What options do I have beside keeping money in a low interest rate savings account ?

Some aspects to consider are licenses required, zoning laws and other regulations that vary from state to state and business to business. Depending on the type of business you are running, you may also need establishment licenses, liquor licenses, delivery and or transport licenses. Your local SBA office or chamber of commerce will provide you with general information. You must decide about your form of organization. You must choose to be a sole proprietorship, corporation, s-corporation or partnership. Speak to your local CPA for advice specific to your business and location.