I am against having a shop at home for several reasons. (And I am assuming it would be legal under zoning laws, etc.)
One thing is that gun shops tend to attract attention from folks who are not always law-abiding citzens. Even if the shop is in an outbuilding, a couple of BGs who want guns at 3 AM will come to the house. Even if you are so macho that you are sure you will win a shootout, your family just might lose - their lives. As for alarms, those guys cut their teeth on disabling alarms.
Another thing is the same 3 AM knocking and pounding, but not from a crazed drug gang. Just a crazed hunter on opening day wanting you to fix, right now, the gun he broke last year. Or the guy who wants to wring your neck at 10 PM because he missed his deer due to the scope being crooked - he had it put on by another shop, but they are out of business, so it is your fault. Less dangerous, but no fun either.
Another concern is fire. Gunsmith shops have gas welders, oily rags, and all the other goodies necessary to create a nice blaze. Having one in or near your house is not only a danger in itself, but will raise your home insurance rates skyhigh and also be a danger to your family.
Then another enemy. If your shop in in or near your house, you will stay there long hours to "just finish this one little thing". If you are married, the little thing that gets finished will likely be your marriage. If you have a storefront with fixed hours, you will be more likely to go in at 9 AM and leave at 5 PM (or whatever hours you set).
OK, if you think none of the above applies, and that I am full of it, feel free to tell me and just consider the above MHO.
Jim