Suggestions & ideas for setting up a league

ive saw a lot of people asking about setting up a league here

im all for it

however, im not sure what the best way to set it up is.

i think once a week with an overall monthly competition or something would work. Obviously id set it up via pokerstars - henry @ ps responds to my emails very quickly and always goes above and beyond to help the site

however, i dont want the tourney to eat up any of the funds for the freeroll. Do you think a $1 buy in tournament would prove popular - at the end of the month the overall winner would get a small prize or something

let me know what you guys think as im really not sure what the best thing is to do