Collapse DetailWeb site first or business registration first?

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riend of mind started a web site and he believes that eventually it will become a profitable business. However, he has no intention of register it as a business yet.
I am planning to start a web site or multiple web sites and allowing people to sign up and share their photos. I am hoping it will attract enough attention and provide me with proven traffic data for advertisers.
My questions are:
1. Shall I register my web site as a business after the first advertiser sign up?
2. Shall I register a marketing company to manage multiple web sites?

Thank you.

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