How to ask on a registration page if user is private or business

I have both business users and private individuals registering for my service. I would like to start targeting them differently so in the registration process I want to add a question (under email, name and password):

Will you be using the app for:

• Business
• Private

I thought of making the * into a checkbox (since people may use the service for both personal and business).

Does this seem like the best approach?