Visit the Federal Communications Commission website (see Resources), type in "LPFM," and follow instructions to apply for a license.
Rent or buy a quiet area with enough room for a CD player and a microphone. A small room, part of a room or even a closet can work as a studio.
Set up your antenna at the highest place possible spot. LPFM radio signals transmit in a straight line for up to three miles, as long as nothing blocks them. Fortunately, antennas are small and lightweight, so a pole, a tower, a mast or even a hill can be a good location.
Buy or ask people to donate studio equipment. The minimum equipment is a microphone, CD player, cassette player, sound board and Emergency Alert System Decoder, which is required by the FCC, according to Prometheus Radio, an LPFM advocacy organization.
Obtain a transmitter, an antenna and a compressor, the basic equipment you'll need to change FM waves to sound waves and send them to a radio. A compressor keeps the sound consistent so the volume doesn't bounce from very low to very high.