I spent a bit of time thinking over this for back end code but decided not to pursue the idea.

If you are careful with the clients you bring on it can be lucrative. But it didn't seem like it would be easy to begin delegating the coding work quickly. My wife and like to take nice vacations and that would be a big conflict. Additionally at a personal level I believe it would have taken me a long time to build the staff and actually free my time up as I don't have recruiting or management experience. At the start it would take up a considerable chunk of the day. Considering all this we agreed this was not worth it.

Maybe it will work for you, especially if you have the prior management experience or timeline to begin delegating.