My daughters are opening up a small dance studio. They have approximately 70 students signed up. They will hold dance classes and the money brought in will be used to pay rent, utilities and buy music. They will split everthing down the middle after all expenses are paid and a portion is put in the bank for advertising, etc. What is the best way to set this up -- as a sole proprietorship for each one or would it be a partnership or is there something other way. What would be best?