In free countries you just broadcast. It's like the right to eat pancakes, it's not specifically regulated. Of course there are rules of what you are allowed to do or not, for example you can't broadcast in specific frequencies because those are licensed and if you like to do that you need to purchase a license. If you broadcast using loudspeakers, you will have regulations on the loudness of it.
The commercial license might come with its own limitations. Depending on your location, you might get into trouble if you take advertisements for drugs or cigarettes or alcohol. You can lose your license over it but your broadcasting equipment wont try stopping you from doing it.