I’m self employed and my advice is to not take anymore than a few days “off”. Start planning your business tomorrow and getting everything lined up to begin working legally/properly. Our economy is likely going to be much worse in 6 months. The sooner you get at least one client’s commitment to build/replace something the better. The longer you wait the easier it will be to say tomorrow... Many people fail at being their own boss. Your first test will be doing what needs to be done today and not putting it off until “tomorrow”...
Another key issue is keeping your overhead low. That is the primary key to making money with lots of competition. Don’t go and spend all kinds of money on new tools, offices etc. Buy used, off eBay and/or similar. The first couple of years are the hardest even when the economy isn’t tanking and it is.
Just my opinion...
If you are able to be your own boss and are able to manage your time and money wisely I predict that you will be far better off in a few years than you ever were working for somebody else. It all depends on you. Some people love that, others hate it. Your choice...
The only cost I have is the government cost to become a LLC and local business licenses and insurance. I have all transportation and tools needed... paid for. Thanks!