I just wanted to add my two cents in, as I am all for helping cakers become a success.
As I understand it, you are currently taking classes and formulating a business plan. Are these business classes or decorating classes?
I also understand that you are taking a break to figure it all out.
I would google custom cakes in your area and see what your competition is. How your cakes compare to theirs, what they charge, etc.
You may also want to post some more of your pictures of cakes that you have done for some honest critiques. Right now all you have for us to see is the self-described disaster of a WWE belt. I'm assuming you've done lots of other cakes?
If you plan to go full-time with this I would make sure that you are the best in the area. And yes, you can make delicious cakes that look OK,or OK tasting cakes that are perfection. But I believe having BOTH gorgeous cakes AND delicious cakes is what will set you apart and make it possible for you to charge more than others in order to make it a success. Otherwise, you may end up doing LOTS of cakes for lower prices, as your skill level will dictate, and become VERY frustrated with the amount of work compared to the amount of money you will take in.
What ever you decide...good luck!