I have a small part time sharpening business in my home. Most of what I sharpen is kitchen knives. "Most" being about 75% of the time. When I started, I was amazed at how poor some people have treated their kitchen knives. Most were as mentioned were severely damaged with the pull through, or the Chief's disintegrater as I call it. Some were of the Farberware type with hand axe shaped bevels. They severely needed re-profiling. This all said, I use the paper wheels to sharpen my knives, along with a WSKTS to do major repair and re-profiling. I charge a flat rate of $5 for kitchen knives, and can have them razor sharp in less than 8 minutes unless there is major repair needed. On folders, and straight hunting knives I usually charge from $5 to $10 dollars depending on their condition. No extra charge for multiple blades on folders. Again, I can turn them out in about 10 minutes if no major work is needed on them. I will not sharpen "designer and novelty" types of knives, as they are not designed to be sharpened. Same with Pakistani steel knives. Not worth the wear and tear on my equipment. That said, there is not a lot of money in just sharpening knives unless you have a large client base.
I do it more as a hobby, and as you stated, I can only sharpen my own personal knives so much. I do sharpen family and church friends knives for free, as they pass the word around about my ability, so I get free advertising. The paper wheels allow me to get a knife razor sharp in a minimum of time so I can keep my rates low, and can feed my hobby with enough profit to buy or replace any supplies I may need or want. I have yet to have a dissatisfied customer or any complaints, and usually get repeat business once they see how pleasant it is to use a good sharp knife.
Be Blessed and good luck in your venture!
Omar