recyclable material that is is as durable as plastic - which is highly unlikely.

I saw this opportunity more than other people would because the city of Gainesville, where I live, has recently made this regulatory change. Additionally, I have experienced and observed the difficulty of using a paper-straw as a replacement.