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@bobbycutters
once you remove the freewheel there will be a big space on one side of your axel. To rectify that you need to respace the axel. For this you will need a couple more tools that I forgot about - Cone wrenches and a spanner for the locknuts (just a regular spanner the right size, or an adjustable).
Once you have respaced the axel you will need to redish the wheel as your rim will be offset to one side to make space for the old freewheel that was on there. Without redishing the rim will not be central between your brakes. By redishing so that the rim is central to the hub, you will make the wheel a lot stronger too.
I taught myself to do this with the help of the internets. Check this out-
http://www.fixedgeargallery.com/columns/bobgarage/indexb.htm
chapters 5, 6 and 7 cover all of this but the rest is worth checking out too.
Also have a good rummage through Sheldon's site-
http://sheldonbrown.com/singlespeed.html
I could lend you the cone wrenches, spoke key and adjustable spanner for the price of a beer/biscuits if you like. The only other thing you would need would be a freewheel remover tool which I don't have.
This is all assuming you have a freewheel on there at the moment rather than a cassette. If you have a cassette then all you would need would be a conversion kit - no redishing needed.