I have sold a few baits. Mainly to friends, word of mouth type thing. I'm considering getting my feet wet just to see if it would be worth while. I'm not really wanting to cut into my fishing time too much though.
As far as making a bait I've never really timed it because it's just a stress reliever so to speak I usually waste several hours in the garage and I'm usually making them for myself so I will pour quite a few, then clean up and cut the excess lead off the bait then powder coat/air brush. Once it's painted I will add the eyes to the spinnerbait/buzzbaits, swim jigs, after that I put on a clear coat epoxy then let it dry over night. I then tie on the skirt material strips and add the blades.
I have a few colors I use on a regular basis and some that I come up with by looking up the species like the different stages of a crawfish, things like that I just enjoying making different color combinations etc. It's just a hobby I enjoy when I'm not on the water.