The point I was trying to make is that a logger, with the same amount of capital investment in equipment and personnel, can probably generate more sales and profit that anyone selling firewood. The reason is that a logger only needs a few commercial/industrial customers and can collect about $1,000 per flat bed load. Working dilligently, a logger with perhaps only one part-time employee helping, can then bring in $5,000 a week.
I doubt seriously that any firewood partnership, even selling to dozens of customers could do that because of the labor intensive effort involved to process it and deliver it. Perhaps it could be done, but it's going to take some dandy equipment and a bundle of steady customers. In this neck of the woods, that's virtually impossible.
I would agree with you on gross over all economics. I think a case could be made for a good arborist company making more per man hour though, in most major urban markets. Technical take downs and clean ups are not cheap.
but...I don't really know that either, don't follow any of the markets all that close. I do know around here the vast majority of "pro logging" is done with harvesters. You can see that by what goes by on log trucks, stripped pine logs, 9 out of 10. You see some large diameter hardwoods on trucks, but not a lot. I think most of the hardwood action is guys doing firewood, small scale commercial or like personal use scroungers. Most of that you see is in pickups or pickups pulling like heavy car trailers loaded down with rounds.
Yard tree removal and like powerline trimming is by far and away the most common wood cutting (guys with saws in their hands) activity I see. So I would imagine that is the most in demand, so the most profitable, even after equipment expenses and so on.
There's a lot of personal wood burning here for heat, but it isn't anything like up north, so you don't see those sort of prices. Plus, this is a heavily wooded state that has gotten nailed three years in a row now with massive storms, fifty buhzillion cords came down and were cut up and dispersed. People who wanted wood could go get it for the hauling. I know I have offered some free hickory around here for guys to cook with, no takers! Everyone has wood already.
On into cold weather, firewood sales go up, you start seeing stacks here and there by the road for salwe, or guys sitting in parking lots with trailer fulls, but this time of year, meh.