This is something I have put a little thought into but not much. That I know of hand crank grinders generally don't have bearings. Therefore the rpms need to be kept low. I'm thinking 60 rpm max. 30-45 better. With gear reduction, as the ratio increases so does the applied torque. Therefore the starting rpm will have a lot to do the amount of reduction and that in turn will have a lot to do with HP/torque. It might be possible to use a 1/4 hp motor @ 1750 rpm with reduction to 60 rpm.
Now the reason I thought no further than this is Gear reducers are not cheap and neither are VFD's. VFD's are generally used for 3 phase motors, again not real cheap and most are run on 220 volt or higher. I decided even if I were to use a 110v motor and use v-belt pulleys to build some exotic belt reduction system, I was going to spend more in parts alone, not counting anything for my time, to buy a pretty nice grinder (not even a cheapo Harbor Freight).
Northern tool has a fair unit under $100 and Sausage maker has a really decent one with metal gears for $149.
All that being said, if you still want to pursue this path, I would suggest stripping the motor and belt reduction from a drill press or use the DC motor and power supply/control system from a treadmill. Both can be found fairly cheap on buy/sell/trade sites or craigslists.