I don't do it, but I have spoken with a few guys that live near a marine environment (Florida mainly) & have made excellent money doing aluminum, magnesium & SS prop repair. I know the marinas that send props out for rebuilding get some good money for it. I have seen a couple of friends trash their props & spent big dollars getting them fixed. I would say a lot would depend on where you lived & if a strong market exists, with good paying customers with expensive watercraft, not weekend warriors with little invested in theirs. Being an experienced weldor, you shouldn't have any problem with the repair aspects. I believe the prop pitch & other stuff play into it, but once you got it down, you could probably make some serious money in the right place.
Good luck on it. S.W.
I've done it, and I've seen it done in a real marina repair shop. They are usually 50xx aluminum or 316 stainless. I've done some where the end of the blades needed some work and it is not very hard. This type of repair is easy do at home.
When a blade is actually broken off or torn, that's when you really need a press and die to put the proper pitch back in the broken prop. That's when it's not a good idea to fix it at home. All marina shops that do these repairs have all kinds of dies to press the pitch back into the prop. If they are not re-formed, the balance will be off and you loose some performance. Off balance props will eat up lower bearings and can cause major problems later.