How would you go about selling a product on the street?

After watching the apprentice and having enough of Sir Alan implying it really isnt hard to make money i was wondering what it would take (financially & legally) to make a product and go out to a good location and sell it. what permissions would i need, how long would it take? would i need to be a registered company or have some sort of licence? I just really doubt its a simple as Sir Alan says. Would love to hear your views.
Feel like i should say this is for the UK and so am looking for british regulations and was thinking of doing this in Brighton or London. Thanks!

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