The most essential piece of equipment to have ready for draft day is the draft board. In its simplest form, this is a piece of poster board with room enough to make a 6-inch column for each team. At the top, write the team name. The rows below will represent the draft rounds. You can make up a deck of cards with the names of the eligible NFL players. These should be color-coded by position. As each owner selects a player, pin or tape the card under his team's name.
Keep the board up to date as the draft proceeds. If trades are made during the draft, make sure they appear on the board. Alternatively, you can use an erasable white board and write in the players' names. Boards are also available on the Internet already assembled, along with a set of player cards. Yet another possibility is to use a computer with an Excel spreadsheet to list the choices.
You should also have pens, paper, colored markers and clipboards available to make life easier for the owners who will be tracking the progress of the draft and updating their strategies throughout the process.