Yes, they CAN, but that does not ensure that they will be prestigious journals. I think that many of the predatory journals were just something that somebody created to make money. And of course, any business undertaking would likely need to be incorporated.
Maybe it is more important that there are people with valid academic credentials in charge.
An individual can start a journal publication as a business manager. A group can also start one. It is not mandatory that the person(s) must be a professional(s) in the area but what is important is the quality of the review editors and the editor in chief, who must be professionals in the chosen field of interest. The journal must be registered with the National Library to obtain an ISSN number. If it meets the conditions set for a journal house, it becomes approved. However, it is better to affiliate with professional bodies for acceptability, professionalism, expertise and good quality.