Invest Fest 2024 took place from August 23rd to 25th and brought together over 400 vendors across various fields such as retail, development, AI, health and wellness, and more. It was an exciting opportunity to connect with a diverse group of businesses and explore potential partnerships that align with our goal of generating tenant fit-out clients.
Our approach was to establish meaningful introductions with businesses that seemed in line with our objectives. While we initially planned to strategically target specific vendors, we found ourselves naturally following the structure of the event, engaging with each business as we moved down the rows. Our strategy was to be forward yet respectful, allowing each business to introduce themselves before sharing a bit about who we are and what we do at Scottmoore. I [Kaitlyn] emphasized our mission of "making business owners' dreams a reality by designing their dream spaces," which resonated well with many of the vendors.
During our interactions, we encountered several business owners currently operating in the online space who are working towards expanding into brick-and-mortar locations. These businesses were smaller and primarily retail-focused, and we made sure to exchange contact information for future opportunities. Interestingly, we also met with businesses that had downsized from physical locations to online operations. This trend seemed driven by various factors such as financial constraints, team dynamics, and market transitions. Some of the other reasons could include scalability, pandemic impact, increased flexibility, and cost savings—factors that are reshaping how many businesses operate today.
Oel, focusing on connecting with potential investors, had some successful interactions, including with a supply chain industry leader who could become a valuable asset. He also conducted an interview with The Tycoon, who expressed interest in possibly working with architects outside his current network. This could open up new opportunities for us in the real estate development sector.
As we reflected on our experiences and observations, a pattern emerged regarding the challenges faced by many black entrepreneurs. We noticed that while these businesses often had a strong product or service, many lacked the broader network and holistic support needed for long-term success. This led us to discuss the concept of the "scam," where businesses push a product so hard that they miss out on other opportunities or lack a solid understanding of what they're selling. This insight highlighted the systemic disadvantages many black entrepreneurs face and sparked a conversation about the opportunities for us to support these businesses through our expertise.
One idea that particularly stood out was the potential for Scottmoore to design vendor booths for events like Invest Fest. Some setups, such as those by Marathon Run Club, The Tycoon, and Selling Dubai, were particularly impressive with their creative signage, interactive components, and overall attention to detail. This could be an exciting avenue for us to explore, allowing us to showcase our architectural creativity beyond traditional building design.
In addition to designing vendor booths, we also discussed the possibility of collaborating with event hosts like EYL to create innovative event spaces. This would not only enhance our business portfolio but also allow us to apply our architectural skills in new and creative ways.
Overall, Invest Fest 2024 provided us with valuable insights and connections, and I'm excited about the potential opportunities that could arise from our participation. I look forward to discussing these ideas further and exploring how we can continue to expand Scottmoore's reach in new and innovative directions.
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