I think the original poster would be well advised to visit other, similar games and see what they do and how they manage the business. This is not as easy as it might seem.
Please understand most underground card rooms go broke. For that matter, most legal card rooms also go broke. Go look at the chip guide for US states with legal poker and see how many "closed" rooms are listed.
http://www.chipguide.com/
Poker is a more capital intensive business than it might seem. Players have a reason to expect much better than a fold up card table, bargain cards and bulk chips. Amenities are essential to keeping your customers. So is security. Let's be clear, security is also in you best interest too. Professional dealer(s) are needed. You can not effectively run the business and deal the cards. Really, you can't.
Also you'll have other people who need to get a cut of the action. Your landlord might well expect a premium rent. Your neighbors could find your card game a problem - it might be wise to make amends somehow before they call the authorities. Maybe you will find unsavory members of the professional underworld who need a little something. Perhaps even the local law enforcement will expect a cut.
I am not saying the original poster can't make this work. I am saying he/she is woefully ignorant , likely under capitalized and unprepared. Do your homework. Learn how this business works and how much it costs in capital, fixed costs and time invested.
Then you will not need to be asking what chips are needed and how should the buy-in be structured. These things are obvious once you do the homework.
Not that my suggestions are likely to be implemented -=- DrStrange