Well to start a garage band you deffinetly need at least these-Guitarist-Basist-Vocalist-Drummerif you want to get fancy add some other instruments-Saxaphone-Piano-etc...if your planning on recording. Start off iwth a less expensive system and record. promote yourselfs. do shows around the town. make a little money and start getting new equipment etc.
A guitar, a 75 watt plus amp, a guitar chord, a multi effects pedal, another guitar with a 50-75watt amp,a bass if you want with an amp, then a Sure mic and a PA system. And most importantly a set of drums.
A garage.
A...ummm....garage....and a band that is better than yours.
