Your shop looks awesome! I want to do the same. Do you have any tips?

Certainly! Brace yourself:

Space

When looking for a space, keep in mind that bigger spaces usually have a smaller cost per square foot. Go big or go home. In our experience it's not very hard to find somebody interested in renting a car/project spot. Whether they're willing to pay what you charge, whether they're reliable and trustworthy -- that's a much harder question to answer. Make sure you know the people you're accepting as sublettors, or at least somebody you trust is vouching for them.
Make sure the lease allows subletting and doesn't require you to pass on a certain percentage of the sublease rent to your landlord.
The landlord may require you to get a General Liability insurance. Ours is about $1200/year for $1mil coverage.
If you're planning on putting in a lift, make sure the concrete slab is thick enough. Ours is 1/2" over the minimum 4" required for a two-post, but I'm glad we knew before ordering! Just drill a test hole and use a coathanger to measure (bend it into a little L, stick it into the hole until you can hook under the slab, pinch the hangar at the floor, pull it out and measure from your fingers to the L bend)
- Btw, if you're putting in a lift bolted down to the concrete slab, you're going to have to buy a rotary hammer. A little "normal" hammer drill won't work (we tried and tried and about burned it out. On the first hole. There were 11 after it.)
You want electricity (at least 110V and 220V, 480V 3-phase is ideal -- second-hand 3ph tools are WAY cheaper) and at least one bathroom. A shower is a huge plus!
Security: you're going to store a bunch of cars and tools in there, so you want the place to be reasonably secure. If there are any windows (e.g. in the door), apply obscuring film. Also, get a bunch of cheap USB/WiFi-capable security cameras. As a bonus, they'll let you see if any of your friends are currently at the shop (or if someone is already on the lift).

Money

After rent, insurance, utilities, etc. you will have some sort of idea what things space is going to cost you (an arm and a leg, that's what). Divide up the money over the spots and round up liberally. Use the extra money as a buffer when people pay late and to buy tools and consumables for the shop. Given that many tools are hundreds or thousands of dollars, you will probably have to both round up liberally and be the one to finance some of them in advance.
Even if you're doing this with good friends, even if you're positive that no one would ever be late on rent, write in a late-rent penalty into your sublease. Seriously. This is actually the number one caveat BY FAR. It caused the most consternation over the first year because we assumed pleas like "seriously, we have to pay the difference out of my pocket" and "guys, SERIOUSLY we do not have an extra $1000/mo to cover several of you" would be enough for people to pay on time. People will still (occasionally) be late. So, the 2nd+ year's sublease has a penalty and is due no later than 3 days before the first of the month. So far, so good.
Make a friend-access pricing up front (inevitably, someone's friend will start to hang around more and more, and then start to change their oil...and fix their exhaust...and whatever. And members paying full rent will be all "wtf, man! why do I have to pay?").
- We charge $20/hr or $100/weekend. That fee includes "reasonable" usage of consumables, like the abrasive in the blast cabinet.
- Friends must be accompanied by a member at all times.
- Whatever permissions for borrowing the host member has with other members of the shop does not transfer to the friend unless explicitly granted (meaning, "don't borrow shit")

