I think on some level you've already made up your mind, but like many of us out there, have a level of fear about making the wrong decision.
Here's the real question: Which would you regret more, trying it, making a bit of money and finding out it's not for you or not trying it and always wondering about the opportunity?
I say go for it. Give it a try. If you find it's not for you, that's not flaking out, that's just learning it's not for you and there's absolutely nothing wrong with politely telling the owner, if that turns out to be the case, "thank you so much for the opportunity, but this just isn't for me."
On the other hand, you may love it!