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I am also in the same boat as you.I am looking at setting up a supply agency from Sep2012.What I have found out is one needs to decide whetehr you intend to be sole trader or not and then register your organisation accordingly.I amd looking at joing the education sector of REC to get more insight.I am just going to dicve in notwithstanding the discouragement about cover teachers.Then you need your bank account.Also find out what other local agencies are charging.You need to convince the schools that you have more value for the service.
Also I think rather than supply any type of school, one needs to decide on whether Primary or Secondary to start with and the geographical area,So far that is what I have.
Hope it helps and good luck maybe we can continue to share notes.
If you are going to set up an agency supplying teachers then you should have previous experience as a consultant with a teaching agency, have you got this?
There's a lot to know for this sector.
My advice is dont. My Dad has recently tried to do this, had a rediculous amount of experience and contacts, and got nowhere. The simple fact is schools dont want supply teachers. They use teachers on free lessons to cover teachers who are off sick, or they put two classes together, or a number of other things to avoid paying for supply teachers. Plus the new academies dont even have to use qualified teachers so they put classroom assisstants in charge when the teacher is away.