Will there be money/dues involved? If so you'll probably need a president, treasurer, secretary, and such. And by-laws and other bureaucracy. You'll need a tournament director or two, and these should be USCF certified. In addition you'll probably want the club to be recognized by the USCF.
If you're at a university, I am sure there are rules you'll have to abide by.
You'll need a clean, well-lit place to play and hold tournaments.
You'll need equipment - sets, boards, and clocks. This means you'll need some start-up money.
Finally, you'll need to decide the goal of the club - are you a social club, or do you see the members traveling to other universities for tournaments.
My University is reforming the chess society. We are going to have it run by real chess players, imagine that! Anyway, we are re-buliding from the ground up, any ideas,tips, hints on it? I'm looking for anything that has to do with a chess club. Things you have liked in your own clubs, things you hated, or things you'd like to see....