Owning a business sucks. Be sure to include your opportunity cost in any analysis you do. Do you like spending time with friends or family? Do you like to do anything besides work? If you'd value your leisure time at anything over about $0.10/hour you'd likely come out in the red if you own your own business.
That was exactly the point I came to after owning my own business for close to 30 years. For the first few years, it was exciting and the work was fun. After about 10 years, it became just a job I went to every day.
I'd say it depends on how good you are with money. I have a friend who owns a bike shop, small operation with an additional employee during the summer months, and he saves up all year to be able to stay open in the winter. He's EXTREMELY good with money, don't know how he does it, but it's possible and he loves it. He's been doing it since 2003.
So, you basically have to be a homebody.