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There are a few factors involved:
Of course you need a heat press, which you probably already have. The you need a vinyl cutter. Depending on size, quality & versatility these usuualy range from about $400 - $2000. I would recommend getting a 24" cutter. this usually goes for the $1500-2000 range. Then you will need a design software. Sometimes these are included with the cutter that you purchase. Design softwares, usually add on to CorelDRAW, Adobe Illustrator or both. Lastly, you will need to get an initial stock of heat transfer vinyls. Depending on what colors and quantities you want, the price for this can vary. To give you a rough idea, you can buy a 5yd roll of heat transfer vinyl for about $24-34 dollars.
 
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