A couple of questions about clients

hi

I’m new to these forums and relatively new to flash but not webdesigning. When you create a website for a client do you use your own webspace? or do you use a third party to sign them up for thier own space? And would anyone know how to go about in creating an infrasturce of payment online, shipment and delivery?

I am only in a first year unversity of an IT program and I just mentioned this to a friend and he recomended me to a guy who owns a small buisness. This guy wants to go online yet knows nothing about computers. He is offering me 1500 cdn for this entire project. It’s a great opportunity to get my foot in the door… but i think this may be over my head. The guy is giving me two weeks to decide wether or not to take this on. Guidance from any proffesionals would be greatly appreciated. I do not want to let this opportunity pass by =)