Forming a label and selling music is doing business. You will need to take care of some basics: (i) decide what type of business formation to use (DBA, partnership, LLC or corporation), (ii) come up with a cool name/logo, (iii) obtain a business license from your county, (iv) open a bank account, (v) print up business cards and stationary, (vi) obtain UPC and ISRC barcode(s) for your label/product, and (vii) find a retail and online distributor (or you and the bands can sell independently until a distributor cares).
Ben Mclane, Esq
benmclane.com
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