i got a foam bedroll from walmart for like less than $6. make about 3 1ft squares and have enough of the roll left over to do this about 4 more times. i attach i piece to a board, the attach 2 to the top board, i used 2 hinges on the back side and 2 clamps on the front. got some 1 1/2"x 1/4" wood strips and made a blocking fixture to make sheath belt loops, cost, $1.50 had the wood and hardware laying around in my garage, already had clamps. my investment is about $7.50. ive now made 3 sheaths and the outlook is the material is good for many more. id say go cheap and get your feet wet before buying into some pro outfit you might end up not getting benefit from.
items you might need. shears . to cut the kydex into usable size.
belt/disc sander . real nice for shaping a molded sheath.
ive been using chicago bolts and no rives though at some point getting a riveting kit might make more sense.
drill and bits, drill press makes it easier. is workable to use a hand drill thoughh, kydex cuts easy.