Identifying how "costs" impact your business; the difference/similarity between "costs" and "expenses"

Kickboxing Franchise and identify the following costs associated with your endeavor:

Incremental (marginal), sunk costs; opportunity costs; direct and indirect costs. So the layout for this assignment is to present a short paragraph describing your type of business, then identify the aforementioned costs and how they pertain to the business. Lastly, what's the difference between "costs" and "expenses" as they both pertain to accounting -financial and managerial?