Old kitchen cabinets and counter tops work GREAT in the garage. If you look around you can find some for free or real cheap when people are doing remodels, etc.
Plus, you can go to the hardware store and get raw counter top material that has damage on it for a song. I was able to make an offer to Home Depot on the 14' or so of counter top that I installed in the back of the garage because there was a small crack on one end (not acceptable for putting in a kitchen).
Don't forget the kitchen sink! At the least, buy a good deep laundry sink and plumb it in. If the plumbing is already done, you can easily tap into another source. Worst case scenario, put a drier style duct on the ouside of the house and let is simply drain into the yard. Hey, this is better than walking outside, grabbing the garden hose, and washing your hands in the flower bed.
At the most, put a toilet in. I have had on in my last two garages and believe me, the wife really appreciates no more greasy prints on the master bath fixtures. I put up a light weight thin privacy surround around the toilet by hanging some old vented folding closet doors from my house remodel. Total loss of floor space is about 4' by 2' in an extreme corner.
Let there be light!!!!!! You need plenty of light. I was able to pick up some huge 277 volt in ceiling florecent fixtures from an industrial remodeling job for FREE. Took them home, spent $10 on each one at Homedepot on the 110 volt ballast resisters and installed them between the trusses in the actic for bright clean flush mounted lighting. Total investment was under $100 for all six fixtures.
Run a phone and cable outlet. Pick up a cheap cable ready t.v. so you can watch speedvision and other quality programing while wrenching. The phone is a given. Make sure and get a cordless that won't break your heart if it gets grease or paint on it.
Don't forget to leave space for a good small fridge. I have a small unit that we picked up from Walmart for around $70. It keeps my cold drinks cold. I need to put a small microwave out there, just keep forgetting.
Think out a good spot for the air compressor and wire good power to it. I was able to build mine into the lower corner cabinet. It gets just enough air, and is out of sight. I ran the water seperater and hose out the other end of the cabinet for a neat and clean look.
Hmmmmm, finally, don't forget the climate control! If your neighborhood ordinance will allow it, put a good window style a/c, heat unit in. At least in Florida, this is soooooooooo awesome to flick the a/c on around 7:00 a.m. during the summer, and let it run all day. I can pull my wrenches in style!