I recently accomplished what you are wanting to do in a short amount of time even with the economy. Here is how i went about it.
Start with as low of Overhead as you can in the beginning, If you have a garage and basic tools, start there. Of course you will have to get a few speciality tools depending on what your wanting to do exactly. Talent is the main thing you need, I am somewhat of a wiz with diesels, mechanical, design and fabrication, and a friend is amazing with body/frame machine work and paint. We started out getting some mid level ($4-8K) finished price totaled vehicles through an insurance auction and shot to get them into the market at 50-60% of retail value. We started with just 3 cars initially and 2 guys working in my 30x40 shop. In just 8 months we now complete 2-3 cars a week which are pre orders and pre paid by the customer. We do all work auto under one roof and people seem to really like that idea. We also now control our own overhead supply wise as i am now an authorized dealer for every supplier we use. I could go on and on with the details, if you have any questions or anything feel free to pm or email me, i would be glad to help.
The key points are to provide Quality work at a quality price
Start with as small of initial investment that allows you to complete the above yet minimize risk should things not pan out.
Customer service is key, you treat them right, they will come back and bring friends. Word of mouth is a priceless means of advertising, especially with the internet now days.
Hope this helps and feel free to ask any questions you may have, i could type for hrs on this subject. All in all, good luck with your venture should you try! Best wishes! Jared
