Bless you and your passion for this work. No one wants to be blunt. But I will. I will tell it like it is.
Don't do it.
Why? Because there is no money in it.
That is why there are so few competitors.
Entrepreneurs want (almost) everything for as cheap/free/lowcost as they possibly can. And as much as you and I understand the critical important of design, the unfortunate reality is that when the rubber hits the road-- the entrepreneur wont pay for it.
Just look at the other answer you got to this question. It is a good answer -- it got two (at the time of my rant) upvotes. It is the answer that 100 people just like you are getting right now. In their cubicles, coffesshops and design-classroom discussion. The end result is that there are tons of hungry talented folks offering to do basic design work for free to build their portfolios.
Search this site to see how many times 99designs is promoted. That is what you will be competing against. Not just in reality but in expectation. People thing that they should be able to get a corporate logo set "from $295" Now even if you pay yourself a dismal $30/hour -- you and I both know you can't do a real effective corporate logo targeting a specific market that captures the essence of a company and contributes to the telling of their story for $295. No, they get a 'fast-food" computer generates standard piece of shallow crap. And if that is what you are going to be doing-- then why do it right?
Search this site about design and see how many times people recommended that folks push it off, post pone , wait until they have the money, . . . . and guess what-- much of the time they are right. The company shouldn't be spending money on good design until they have their product and customers and are generating real revenue. At which point they wont consider themselves a start up and will go to someone who target's their market a little differently.
My wonderful sister is an artist. A fantastic photographer. I am so proud of her that he is making it. Early in her career she had a niche of doing album covers for bands. Everyone of them could be considered a micro start up. they needed the picture to produce the record, to go on tour, to build the fans to get the record deal. So they were always asking her to please take the picture for a "piece of the action" Yeah, right -- investing in bands is almost as bad as films, or restaurants. She put her foot down, said no -- and hasn't looked back. Now she has the capacity to help out when she can-- because employees are being paid and the rent check is covered.
If you are doing it now and it is fulfilling -- fantastic. keep doing it. Grow it organically. Do what you can handle. Hire an assistant when you can afford it so that your capacity to do more grows. . Build longterm relationships with the serial entrepreneurial so that you can design him a new logo set every 10 years or so.
But don't kill it by thinking it is a business. :)
If you choose to ignore everything I said above -- great-- could you throw me a card or a link so I can see some of your work. We always need someone for niche projects. :)