Its a good thing to get a website and maybe a forum. A teamspeak or ventrilo server is also a good thing to have so you guys can communicate with eachother during races.
Last but not least it might be good plan to have a gameserver to practise on, although this is not really needed but I strongly suggest to get one when your team grows a bit bigger.
Thats it I guess, and allot of practise with eachother will be good. Oh! and before I forgot a S2 license won't be bad at all!
If I forgot anything please feel free to add it too the list.