Starting your own radio station can be extremely costly. Unless you have more than $100,000 to invest, it is not likely that you will be able to do this on your own. It is a good idea to go into creating your own station with the knowledge of the cost and a plan for raising the money. The cost of equipment will depend on the class or area in which the FM station can reach listeners (for example, Class A has a reach of only a few miles). The farther the station reaches, the more expensive the equipment.
Decide who your listeners are and what they want to hear. Are you filling a niche? Are you playing music, talking about politics or interviewing people? You'll want to organize a schedule of what you'll be offering and when you will offer it (such as playing music from 9 to 10 a.m., and then a talk show from 10 to 11).
Space is an important aspect to take into consideration. To broadcast from home, you need a significant amount of space to house your equipment. If you'll have other employees, you may want to consider having an outside entrance to your studio so your employees don't have to enter through your living space.
The FCC says that in 2008 it received more than 30,000 requests for new stations. This means that most people who apply for licenses will not get them, so it is a good idea to wait until you receive word of an approval before purchasing equipment or making major changes to your home.
To apply for a license, you'll need to be familiar with FCC rules. Then, you will need to fill out Form 301 (both electronically and on paper) and file a proposal that includes the community you will be serving, the class and what frequency on which you will be broadcasting. Make four copies and send three to Audio Division (MB), c/o Office of the Secretary, TW B204, FCC, 445 12th St. NW, Washington, D.C. 20554. Include the $3,565 application fee. You should receive an answer in several weeks.