Define your level of expertise. This will allow you to highlight your specialties such as method acting, effective execution of the Meisner technique or improvisation.
Find a space and location that is easily accessible to potential students. Space needs to include storage for props, tables and chairs. Make sure location is located central to public forms of transportation such as a bus, subway or train.
Make sure your acting studio contains a private space for actors to prepare for their scenes.
Create a course outline/syllabus to detail the classes offered and a little bit about your background. Your credentials are critical in attracting students and clients. Be willing to answer questions such as: Who did you study with? What work have you done in honing your craft or particular level of expertise? Do you have a Masters of Fine Arts Degree?
Open up your class to students. Class should include four to six students. Students will need to work in teams with at least two students per team. This is especially important when scenes require back and forth interaction between two people.
Network and use word-of-mouth to lure in new students. Your success with your first acting classes in your studio will lay a solid foundation for your future classes.