Thanks for all the replies! I'm just getting into taking decent pictures, and eventually would like to open a small studio, as I'm sure everyone else here wants to do also. Or maybe already has.
There is a large market for Senior Pictures in my area, since I live near my old high school, and currently one man has a complete monopoly on that market. And at this time, my budget is very small. Around $200 for lighting and filters, construction of any kind of device, etc... But, in time I will be upgrading to some Photoflex lights. That is if I can get a good start.
I will look into the photofloods, and also the silk. And I will experiment and see what I come up with. Thanks for everyones help. You've made a newbie feel at home.