Since framing covers a broad spectrum, from mass-production of framed art to hand-carved and gilded frames, it would seem there are possiblities. As with many fields, your direction should be in tune with your strengths and what you find satisfying.
I have the same basic question as you, and have found the information on the Grumble very helpful for seeing where the business is headed and making me think about what niche I want to be in.
As for the second part, if that is your direction, there are standards, resources and training available, and if you frame everything to these standards, it will just be second nature to you.
Joseph