We are seeking a skilled and experienced Market Researcher to conduct an in-depth market analysis for a new Kratom/Kava bar. The primary objective of this research is to provide a comprehensive market research report that will guide the establishment and successful operation of the bar. The Market Researcher will be responsible for gathering and analyzing data related to competitors, locations, demographics, operations, wholesale inventory, purchasing, legal considerations, and other relevant factors.
Responsibilities:
Competitor Research: Identify and analyze existing Kratom/Kava bars in the Brickell, Wynwood, and Midtown areas of Florida, as well as potential alternative locations. Assess their strengths, weaknesses, pricing strategies, customer base, marketing approaches, and overall market share.
Location Analysis: Evaluate the suitability of the current proposed locations (Brickell, Wynwood, Midtown) based on factors such as foot traffic, proximity to target customers, accessibility, competition density, and any other relevant parameters. Explore alternative locations if research suggests better opportunities.
Demographic Study: Conduct an in-depth demographic analysis of the target market in the selected locations. Identify the key consumer segments, their preferences, purchasing power, age groups, lifestyles, and any other relevant characteristics.
Operations Assessment: Investigate the operational requirements for running a Kratom/Kava bar, including staffing needs, licensing and permits, equipment and supply chain considerations, health and safety regulations, and potential challenges associated with the business model.
Wholesale Inventory Research: Identify and establish relationships with potential suppliers of Kratom and Kava products. Analyze their product quality, pricing, delivery capabilities, and terms of partnership to ensure a reliable and cost-effective supply for the bar.
Purchasing Analysis: Develop a comprehensive understanding of the purchasing habits and preferences of the target market. Determine optimal pricing strategies, product offerings, and promotions to attract and retain customers.
Legal Research: Investigate and analyze the legal and regulatory framework surrounding the sale and consumption of Kratom and Kava products in the target locations. Identify any licensing, labeling, or compliance requirements that must be adhered to for the bar's operation.
Additional Recommendations: Provide any additional insights, recommendations, or suggestions based on the research findings that may contribute to the success of the Kratom/Kava bar. This may include marketing strategies, branding considerations, customer engagement techniques, or any other relevant areas.
Requirements:
- Proven experience in market research, preferably in the food and beverage industry.
- Strong analytical skills with the ability to interpret complex data and draw actionable insights.
- Excellent written and verbal communication skills to present research findings in a clear and concise manner.
- Proficiency in using market research tools, databases, and analysis software.
- Knowledge of the Kratom and Kava industry, market trends, and consumer behavior is desirable.
- Ability to work independently and meet deadlines.
To apply for this position, please submit your resume, a cover letter outlining your relevant experience, and any sample market research reports you have previously prepared.
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