Step 1: Using all available resources, complete the one-page Business Model Canvas for ULTA Beauty (NASDAQ: ULTA) as it operates today. The Business Model Canvas can be found on page one of the attached template. This portion of the assignment should not exceed one page. Descriptions and questions prompts for each element of the model are include on pages two and three.Business Model Canvas
Key Partners	Key Activities	Solution & Value Proposition		Customer Relationships	Customer Segment & Problems
	Key Resources			Channels
Cost			Revenue

Revenue Streams: Result from Value Propositions successfully offered to customers.

Questions to ask:

1. What are customers really willing to pay for?
2. How are they paying?
3. How would they prefer to pay?
4. Is revenue generated transactional or recurring?
5. For what value are customers really willing to pay?
6. How much does each Revenue Stream contribute to overall revenue?

Key Resources: Assets required to offer and deliver the previously described elements.

Questions to ask:

1. Which resources underpin the business model?
2. Which assets are essential?
3. What Key Resources do the Value Propositions require?
4. What Key Resources do the Distribution Channels require?
5. What Key Resources do the Customer Relationships require?
6. What Key Resources do the Revenue Streams require?

Key Activities: Required to deliver the Value Proposition.

Questions to ask:

1. Which activities are needed to perform well in the business model?
2. What is crucial?
3. What Key Activities do the Value Propositions require?
4. What Key Activities do the Distribution Channels require?
5. What Key Activities do the Customer Relationships require?
6. What Key Activities do the Revenue Streams require?

Key Partners: Some activities are outsourced, and some resources are acquired outside the enterprise.

Questions to ask:

1. Who are the Key Partners?
2. Who are the key suppliers?
3. Which are acquired from partners?
4. Which Key Activities do partners perform?
5. Which partners and suppliers leverage the business model?
6. Who does the organization rely on?

Cost Structure: Business model elements result in the Cost Structure.

Questions to ask:

1. What are the most important costs inherent in the business model?
2. Which Key Resources are most expensive?
3. Which Key Activities are most expensive?
4. What is the resulting cost structure?
5. Which key elements drive your costs?