Well there is a lot to think about in this process. Whether you are starting something brand new , or whether you are chartering an already established Fraternity. Also whether the organization will be Social, Service, Co-ed, Honorary and so forth.
Also major ideas to ponder would be , to think about why you want to create this organization, why will it be different from the rest, what will it stand for and etc..
Also check out Greek Letters, to see which ones have been used and situations like that. A great website for this information would be
also try http://www.geocities.com/localsororities
( Although you are starting a Fraternity, I mentioned this because this site has a lot of helpful resources
P.S. I also sent you an email