The bad:
The vast majority close within 2 years. With loads of debt from mandatory start up, regulatory, self employment taxes, training and licensing fees.
There is no medical, dental, disability or retirement barring out of pocket plan$. Income is highly variable for first few years until you establish a solid reputation.
Group child care and teaching are not the same thing. From master to servant, you go.
Parenting and group childcare are not remotely the same thing.
It is hard to go back to work after an employment gap. Employers assume something is "off" with you.
The ugly:
When you make a typical parenting fail, you can be criminalized for it. We are held to a different standard and your family and future can be ruined by someone with simple hurt feelings.
Daycare providers own kids are historically the most difficult kids in your home. They will resent the other kids and act out accordingly when they are done with them, everyday. Other parents will resent your kids presence there and look for favoritism.
We have a high divorce rate in the first few years of operating as our spouses do not agree they should have to take on extra burdens because we chose to work from home. The kicker: they will be right.
Sounds easy now, wait until month 3, then read that sentence again. (hint: it will make you angry at me for saying it)
The best:
I will never regret watching my kids grow up at home. They are now grown and moving on with young adulthood.
My marriage and family are strong and I am grateful for the opportunity and success I found in this ever changing field.