I have a creative/crafty business - not visual art though, I can't draw. :)
I agree with Frankies Girl, completely. I've had my business for 7 1/2 years now and trying to make money at it has sucked out a lot of the joy of creating. I learned that the work that I really enjoy making is not the work that sells.... and since I have a day job and limited time, the question becomes, what to focus on? Making stuff you love that's going to sit in my stash unsold for literally years, or making stuff that you are meh about, but you know will make you money? When there's not time for both - and there never is! - I choose the latter.
Plus, if you do art as a business, you are also now a marketer. Over the years I've spent WAY more time trying to get people to buy my stuff, than I have spent creating. It is hard to get your work seen these days, much less purchased.
I don't even like my craft any more, and when people suggest I try other crafts just for fun, it doesn't work out because my brain instantly jumps to "how can I monetize this? Would people buy this?"
Don't let this happen to you!! I don't regret going into business but I miss the days when crafting was pure enjoyment and stress relief.
As to whether or not you can make a living at it - I know people who do, and I know people who've failed. I myself do not make a living wage through my craft business. I'm usually in the black by a few grand a year, after expenses.