Is hiring employees worth it for a small home service business?

I don't see it as a question of being worth it... HugeHomePros touched on this, but it's really a question of whether you want to just make a job for yourself? Or whether you actually want to build a business that generates income without you? These are two completely different things and the approach to each is totally different. And there's ranges in between - sometimes people hire others to help them with their job. 

If you want a business that works without you - yeah there's no other way, you need employees. They are your "factory". The bigger your factory, the greater revenue and profit potential, but also the more things that can go wrong. "Where there's people, there's problems." So if you're not ready to deal with problems, you're probably not ready to have employees. It's not easy, but it does unlock huge opportunities and lifestyle advantages etc. that simply aren't possible if you stay on the tools doing the job yourself.

There's also a lot to consider as far as key person risk. If you're the main income producing person - the risk is YOU. What happens if you can't work for any reason (sickness, injury etc.)? What happens when you get older (no one is young forever, and if you're doing physical work it puts a real toll on your body)? Will you be able to make enough money to achieve the lifestyle you want and retire in the way you want? 

Start thinking about what you want life to look like in 10, 20 years. Then work backwards to see what you need to do to get there. When you're clear on that, most other decisions become easy.