For making glass laminated bows, I guess you'd have to figure about $150 for the materials to make an an air hose style bow press. Another $50 or so to get the components for a hot box for heat curing the epoxy. If you go with the lower cost materials, expect to spend another $150 for bow making materials. Could be much more if you want to use some of the exotic woods.

Some basic power tools I'd want to have on hand would be a Dremel tool, band saw, belt sander, disc sander and an oscillating spindle sander. Add a drill press if you want to make takedown recurves. Wood rasps and an assortment of files. A good variety of sandpaper (220 on up through 600 grit). By all means, it is critical to have a good respirator. You don't want to be breathiing that dust. Some good leather gloves will keep glass splinters out of your hands, which is another important point. A flexible metal straight edge for laying out the profile of the limbs is, I think, a must.

You can buy a good bow for the price it'd take to get set up to make your own. On the other hand, the good thing about it, once you get set up - and have a good form - you can make dozens of bows on that form for just the cost of materials.