Prepare to be dry ass raped in taxes. I own 2 small businesses (3 if you count the LLC for some rental property) and the amount of taxes we pay is unreal. Get a lawyer to get an LLC or similar set up for you to indemnify you against lawsuits against your business regardless of what type of business it is. If someone falls in your store, they can sue you and your business and you can lose your car, home, everything. An umbrella insurance policy is handy too. Having an accountant is not compulsory but it helps, especially if you are going to have employees. Hoblick made a lot of great points too. Starting a small business is hard but rewarding work. If you want to pull down big bucks, you are going to have to sacrifice and work your ass off for a while and often time wondering if it's even worth it.