<2 cents>
A small business name should ALWAYS say what it does. Somebody sees the name Joe Smith Co, they will not know what you do. But Joe Smith knife sharpening is a winner. No question what Joe does. Of course creativity is OK, but say what it is you do.
I spoke to a gentleman that sharpened knives using methods similar to you. He set up at local farmer's markets. Hung a huge sign said knives sharpened here every |day the market was on|. The first few weeks he did a few pockets knives, paid for his booth rental. About a month in folks started showing up with their kitchen sets. In another month professional cooks started showing up with knives. Just about the time he needed to not do the chef's knives at the market so he could do everybody else came the requests to visit commercial kitchens on a regular basis. He claimed $1000 a week cash money in income. at $2/inch retail and $1.5/inch "wholesale" I think that is sincerely doable. I am sure he reported every penny to the IRS.
Because I sell sharpeners many folks (including close friends and family) make the assumption I sharpen knives for money. This has accidentally become a source of beer money. I get $2 an inch and I apply a 10 micron wicked edge to every blade.
In the pay it forward realm, whenever a friend moves into a new place I bring my Wicked Edge to the housewarming and make sure they have dangerously sharp kitchen knives in their new home. Plus everybody goes home with sharp pocket knives! I drink and eat less and everybody is my friend! A total winner.
</2 cents>