Very Good Advice from S.R. Custom!
Being able to survive doing gun work is tough.
Only work on high end items. Weed out the cheap work.
Do nothing for free. Friends and relatives are time stealers.
The old advice concerning starting a business, what ever it is: You must have a minumum of a full year reserve of cash to live on before you open shop. Three years is better.
Biggest cause of failure in the custom gun world is starting out under capitalized.
Do not buy tools and machinery on credit!!
Do not buy supplies such as barrels and actions and stock blanks with a credit card!!!
If you do not have the capital up front to sustain the business you are doomed to failure. You will just be running a Ponzi scheme.
Got a wife and kids? Keep the real job and only do gun work part time.
Learn all the rules and regulations for gun work and running a small business. Your neighborhood may even have a restriction on small business. City Hall and the Court House are your friends, pay both a visit and find out what is required. Get involved with your nearest ATF office and talk with an agent.
Security, security, security. No one but yourself and your designated representative should have access to the firearms, parts, and ammo/reloading supplies. Don't have a big safe? Start saving money.
If you do it right, you may build a nice business.