A thick piece of wood approximately 2 1/2 feet in length
Pencil
Level (preferably one longer than two feet, though not necessary)
5/16 inch drill bit
Two tool hooks
Four 3-inch screws and washers
Mark the distance on the wood for the hooks so that the guitars will hang without bumping into each other. Lay the wood on the floor, and align your guitar heads along the wood so that the bodies of the guitars lay comfortably apart from each other. If you do not have two guitars available, the distance should be at least two feet.
Mark the spot directly under the center of each headstock on the piece of wood with a pencil. To make sure that your will be hooks level with one another, use a level to make sure the two spots create a level line.
Make a guide hole in the spots you have marked using a 5/16 inch drill bit. This hole will later be used to as a "guide" for the tool hooks, as they are not capable of making their own holes.
Drill a single hole in each corner of the piece of wood using the same drill bit, creating a space for your mounting screws to go.
Screw your tool hooks into place. The hooks should come with a sharpened point and grooves, so all you should have to do is hand-turn them into place. The depth of the hooks can vary to your liking.
Place the guitars on the hooks to ensure that they can hang without bumping into each another. You could also use a level in this case to ensure a balanced mount.
Bolt the guitar stand into your wall using four 3-inch screws. Use the washers to ensure that the bolt does not follow through the guide hole which you have drilled, and use your level to ensure a stable mount by placing it on the top of your stand while you mount it.