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SilverStar said:
+1 for FB's suggestion -- this has been covered a few times here, and it's very sound advice.

A trick that I used is to buy the tools needed for a specific repair job as I required, 30 years later, I've got enough stuff to open my own shop! Also, buy the very best tools you can...think of them as an investment and don't cheap out.
This is what I have done, except for 30 years worth. You can do most things with a set of hex wrenches, pliers, wire cutters and a screw driver. Beyond that i can't think what you'd need unless you have a specific job your looking to do.

I've got one of those kits full of a bunch of sizes of hex wrenches from the local giant hardware store that are just L shaped, but my next purchase will be a fancy 5mm with a nice handle.

Other things that would be good to have are:
chain breaker (you could get one as part of a multi tool that would work just fine)
cone wrenches (if you plan to service hubs that are of this style)
bottom bracket tool
cassette removal tool
chain whip
spoke wrench
repair stand
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