24 Aug 1. BP Proposal: Your Start- Up BusinessFor this class, you w

1. BP Proposal: Your Start- Up BusinessFor this class, you will be ‘starting’ a business of your choosing, so you must decide what business you are interested in and submit a proposal with a brief description for approval.The constraints in selecting your business include:constraints in selecting your business include:Your business must NOT be a seasonal business.You cannot use a franchise.Your business cannot be an ‘Online business.Your business must be a for-profit business.You must have face to face interaction with your customer.Be sure to select a business that you are interested in, as you will be doing research all semester on this particular industry.Submit your proposal as a short memo (business format) describing what your business will be, where you will be located and any additional details such as; will it be a home based business or storefront?   Read this Business Plan Criteria document which includes business plan and presentation information.This is the link to the SCORE Business plan templateActionsused as a resource in creating your plan.  (SCORE: Service Corp of Retired Executives- all volunteer, free and confidential business counseling for anyone interested in business!)  Use the website: https://www.score.org/resource/business-planning-financial-statements-template-gallery (Links to an external site.) Use to reference/link out from for your business plan template and other finical statement templates. Your business MUST be approved by me.  BE SURE TO COMPLETE THIS ASSIGNMENT AS WELL! 2. Complete Key Concept Questions in back of text chapter:2-6: Explain why a prospective business founder might want to create a feasibility study or Business Model Canvas before developing a complete business plan.2-7: How can spending time researching and writing a business plan save an entrepreneur time and money in the short and long term?2-9: Explain why the executive summary is the most important section of any business plan.