You're venturing down a dark path, padawan.
That said, it depends largely on what you want to do, and how fast or easily you want to do it (this is usually directly correlated to how much money you can spend).
I've been doing it for two years, but I'm the type of individual that once something captures my attention, I pursue it passionately.
My shop includes the following major tools:
Chop Saw
Belt Sander
Loft and Lie Machine
AccuMade 3D ruler
Frequency Analyzer and associated tip weights
NeuFinder 4 (currently under repair/reassembly)
Shaft puller
Heat gun
Vise
Air compressor (tank and regulator)
FLO Laser jig
Sanding sponge
Box cutter knife
Hook blade knife
500w halogen lamp (x2)
I have the following supplies lying around:
Epoxy
Epoxy sticks
Epoxy wipes
2" masking tape
Double sided grip tape
Grip solvent
Soap/water solution
Acetone
Liquid glass
I would start by regripping a set of
irons. That would be a minimum investment, IMO. Grip solvent, double sided tape, and a knife (well, and grips).