I picked up a used hoist from a body shop that was moving. The only issue was it's 3 phase 230v and I only have single phase 230v in my shop. Changing the motors was an option but not a very cheap or practical one so I ended up building a rotary phase convertor. Works like a charm and cost me $145 due to some GRM style scrounging.
The toggle switch on the left starts a 1/4hp single phase motor that in turn spins a 15hp 3ph 230v motor up to speed. Once the 15hp motor is close to running speed you throw the next switch which is a 200a single phase disconnect from my old pool heater. This gets the 15hp 3ph motor running in single phase. The spinning motor induces a voltage into the 3rd phase. The next box is just a splitter that contains the wiring terminal blocks.The last switch is a 3ph disconnect fused at 30a that feeds the hoist.
Pretty straight forward and as a bonus I can look at picking up used instrustrial tools that require 3 phase power. They go cheap because people can't run them on household power.
