Here's an interesting thought, instead of employing one full timer, consider part time workers, more benefits in your favour. It's a business, you're not searching for a buddy who can help you out because you have too much work, the two are totally separate.
Two choices: keep picking up and selecting the most profitable work and losing the remainder or slowly build up more work and employ providing it's cost effective. Why jump from being a busy fool to picking up any old work for the sake of trying to help an employee out with full time employment, so you concentrate too much on him and not the main reason for employing which is to make a profit. Go slow in building up and start off with a part timer then you can increase their hours or take on more part timers.