Per Madison Franco's recommendation to talk to a lawyer, I reached out to Ronda Harkey to receive advice in the legality of creating a small business.

She was very lovely, and helped guide me on each task and the appropriate way to approach them. Specifically, she helped me with my Terms & Conditons as well as my Privacy Policy. 

Having a website that will hopefully receive website traffic and payment transactions, it is vital that I ensure that my website is safe and secure, protecting not only myself but my consumers.