I have the dedicated stands by the manufacturer for both my mini lathes. The thing I miss is storage for the tools. The one stand is a Delta and it has 6 or 7 slots but I have surpassed that by 5 fold. If I were you I would come up with something to hold at least 15 tools in the bottom. It would have to be slanted to the front, so your tools will fit and come out easily.
I might consider PVC pipe under plywood….just a thought.