In your class you will need to write a business plan. In order to do so, there is plenty of research involved.
The small business I will be researching is a yarn shop called Yarn Bomb. A yarn bomb is a public object (a tree, a bike rack, a parking meter, etc) that has been wrapped in yarn. This business will cater to knitters, crocheters, and fiber artists of all ages and will sell yarn, patterns, and fiber art accessories (knitting needles, crochet hooks, etc).
I will proceed through the research with this as the example.
I also will now be looking for things to yarn bomb. ;)