I've thought about doing the same at some point, I really can't see an issue with it as long as you're completely passionate about the art.
Management is management no matter what the business.
I think the only issue would be recruiting suitably talented artists but if you can offer a better deal than they're currently getting, and can offer suitable premises, I think you could be onto a real winner.
I would look for input from an artist in setting up shop though, you need to know what they'd want to see in there.
A permanent reminder of a temporary feeling.