Here are some pro's and con's I can speak on from my personal experience.
1. You have the ability to make your own hours
2. You have a business that can adapt and expand to current IT trends
3. You will be in an industry that is always expanding and you will never run out of potential clients.
4. You get to create business relationships and help other companies grow their product and is very rewarding.
1. Lot's of competition.
2. Since the IT field is constantly changing it requires a lot of "homework" of keeping current with new innovations.
3. Cost to maintain your company infrastructure may be a large sum, depending on your scope of support.
4. You will require a team that are capable of all aspects of IT support, so again cost.
5. Some projects can be magnanimous or high stress.