If you want something that looks and performs astoundingly, you will need to spend the money on quality ingredients....Leather, tools, supplies and finishes.
Herman Oak Leathers from Springfield are astoundingly handsome. The heavier the "ounce" the thicker the leather. Common knife sheaths are between 6 and 9 ounce leathers.
Stamping Tools need to punch a smart and clean imprint into the leathers.
Supplies should consist of [but not be limited to];
* a dedicated double boiler system for melting wax [pure/filtered beeswax is my preferred wax] ; good quality stitching threads and needles; several disposable/aluminum foil lasagna pans of varying sizes; a granite block or metal plate as your stamping base; a quality poly mallet of some weight you can wield comfortably; an adjustable marking compass; quality and SHARP cutting blades [I tend to hand hone my X-Acto blades with ceramic hones before their first use]; a few good quality punch awls of varying widths [varies the size of the stitch hole]; dedicated sharpening stones for those awls [medium/fine or fine/xtra fine grits] to keep them polished and sharp; a few boxes of cling wrap to cover blades/keep them dry and blue painter's tape [leaves no detectable residue on blades or leather; contact cement or Tandy's "leather weld"......but I've used Elmer's in a pinch and it seems to work fine [for what I do].
Finishes should be quality buys. I prefer Fiebings oil dyes. Finishes [for me] have varied. I actually only use my recipe for waterproofing and Dr. Jackson's Hide Rejuvenator. I stopped using thinks like Resolene and Atom Wax because I didn't see anything spectacular about them. Other opinions may differ but remember...I'm the "utilitarian" and they are the craftsmen.
Now depending on how involved you want to get into this, depends on the quantities of the things you need. I myself don't sell sheaths, I make what I need as I need them. Given that, I spend my money on good leather, rather than dozens [or hundreds] of tools. I don't keep too many chemicals on-hand...I'll often buy two 4oz bottles of dye "just in case" the first one doesn't last through the project. Many of the pro makers here buy 32 oz bottles in quantity.....I'll never make anything that would require that much dye.
I've learned much from the guys here and on YT as well.
I've been one-handed due to shoulder surgery and I'm going through withdrawals. It is probably the most therapeutic hobby I've found, for me anyway.