Yeah, there is still room for improvement! And, I've always opposed the term "owner". But, because I haven't ever thought of it as "ownership", I've never thought of selling it, or passing it on to my kids. Which I do have... (ungrateful little— )
Where was I? Oh yes, clams. No, Niches! So, the only thing that troubles me (if I think about it a certain way) is this:
If I cultivate/manage a Niche into prosperity, I can acclimatize to the Niche fee that I'll have to pay every year. As the Niche grows, so does the fee, so do my earnings, so does my ability to pay the fee. However, when I'm done with it, I elect NOT to renew my fee (thus improving my final year of earnings by 20%) and let it diminish and sail off to the West*.
But now what? A new person, probably/hopefully from within that Niche community, steps up to manage the plate. He/she is starting from zero revenue momentum and has to pay a 20% fee on a Niche that has matured. (Here's where I think my hot dog cart analogy becomes more relevant.) They will have to pony up the NRVE to become the new Niche manager. That's a steep price to pay, which may exclude the minnows. But, with the potential of a 5x return the following year... it might just be worth the investment. It's no longer a muddy river bank. It has streets and foot traffic. It becomes an annual investment.
Or, before I go, I want to pass it on to one of my kids... there's no reason I couldn't "gift" them the NRVE required to meet the Niche fee... that would put them in a better position to bid on it... maybe the Niche owner gets to assign the right-of-first-refusal to the next in line. The king is dead, long live the king. There are kinks, but they aren't insurmountable.
*depressing Tolkien elf reference