Identifying Opportunities in Economic & Regulatory Trends

Opportunity 1: Marijuana Laws Becoming More Liberal—several states are loosening their laws regarding the use of marijuana, some even going as far as to allow it recreationally.

1. I have been hearing about these regulatory changes through the news, social media, and various articles online. 
2. This information leads me to believe that an opportunity may exist because so many people are excited about it. Based on conversations I have heard and posts I have read on social media, the demand seems to be high, especially for recreational marijuana. The states that have already relaxed their laws surrounding the substance are seeing great economic advantages.
3. Prototypical customers would likely be college aged students, adults with jobs who do not drug test them, retirees, and those with medical needs that seek homeopathic remedies.
4. The opportunity is likely difficult to exploit since there are so many regulations around the industry, including how you can grow the plant, who you can sell it to, and how/where you can sell it. There are also many people/companies already trying to get into the industry, leading to competition being a large barrier to entry of the market.

I believe I see this as an opportunity because I am from a state—Massachusetts—where the laws around marijuana consumption have already become very liberal. It has been great for our economy, and the public seems to be glad that the law is as it stands. There have not been any “marijuana-related” deaths like some may fear if they consider it a substance similar to alcohol, and people are still functioning normally in their day-to-day lives to the point that you cannot even tell if they are users or not.

Opportunity 2: Florida Lawmakers Looking to Prohibit Local Vacation Rental Regulations—vacation rental companies are looking to prevent Florida cities from imposing regulations on them.

1. I heard about this regulatory debate through news articles that are circling social media sites.
2. This information leads me to believe an opportunity may exist since it will allow those looking to partake in providing short term rentals through companies like Airbnb to do so in an easier manner. Airbnb is seen as an easy way to make money and has been increasingly popular for landlords and renters alike.
3. Prototypical customers would be vacationers and those looking for somewhere cheap to stay for a night.
4. The opportunity is likely easy to exploit, since if there are no local regulations to follow it is much easier to partake in renting your place out short-term. The demand is high and Airbnb allows you to set your price and run the rented property as you please, so it is very easy for locals to get involved and build their success.

I believe I see this opportunity since I am not a full-time resident of Florida, so I see it as a very touristy place rather than as my home. I can see how locals would in some ways desire regulations, since short-term rentals can be disruptive in neighborhoods, but I still believe that it is more important that people have the freedom to rent out their spaces as they please and have access to easy methods like Airbnb to do so. Also, tourism is very important in the sunshine state, so the less regulations on it, the better.

Opportunity 3: Baby Yoda—Baby Yoda has been an extremely popular figure recently.

1. I heard about Baby Yoda through social media sites, where pictures and memes involving Baby Yoda have been posted everywhere.
2. This information led me to believe an opportunity may exist since people are so enthusiastic about the figure, and thus may be motivated to purchase items that revolve around it.
3. Prototypical customers would likely be Star Wars/Mandalorian fans and those in Generation Z since they are most involved in social media.
4. The opportunity would likely be difficult to exploit, since I am sure that Baby Yoda is copyrighted by Disney and thus selling merchandise with him on it would be illegal without proper (and likely expensive) licensing.

I believe I see this opportunity since I am on social media a lot and see the popularity of Baby Yoda within my generation. Even my friends with no interest in Star Wars find him to be a cute, likable figure.

Opportunity 4: Non-Alcoholic Cocktail Bars—a trend toward a “sober curious”, wellness-focused type of lifestyle has resulted in several bars popping up across the nation that specialize in virgin cocktails.

1. I heard about this trend through an article featured on Snapchat.
2. This information led me to believe an opportunity may exist since health and wellness has been a major trend within my generation, and thus extending the idea to include a healthy way to drink socially makes sense.
3. Prototypical customers would likely be health gurus and hipsters.
4. The opportunity would be difficult to exploit, since overall I am sure there are still more people looking to go out to drink alcoholic beverages than there are people looking to go out of their way to go to a bar that exclusively serves non-alcoholic beverages. Thus, the idea is likely not sustainable.

I believe I see this opportunity since I myself am interested in several health/wellness trends and have often ordered virgin drinks at bars just because I like the taste of them.