Foot Pedal

This is the crucial piece of hardware for digital transcribing and you will probably have to order it online.  It will cost about $80.  If you are a serious transcriptionist you will have another pedal as back up because if the one you're using breaks you do not want to be out of commission while you're waiting for the next one to come in the mail!  The makers of Express Scribe also sell foot pedal hardware (https://www.nch.com.au/cgi-bin/hw.exe?class=FP ).  I use the VEC USB pedal, which is the best product if you have a USB port.  If you have a very old computer that does not have USB ports you may have to get a pedal that connects with a serial connector.

Headphones

Get the very best headphones you can afford.  Believe me, you will make the money back in increased efficiency.  (If you will be using a notebook computer to play digital audio files you will also need a good set of external speakers to "boost" the audio volume and quality -- plug your headphones into the external speakers.)

There!  That's the minimum equipment you will need to start a home transcription business.  Many of you will only need to buy a foot pedal, meaning that you can be set up and ready to start making money for less than $100!

Printer

A printer is useful to print out style manuals or instructions provided to you by your clients.  If the audio is accompanied by notes (legal depositions or insurance interviews, for example) it is also very helpful to be able to print those out for reference.

Fax

Sometimes you may have a client who wants to fax instructions or notes to you instead of scanning and emailing them.  Imagine how impressed they will be if you can provide them with your toll free fax number.  For just a few dollars a month you can have your very own toll free fax number which will automatically forwards your faxes to your email inbox as .pdf files (http://www.kall8.com).

Long Distance Plan

You may want to consider a flat rate long distance package so that you can call your clients to discuss their needs.  However, I have found that I do most of my transcription business communications via email.

Playback Machines

Eventually you may decide that your business should expand into transcribing analog audio (tapes).  Having the equipment to do so will certainly help you win more transcription contracts.  There are standard, mini, and micro tapes, all requiring different playback equipment.  A playback machine will cost you $350 and up.  Check out sites like transcription store to find out what is available.