Would this work well for a basic, entry level lighting setup?

It has been a long time since I've been in the photography game, but with a new baby in our lives, I'm once again finding myself looking for ways to create some good quality photos.

When I was actively shooting, my primary interest was photojournalism type stuff. I didn't use much lighting, and I have never personally owned or worked with any variety of studio lighting. With the little one though, I've found that some of the shots I am taking could be improved with just a little bit of the right lighting.

The budget is tight, but I think I've found a set of equipment that will satisfy my needs. I will mostly be shooting with the baby against a light coloured blanket.

We just had our first baby photos done, and the photographer was using a very similar setup (although of much better quality!), so I pretty much just copied her.

Here is what I've picked out:

Monolight flash & softbox kit

Hot shoe trigger/receiver

Reflector disc

I know the equipment itself is on the low end price and possibly quality wise, but I'm just looking for some feedback on whether or not this equipment will be appropriate for shooting a few baby portraits. If anyone has any suggestions on different types of lighting setups, or alternative products I can buy in the same price range, please feel free to make suggestions!

Should be ok, as long as you remember it's low end. I don't like reflectors much but they're an effective way to simulate a second light for not much money.

Like Tim said, it'll work...with the understanding of what you're getting.
For monolights, I wouldn't mind paying a little more. Those are on the very low end, but I don't doubt they will do the job you need them to do (with the right expectations of fuse life, build quality, light consistency, etc)
A YN560 speedlight would give you a little more flexibility and still be plenty of light for a baby IMO. Just FYI