What would it take for the club to be recognized by FIDE?
FIDE does not recognize chess clubs (except perhaps maybe for club world cup competitions?). Depending on your country, your national chess federation (NCF) will likely need to recognize your club to allow you to participate in national team tournaments.
I would like to give the members FIDE ratings
FIDE gives the ratings to players who have played in a tournament that has been registered as a FIDE-rated tournament. If you want to organize such a tournament, you should discuss with your NCF.
and to participate in local and international events.
Your NCF may require each player to belong to a club recognized by the NCF before participating in tournaments rated by NCF. In international events, there is no requirement by FIDE to belong to a national club, but each player needs to register with FIDE via the NCF before entering the competition (since July 2014; before that registration was possible after the tournament).