I've been doing this for a few years now and find I need fewer and fewer things to make plugs that catch fish. And fewer types of plugs that I make.
You just need enough stuff to have fun unless collecting plugmaking stuff is your hobby, or you are trying to make it a business.
Here is what I spent
Lathe used craftsman $50
Used socket firmer and gouge $10 made handles myself
Scale from harbor freight $15
Bandsaw, chopsaw and table saw I had If I had to have just one I would get a small bandsaw.
Drill press I had, a small one will do it if you thru drill on the lathe
Needlenose pliers with one jaw ground round $5
End knippers, linemans cheap set from sears $15?
Drill bits I had but you could buy an inexpensive set and then replace the ones you really use with good ones.
This does'nt count expendables like wood (free), sealer, rattle cans, epoxy, sandpaper, lips, swivels, wire, hooks but you can pick those up for the price of a half a dozen Gibbs plugs