Becoming your own domain name registrar?

http://www.icann.org/en/registrars/accreditation-process.htm

There is a process and its not free

$3500 non-refundable application fee

Then there are guidelines including being able to handle the load, proving that

http://www.icann.org/en/registrars/policy_statement.html#IIA

Statement of Minimum Qualifications for Accreditation

An applicant for accreditation must demonstrate that it likely can perform its obligations as registrar by showing in its application for accreditation that it possesses the qualifications set forth in Section II.A below. Even where such a showing is made, ICANN may refuse to accredit a registrar if any of various conditions that reflected negatively on the application arise, as set forth in Section II.B below. In connection with termination of accreditation, ICANN may disqualify a registrar or related persons, either permanently or for a stated period of time, from involvement with accredited registrars, as set forth in Section II.C below.

Qualifications

To qualify for accreditation as a registrar, the applicant will be required to:

In the case of applicants for initial accreditation, demonstrate to the satisfaction of ICANN current business capabilities (including management, communication, and information systems), or submit information (such as a reasonably detailed business plan) sufficient to show the ability to develop capabilities by the commencement of operation under accreditation that, in ICANN's judgment, are reasonably suited to:

Provide the applicant secure, authenticated access to the registry.

Provide robust and scalable operations capable of handling the registration volume reasonably projected by applicant.

Allow for prompt handling of second-level domain ("SLD") holders' requests for changes in registration data.

Achieve a reliable and readily usable daily data backup and archival of all SLD holder and registration data.

Maintain electronic copies of all transactions, correspondence, and communications with the SRS for at least the length of a registration contract.

Provide procedures for information systems security to prevent malicious or accidental disruption of the applicant's operations.

Meet the applicant's obligations under its accreditation agreement.

Provide procedures that permit applicant's customers to change registrars without interruption in use of the assigned domain name.

Have the capacity to engage a sufficient number of qualified employees to handle the registration, update, and customer inquiry volume reasonably projected by applicant. The equivalent of five full-time employees or more will be deemed sufficient, although a lesser number of employees will be accepted upon a showing that it will be sufficient in the circumstances.

Ensure that the registrar's obligations to its customers and to the registry administrator will be fulfilled in the event that the registrar goes out of business, including ensuring that SLD holders will continue to have use of their domain names and that operation of the Internet will not be adversely affected.

Applicants for initial accreditation seeking to demonstrate current business capabilities meeting the above criteria may do so by submitting an independently verified or verifiable description of the applicant's business, such as audited financial statements or annual reports of companies with publicly-traded securities. Applicants for initial accreditation submitting comprehensive business plans to develop capabilities by the commencement of operation under accreditation may do so under appropriate assurances by ICANN of confidentiality of the plans.

In the case of applicants already operating as registrars accredited by ICANN, demonstrate that they are meeting the requirements of 1(a)-(j) in their existing registrar businesses.

Offer to agree to have, and demonstrate an ability to obtain, commercial general liability insurance in effect during the accreditation period in an amount sufficient, given the registration volume reasonably projected by applicant, to provide domain-name holders reasonable compensation for losses caused by the applicant's wrongful covered acts. A policy limit in the amount of US$500,000 or more will be deemed sufficient, although a lesser limit will be accepted upon a showing that it provides for reasonable compensation in the circumstances. A certificate of insurance need not accompany the application, but must be presented as a condition of accreditation becoming effective.

Demonstrate that it has adequate working capital available for the operation of the registrar business, given the registration volume reasonably projected by applicant. For applicants seeking initial accreditation, demonstration of the ability to procure liquid capital immediately available in the applicant's name at the commencement of the accreditation period in an amount of US$70,000 or more will be deemed adequate, although a lesser amount will be accepted upon a showing that in the circumstances it will provide adequate working capital. Evidence of independent verification of the capital (such as by guaranteed bank loan or by a guaranteed credit line or letter of credit from a recognized financial information) need not accompany the application, but must be presented as a condition of accreditation becoming effective. For applicants with existing registrar businesses, or proposing to convert their existing domain-name reseller businesses to registrar businesses, an independently verified financial statement (such as by an accountant's audit) showing the working capital devoted to the business should be presented with the application.

At the time of the application, hold an existing and operational SLD (or third level domain if operating under an ISO-3166 country level domain).