Opportunity Belief

1. I truly believe that there is an opportunity in our world right now for more bulk food stores.

2. With the rising concern for our environment, more and more people want to get involved and know that their purchases are helping some bigger cause. Bulk food stores are where people can see that difference- by witnessing their waste reduction, it's not only good for their wallet (bulk food can cost up to 89% less than packaged foods), but also for the Earth around them. The need would come mostly from younger generations, 20-40 year olds who would like to make a difference. Right now, people are trying to change this issue- by speaking up on social media and protesting for better environmental policy. But bulk food stores are a tangible change that surely make people feel much better and more green than previously stated methods.

1ST CUSTOMER

3. This prototypical customer is someone younger, in their 20-40's, who cares deeply about the Earth, enough so to showcase it through their wallet. Luckily, this target audience is growing increasingly fast nowadays, with the pressure of climate change and every other environmental catastrophe on the cusp of beginning. Younger people are looking for a place to help out and see the fruits of their labor- bulk food stores are the answer.

4. I talked to my sister, who quite easily falls into this category. And I questioned her if she would shop at a bulk food store. She told me she knew there are some drawbacks to bulk food stores- bringing your own container, less convenience, but overall she gave an enthusiastic yes to the idea. Of course, I had to ask what swayed her thinking. She told me that the large scale impact that bulk food stores can have in positively changing the Earth is enough for her to switch over and lose a little convenience on her side. After this, I asked her what first drove her to change to bulk food stores. She stated it was after the news started to showcase how our consumption patterns are killing our Earth. She found it hard to keep on the sidelines and feel powerless when such big things were happening- here she said this was why people like her looked for opportunities like the one's I was showcasing.

2ND CUSTOMER

3. This prototypical customer is a mother, about 35-50, who has her own kids and may be taking the environment a little more seriously now that she's older. Plus, mothers do a lot of shopping in the family, so it makes sense to be targeting to them. As these adults come into a parenting position, they come to realize the damage their doing to the environment and how they're leaving the Earth for their kid. That's why they're good to target.

4. I talked to a mother I know who shops at bulk food stores. She states she does it for two reasons. The bulk food store provides her with easier ways to get what you need without need for serving size (ex. she can get 1 and 1/2 pounds of beans instead of just 1 or 2). Plus, she feels as though it helps her make a difference for her kid. She acknowledges that she can't change everything, but she changes what she can in her life, and what she can change is where she shops. I asked her why she feels she needs to make this change, and she told me she imagines that the world will be unlivable for her kids if they continue on the path that they're on, and she has to make a change now in order to help out. This made sense and is definitely something marketable.

3RD CUSTOMER

3. This prototypical customer is one specifically focused on savings, about 20-40 years old. They don't care too much about the environment, or perhaps it's not their first priority. Instead, they'll come to bulk food shops because they know the savings are much more apparent, and they can get the exact amount they need for a lower price.

4. I talked to a friend who's really into savings and shops bulk. First, I wanted to know why she needed these savings. She put it simply as if she can find ways to lessen her spending grocery shopping, than that money can go somewhere that she cares more deeply about. I thought that was a good point. She told me as well that she shops at places like Aldi and Costco for savings, but for her bulk necessities, like rice, beans or vegetables, these bulk food stores were a necessity. I also asked her if the downsides bothered her. She said no- for example, bringing her own packaging and jars to these places didn't bother her, as long as she was still saving money. This customer is also essential and making a bulk food store run properly.

REFLECT

All 3 customers were interesting to talk to, because of their varied situations and how they would approach the opportunity. For example, the 20-something who shops bulk for the environment is much different than the 35-year-old male who shops to save. However, they're both shopping bulk for their own reasons, and this in turn creates a business that is profitable in all aspects. I was surprised that, although some customers cared more deeply than others, how all were worried about our environment. Even the savings customer, who wasn't there primarily, still highlighted the impact her shopping had on the environment, and showcased that anyone who shops bulk has a secondary reason to do it. The evidence by these customers still makes me feel as though bulk food stores are a viable opportunity and are only growing in size and popularity.

SUMMARY

A lot of my original opportunity is still here. At the beginning, I stated that starting more bulk food stores would ultimately be a good form of cash flow in the long run. I still believe this, even after talking to a few customers. But of course, I think the opportunity has changed from the beginning. I think possibly marketing bulk food stores to specific audiences would be much more effective than trying to compete with food titans like Publix or Costco. And I do think that adaptation is a huge part of entrepreneurship- there are always curveballs when starting a business, and you can either roll with the punches or give up. I believe after talking to prototypical customers, I've seen some curveballs in the industry, but I wouldn't give up on the idea and ambition to take hold of the opportunity.