Amenities

Get lots of shelves.
Get internet + WiFi. We charge people +$20/mo to use it. For us that basically covers it perfectly. Any extra money you can invest in the shop's infrastructure (e.g. wifi cables).
Get a stereo(s) with an apple airport express so people can stream to it (if they pay for WiFi).
Get a fridge off Craigslist. Get a washing mashine off Craigslist.
Get a couch (great for eating lunch/dinner. Worst case, it's a mediocre bed.). Don't pay for the couch, it's going to be ruined in the first 10 minutes you own it. Freecycle/Free Stuff on CL.
You need more shelves.
Have a lost-and-found section (people will leave tools in the common area)
Have a lot of garbage bins (don't forget to set up garbage service)
Have a first aid kit handy and several well-located fire extinguishers.
If there's not a utility sink, you'll need to put at least one in.
Think you have enough shelves? You don't.
Fast Orange or similar hand scrubbing goop, finger nail brushes (THEY ARE NOT PARTS CLEANER BRUSHES GODDAMMIT!), and old towels
Make a little general store that sells common consumables (paper towels, Oil Dri (or kitty litter), nitrile gloves, etc) at cost (round up to the next dollar) and is restocked frequently. Because people with the convenient/foot-trafficy spots will find their consumables being "borrowed" an unreasonable amount. Here's a list of things in our store:
- Costco nitrile gloves in sizes M and L ($12 a box), heavy-duty nitrile gloves ($20 a box)
- Jugs of kitty litter / sacks of Oil-Dri for oil spills ($10 for 40 lbs)
- Shop towels ($2 a roll)
- Foil turkey pans (bulk from Costco sold for $1 apiece. Great for drippy things)
- Littler foil pans (also bulk from Costco, $0.50 apiece)
- Clear plastic bins + lids ($2 apiece, I think)
- Cheap (but functional) 12V battery chargers
- $1 bin: AA batteries, sharpies, crappy flashlights, electrical tape
- $5 dollar bin: safety glasses, little cans of wd-40, little bottles of loctite

Group Tools

Write up and laminate instructions for all the general-use tools. DO NOT assume people have experience with anything. Make sure you go through usage, safety, and "protips". Insist on in-person orientation for the tools that can [easily] kill people (lift, gantry crane, etc) or that be seriously damaged if used improperly.
Rolling magnetic sweeper (http://www.harborfreight.com/30-inch-magnetic-sweeper-with-wheels-93245.html) This is VERY IMPORTANT -- insist that everybody use this tool after they're done working on a car in a common area)
Sandblaster cabinet (it's fucking awesome and reasonably cheap from Harbor Freight)
20-ton press
big air compressor & plumbing (rubber iso-mount feet to quiet it, RapidAir MaxLine run around the whole shop, one air-drop per spot + the lift). We have a 60gal. I kinda wish we had an 80gal, but our 60 is a good one and recovers fast. You want all the SCFM you can afford (there's no such thing as too much flow, only too much pressure).
Parts cleaner tank (non-petrol). You can get the detergent from Home Depot -- make sure to get the non-toxic stuff that you can just dump down the drain.
Cheap workbench (solid core door that was left from a previous tenant on sawhorses) with machinist vise.
8-12' gantry crane with hoist
Big drill press (now we have two, actually)
9K lb car lift
Lift accessories:
- Underhoist stand (http://www.harborfreight.com/automotive-motorcycle/lifts-stands/2-ton-capacity-underhoist-safety-stand-41860.html)
- Impact gun, air nozzle, tire filler
- Magnetic nut/bolt dish, magnetic/hook work light
- Extension cords
- Hook lights
- High-lift oil drum thing (getting people to empty this is like pulling teeth)
Brooms, dustpans, box-style dustpan-on-a-stick for sweeping up kitty litter (which you can/should re-use until saturated)
Shop-vac (get a big one. When it burns out, buy the same kind again and keep the old bottom-half for gross/oily clean-up ONLY).
Abrasive cut-off saw (actually mine, but I let everyone use it)
12" disk sander (actually mine, but I let everyone use it)
Band saw (vert/horiz convertible is nice -- make a decent table for vertical mode)
MIG welder (didn't start out as general use, but it's been borrowed more than I use it, I think)
Plasma cutter (not actually group-use, but people borrow mine a lot)
Engine hoist (or 4)
Transmission floor jack
Engine support bar (http://www.harborfreight.com/1000-lb-capacity-engine-support-bar-96524.html)
Ladders (again, these are actually mine, but get borrowed liberally)

Cleanliness

Collect as many plastic 1 gal jugs as you can -- used oil needs to be put in something -- at year 3 of Rat Hack, we actually signed up with an oil recycling service, who comes and swaps 50 gallon drums when we fill ours..
Be very strict about not leaving common areas and common tools in a messy state, leaving trash and used consumables (oil) in common areas, etc.
Insist that people regularly sweep the common areas around their spot to keep the shop generally clean and free from spikey metal objects that puncture tires, such as bolts and nails. See also: magnetic roller.