Setting up a new shop
When setting up a new shop it is important to think about what kind of work you will be doing. If mainly doing body work you will need tools such as shaping hammers, grinders,paint guns,DAs,but mechanical tools such as socket sets, floor jacks, jack stands will also be required.
If your starting out with a smaller space, as a lot of people do, a large factor is organization and storage. Shops are notorious for accumulating things that do nothing but get in the way. Adequate shelving is probably one of the first steps to take. Bins for all nuts and bolts are a must. A good way to keep the tools you need right then handy is to have a rolling cart. Air hoses are better on a reel than tangled around your ankles while your moving a fresh small block head around the shop. Several companies now offer a quick connect hard line system to supply air to all corners of the space. You will also need enough electrical outlets for every work corner because extension cords are never quite long enough. Overhead lighting is almost mandatory but its also good to have several light stands to move around and adjust the angle for what your working on.