First of all, I can't believe that you asked this question 18 months ago and received no reply.

Starting to teach on your own is starting a business. You can start small by renting space from other types of studios, such as a ballet or martial arts studio, or find your own studio space to rent.

Becoming successful in ANY small business is much harder than it looks. That's why MOST small business don't make it more than six months. There are big expenses that most people don't think about. Rent, Insurance, Janitoral (someone has to clean the space), as well as Advertising. You put an expensive ad in the newspaper and many times no one calls or comes in the door. Yellow Page ads are VERY expensive, and you pay for the entire year even if you go "out of business".

One thing you might think about is teaching classes at your local Recreation Center. They do the advertising, and the book work. You teach the class and receive about 50-60% of the money. No up front expenses.

This can also get a student following in case you deside to open your own studio at a later date.

Another way to develop a student following is to try to get a job teaching ballroom in the PE department of your local community college. The one up the street from me offers ballroom dance for PE credit, and the classes are decently attended. From there you can meet potential private students.