I'm with Iowa on this one.
The other day a local saw my bobcat work ad on Craigslist and wanted a primer on how to start his bobcat business. Yeah, all I need is another competitor! But being the nice guy I am (really) I was honest with him. And I'm sure 10 years ago when I started other companies said the same thing about me. But I'm still around and they're aren't.
And yes, if it were that easy everyone would be doing it. However, just like grass cutting and snow plowing goes in my area (south of Detroit suburbs), we saw rates drop in half after the local laidoff autoworkers got their $100,000 severance pays and went out and bought new equipment and basically put long-established guys out of business.
More and more I'm finding myself competing with guys who do this work part-time or on weekends and are charging just a few bucks less than me. But they pay no equipment "mortgages", have no insurance, and pay no taxes. I'm just a one-man operation, work out of my home and my overhead is still $3000 a month. Tye only I can compete is I tell people (in the well-to-do 'hoods) would they rather I drive up in smoke belching truck and operate a 15-year-old bobcat dripping oil all over? Nope, of course not.