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Social Media monetization & Instagram Business questions

My son has a pretty significant little following on Instagram and is growing daily. Recently he was asked by a few ppl about collaborations and what he might charge. I've read about converting to a business account for the analytics etc but if this is something he pursues and it begins to take off, should he do anything in terms of incorporating or LLC type things?

Or should he upgrade to a Creator account? What are the major differences

I don't think he simply wants to give out his Venmo/Paypal etc.. or does he ? I'm trying to guide him but it's beyond my technical area at this point so trying to learn

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Any help is appreciated

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