Bigelow has a business plan for LEO profits. The billionaires backing Planetary Resources do as well. SpaceX, offering transportation services, is already making profits from satellites (the magic of accrual accounting) and cargo (so far, from a very successful demo flight. $1.6b in the near future) going to and from LEO even before they offer passenger service. Long term profits remain to be seen but the outlook is good and will get better as more destinations (station and ship transfers) increase the flight rate.