My sister did this in her basement - what a room! But she complains about air circulation - since the room is enclosed- has a door and she put in a sliding glass door for natural light. So, a fan (not above the design cutting table). A large cutting table with access to all four sides. On the walls, book shelf for books and one for material, draws for gadgets, maybe shelving for baskets - projects in the works baskets (holds pattern, material and thread. MMMM Good lighting with the ability to turn on some and not others (keeps heat and electricity cost down) A TV with cable connection, phone, stereo :) Oh, a computer for access to the board and patterns.
I do hate that my sister doesn't have a place for me to sit when I come to visit. :(