As others have said, it all depends on what you have in mind.
I spent about $6,000 setting up my small shop.
I bought a Cobra Class 4 machine. Delivered to my door it was around $2,800 (shipping was about $600).
I bought an Osbourne leather splitter for about $500.
A Palmgren arbor press, $100.
Airbrush and compressor, $100.
Handtools -- maul, cutting mats, pounding mat, edgers, punches, strap-end cutters, bag punches, etc -- $1,000
Hardware -- screws, snaps, grommets -- $150
Belt buckles -- $60
Leather, $800
Liquids, $300
I already had a workshop attached to my home and a lot of power equipment. One other thing that will be really handy is a belt sander. I have an industrial 6x48 that runs at 3750 rpm, but it's far too aggressive. I'm building a 1X42 I think will be perfect.
tk