I am analyzing my own business which will be a Gym. I'm looking for some examples and advice to help me get started on a paper.

-Would you suggest I organize the business as a sole proprietorship or a corporation? How come?

-How could my business be started up or formed? What steps should I take to ensure proper formation (creation)?

-What would be some of my own personal liability for any debts incurred by the business. Could I protect my personal assets be safe from creditors? What are some options for protecting your personal assets?

If you use any resources, please provide them so I can look at them too to use my own words.