Does this space work?

[workshed]

So I found a building in town here that I can lease for $700/month. It's a main floor of an old, small house. Location is great and accessible. I want to use it as dual purpose office space for my main business, which is web design and graphic design. I have two contractors who will work on-site a couple days a week. The other use I want this for is to open a small studio. I'm in a small town, and there are currently no commercial studios here. I want to stake my claim and piggyback it onto my other business and see how it goes. Anyhow, the floorplan, as far as I can remember, is like this:



Does this look workable? I wast thinking of putting a control room window between the living room area and the bedroom, then making the bedroom an iso/dead room. The dining room area could be a live sounding room with the kitchen behind it. And then the rest of the living room area could fit a couple desks for contractors/employees.

I have a line on another building that might work better, but am going to check it out in awhile. This one is $1000/month with 1200 sq ft of offices upstairs and a full basement downstairs. I could sublet space on the top floor, which would help me absorb the monthly costs.

Thoughts? Am I insane?

-Bret