For something like this to succeed, I really think you'd need to incorporate an innovative revenue stream or way of obtaining customers. The individual cost of producing each cookie is relatively low, but as many of the posters have indicated, most of your risk lies in being able to keep up with labor, real estate, and capital equipment costs.

If I were you, I'd be sure to have tested, killer cookie recipes, then consider...

-Integrating online ordering system for in-store pickup or shipping

-Cater to fans of vegan baked goods (definitely a burgeoning market segment)

-Work with moms and Susie Homemaker types to determine favorite cookie recipes or trends

-Perhaps use the store as a distribution channel for home-based bakers. I know a lot of people who think they bake "the best" cookies. There's a lot of different directions to take this; profit sharing, recipe licensing, etc.

-Develop an "open source cookie", modified by customer suggestions and input

-Keep a basic product line of old standby cookies (chocolate chip, oatmeal raisin, etc.) and have a secondary product line that's shuffled or changed very frequently (at least once a month)

-Publish an annual book of recipes

-Children influence how their parents spend money. Offer a free cookie on a child's birthday and seek distribution in local schools.

Just my thoughts...not sure if any of them align with what you had in mind. I think this is a very cool idea and could definitely succeed if executed correctly. Good luck!