Get a magic wand, silk hankie, a coin, pin, string/thread, rubberbands, and a deck of cards. You'll want to wear a sport coat/blazer (to help hide hands/stuff in big pockets).
NO FIRE. NO SWORDS. NO DECAPITATING the teacher tricks. You may not saw a kid in half.
I've got a dvd that is just awesome. Co-op has a few tricks in their birthday party stuff.
Find a "magician's oath" from google/wikipedia. Take it seriously.
We need a table and a fancy-shmancy cloth.
Someone find a trick were you have a hand puppet as your assistant.
Let's put on a good show.