Depending on your financial circumstances, the complexity of the projects you plan to take on, and how comfortable you are with travel, finding the right location to set up a perfect metal working shop is either very easy or very difficult. If you just want to take on a few small projects now and again--building/welding gates, repairing tools, cutting and installing pipes for plumbing projects--all you'll really need is a good garage or shed that has enough space to fit all of your metal working machines and metal working tools. If you intend to take on metal working as a freelance business, you'll want to rent a more elaborate space somewhere. If you have a good supply of capital already or have enough contracts lined up, consider renting a small warehouse: it's secluded and quiet, has all of the electrical connections you'll need, and gives you plenty of space for storing old projects and for allowing you and whatever other workers you plan to employ to move around comfortably and safely. Many cities also have dedicated "art spaces" for metal working, and if you don't mind sharing some of your tools and space this can be an ideal option
(especially if you can find an art space that already provides some of the common tools you need--any means of reducing your capital outlay at the start will be welcome.)
Whatever you choose, make sure that your work area is well-ventilated: you don't want to be breathing in smoke, metal dust, or any of the other uncomfortable byproducts of metalworking.If you're working in a garage, make sure you leave your door open while you're at work: let the neighbors complain all they want! Also make sure that you have a good, accessible power supply that can handle several high-power tools at the same time: there's nothing worse than having to interrupt your projects to constantly unplug and plug the same four or five tools over and over.
As far as tools go, you'll need to have at least the following:
Cut off saw/chop saw: for making precise miter cuts on metal. Be sure to get a good supply of metal cutting blades as well, since cut off saws can quickly use up these parts.
Magdrills: for allowing you to drill a wide variety of holes in metal to prepare for assembly with screws or soldering. Magnetic drill cutters--in particular annular cutter sets--are excellent tools to look for in this category.
Work benches with vice grips: essential for keeping your workshop safe and for ensuring that you can make precise cuts.
Eye protection: goggles are sufficient, but a good welding mask is also a nice investment just for added safety.
Bench grinders: to make sure that you can keep your metal projects smooth, finished, and free of any jagged, unsafe edges.
Once you have these good quality metal working tools and a place to work with them, congratulations: you've got your metal working shop! The rest is only limited by your imagination (and your free time.)
