checklist:
1. Lights. The more the better. If you want to grow softies you only need PC, but investing in T5's will allow them to grow faster. MH is unnecessary unless you want to frag SPS hard corals.
2. Tank. If you are fragging softies, you are going to want a shallow tank where they get as much light as possible. if you were growing SPS, LPS, and softies you would want a deeper tank to layer out the corals. SPS on top, LPS mid, softies low.
3. Filtration. How is your tank water in the takn you currently have? low nitrates? high nitrates? if low then use the same water and the same filtration. if your current tank has high trates you may want to invest in a skimmer or refugium for your frag tank. remember, the better the water, the faster the growth, so low trates and phosphates is key.
4. Food. IMO, variety is the key. you will need Mysis, cyclopeez, and a filter food like Ultra Min F. feed Mysis every week, cyclopeez every 3 days, and ultra min F every day.
Pick what fits your budget. of course in this hobby, the higher the budget, the more things will get done. but that doesnt mean you cant have a successful tank under PC lighting and weak parameters.