Having done exactly what you're considering for the past 13 years, I'd like to offer some thoughts based on my own experiences.
1. Get comfortable with bead making in general before you try to make cremain beads. As several people have noted, not all ashes are the same consistency and they can be hard to incorporate correctly, even for an experienced lampworker. You might even consider, as an alternative, learning how to make hollow vessels and put the cremains in after the fact.
2. In my experience, pet owners who order custom cremain beads have a very specific outcome in mind. I found the best way to be realistic is to show samples of a half dozen designs/colors you are comfortable with and that look the best. Cremains get lost in dark colors and really require encasement skills. Encased light colors, like ivory, especially when combined with silver foil and/or metallic reactive glasses, look really beautiful.
3. Be careful about how you promote European charm-style beads, like Trollbeads or Pandora. The companies come down hard on anyone using their names to promote products. Additionally, the mandrels you need to make this size of a bead are much heavier than traditional 3/32 bead mandrels - if it's your plan to use these exclusively, I'd suggest learning on the heavier mandrels from the beginning.
4. As for profitability, I used to earn a substantial income from both lampwork bead making and memorial charms, but I have found that increasing competition of cheaply mass-produced beads has significantly cut into that earing potential. Having some marketing skills and several selling outlets is vital. After you're set up with your basic gear, supplies purchased in bulk are less costly. Also, get to know the prices of glass... you can find lampwork glass ranging from $6-$125 a pound. I personally buy a lot in the $6-$15 range and supplement with small amounts of more expensive glasses/frits/powders/foils/enamels as decoration. Keeping your costs down is essential.
I do wish you good luck... I, too started lampworking as a hobby and turned it into a business to spend more time with my kids, and had many wonderful profitable years. Consider writing an old fashioned business plan to help you determine your startup and operating needs/costs and go from there!
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