Once you find the space to teach, require the students to bring their own machines. If they are going to sew, they will need their own equipment anyway. Also consider starting with hand sewing. Aprons, stitch samplers, doll clothes, pillows, all lend themselves nicely to hand sewing. Once they become familiar with the basics they will then be ready for the machine. Learning the hand sewing techniques will also give them time to source machines if they find that they enjoy sewing and decide to continue mastering the skill. I suspect group lessons will offer the potential to earn more money per time period than individual lessons. Your marginal cost (cost per lecture per student) decreases the more students you have at each lesson.
This sounds like fun. I hope it works out for you.