Cheapcuts, its hard to say if there is too many. I don't know your area. There are many around here, lots of new guys that I will not see again after July. I've never had a hard time getting customers regardless of how many trucks with crapsman's I see.
A few particular areas might be saturated, but then you can go to other areas close by to get started. Learn as much about "grass" so you can talk with confidence with potential customers. If your unsure of yourself they will sense it and look for someone else. Don't lie to them though, its better to say I don't know than to speak some bs.
Money, well that depends on your work ethic and drive. You must know your operating costs if you plan to make money though. Beer money is easy to get, a profit is another situation.