Newer guild finally able to do first raid, anyone able to explain how it will work?

We have 18 members currently and the breakdown is as follows

Level 20's- 1
Level 30's- 5
Level 40's- 4
Level 50's- 1
Level 70's- 7

Trying to find a raid and the consensus was to do a tier 2 raid so most can participate, can anyone participate or do they have to reach certain requirements? Is it how many times you beat the rancor or is it a joint effort to beat 1 rancor? Being we have about half 70+ in guild will it not last very long? Any answers to these questions or any other info would be appreciated. I just want to be able to answer questions if my guild members ask. Thanks and wishing everyone a great day and fun gaming!
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