BUSINESS IDEA PROPOSAL: Individual Assignment $1(10\%)$Due Date: Prior to class Week $3$ A business ideal proposal is a brief summary of your overall business concept. It should contain the core concept of the business idea its product$/$services$,$ target market, value proposition, and means of generating revenue. Specific operational and financial details are not required. The general purpose of the business idea proposal is to attract the interest of potential investors with an aim to entice them to gather additional information regarding your business.Based upon the below template, write a proposal covering all the points given.Proposal Restrictions$1.$ Must be a start$-$up business venture $($not currently operating$)2.$ Must not be a franchise or a not$-$for$-$profit organization$3.$ Business should be located in the Greater Toronto Area$4.$ Owner is the manager and also supplies the majority of the start$-$up funding$5.$ Year $1$ gross revenue is not to exceed $$100,000$ Report PresentationMain headings Arial $12$ point fontBody copy Arial $10$ point font$1\mathrm{.}5$ lines spacing$1\mathrm{.}5$ margins all around written copyMain headings should be underlined and boldSub headings should be bolded$4$ pages in length $($excluding cover page$)$Cover page should have title $($Business Idea Proposal$),$ description of the product$/$service$,$ Professors name, students full name and student number and date of submission ASSIGNMENT $1$: BUSINESS IDEA PROPOSAL $(10\%)$ NOTE: Please use all headings and questions when creating your reportBusiness Concept Overviewa. What are the products and$/$or services to be offered $($max$.$ of three products or services?$)$b$.$ What are the proposed names of each product$/$service$?$c$.$ What are the features, advantages and benefits $($FAB Chart$)$ of each product$/$service$?$Target Marketa. Who is the target market? $($Please use five market segmentation variables to describe$)$b$.$ Why did you choose this target audience?c$.$ What do you currently know about the target audience?d$.$ How does the products$/$services relate to them? Value Propositiona. How will the product$/$service benefit consumers?b$.$ Why will the customer pay for it$?$c$.$ How is the competitors $($top three$)$ product$/$service similar to yours?d$.$ How are your products$/$services different from your competitors?Revenue Modela. What is your estimated cost and selling price for your product$/$service$?$b$.$ Does the market for your product$/$service have potential growth? Why?c$.$ What additional products or services to you plan to offer in the future to increase revenue?Presentation of Written Report$-$spelling, grammar, sentence structure, formatting and visual appeal