How to set up a record label in Germany?

A friend of mine, just moved here, would like to open a record label.
Well, I told him it's more or less a suicide, but he'd like to have one at least for his own releases. He's already registered as musician here in Germany, and has a steuernummer for that.
Which are the next steps?

Thanks!

I would have thought that if he doesn't know the steps involved in setting up a record label then he shouldn't be doing it. Doing anything in business is a financial risk, doing something you know fuck all about is suicide.

If he keeps it as a small-scale bedroom business and doesn't invest much money in it, then let him do it. The beauty of selling MP3s is no capital outlay, so dissuade him from producing vinyl or CDs. If he's selling the music he created himself as MP3s via online music stores, then there is very little financial risk. If he starts signing other artists' music, then he needs to be more careful.

So other than that, the process is the same as setting up any business... register with the Finanzamt, get a tax number, etc. Lots of general threads on Toytown already about setting up businesses.

He's not going to get rich, but it will keep him off the streets and maybe earn him some pocket money.

That was useful assistance. I bet it was appreciated. In fact it sounded just like my mums advice when I once (foolishly) bought a restaurant.

Wise words to my ears. But what if he already has registered with Finanzamt as musician (with a related tax number)?

I'm not an expert, but I think these are two different things; one is a freelance thing and the other an actual business. He'll have to register as a business and file annual tax returns.