Yup, give it a try. That way you'll know for sure.
On the money end of things I found out that increased production didn't always mean increased net profits. More machinery and people equal an increased cost of doing business. Always.
At the end of the year what I could actually put in my pocket and call mine was always surprisingly little. Don't get me wrong, I did alright...but it wasn't the huge bucks that a lot of people thought. After all was said and done I was making about what I would have if I'd been running jobs for somebody else.
As you've no doubt already discovered a guy with a small business pays himself last, after everything and everybody else is paid. Sometimes he doesn't pay himself much 'cause there isn't much left.
Getting a good crew is hard but it can be done... in time.
Keeping a good crew is what's hard. Most guys have a rough time adapting to the logging lifestyle. Unless a guy has been around logging for awhile and understands the transient nature of the work he's probably not going to like it.
And if you can't provide enough steady work for your guys to make a living they'll drift away. If you're constantly hiring new people you're going to be spending time training them. Time spent in training pays off long term but short term it's expensive and production suffers. If I had to continually train new people I couldn't make a go of it...simple as that. The margins are slim enough that if production suffers I might not be able to pick up the slack that a new guy causes for quite a while.
I'm lucky where I am in that I know enough experienced guys that if I need to put a crew together I have good people to choose from. There's always a few guys around who are looking for work...sometimes more than a few. That statement, in itself, is a comment on this business. There are always more guys available than there are steady jobs. Always.
If you have a pool of experienced guys who want to go logging you might be alright but if you have to train a whole new crew from scratch you better stock up on Excedrin and Rolaids.