5 Ways Starting a Box Subscription Will Grow Your Business

The idea of ​​starting a subscription box business got here from a desire to treat my loyal customers like the VIPs they were. I had already taken the huge step of leaving my job at a Fortune 500 company to open my very own store and live a more fulfilling life with freedom, space to be creative, and more time for my family. It was the idea of ​​a subscription box that kept me up at night, imagining what I’d add to my boxes, what packaging and special touches would make them special, and how much my customers would love them.

My subscription box journey began in 2017. At the time, subscription boxes were just beginning to hit the mainstream market and only the big brands were doing it. I spent months researching, researching products, ordering boxes, creating logos, and determining all the technology and logistics needed to make a subscription box work for my business. Once I had the groundwork down, it was time to set a goal and plan for the launch. I did the math and knew that if I could get to 100 subscribers, that revenue would pay the bills at my retail location and pay myself. I hit my goal in just three months.

Starting to sell subscription boxes secured my business

In 2017, no one knew a pandemic was just around the corner. I spent the first three years learning every thing I could about tips on how to run my business. I invested in training and learned tips on how to get on camera for my clients. When I used to be forced to shut my brick-and-mortar store for 45 days at the starting of the pandemic, my subscription box business was still going strong. Like many online businesses, I experienced a lot of growth in 2020, ending the 12 months with record sales and almost 3,000 subscribers. We’ve maintained our growth and proceed to organize boxes for our subscribers every month.

According to UBSThe subscription box industry is now estimated to be price $650 billion and is expected to grow to $1.5 trillion by 2025. If subscription boxes make sense for your corporation, what are you waiting for?

5 Ways a Subscription Box Will Grow Your Business

Subscription box builds stability

The great thing about a subscription box is that the subscription is sold once and the revenue recurs each month so long as the subscriber is retained. Having a subscription box builds stability in your corporation by providing revenue you’ll be able to count on each month. This revenue won’t only protect your corporation during periods of low volume, but it’ll also provide you with a lot more freedom as a business owner.

If you knew a certain quantity of cash can be deposited into your checking account on the 1st of every month, what could you do? Could you invest in more equipment? Hire more help? Expand your corporation? Think about what having a regular stream of income could mean for your corporation.

The goods you ordered have already been sold

One of the biggest stressors for product-based businesses is the investment you have in your products. It’s a constant balancing act to make sure you have enough inventory to fulfill customer demand, but not so much that you just find yourself with unsold items. Unsold items not only take up priceless space in your warehouse or backroom, in addition they eat into your bottom line.

When you order supplies for your subscription boxes, the product is already sold. It goes into boxes you already have subscribers for. You don’t have to guess how many items you’ll have. You already know.

You can hire without worries

Having a regular, recurring income you’ll be able to count on means you’ll be able to hire employees without worrying about whether you’ll have the money to pay them. This was a game changer for me. In a few short years, I went from being a solopreneur doing every thing to having seven employees in the store and almost as many distant team members.

You won’t give you the chance to grow and scale your corporation without help. For many entrepreneurs, which means hiring before they’re ready. A subscription box business helps eliminate the anxiety of hiring.

You don’t have to maintain selling

When I used to be just running my retail store, I felt the pressure to sell every day. If I wasn’t selling product, I used to be anxious about paying the rent on the store, paying my employees, and having enough money flow to order more product. I used to be stressed about having to make enough sales every day. On the other hand, when I added a subscription box, I used to be in a position to calm down. My subscriber count quickly grew to the point where I knew the revenue from those boxes would cover the bills in my business.

I still showed up at my store and happily served customers, but the stress of worrying about making enough sales each day was gone. What would it not mean for you and your corporation to say goodbye to that day by day anxiety?

Hard work done

Building an audience is the hardest a part of starting a subscription box business. The excellent news is that if you already have a business, the exertions is already done. Take advantage of the indisputable fact that you already have an established area of interest and area of ​​expertise and consider offering your customers something recent.

Adding a subscription box business modified my business and my life. I used to be in a position to grow my business, provide for my city, and provide for my family in ways I never could by simply focusing on my customers and giving them what they wanted. More than five years after I launched, I still curate amazing boxes every month and proceed to seek out recent ways to surprise and delight my 1000’s of subscribers.