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I would like for answer to be relating to the beauty industry if possible.Part 1 Assignment – Homework Activity: Choose a Business IdeaThe assignments in this course build and expand on a small business or startup idea to research and get feedback on. In this activity, you will submit your business idea for approval. Be sure to consider the following before you submit your idea:In one paragraph,      explain why you chose this business idea and why it could be successful.Feel free to submit a       business you have already launched or one for which you have already       begun planning.Do not select a       business that is already a major corporation (for example, Tesla, Uber,       or TGIF). Choose a business or side gig that you might actually       start.Please do not use a       not-for-profit venture as your business idea. These types of entities do       not match up with the overall structure of this class.Once approved, this      business idea must be used in all the assignments.Part 2Which business model is best for your business? In 1–2 pages, describe three different business models and then select the best model for your business. Finally, explain why this is the best model for your business.InstructionsWrite a 1–2 page paper in which you:Briefly describe three      different business models.Write one paragraph for       each of the three different business models.Choose the best business      model for your business.Create a short statement      explaining why the business model you have chosen is the best model for      your business. Give at least three supporting reasons or facts for your      choice.

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