Whats Next? - 25A
Existing Market
What's next entails the following:The firearm industry is moving into more adaptable building of firearms as opposed to buying an assembled gun from the store.
Customer #1:
Q: What do you think the next step is for my business?
A: The next step might involve getting a feel for what additional parts consumers want on their firearms, such as sights, stock grips, or larger magazines.
Q: What should we focus on as a business?
A: You should focus on getting all your regulatory bases covered with the government. I know people who haven't done that and they learn a hard lesson.
Customer #2:
Q: What do you think the next step is for my business?
A: Your next step should be attaining legal permits to buy wholesale items from larger companies
Q: What should we focus on as a business?
A: You should focus on keeping your overhead at the lowest possible point with shipping loopholes, promos, etc..
Customer #3
Q: What do you think the next step is for my business?
A: Definitely surveying your customer base to see if it is a viable area to conduct such a business
Q: What should we focus on as a business?
A: Marketing tactics by employing all social media outlets and news flyers to let people know.
I learned that its important to branch out and look at other avenues with which to grow my business. Most people won't see the value if I just tell them that my product is quality and lower-priced.
New Market
The new market I have identified would be supplying larger companies with firearms that have had extensive remodeling done and are "works of art."
Customer #1:
Q: Do you think my business can help you?
A: I think so. I'm looking for firearms that not only shoots exceptionally but also looks really cool and futuristic.
Q: Should I change anything or add anything onto my guns?
A: No, not really, it looks like you have a pretty good idea of what we want to sell to the new generation of people old enough to purchase a firearm.
Customer #2:
Q: Do you think my business can help you?
A: Possibly. We already have suppliers that are doing a pretty good job as it is. However, we do need more people who are knowledgeable about firearms.
Q: Should I change anything or add anything onto my guns?
A: Consumers these days are looking for nice-looking guns rather than sturdy or great engineering features. So, you should pursue how to make your firearms look aesthetically pleasing to the average new consumer.
What surprised me the most is that people my age now want things that only look good, and value or quality is second. This new market does not seem to be as attractive because I'm an old-head and tend to look at the tried and true weapons that have been used for decades in warfare/personal safety. I'm going to stick to my original market and focus on the tactics listed above.
Hey Luke, I agree with what you said about not wanting to expand into this new market you recognized, but for different reasoning than personal feelings towards firearms. I feel like your original business model would work best in Gainesville because there are many people here that would be interested in classic weapons and not so much fancy-looking futuristic ones.
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