you will need plenty of cash/sponsors
libilty insurance
securety firm
a very very good P.A & lighting system
a good bunch of artists who dont argue about what time they play/sing/dj
good large stage
burger vans
parking
but i would start small like ask a farmer if you can rent two fields one for the mini festival the other to pitch a tent
go to a haulage firm ask if they would sponser you a trailer for a stage then see if you can find a booza/pub and see if they do outside bars
find a burger van company for the food
ask companies if they would sponser your festival say its for a good cause like (help the heros, red cross ect)
charge tickets for entry bit more for camping
get dj, bands singers ect if they would play for free
hire the p.a system and the gate ticket money should pay for them and the door men/security
you will need to get libilty insurance
or just hire out a country manor where people have there weddings at with a good size dance floor and easy to get to & charge £5 a ticket to cover the costs & put posters round collage & uni
they love a good piss up
(trade secret always say to the people of the country manor its a 21st birthday party and your guaranteed to stage it there)
good luck