What equipment do I need for studio photography?

For a fully functional photography studio you will need to acquire the following equipment:

A large space
The bigger the space, the better, as you will be able to move around your subject and create different set ups and depths for your photos.

Flashes and soft boxes
You will need to have at the very minimum two strobes to light your photos, and these need to have a soft box to control the light.

Backdrops, seamless paper, clips and clamps
Backdrops, seamless paper, clips and clamps are needed to set up your backgrounds. White and black are a good starting point.

Reflectors and V flats
Reflectors and V flats are key to help you shape the light and control the shadows.

Tripod
Tripods are always necessary when you need to keep your camera steady.

A ladder and apple boxes
These elements will help you get a higher point of view for photos and also function as props.

Master stands and sand box
Stands and sandboxes are necessary to load the seamless paper and backdrops and to support any additional lights you have. Alternatively you could have a wall mounted backdrop system.

Full frame mirror
A mirror is not only a light modifier, but it is useful for models as well.

Working table
This is not only a working station and somewhere convenient for you to place your equipment, but it can also be used for still life and product photography.