Cat and Cannon Bookstore, Lake City, Seattle

I'm not a business man, but I do have a vision for a business. It's inspired, largely, by Third Place Books in Lake Forest Park, WA and probably many other independent bookstores.
Anyway, here's what I envision. Start with an independent bookstore that sells new books and trades in used books. Add in a cafe (coffee, sandwiches, etc.) and a reasonably sized multi-purpose area for eating, reading, and studying. Next, put in a small stage for usable for entertainment or education and a couple of private meeting rooms.
The idea would be to create a community space centered on the bookstore. I'd try to have lots of events and activities to draw people in.
Would it work? I don't know. But in my vision it's awesome.