Depending on your ambitions as a chef, you will need a certain amount of equipment in the kitchen to be able to prepare many recipes. If you are starting from scratch, bringing your kitchen up to speed can get fairly expensive.
My kitchen grew steadily over the years, and today, if I feel like I'm missing anything it must be in a box somewhere. Then again, household stores always manage to carry some utensil or appliance that I don't yet have and that would probably make my life easier in some small way. I love kitchen gadgets that do one thing specific and makes prepping more efficient. Citrus zester, cherry or olive pitter, lemon juicer, apple corer, spun sugar tool are a few examples.
Here is a brief list of the most important cooking items: