So what do you think? Is it possible? And if so, what would it require to actually work and attain a degree of popularity that would allow it to exist indefinitely without going out of print and going through similar "edition-expansion-new edition-expansion" cycles as D&D?
Number one is business planning and market research. Figure out how much money you can expect to make off this game
without the cycles. That’s going to mean a moderate amount early (the first month or three) that quickly slows to a trickle. Size your business around that trickle.
Even building the leanest business you can, that trickle may not be enough to keep printing the books and keep a light on.
Number two is marketing. You’re going to have to have a really creative and frugal marketing guy/team. They’re going to have to figure out how to get the word out about this game. Then, they’re going to have to figure out how to keep growing the player-base enough to boost that trickle enough.
This sounds like a Fantasy Heartbreaker
Fantasy Heartbreaker is exactly what you want. The bulk of innovation in this hobby happened long ago. You
might chance upon an innovation, but you mainly want to leverage the experience of the past.
Heck, that’s the whole idea here, right?
Well,
Steve Jackson mentions 2007 gross sales "close to $2.88 million" -- of which
Munchkin represented more than 70 percent. The bulk of the rest went to GURPS, but that's still well under $1 million for their entire RPG line.
Number three: Find a cash-cow side-business that can fund your RPG habit. (^_^)
Alternative number three: If you want to avoid the cycles of expansions and new editions, you can still produce
other products that
aren’t expansions and new editions of this RPG.
Think of it like this: When a board game company needs a new product, they don’t typically produce an expansion or a new edition of an existing board game. (Sometimes they do, but that’s the exception rather than the rule.) Instead, they produce a
new board game to sell alongside the ones they already have.
The big problem with business is that success so often ends up being just doing the boring businessy things right rather than just having passion for your products. (Not to discount the need for passion for your products, of course.)