Apply as an individual/sole proprietor, or form an LLC or other type of corporation.

Not only will you need to be an FFL 07, but you will also need to pay the class "2" SOT ($500/yr if you're < $500,000 gross revenue).

Now is a good time to apply for your FFL as by the time it arrives (60-90 days from mailing the application) you'll be right at SOT renewal time (June). The SOT is not prorated, so you'll want to pay it as close to June as possible to maximize the value of the tax paid.