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B) CHOOSING A NAME - You could start your web business as a third party on a free web site such as the one at max-info.com/myfree.html, but this will only cloud your dream. You need to be legitimate on the internet with your own domain name. Preferably a .com name.
Your business name and your domain name do not have to be the same, but your domain name should reflect the type of business you are conducting. Take KnifeCollection.com (Site is for sale). The name clearly tells customers, and more important, search engines what the web site is all about.
As you look for your domain name you will find that .coms are getting hard to get. Short names are almost impossible and the shorter your name the better. A good way to figure out a good productive name is talk to your friends about your product(s) and make a list of the keywords they tell you when they think about your product(s). As soon as you find your name remember to register it as fast as possible before it gets taken.
C) LOCATION - Before you register your domain name you need a place to host your name and future web business. Internet web hosts are easy to find and vary greatly in cost and service, so look around at your options before you comit to a host.