I don't think Nintendo could produce annual franchises if they wanted to. They don't seem to have the manpower because if they did we would see a lot more games coming out. At this point in the Wii U life cycle, it should be in full swing with tons of games releasing and being announced and the developers becoming more familiar and comfortable with the hardware, instead Nintendo seems to be so passive when it comes to supporting their consoles. It seems like there will only be a few more big titles left for the Wii U before they move on and that's sad for only 2 and a quarter years. If you can't wrangle the 3rd party support like they used to, than they should be cashing in all their old franchises and creating a few more each generation to build up rosters.
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