It's a labor of love, if you truly love to do it. A lot of hours, a lot of work. Somtimes after an event I ask myself, was it worth it, and to me it is. It isn't always about the money for me (yes, it makes a huge difference), but I truly love to cook for other people. But it is not my primary source of income.
I have spent an entire weekend cooking for other people. Then get up and go back to work Monday morning, worn slam out from the weekend before. I have done the drop and go to hiring people to be waiters/waitresses. Only you can make the final call. Just remember that the product you put out is a reflection of you. Also you can't control the weather. I have done catering in a pouring down rain, wind blowing and cold temps, to blazing hot summers.
I am a long way from where I started. The first few I did I lost money because I had no idea what I was doing, now I can actually make money from the events I do.
You only fail if you do not try.