If you plan on being on your feet a lot invest in some padded flooring. If you plan on making jigs and are going to use powder paint get a heat gun. If you have a Harbor Freight store nearby you can offset a lot of cost from buying there because their prices are pretty good, plus there are coupons for harbor freight online as well as in some of the fishing mags we All buy. Outdoor life, F/S, Bass etc. Vodkaman has a little caption that serves true for most of us. I have spent a ton of ducketts just because i lost a few lures to some HUGE fish. I have never lost any lures to trees, rocks..birds or the occasional jet skier...just fish. (note optimist)
You will figure out what you will need plus you will come up with some stuff no one here has come up with. And when you do post them here so we can steal your ideas. Also You need posters on your walls of scantily clad women and music. The music is to drown out the wife or girlfriend while they have do lists for you. Because making baits is more important. Oh yeah and no cooler with alcohol in it....not yet. Wait till you get used to the other flamable stuff you will be dealing with first before getting shnockered while making a lure. Thats just me and my preferences. Have fun