Check out zebra printers if you need just black and white. For custom cut stickers we use the Afinia L801 with the 220 finisher. The finisher can cut out any shape you need. Zebra printer is probably 500. The afinia with the finisher is like 35k. Also the cheapest way would be get custom pre cut labels from Avery and use a regular computer printer to print the ones you need.
Hickman labels and coast to coast labels are my go to for label paper and for pre cuts.