My top 3 niches are 

- Logo

- Branding

- Pattern design 

Is there any new software I need to learn? If so which ones? Create your list with the top in the list being first priority.

- Art mediums

- Vector program

- Sketching and drawing apps

I may need to do a few practice projects first before taking on client work, what will be my first practice project in this niche?

- Logo/Brand design

- drawing a pattern

- Practicing my own pattern and design style

Fears? 

Not being able to find clients and or not being picked for a project.

Hopes?

I hope that in a few years this can become my main source of income.