I'm already set on the product I want to sell and I'm already almost done designing the website. I also already have a huge meme page on instagram with over a million followers which I will advertise my product on. I just need a checklist of what kind of legal requirements I will need to start this business. What kind of licenses, ID's, etc do I need? Also do I go in as a Sole Prop or as an LLC. For background info I'm going to be selling fake airpods. I also might advertise gaming mice / headsets on my youtube channel.
This is Max from the Shopify Team. Glad to hear that you've cultivated such a big following! That's a really challenging feat.
The main requirements I would encourage you to look into off the bat are in regards to terms of service with your payment provider and platform. See if the plans you have for your business comply with their restrictions. These could require some more proof of identity to get started or along the way.
For any legal advice, I'd suggest checking this out with a local expert. Each country, and region has their own rules and best practices for businesses. Deciding on how you'd like to register your business is something that might also affect your taxes, so, reaching out to an accountant, or reading up on best practices could also be of help. I'd direct you toward some local government sites and small business groups or associations for some more relevant expertise!
All the best with your shop!