Been there done that.

Now I have the good job and teach flying during the evening and
Weekends. That is when most students have time to fly anyway.
I did teach full time for about 6 month once while I was in between
jobs that pay much better. The problem with being a full time CFI is
that you get up in morning turn on the weather report to see if you are
going get to go to work today and if you are going to get paid. May
work pretty good in Arizona and there are a few places where CFI's can
get paid a Salary rather than by the hour but that is not the norm.
Also after you spend about 40 hrs per week in the air it can get old
and is not near as fun as if you were flying only 10 hours per week.

1. I fly because it is fun and I would like to keep that way.

2. I fly because I like to, not because I have to. (to pay bills)

3. My flight instruction generates just enough income to support my
hobby of fly gliders.

4. I get to fly a lot of neat aircraft and people pay me to do it.

5. I now fly about 350 hrs per year as opposed to about 50 to 100
before I got my CFI.

6. I have almost no interest in flying for the airlines I would have to
take 50% pay cut and would be away from home a lot more.

I love being a part time CFI, I highly recommend it. For me I really
don't want to do it full time, But I am sure it works well for some
people.

Brian
CFIIG/ASEL