No big deal, really - get the forms by calling the ATF, or download them from [url]www.titleii.com[/url]. You can read more about the licensing procedure at [url]www.atf.treas.gov[/url]
Fill the application for license (Form 7) out, get two sets of fingerprint cards, two passport style photos, and a check made out to the Department of the Treasury. The fee for a type 07 is $150 for the first three years. Mail one copy to your local sheriff, and the other copy, with the check, to the ATF at the address listed on the form.
In 2-3 months, the ATF will send an inspector out to interview you and check on your zoning, etc. If all is cool, you'll get your license, and you can pay the $500 for your Class 2 SOT.
If you don't live in an industrial zoned, or unzoned area, you may need to get a variance or permission letter from your local zoning board.