What you are asking for is almost impossible to answer. First off I would want to know from you, what do ou know about Virtual Reality? Because most of the answers are right there in your knowledge. If you know nothing as your question seems to indicate, then this is probably not a venture you really wish to enter.

In general:
Plans: You need to sit down and write a business plan, you need to know what kind of VR you are going to make.

Equipment:
You are going to need computers, and probably some very powerful ones, VR is very graphics intensive and large files and code, so plan on spending 49% of your budget here.

Personel:
Programmers, graphic designers, QA, the list goes on, you will need some, and they will need to be good at what they do, so expect to spend another 49% of your budget here.

My advice is that if you are not already a computer type guy, working in a place that does this type of work, or something similar, then you need to find a partner who is, and let them help you.