7A Testing The Hypothesis, Part 1

Opportunity: The opportunity I would like to pursue is the amount of retail vacancies during and after the covid-19 crisis. With companies being shut down and not being able to come up with rent money they are forced to vacate their retail space leaving an opportunity for a retail leasing broker to quickly fill the abundance of vacant retail space. 

The Who: retail companies looking for space to start or continue their businesses.

The what: They are looking for new space to begin or continue to grow their company. 

The why: corona virus has left many retail stores bankrupt leaving open and available space for others to come in and start paying rent. 

Hypothesis: Retail companies in Tampa, FL will quickly begin looking for retail space so that they can begin or continue their businesses. 

Testing the who: There are most definitely others who have this need, as vacant retail space all across the world has resulted from the covid-19 crisis. However, I will be working in Tampa, FL so I will only target companies in Tampa who need to fill space. 

Testing the what: Many companies have vacated their retail space as business have been forced to shut down due to COVID-19. I can test the validity of this opportunity by placing leasing signs outside or retail centers and by calling on potential retail tenants. 

Testing the why: Tons of retail stores have been impacted by the covid 19 crisis. This is an opportunity that pertains to every retail company because without space to do business, there will be no business.  

Interview 1: I asked my step mom who rents out office/retail space in tampa, fl if she had been impacted by the crisis. She answered yes and might be forced to vacate her retail space if she can't come up with rent money.

Summary: after all 5 of my interviews, I realized that there is a growing need for retailers to get back on their feet and continue growing their businesses. Because of this, I will start prospecting many retailers in hope that they chose me as their broker to find new space.

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