Does anyone out there own a driving range. I was thinking about opening one and was wondering what the initial cost would be : land, building a shop, all of your equipment, etc.

I would say that would depend on where you live, and what level of range that you are going to open. I live in Lexington Ky, and www.manowargolf.com this is the range in my area. It has been voted in the top 100 ranges in the country several times. To open a range of that level, you are talking several million dollars, Land, building, practice areas etc. I can't remember the name of the guy that owns it, but he owns one of the larger horse farms in the area, and started some big company I just can't remember its name right now.
But to get right down to it, the man is worth close to a billion and he spent a couple of million, because he likes to hit golf balls when he is here.