Find some open space in a basement or large spare room to use as your green studio. Clear plenty of space and make room for hanging a large green screen cloth or backdrop. You may need to buy stands to hold up your green screen backdrop as well.
Measure the room and decide how big of a piece of green screen you will need. You may be able to find a roll of green screen material at larger camera or video stores in your are, if not you can order green screen online at places like Studio Depot.
Hang the green screen and place lights facing the green screen on both sides of the material. You will also need back lighting which is crucial to allowing you to "cut" out your object in post production. Have a friend stand in front of the green screen and position two more lights at your friend's back. This will give you both back lighting and front lighting.
Lock down your video camera facing the back of the green screen and shoot some footage. You and your friends can have some fun testing out techniques for getting the best footage that allows the sharpest image for your editing. You may even be able to rent out your green screen studio to smaller local production companies in your area.