I'm a Chapter Founder, and while it was (and continues to be) a huge labor of love, it is definitely worthwhile. If there are a lot of enthusiastic women who want this as much as you do, the task becomes much lighter (and a lot more fun!). I say go for it!
I can only describe what it was like for our (Beta) chapter to become a chapter of ASK...and that may not be anything like any other sorority does things. So do be sure and consult with your Nationals.
We had a lot of lattitude in going about things, since we were the first chapter to be colonized since the establishment of the original chapter, and we essentially helped Nationals to start writing the book on expansion and colonization.
Our Founders' big sisters were active members from our Alpha Chapter. Initiation was presided over by initiated members from the Alpha Chapter, both active and alumna (members of the Chapter, as well as our National Board of Directors).
It never hurts to informally talk to friends and others about starting a chapter...this is basically how our Chapter was formed.
Hope this is insightful, and best of luck!
[This message has been edited by equeen (edited April 20, 2000).]