But then paying for ships becomes a massive chore due to lack of income, as well as high construction time, because multiple orbital works are going to boost speed, even if you have no forge for them. The colony also wont be able to defend itself, so you'll also need to baby-sit it a lot. Sounds like the worst of all options. Might as well not have any colony than one, because then you can at least do shenanigans to farm market shortages, and then buy whatever ships you like from your commissioned faction's military market.
I have a different experience personally. I have enough income to cover my expenses, so I can float my fleet about for basically free now, construction times can take months but that isn't much of an issue as that's just a back burner going on while I am surveying and hunting bounties, which make a hell of a lot of money to pay for construction. My single colony which only has a orbital works and a HQ never attracts anything it cannot defeat so I rarely have to go back to defend and even when I do, that's fun to do because I like having fleet battles.
I had small amounts of baby-sitting to begin with, but past size 4 it's basically a self sustaining piggy bank of money that even with pirate -50% access harassment still makes me enough money so I don't have to worry about it.
Honestly I am not experiencing the level of issues that some people are, albeit with the caveat that I am deliberately not putting a third industry on it as to attract as little attention as possible. I'am close to the core too so it's really not an issue to return to.
But yeah, that's just me. Not much profit from upkeep costs, but that just makes my bounty money go further.