The photography biz requires some heavy investment. I will assume you have a basic education in traditional photography, composition, exposure, development and printing in the darkroom, so you may even have some 35mm equipment from that experience.

In the past we could buy a couple of 35mm SLR's and a few lenses and be set for a decade or so and for not much money (under $6,000).

Now in the digital age one camera body will cost that much AND the camera is only useful for about three years. Add to that the computer is no longer a business tool for printing invoices and running a database of your customers. It has become a digital darkroom which too has to be updated every three years or so.

If you do any location work, you will need a second computer ... a high powered notebook.

Since your mentioned Canon, I will assume your existing system is Canon.

One of my sports photographer friends just updated his three Canon camera bodies. He spent over $8,000 each and in about 18 to 24 months from now, he will be doing it again. I am lucky ... I have a Nikon system so I "only" have to pay $5,000 each for my new cameras (D3).

That said, you are looking at, at least $30,000 for camera bodies, lenses, external flash units and other accessories. If you are going to maintain a studio, add another $15,000 for studio strobes and backgrounds ... and of course the monthly fixed and variable costs surrounding that venture

Good luck on your business.