SETTING OUT YOUR BUSINESS AIMS
At the start of your franchise you'll sit down together and set your business aims: short and long-term goals, how many classes per week/month you want to run (minimum 4 per your agreement, but timetable is up to you), a look at other local children's activity providers, whether you might take on teachers later, and which class types interest you most (SEND/nurseries/regular weekly classes).

SETTING UP AS SELF-EMPLOYED
We recommend initially setting up as self-employed/sole trader. You keep all profits after tax, are personally responsible for losses, and must follow HMRC's rules on running and naming your business (register via Self-Assessment). You can trade under your own name or 'trading as' plus your territory, e.g. 'Gary Barlow Trading as Baby Band Frodsham'. Seek specialist legal and accounting advice at setup.

SETTING UP AS A LIMITED COMPANY
A limited company is legally and financially separate from the people who run it, with shares and shareholders, and pays Corporation Tax on profits, with directors taxed personally on income drawn via self-assessment. You may choose any available company name, but cannot use 'Baby Band' in it.

VAT REGISTRATION
Not mandatory unless your VAT taxable turnover exceeds £90,000pa, though you can register voluntarily below this threshold. Discuss the VAT Annual Accounting Scheme vs Flat Rate scheme with your accountant based on your business plan.