Step 1: Identify a local business (retail store, bar, restaurant….), not a natio

Step 1:
Identify a local business (retail store, bar, restaurant….), not a national chain. Observe the business from the vantage of a customer, which means you need to visit the business, consider purchasing (even if you don’t actually purchase). Do not talk to the owner of the business right away and identify the purpose of your visit (i.e. writing a paper). Try to develop an understanding of the business model – what are the sources of revenue, what could be the costs, what is the nature of customer service, what are the features of the business, the facility etc.
Step 2:
Write a description of the business model. Then come up with some ideas that have an effect on:
Sales
Costs
Margins
Step 3:
Consider yourself as the owner of the business:
Identify a problem (opportunity) – Evaluate the opportunity based on desirability and feasibility.
Come up with your solution.
Seek feedback from your instructor.
Step 4 (After feedback from instructor):
Prepare a presentation of your report (record your audio) and submit the report along with your presentation (PPT/Google Slides) – 10 minutes for the presentation.
Share your report with the business owner (optional). Seek feedback and revise your report. No limit, but I do not expect more than 3 pages.