Shop Elevator?

I don't know what your budget is for the lift, but I have a suggestion... I absolutely will never be without my forklift. I have two of them, one LP, one electric. Rather than a hoist, a forklift can be used for many other lifting purposes, all over in your shop! You can store all your heavy, bulky stuff on pallets and hoist 'em right up! Used forklifts can be gotten around here for as low as $1,500.00. I would recommend going with an electric unit since it won't be "ran" on a regular basis.

Anyway, good luck with your project! Looks like an awesome shop / exercise studio!