Just my 0.02 but "tables, chairs, couches, etc." is very very far from general woodworking. Chairs alone can be some of the most complex, difficult, and costly, things to build. Look at generally available quality factory build dining chairs. They are not cheap. the 250 and under chairs you see out there will be unattainable to make profitably in a small shop.
If your looking at the Pinterest world of woodworking you'd better hold onto your hat with regards to profit margins unless your working nights and weekends after your day job for the $20/hr (if you can even come close to that) rates mentioned above. Kicking off a profitable furniture making business from scratch which is what you outline is very very difficult.
I would advise you to spend several weeks/months heavily studying your market. Go out and network, make some sales calls, talk to potential customers, get direct input on ideas for products and market pricing then sit down and calculate what your actual costs will be to build these items. Very easily done long hand on paper or with a simple spread sheet. You dont need to build the actual work to figure out if you can be profitable. Setup columns for time and cost for everything from calling around to procure materials, doing drawings, meeting with and quoting customers, picking up or taking delivery of said materials, loading it into the racks, taking it out of the racks and making product, sanding, finishing, invoicing, cleaning and maintaining the shop and equipment, delivering product, on and on.
At that point you will be able to see what type of margins you can expect (they will inevitably be lower) and how much volume you will have to do to earn a living.
I agree with Rich that you will find many small shops are simply not profitable and rely heavily on a spouse with a good job and benefits (a luxury Ive never had) or a shop that was built and established largely while earning income from another job. That is to say a shop space, tools, and some bit of an established customer base and reputation.
Only you can decide what works for you but if I were in a situation as yours I would be working on the side establishing an extremely solid customer base before I ever ventured out on my own. It will mean not seeing your family, working every night and every weekend and while laying in bed at night, but you will at least have a base and you and your family will be prepared for you to go full time because you will likely still be working nights and weekends and in bed at night once full time.
Just my 0.02