Hi Spadoukie,
Questions like this may be a bit beyond the scope of the community - you may need to do a bit of research and possibly require some legal and accounting advice to ensure that you're on the right track. For starters, check out this site for some starter details. Also search on "how do I setup a co op business ownership" as you will find additional info. One item I noticed was you may have to plan on incorporating your business - this is a lot more work as compared to Sole Proprietorship or an LLC. Just some things to consider.
jk
