This has been covered, but here is my opinion.
Mulching is a very difficult niche to get into, especially in this economy. You need to be prepared to pay cash for the CTL, mulcher head, trailer, and truck. You can't pull most of these with a regular pickup. Unless you have a good contract, you won't be able to make payments for the first year or 2 while you build the business. Every job you do will go to fuel, advertising, service/maint, and repairs (because you will break things). You also need to plan on not being able to get a paycheck for at least the first year, maybe more.
You can use residential and/or individuals as fill in and can often make good money on those jobs. But in most areas, there just isn't enough of it to stay busy. Most of them only last a day or two so you would need a bunch to stay busy.
Look at equipment trader, etc at how many machines are for sale. Many are from going out of business. I talked to a Fecon rep today and he has been selling machines to several of the national forests, so that portion of the work is going away.
I'm not trying to discourage you, just giving it to you straight. If we had to make payments on our equipment when we started we never would have made it. It took about 2 1/2 years to turn the corner.