I would not recommend setting up a home color darkroom unless you have a VERY compelling reason and, offhand, I can't think of one. Color requires very strict temperature and process controls. It's almost impossible to produce consistent results unless you purchase expensive processing equipment. Before you convert that corner of the garage, however, you should first try taking a course at a junior college or an arts club. Don't process your own black and white film at first.
Most mistakes happen in film processing and they are generally irreparable.
If you make a bad print, you can rip it up and try again, but if the film is ruined, you have lost the photos entirely. It is much easier, and fairly inexpensive, to have a camera store or custom lab process the film for you. Later you can get into doing the process yourself to experiment with different processes. There is also a film made by Ilford called XP-2. Keep equipment to a minimum.