4A – Forming An Opportunity Belief

I believe there is an opportunity available in Gainesville, Florida for a smart investor who is willing to invest in opening/building a new bar in the Midtown area. Many bars have closed or been shut down over the past couple of years, and it has created a problem for the citizens of Gainesville who enjoy going out and meeting friends for drinks or socializing. The need for this bar has developed over the past couple of years. To compensate for this need, other Midtown bars have been packed over capacity because of the amount of people who still want to go out at night. The prototypical customer is a college student or young adult, age 18-26, and both male and female. I am about… 80% sure this opportunity exists.

#1. 21 year old female, in a sorority.

• How often do you go to Midtown to meet up with friends to socialize or drink?
• Once a week, maybe twice max.
• When did you first become aware of the issue of Midtown bars closing?
• I heard about Cantina 101 closing, but I never really went there that much. Then I noticed a few other bars closed shortly after that.
• Do you think there is an unmet need resulting from the closing of three bars in Midtown?
• I guess so. Like I said, I don’t go to Mid very often. I can see why it would be a problem for people who enjoy going out more often than I do.
• Has a line outside of a bar ever discouraged you from going to that bar?
• Yes, definitely. I don’t wait in lines, mainly because I chose to go to bars that are less crowded.
• Do you think you would be more or less inclined to go to Midtown if a new bar was opened?
• Personally, that wouldn’t change my mind. I have a busy course load this semester and I also have a job, so I am busy most nights.

My interview with this person was interesting because she had no opinion nor did she care that much about this opportunity. She was definitely not the prototypical customer, although she met all of my initial identifiers. This proved Professor Pryor’s point that just because it seems like an opportunity to you, it doesn’t mean that everyone will react the same way.

#2: 20 year old male, in a fraternity, who attends Midtown regularly.

• How often do you go to Midtown to meet up with friends to socialize or drink?
• Two to three times a week, depending on how busy I am with school or if we have a social. Every weekend, too.
• When did you first become aware of the issue of Midtown bars closing?
• I witnessed Cantina close (RIP) and also Copper Monkey. I don’t understand why they both shut down, because they both had pretty good nightlife and regular crowds.
• Do you think there is an unmet need resulting from the closing of three bars in Midtown?
• Definitely. If you don’t get to Midtown before 9pm, good luck getting into any bar. I wish I was joking.
• Has a line outside of a bar ever discouraged you from going to that bar?
• The lines suck but I always wait them out or pay to skip the line. You have to do what you have to do.
• Do you think you would be more or less inclined to go to Midtown if a new bar was opened?
• A new bar would be an awesome addition, but I heard it’s not going to happen anytime soon.

This interview was a little more telling and he confirmed my opportunity theory. He frequents Midtown more regularly than the first woman interviewed, so it makes sense that he agrees with my belief that an opportunity exists.

#3: 23 year old male, in law school, who attends Midtown regularly.

• How often do you go to Midtown to meet up with friends to socialize or drink?
• Every weekend, and sometimes once or twice a week just for a casual drink.
• When did you first become aware of the issue of Midtown bars closing?
• I’ve been around Gainesville for a while now, six years to be exact, and I’ve seen all of the bars close due to competitors, landlords, or just not making enough profit.
• Do you think there is an unmet need resulting from the closing of three bars in Midtown?
• Yes, it’s really unfortunate that these bars were closed because other Midtown establishments are now having to overcompensate for the people who would have gone to those bars. Midtown gives me a headache now, and I only go to the two bars that are strict enough to know a fake ID from a real one.
• Has a line outside of a bar ever discouraged you from going to that bar?
• I tend to avoid Midtown when the lines are at their worst, but yes I have been discouraged before. I’m smarter about when and where I decide to go.
• Do you think you would be more or less inclined to go to Midtown if a new bar was opened?
• I would be more inclined to check it out and give them my business. Anything to get rid of the underage people trying to take my seat in Salties.

This interview was interesting because he has been in Gainesville long enough to remember what it was like before the three bars at Midtown shut down. He even commented on the issue of fake IDs and underage people going out to bars, which has definitely increased the amount of traffic Midtown has seen.

My opportunity belief changed slightly during my first interview, but after interviewing the second two gentleman, I still believe there is an unmet need in our community. However, I do not know if it is more or less accurate after conducting these interviews. Entrepreneurs definitely have to be flexible and adapt their opportunities to customer feedback. In order to create something that has both relevance and potential for demand, you need to adapt to your customers needs and evaluations to develop an idea that is worth their investment.