You need an out-feed table to support work exiting the table saw and band saw. By placing the tools close together, I was able to make one out-feed table that works for both tools. I put four pivoting wheels on the table, allowing me to shift the table in any direction. By placing a shelf below the table, I gained some much needed storage space for portable power tools. Finally, since this is a large work surface, the table also serves as a true, flat assembly table.

@jayemel: tempered glass works perfectly, as the (theoretical) fluctuations in flatness as a result of inner stress are several orders of magnitude smaller than the significant variations of thickness of your sandpaper. Unless you want to reflect the light of distant galaxies off the bevel of your chisel and measure their red-shift, you will be fine (and safer) to use tempered glass.
One of the most heavily used tools in your shop will be your table saw.  It is absolutely essential for ripping stock to size, working with composite material (like plywood and MDF), and venturing into the world of wood working jigs.  Budget is a limiting factor in a $500 build, but at $150 it is hard to pass up adding this Craftsman saw to your shop - even with limited funds.  
This is sequential to step one, but with a little difference. You choose simple and easy woodcrafts to make.  Ones that do not require investment in expensive tools. Nor do they require a lot of wood and raw materials. There are plenty of examples of such projects to be found. We have written about a few of them here. Small and popular wood projects can be made in large numbers and sold with ease, for a high profit. 

If you’re woodworking as a hobby, you already know that it can get very expensive. Saving money by not buying redundant tools is one way to keep it slightly more affordable. If you’re doing this as a business like I am, then every dollar saved is another dollar you can invest in your business. If you have other money saving tips, please feel free to share them!
Low-tech tools are high on value A basic set of handplanes lets you true edges, flatten panels or wide boards, and achieve finish-ready surfaces. Start with a small cluster of handplanes—low-angle and standard block planes, a No. 4 or 4-1/2 bench plane, and a jointer plane. A set of inexpensive chisels is essential for chopping, paring, and trimming. 

Some DIY woodworking projects are too intimidating to even attempt because you don't think of yourself as a master woodworker. Backyard Woodworking dubs itself as the YouTube channel for the average guy. The channel takes you through simple projects you can do today, projects like a piggy bank, a birdhouse and a heart box—which is apparently the perfect gift for your sweetie!
Over a year ago, I wrote up a round-up of three woodworking resources Learn To Build Your Own Furniture With These Impressive Carpentry & Woodworking Resources Learn To Build Your Own Furniture With These Impressive Carpentry & Woodworking Resources Few things are as satisfying and relaxing as making something new with your own hands. Programming comes close, at least for me (and I've recently offered some tips on learning to code), but it's still... Read More which included talented YouTube woodworkers Matthias Wandel, Steve Ramsey, and Marc Spagnuolo, AKA The Wood Whisperer. All three still produce wonderful work — and today I’d like to introduce you to five other YouTube woodworking channels worth following.
The next important hand tool for the woodworker is an accurate tape measure. Get a retractable one that is at least 25 feet long. Any longer than that, and you start having problems getting it to roll back up. Since measurements on large scale projects can be very susceptible to even the most minute measurement variations, you’ll want to make sure the “hook” or tab at the end of the is firmly attached, with no give. When they get loose, you’ll have as much as 1/8” variation in your measurements. This can add up to some severe accuracy problems in the long run.

Man, do I ever know about the "pre-buyers remorse"! My fiancé is a self proclaimed "cheapskate"(her language is a bit more coarse), but when it comes to my shop, she's all for me spending. I always end up being the one to pump the brakes, as I have a history of being TERRIBLE with money(@ 21, I was making close to 6 figures with no post-secondary education, and at 31, I still have less than $5,000 in the bank), while she pushes me to get "whatever I need". Of course, we all know that the line between want and need is pretty blurry. I agree with some of the other posts; I keep all of my expenses logged, and try to churn out money-makers to chip away at the red, always hoping to reach the black. So far, I'm still seeing red, but as my shop continues to flesh-out and my skill set grows, profit begins to sound more and more feasible all the time. Of course, I'm not really trying to make money. I just want to buy bigger and better equipment and supplies!
Make sure to run ground wires wrapped around all lengths of flexible exhaust hose to prevent static build up, which can spark and potentially ignite. I chose the King 1.5 HP dust collector, with a 115 volt motor, so I did not need special wir­ing for it. A shop vac is a must, as well, used to vacuum out machinery, and to remove dust from furniture prior to fin­ishing. Finally, an air filtration system was installed to clear the air of tiny airborne particles. The King KAC 650 unit I installed does a nice job, has a remote control, and a program­mable delay – I usually have the air cleaner run for a timed two hours when I leave the shop.
Woodworker's Supply used to be my first choice. As a woodworking business owner I relied on their p...roduct availability and quick delivery. In 2018 they have failed repeatedly on both accounts-- everything is backordered, shipping has been incorrect after multiple assurances the problem will not happen again, backordered product is not shipped after in comes back in stock.
I set an initial budget of $10,000 to build the shop – everything from studs and drywall to hand tools and machinery. The final number was over by $1,000, but I’m still very happy with the result. The shop is now my haven, with a good sound sys­tem and good lighting. Every time I go back into the shop, it is exactly the way I left it, because it is my shop!
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