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Can you honestly live off of the money you make when operating a small business?
Opening a small business is my dream. I think it would be really nice, but I worry about the money aspect of it. Could you live off of the profits you make with a small business? I know it depends on how much you make, but still, can most people who have a semi-popular business live off of the profits?
Yes the first year is the hardest. I believe that with advertising and unique gimmicks you could make it. It is all about thinking outside the box to get the ball going and keep it going. Keep pricing competitive but not let yourself be hurt. Keep it comfortable at first to get the hang of it. Then slowly increase the prices a little at a time. My aunt made a good thing out of a bad thing. She barely made things work at first but that was because she did what it took to build clientele. After that it was smooth sailing for ten years.
Small Business Basics : How to Understand a Profit-Loss Statement