So what? You can still make some nice gold at lower levels, even as early as level 10! Those of you who'd looked at my auction house alt experiment posts will know that I've also started levelling a hunter on the same server. I picked up skinning & leatherworking and so far have made a few pieces for myself but she's only level 10 so I haven't really got into my stride yet.
However, my main is level 85 and also has leatherworking (at 485 so far). I remember when I was first levelling her & her leatherworking, I carried on making the lvl 5-15 stuff long after she had passed them for skill points as the light leather was so cheap & the really low level stuff was selling well. With the redesign of the whole questing process & rewards, I don't know if this still holds true but it's worth looking at for yourself if you are new to the game or starting on a new server.
The earliest good pattern is Toughened Leather Armor available at skill level 120 - it takes 10 medium leather, 6 cured light hides & 2 fine threads but it currently sells for anywhere between 30-50g. As it is for level 19's, it's a perfect twink piece so although you probably won't sell lots every day, it will sell.
Next up is the Toughened Leather Gloves available at skill level 135. This one only takes 4 medium leather, 2 cured medium hides, 2 spider's silk, 2 elixir of defense & 2 fine threads but I usually post these at 95g each & more often than not, they sell within 24hrs. I have Spider's Silk on my snatch list & rarely pay more than 1-2g each for them.
At skill 155, you pop over to Darnassus (if you haven't already!) and find the leatherworking supplies vendor Saenorion to buy Pattern: Barbaric Bracers. This is a limited spawn recipe but I've never had any problems getting it. If he doesn't have it when you get there, give it 10 mins - wander round and enjoy this beautiful city, maybe do some fishing to get your skill up then pop back.
There are a few more mats for this one, 8 heavy leather, 4 large fangs, 1 raptor hide, 4 small lustrous pearls & 2 cured heavy hides but none of them are particularly expensive. If you're skinning as you level, many of the mats will be dropping for you anyway.
If you're making this on a high level toon, just put the large fangs & raptor hide on your snatch list or if you're levelling alts, bear this recipe in mind and send across any fangs or raptor hide they pick up. These bracers regularly sell for 125g, again within 24hrs usually.
This next recipe took some getting! I parked an alt in Booty Bay & logged her several times for 2 days before Rikqiz deigned to sell me the Pattern: Gem Studded Leather Belt. I don't think it's that rare, just my timing being bad! This one requires skill level 185, has really simple mats & sells for 120g every time I list it. Having a lowbie jewelcrafter, I always send all gems I loot to her which means I usually only need to buy the heavy hides. It requires 4 cured heavy hides, 1 iridescent pearl, 1 jade, 1 citrine & 1 fine thread.
None of these cost much more than 10g in mats even if you buy everything from the AH. Many of the mats you will pick up as you level anyway or can go farm some for yourself. If you're running a rogue, feral druid or hunter, you could also be one of the best dressed around!