Chris, I am rather partial to Osborne tools, and even more specifically older Osbornes if you can find them. (it can be done, I found a whole box of old Osbourne knives and such barely 1 mile from my house, got the lot for around 80 bucks! That was my one lucky find ever!) Although I know next to nothing about saddle making, a shop should have:
At least 1-2 round/head knives, leather "utility" knife (looks like a large butter knife with a razor sharp edge), a bevel edge skiving knife, strap cutter, various sizes of round and oval punches (don't skimp on those, buy GOOD ones the first time, I speak from experience), several sizes of strap end punches (I think english points are cool, but that's my opinion), assorted mauls,several sizes of english and french edgers, an assortment of edge bevelers, several different sized creasers, a "V" gouge, stitching groover, and possibly a splitting machine.
This is by no means a complete list, and quite frankly I wish I had all those tools also, but I have a good many of them, and I keep adding as resources allow. This has not even touched on assembly tools such as sewing implements and such, but hopefully it will give you a start. With other folks stating their preferences as well, I don't think it would be long before we help you blow that budget, and still not have everything you want!!!! Good luck, and hope this helps,
Eric Woods