That blacksmith shop was owned and operated by Ephraim Cole, son of James Cole, Jr. and grandson of James Cole, Sr. (the emigrant). James, Sr. opened his Cole's Ordinary (a tavern) on what is now Leyden Street in Plymouth in 1637. He passed it on to his eldest son, James, Jr. James, Jr. then transferred various parcels of Plymouth real estate to his children, and the piece almost across the street from the tavern went to Ephraim. I believe Ephraim lived on the same lot, next to the blacksmith shop.
I have a lot more on this early family, if you're interested.
Franz Martin