Wanting to start a studio....but a little more then lost

A little quick history, I started taking photos with nothing more then a point and shoot in highschool then I got a pentax 35mm. I never got around to taking formal classes but the photography teacher was my homeroom teacher and she and I spent all of my time there going over the camera and techniques. Last year, my neice needed senior photos done but didn't have a lot of money so I took her out and used my sister canon rebal to take her photos, and she had them printed. Her friends saw them and I did a few more. I ended up doing about 5 or 6 students photos for them, and I started to wonder what exactly I needed to do to get a studio started. I guess I have no idea what I'm really getting into and I thought I'd try and find out, figured this was as good a place as any to ask the question. I've read a few books but reading and talking to someone are two different things. Does anyone have a few ideas that might help? I'm a blank slate at the moment. Any idea would go a long way thanks!

6-12 months of expenses, if you are looking at a commercial location. If you are looking at working from home, and shooting on location, you should have a decent camera, backup, and all your paperwork in order. If you are shooting at home, make sure your insurance covers anyone who may get injured on your property while working, I know our homeowners doesn't cover it if it's work.

If I was doing it over, I'd have all pricing, products and paperwork in order before I had my first client. It would have been so much easier.

If you have more specific questions, I could give more specific answers, but that's the jist of it. Keep in mind, if you are digital you need a decent computer for editing, and some type of storage.

I'd also looking to to local and state orgs, and check out www.ppa.com as well.

Also, if you decide to officially be in business, keep in mind that the percentage of time you actually spend shooting is very small. It's the business end that is the most time consuming.

Also, a good accountant is worth thier weight in gold.

You'll also need strobes, umbrellas, backgrounds and props etc.

From someone who's done it I'll tell you what my biggest hardship is. I rushed into it and don't have the clientelle I need because I thought they'd be pouring in. I'd start by doing an online website and go outdoors to locations to shoot. Don't go commercial until you have the clients lined up to cover the expenses. I can barley pay the rent due to my rushing. Good Luck!