A professional photo studio is sure out of my range. So, I just read up on it and put up one the cheap way.

The first thing to get right is the lighting. Many professionals want to light the left side of a person more than the right side. Personally, I still like to light the subject equally from all sides. Don't forget to light the back of your subject with an up light right behind your subject. That keeps it from looking one dimensional. I use regular clip on lights and accent lights with lightly colored gels taped over them. Even a paper towel will work to soften light. Even work lights sold at home repair stores work well if bounced off the ceiling. Those big halogen lights are too bright pointer directly at someone, not to mention it blinds them.

Next is to have good audio. A typical video camera has good video, but marginal audio. So, find an inexpensive used lavalier mike if possible. It gives it a polished outcome.

Practice with your tools until you get the right mix.