Does this sound about right for a small heat transfer startup equipment to test things out?

Hello,new guy here

i put together a ruff starting cost of my tshirt venture.But,before i spend one penny.I would like to get you guys view.Here is a run down of my est.. cost and the outcome.

Heat press:$220
BRAND NEW 15" X 15" INDUSTRIAL QUALITY DIGITAL HEAT PRESS TEFLON COATED HEAT PLATEN SURFACE + FREE BONUS GIFT 1 X TEFLON SHEET INCLUDED NEW CIRCUIT BOARD DESIGN.

Shirts:$190 for 100(with shipping)
Hanes® Heavyweight ADULT T-shirt - 5280 Pre-shrunk 100% ComfortSoft™ cotton 5.2 ounce heavyweight t-shirt.

Heat transfers:$150
1st design 48 for about $50
2nd design 48 for about $100

Costs:
ebay/paypal fees $2.66
shirt price $15 free shipping
shipping $3
shirt $1.50
transfer cost average $1.50 each
total profit $6.34 each shirt

supply total cost:
$190 for shirts
$220 heat press
$150 for 2 designs
$80 misc cost
-----------------
$640 cost
sell everything profit $600=in the hole $40
future profit if repeated $180(heatpress paid for)

Tell me what ya think?