In the UK we do not get Bellator whatsoever so its only what I can find online.
So my question is,
What is Bellator FC?
Is it a "Show" like TUF or is it stand alone events like a PPV? or both?
I want to start watching it but do I need to see any prior ones first?
I know I'm gonna be called all the noobs going but please excuse my ignorance, we all gotta start somewhere right?
its a tournament-style promotion
It holds events like UFC or SF, it's live, and it's in a tournament format. Maybe start at the beginning of this season to catch up on the tournaments. 
Diolch Yn Fawr Guys, I'm Gonna get on it
not a stupid question at all
google is your friend
Bellator's featherweight champ Joe Warren is pretty damn good. Go watch some any of his old fight from Dream in Japan or Bellator.