I'm in the same boat and have the same questions and concerns:

Challenge #1: Space
We currently run 2 practices already to accommodate our team of 50 ish. I don't know how to do it in a better way that our kids have safe space to wrestle and still get time with coaches. Practices end currently between 6:30 and 7 already.

Possible solution: Separate practice space (mats in the cafeteria or other open space). See Challenge #2 for the issues this poses.

Challenge #2:
Coaches- I am blessed with great coaches- although only 2 of us are in the building, up from only me for the first 5 years so we are on the right track anyway... This makes it difficult to run practices when our Rule 10 coaches, coaches at other schools that get out later, etc can't be at practice at the beginning. Trying to run 2 sessions at the same time will only exacerbate this issue. We ran 2 separate practices years ago, and it wasn't successful because of our limitation in getting coaches to be able to be at practice on time.

Talking to my AD, he is thinking our district will/should address girls wrestling like they do cross country or track. Option of 1 HC for both programs and additional assistants for each program, or separate head coaches and assistant coaches for each program. I think it will be a building by building issue. I would find out how your track and cross country teams allocate coaches and push for equity in that regard.

Challenge #2a- Finding the additional coaches- whether it is Head or Assistant. Again, I'm really lucky to have the coaches I do, but finding quality coaches who have the flexibility in their work/home lives to coach is a challenge anytime I have an opening.

Challenge #3: Budget- Our current school budget doesn't even cover all of our current entry fees for our men's program. Everything else is done through fundraising. I hope they support the female program. The School should purchase uniforms and equipment if the school is going to field a team to get it up and running. If we go that route I'll push for at least 2 sets of 2 piece uniforms to start the program, warm-ups, headgear, etc. The school should step up and get the program going if they are going to offer it.

Challenge #4: Wifey- She's awesome, you'll be just fine. You also have a little one that could benefit from this in 8ish years. I'm sure she'll see the need to grow this, but some of this will be turning some things over to assistants... See #2 and #2a above.

Challenge #5: Building a female competition schedule. It would be great if current tournaments could accommodate a female division also, however most of our tournaments maximize mat space to include as much wrestling as possible as quickly as possible. I don't think my facilities would allow for us to run a girls division for the Johnson County Classic at the same time as the men's tournament. I'm concerned about building an adequate schedule that doesn't require traveling to all 4 corners to find competition.