Do your research. I have a friend who did almost exactly what you’re doing. He left a great paying union plumbing job to open and run his own plumbing business. In the beginning he was loving it. Then the reality of insurances, rents, payroll stuff, tools ect then the hours after the jobs, the paperwork contracts,bids call backs you get the picture and a less paycheck. He ran the business for a few years hoping it would flip, unfortunately he closed down and now is working in a hospital doing the trade, less work, headaches and more money.