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Coach Tom Berry, founder of Youth Hoops Academy, discusses five crucial steps to set up a basketball camp business. First, establish your legal structure. Second, obtain and register a domain name. Third, create a custom email address. Fourth, set up a business checking account. Finally, establish merchant accounts for transactions. Berry emphasizes that while it's important to have the legal structure in place, the key is to start running camps first. Many people get stuck in planning and delay action; instead, focus on getting started and refine your setup as you earn income.