Yes you can. Its a great job when people are hiring, you have lots of income. When the jobs vanish during a recession, you don't make any money and starve.
If you are able to manage the up and down cycle, its great.
I've been through two periods of it being bad (2000 and the later recession) but I managed to do well enough. Lots of recruiters leave the market during the down cycles, and when it's up we get tons of newbies. You only need a phone/email and a LinkedIn account to jump in the field at the lowest level.
I'm working on embedded linux devices as a software tester and part technical writer, however, I have managed to get around 6 of my friends and ex-coworkers positions in the past 12 months, with another three going with counter-, or other offers. This year I have realized that I've become a lot of peoples' go-to person for creating better CVs, LinkedIn profiles and cover letters for applications.
Living in the EU is somewhat limiting in the legal and financial sense, because I am unsure about cross-country pay-outs, recruitment and legislation. Do you happen to have sources where I could learn more about these things? I might just make it a side-business to my existing one to refer people as a recruiter agency, not simply via already in-house acquaintances (which yield mediocre referral bonuses in many cases).
Funny enough, I also have a second business where I do resumes, cover letters, LinkedIn optimizations/reviews, and career consults for people who need help. I don't know the laws of the EU regarding recruitment, but I know historically recruiters at least in the UK were a bit more respected than here in the US - not sure if that attitude has changed or not.
I'd go on LinkedIn and find a recruiter in your area - they may be willing to talk to you about the business. My blog (jobtipsforgeeks.com) has a handful of articles on recruiting topics as well.
If you are able to manage the up and down cycle, its great.