We are going to be opening one soon here in Charlottesville, VA
Putting together the last of the operating capital. It will work with the correct plan and that is what we have been working on for longer than I care to admit.
Best of luck to you.
That was my plans for the extra space in my dream shop. One of those, if I won the lotto and started my own company.
All/most of the concerns have already been voiced.
Liability - people are idiots and LOVE to sue. I would have to keep it limited to a few local clubs at first and hope for the best. Make sure you get a competent lawyer to help draw up the waivers.
Small, local clubs are all fine and good, but you need a bigger base to help pay for the consumables, recoup start-up costs, etc.
Start-up Tools/Theft/Loss/Breakage - If I won the lotto, it wouldn't be difficult to outfit 5-7 bays full of tools... WPAFB Hobby Shop shares a big tool chest between two bays and specialty/power tools are in a locked cage you have to sign for. IIRC, there were ~12 bays.
After hours security would be required around here. On base it is pretty easy.
Labor - with the above sign out plan, you will need someone there during working hours. It would help if he were a retired mechanic. Someone who couldn't crawl around under cars, but knew everything about them.
There was an old dealership in my hometown I always wanted to buy. The whole back end was five double drive through bays; two being big "semi sized" doors. It would have been cool, but I don't think there were enough kids modifying their cars in the area to sustain the building.
More reasonably, I almost pulled the trigger on an old two bay in the next town over. It was an oil change place, prior to that a gas station. EPA fees made it cost prohibitive to try to get a loan for the $45,000 building (10 years ago).