Must have shop tools

Adam,
One last thought about a tool that you may need: credit. It is a tool, and just like your other shop tools, if misused will hurt you. Someone else mentioned to only buy the tools you need along as you need them. Good advise. Also, you probably cannot do every single thing every car will need. Whether it is upholstery, tire changing, alignments, whatever. No reason to buy a $10,000 alignment machine if your business may only generate the need for 8 or 10 alignments a year, that machine would never pay for itself. Same with a paint booth, if you haven't the space or money or business to put one in, talk with a few paint shops and work out some kind of deal with them so that you get a cut...
Do what you can do well, economically and turn around fairly quickly and farm out the rest.
I wish you the best of luck with it.
Cal