I can see where you're coming from. Difficult to get established and be working full time for the first year or two I imagine.
I suspect the way to go would be to be a weekend hobbyist, get a reputation (good ones are better no doubt

) in the industry, earn a few bob into the bargain and then move into things full time when the order book is full enough.
Still the startup costs are relatively high. No doubt they are more than the first estimate of £5K. I didnlt include the cost of a decent VE rig (about £2.5K) and a Wedding Videographer's toolkit (wipes and animated backgrounds) £??? as well. Our £5K is already over 8 now!! And then there's local advertising, website creation etc.
Still, as we're already into the 'hobby' we'll already have one camera and a VE rig of some description. Start as budget videos with a single camera until enough money comes in to get the second one.
As a hobbyist though, what are the costs involved?
Giving up your Saturday, Mini-DV tapes, powere to charge the batteries and drive the rig for editing. Time for editing. How long's it take guys? Couple of 9-to-5's (or evenign equivalents) to bash out a handful of competed DVDs?
I reckong I would do that for about £400 a pop. Sound about right?