That's actually a good idea, space-wise, but just keep in mind that a 55 gallon glass tank has heavy glass, so I would make sure to support the corners once it's no longer sitting vertical as it was designed to do. If it's like most tanks, it has "molding" at the bottom & top that creates a little space under the corners when it's turned on it's side- I would add something the same thickness on those bottom corners to help balance & support the weight of the glass, so it holds together better.
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