I wouldn't say its a hard business to get in, but a little harder to turn a profit.
I would say, if its a hobby you looking into starting, then i would look in your local papers, or craigslist, for used equipment to start with. A friend of mine started his business this way; and now he has two new screen press's and one brand new automatic press. But it took him years of saving to get where he is today.
I would also say that if you were a print/design major in college looking for a co-op, or a summer job, i would recommend looking into getting a job at an ink manufacturer. This will gain you valuable info & knowledge about the industry. i.e.
Kiwo This same friend of mine did a paid co-op, over the summer for this company.
Another way to gain some knowledge about the industry would be to find a local printer. A simple way to do this would be to call your local HS, and find out who supplies their teams with shirts and such. I know in my area, there are at least 2 screen printers, doing multiple schools gear. This way you might find a part time job at one, gain some experience, then go on to start your own company.