Interesting to think you can just wake up one morning and decide to be a transcriber.
Audio transcription requires not only the software and foot pedal but also:
Extremely acute hearing - audio files may contain background noise, speakers not seated near microphones
Being accustomed to quickly and expertly type all accents and dialects. Interviews and dictation will not always be conducted in your familiar accent - could be a global accent even.
Expertise in punctuation. I've given out transcription work recently and been shocked at the results. Inverted quotes, ellipses, correct use of apostrophes or exclamation marks etc.
Peace and quiet - It can be extremely difficult to slot this around the needs of a young family. It requires time, dedication and patience. Imagine listening to a conference call with six or seven participants, all speaking with regional accents, and all needing to be personally identified in a transcript while you have a toddler making demands on you.
Deadlines - bearing in mind one hour of audio material takes around three to four hours to transcribe for a relatively experienced transcriber - can you guarantee to meet customer deadlines.
Transcription is not for the faint hearted. I don't think people always appreciate the skills required. That said, if you really think you can make a go of it, there's an ever increasing amount of work out there waiting for freelancers. It can be lucrative if you're efficient. Having successfully built my work up for 15 years, I wouldn't go back to office work but my youngest has now gone to university and I have the luxury of a peaceful house. I doubt I'd consider it otherwise.