Its possible to spend heavily over the top for items you really don't need.
This is the basics that will make good sheaths .
Safety beveller, adjustable groover. Craft knife, large darning needles, thread and a block of beeswax for pulling the thead through prior to sewing. wax not shown but from flytying shop or i got mine from my local dive center for £2.
Dyes etc from the local cobblers, and shoe polish