First....Let me digress a bit. A couple more suggestions to bandy about: Philatelists {there are over 3,000,000 of them} & coin-collectors.
Collector's coins & commemorative stamp-issues pull in MILLIONS in revenue for single popular-event issues.

For a private space-program to achieve success in putting a few
"space tourists" aboard a spaceship on a suborbital flight to 62-63 miles up will be a HISTORIC FIRST; worthy of a commemorative
stamp-issue and minted collector's coins put on sale.
Shouldn't that private space-group involved receive it's portion of that revenue?
They are morally, if not legally entitled to it. Even a few hundred thousand-dollars milked from that source of revenue will help pay a lot of bills outstanding. Private space-groups/enterprises do have to pay their debts, especially if they achieve success

Now to finish this topic: Larry brought up some important points.
The gist being, if you're an American private space-project, you'll
have a mountain of bureaucratic paperwork to deal with [BATF, NORAD,
FAA, NTSB, US Coast Guard, maybe even the EPA and Homeland Security], and then their's the need for for infrastructure [launch facilities, recovery helicopters and seacraft, tracking systems, etc]
and the really big one: The need for lots of M - O - N - E - Y.

I have a suggestion, hinted at in Part-One, where you can get
a sponser/underwriter, who won't tie you to NASA'S apron-strings,
is interested in space and long-range rockets, and has "deep-pockets".
Of course I'm referring to the US Defense Dept.
Here's what I know:
The US Defence Dept. is working on a long-term "MISSILE DEFENCE
SYSTEM". That Missile-Shield/Missile-Defence project will require
and is using drones and....ballistic missiles....for practice-TARGETS".
Here's what I do NOT know:
Could a private space-project group obtain a CONTRACT with
(say) the USAF to build & launch a number of ballistic-missiles
that can serve as either Missile-Defence practice-TARGETS or civilian
suborbital rocket-booster [for space-tourism; paying-astronauts]?
How may this set-up work?
I'm not sure...
I could only express a hypothetical [hopeful] suggestion:
(EXAMPLE:) Suppose such a private space-project group were
able to design & build maybe ten suborbital rocket-boosters
of a simple, reliable, economical design. The USAF would pay for the
manufacture & launch of all those rockets....The private space-project group would perhaps have signed a contract with the USAF that would
see the USAF have "exclusive" use of seven of those ten boosters for TARGET-PRACTICE for the Missile-Shield project...The three remaining
rocket-boosters can be used by that private space-group to launch
suborbital flights for "paying-astronauts/space-tourists" [one launch
set aside for an unmanned test-flight].
There maybe other perks and benefits with the USAF underwriting
such a private space-project for [say] ten rocket-boosters...
[forgive me, Larry, if I'm erring in my assumptions].
Those "assumed" additional benefits being?...The private space-group
will have its mountain of bureaucratic paperwork reduced dramatically:
the USAF has its own clerks, JAG lawyers, paper-pushers who can do it
for you/them.
As for infrastructure? Think VAFB for starters.

That leaves the question as to, "what happens after the last of the
(say)ten rocket-boosters is launched on whatever mission, what then?"

Then that private space-group could go back to a totally civilian agenda, dealing with the FAA, BATF, etc. on its own. and "sink or swim"
in the free-enterprise system out in the civvie world....
If successful with its USAF endeavor and support, it'll at least have
a reputation that would interest wealthy civilian sponsors.

Jacob