S.H.
I am a pro photographer and I was once where you are now. I say go for it! Until you have a great portfolio and an excellent case of equipment, though, don't charge a sitting fee. Or if you do, make it nominal. I learned that once I regularly started getting clients I had expenses, like babysitting. Make sure you price your prints in such a way that those expenses are being met.
Go down to city hall and file for a DBA and sales tax number. You MUST have a good contract. Get a lawyer who specializes in retail contracts to draw yours up. It has taken me years to finally understand what needs to go in it, but the bare bones are a good place to start.
Now, do understand that when you are making professional images and charging for them, your equipment really does need to be top of the line. If you have an image that the client wants to zoom in on and then blow up for a large wall print are you going to be able to do that? It's embarrassing to say, "Sorry, we can't do that. My equipment doesn't make images that clean." If you're charging, you have to be investing. Last yaer I spent $35,000 on my business. I've been doing this for some years now, so that's not even my initial investment. That's ongoing costs of advertising, 6 mos. of studio space (cheap space at that) and a couple of bridal show along with sample images, insurance, professional fees, new equipment, just basic stuff that I have to do to keep going.
It's a struggle to hawk for clients. I'm an award winning photograher, high end, sought after, but I still call lead lists in order to stay afloat.
There is a business side to photography that I think most people miss. I see people start and fold all the time because they don't understand pricing, marketing and customer service. Study these things with the same intensity you study your craft and you have a shot.
I wish you all the best. You'll never know what could have been if you don't give it a shot!