Setting Up A Vedio Editing Studio

I need some help here. I want to set up a mini video editing studio and hope to use Adobe premier studio software. Can anyone tell me what I will need to set up this kind of studio? I have a PC,P3, but guess I have to do some upgrading. How much will it likely cost in going about this and what kind og card will I have to buy because I know vedio cards could be very expensive.
Seun are u there? You could do some help here too, abi??
Thanks guys.