Make a list of possible names for you record company. Pick names that are easy to remember and indicate that you release records. Avoid choosing anything that is too long or abstract.
Apply for a fictitious name statement. Obtain and file these papers at a country registrars office. Filing fees for a fictitious name statement are usually under $100 in most areas. You will receive a "doing business as," or DBA, statement in the mail once the process has been completed.
Open a business checking account. If you are working alone, you may choose to use the same bank where you have personal accounts to simplify things. Most banks require a copy of your DBA statement to open an account.
Find a space to run your business. Many start-up record companies first operate out of homes or apartments. Have enough room to store records and promotional materials. Once the business grows, look to lease professional office space.
Acquire a tax identification number from the Internal Revenue Service. If you do not have employees, you do not need to get a tax ID number, as your Social Security number can be used. However, you may choose to get a tax ID number to protect your Social Security number and identity. Tax identification forms can be found in libraries and at IRS offices.
Obtain a retail license to sell records directly to fans. Retail license applications can be found online at state government Web sites.
Contact local independent record stores to see whether they will place your records in their store. Many independent stores welcome new music and will take music on consignment.
Promote your music on social networking sites like www.facebook.com and www.myspace.com. Upload music samples so people can hear what your label is releasing.
Pass out fliers at live music venues before and after shows. Try to choose shows for artists in the same genre to the music you are releasing.