I sell a variety of african cichlids to an LFS about 75 miles from me. This store is cichlid heaven! I don't know what he pays wholesale for his fish, but I bet it's less than I get. I usually get about 1/3 of what he sells them for, in store credit. I don't raise the fish to make ends meet or anything, but it's fun to get some extra $$ to buy gear every few months.
Unless you get really serious about breeding, it's hard to imagine making any significant money. If you want to do it for the fun, that's another thing entirely.
Jim