I think it is a wonderful "idea" I have often thought of starting my own in my home. But I would be the teacher.
However, I don't think I would be comfortable allowing someone else to run their business in my home. What if you or one of your family members were sick you would still have to allow all the other children and the teacher into our home. Even if you have a tight sick policy, additional kids means additional germs and sicknesses coming into your home. No matter what your schedule is like you would have to make sure your home is clean and orderly everyday that other children are coming or else parents will not feel comfortable leaving their children there. What if you were traveling? Would you be comfortable having them in your home if you were gone? You also would need to consider the possibility of increased insurance needed on your home. You also need to consider personality compatibility, you and the teacher just may not mesh when it comes to the treatment and organization of your home. Children can be very rough on a home especially when there are several young children together. The wear and tear on your home alone could end up being costly.
Although I think this is a wonderful concept, I think in the end it may be a lot of stress on you and it could end up costing you a bit of money. Especially if you are thinking of letting him use your space for free. Also, I would think that it would be mandatory that your child attends free of charge if he's using your home
Good luck in whatever you decide!