Be sure to check Motor specs. Many lathes need 3 phase power which is a bad thing unless you shop already has 3 phase power. When you purchase a lathe remember to check close what is included with lathe. Does it have a 3 jaw universal chuck and or a 4 jaw manual chuck. When doing precision boring, or turning you need the 4 jaw for precision stock locating. And old philopsy of machine shops I have been around and worked around, The cost of chucks, tool holders, cutting tools, boring bar set up, dial gauges and base, center finder, micrometers, Taper attachment, back headstock centering unit all the tools and measuring equipment will cost about the cost of lathe to put it in service on the shop floor with its own operator. I have though of making the plunge into a lathe and milling machine myself. Good Luck.