I have worked in the trades as an electrician and then became an estimator/Project Manager. Most are small businesses that are barely hanging on. It is often not a path to wealth. Many of the smaller businesses are being bought up by private equity now to drive up prices. The tradesmen are not getting wealthy and typically will not become wealthy. Licensing a business is different than the license a tradesman gets. Rules vary by state and are often require the approval of your would be competitors, regardless of demonstrated skill and time in the trade.
The facts are that the overwhelming majority of Trades(people), are terrible business people. They may be excellent at their jobs, but very, very , very few have the business skills to build a solid business. Those who do, do extremely well well. Those who hire people who have the skill, do really, really well.
Not that different from engineers. Very few have business skills, but those who do, do very well.
