Hi Andy,
As long as you don't expect to get rich doing it, you should scratch a living.
I opened my shop in 2010 in a totally new area after being out of the trade and the UK for 8 years! I hope to be in profit next year, maybe even this year. Which isn't bad as I started from scratch in an area where I wasn't known. If you are good and reasonably priced, word soon gets around.
As for test equipment, stick with what you have for now. You won't know what you need until you see what equipment you are getting for repair.
I set up as an electronics repair shop, with a view to repairing LCD's, Plasma's and some high end hi fi stuff. Didn't go that way! Most of my work is electrical, vacuum cleaners, espresso coffee makers at the moment, microwave ovens, even table lamps easy stuff no one else wants to repair. I actually find repairing this more profitable that TV's! I no longer take in plasma sets for repair because of the hassle trying to get parts, and I found my customers didn't like the thought of having used parts fitted.
Vintage repairs are nice, but would you get enough? Or is it to be more of a hobby?
Good luck, and there plenty of people here to help you on your way.
Hi Tony,
I've seen the GQ4X on the other site, what's so special about it?
I use a cheap Chinese jobby!
Keith