If your a pro, you more than likely need pro equipment—and it ain't cheap.
BUT
if you are an amateur, or a part-timer (maybe a graphic designer who does a handful of product shots and the odd headshot or two here and there;-) you can set up your studio with some "McGyver" ingenuity and a few bucks.
There are tons of "photo-teacher-celebrities" now on Youtube, Vimeo, and Dailymotion who have some great ideas of how to start. I personally have enjoyed the "stick-n-stones" photo studio guy, Joe Edelman with his T-8 fluorescent (pseudo kinoflo) track panels [and later LED ones btw], and many, many others.
I personally have discovered the joy of reading labels. For example, not any fluorescent tubes can be used! T8 fluorescent tubes (with their higher refresh rate, 85 or better CRI rating, and daylight color-balance of 5800 -6200K) are best.
The SLANTED LENS offered this one up a while ago, but with several students asking how to get by "on-the-cheap," I think it bears re-examining.