Not trying to discourage you TooManyShots. Simply speaking from hard won lessons, hate to see anyone make the mistakes I made.
Just an FYI, Joe is far from the only one who has made that general idea work, albeit the magnitude of his success is larger than most, as was Fong's.
Local lady raised her kids, then when the kids were in HS she got a job at a local "old tyme" photo studio to get out of the house, she decided she liked photography went to schools and seminars and learned the business. Most importantly she had always been active in the community, kids school stuff, volunteering and more. When she leapt out on her own she went straight to $2,000 base price weddings and marketed directly through her social network. Last I heard she was averaging about $5,000. I think she's been in business 8 years now.