I am also considering home schooling for my daughter, but I think I have a pretty good reason for it. I can't afford to send her to private school and our local public school is positively terrible. It is such a bad school district that I have a friend who recently sold her house and moved just so she could pull her daughter out of it. Moving is not an option for me so home schooling is on the table for consideration.
jml755 makes a lot of good points. I think you just need to look at the reason behind why you want to home school. Is it something the kids are pushing for and, if so, why? Was it your idea in the first place and, if so, why? If you're having a problem with their current school, do you have other options in the district?
If you're absolutely sure this is what you want to do then you should probably get together with other home schooling families in your area and pick their brains about how to get started.