Sure thing that subscription business rings a bell, doesn’t it? This is commonly known as subscription boxes too. And is one of the coolest way to buy in this generation.
Majority of these businesses give us awesome customer services and promises. Of course, they make it a point that they full it and we experience the commitment. With the different products and services introduced from varied brands. Dropping your items at your doorsteps or mailboxes is such delightful.
We are not done yet.
As an entrepreneur, we always seek new and better ways to please our customers. And starting a subscription service is definitely not excluded. So, in this article, you will learn how to start a subscription business in 8 easy and fun steps.
What do we need to do?
8 Steps to your Subscription Service Business
Step#1: Think of the best subscription service idea.
Do you know that the grounds of successful businesses is a good idea? Make it stand out. And this is coupled with details of your market (your niche) and competition. Identify your customers. And fulfill the business opportunity that you can create to them.
Step#2: Select the source of your products, boxes and shipping materials.
Sourcing out the products and other materials that are relevant is crucial. And the bottom line here is to make sure that have a product supplier that is cost effective. As well as consider that all will fit in the box that will be sent out monthly. Another thing to examine is the actual box, supplies or labels. Need to be sure that all are available for each order monthly.
Step#3: Create a design of your box.
Like a trademark, your box must have a design. Giving a unique look can be a great way to stand out and be known as a brand. This may include the subscriber’s unboxing experience. Yet, with this in mind, do not forget that it won’t outweigh the shipment safety and that everything must fit in that box.
Step#4: Place a price tag to your business service or product.
Important as it is, never forgets to price your service right. As early as possible the pricing must be established. That should cover the cost of the product and the shipping materials. Giving a fair price is the best way to connect to your customer. Yet, make sure that all are embraced including the operating expenses and margin.
Step#5: Look for the shipping company with the best rate and service.
This is one of the things that we have to consider in this kind of business. So, it would be best to do your assignment. And shop around to pick which shipping company you can partner on. Remember, you need the box to be delivered safely and on time.
Step#6: Consider a Fulfillment Process, if needed.
Consider looking into this option once it is needed. Like if you got a lot of subscribers, it makes sense if you will plan a fulfillment process that will help you. This is another way to benefit your subscribers. A smooth experience that will result in customer satisfaction.
Step#7: Go to the marketplace and be listed.
Cratejoy is subscription platform that can provide all you need in this business. While on the other hand, set up your website. Design it as easy sign-up and customer-friendly site.
Step#8: Let everyone know that you are on business.
Let people know that you are up for business. Shout out your offers that will make them super excited to sign-up for a subscription. There are many ways to do that, social media is just one.
Entrepreneurs are unstoppable. The creativity that lives inside us will naturally find its way out. Subscription business is just one of the evidence of what we are talking about. This is a totally new way to explore more on what we can offer to our customers. So think of a product that you can start with subscription services. Or might be as an expansion of your existing business.
What products that you have in mind that might fit to start a subscription service with? Let us know, just comment it below.