Is selling gelato profitable?

I'm curious to know, is selling gelato truly a profitable venture? With the growing competition in the dessert market and the increasing cost of ingredients, it's hard to gauge whether or not gelato shops can turn a healthy profit. Are there any specific strategies or tactics that gelato shop owners can implement to increase their chances of success and profitability? Additionally, what are some of the common challenges that gelato shop owners face, and how can they overcome them to maintain a successful and thriving business?