Why a Subscription Box is a No-Brainer for Your Product-Based Business | EP 163

podcast Jun 12, 2024

Subscribe:  SarahsPodcast.com Apple Podcast Spotify | IHeartRadio | Stitcher

 

What if you could level out your revenue, create consistency, and put an end to the feast-and-famine cycle of one-time product sales? What if you could add stability to your business that allowed you to cover payroll and overhead expenses? What if you knew the inventory you were buying was already sold? 

Let’s talk about the life of a product-based business owner. Before I started my subscription box, this was my life, too. 

  • Spending a LOT of money ordering and manufacturing products. 
  • Waiting for products to come in. 
  • Creating content, going LIVE, sending emails. 
  • Hoping the products sell… 

Every day. One day you might make 20 sales. Another day, crickets. The uncertainty affects everything… your mood, energy, finances, and stress levels. 

But what if things could be different? Picture this… 

  • Spending a lot of money ordering or manufacturing product for your subscription box. 
  • Waiting for the product to come in. 
  • Payments hitting your back account automatically. 
  • Packing and shipping your subscription boxes. 
  • Creating content, going LIVE, sending emails. 
  • Gaining new subscribers each month. 
  • Rinsing and repeating. 

What’s missing? Uncertainty and stress! 

Adding a subscription box to your product-based business can reduce the stress of your business. 

Stress #1 - Sales/Revenue

Most product-based businesses experience feast or famine cycles. When you show up and sell, sell, sell, you have a good day or week. But what happens if you want to take a vacation or get sick or simply need time off? Sales drop. 

With a subscription box, you show up and sell it ONE time. Those recurring payments then hit your bank account every month. 

Stress #2 - Managing Product Costs & Inventory

With a subscription box, you still spend money on products you love. But, you don’t have to guess how much to buy, when to have it shipped, or wonder if it will sell. It’s already sold inside your subscription box! 

Stress #3 - Planning/Budgeting for Growth

Your goal as a business owner is to grow. Planning advertising budgets, staffing appropriately, and planning that growth is difficult when you don’t know what will happen from month to month. 

The recurring revenue of a subscription box can stabilize your business. 

  • You can manage staffing and payroll because you have consistent work for your staff. 
  • You can advertise more because your acquisition cost is getting a recurring customer, not a one-time customer. 
  • You can plan for growth by increasing your numbers periodically throughout the year rather than guessing what you’ll sell. 

Now that you see the benefits of adding a subscription box to your product-based business, let’s answer your next question - “What should I put in the box?”

Let’s start with what you already know. 

  • You already know your ideal customer - they buy from you every day. 
  • You already know their pain points and how your products solve their problems. 

Decide what types of products your customers would want to see in a subscription box. Start by asking yourself: 

  • What are my best-selling products? 
  • What do my customers buy repeatedly? 
  • What do my customers consume and want more of? 

A great way to go deeper with this and flesh out your ideas is to take my FREE 6 in 60 workshop. In it, I guide you through planning 6 months of boxes based on your ideal customer. Once you can visualize this for yourself, you’ll be ready to start taking action.

What would your business look like a year from now if you had 100 subscribers, 500 subscribers, or even 1000 subscribers?  Join me for this episode and learn why adding a subscription box to your product-based business could change everything!

Learn from me:

  • Subscription Box Blueprint eBook: This $10 ebook covers logistics from product selection to packaging to shipping. Plus a 90-day launch plan and bonus ‘Instant Scripts’ for your social media.
  • Launch Your Box: My complete training program that walks you step by step through how to start, launch, and grow your subscription box business.
  • Launch Your Box Podcast: I share tons of practical tips and strategies to help you start, launch, and grow your subscription box business. You’ll also hear from industry experts and current Launch Your Box members who are crushing it - get ready to get inspired!
  • One Box at a Time: Inside my book One Box at a Time, I show you the steps you need to follow to start and launch your subscription box. To turn your dream into reality. This book is filled with proven teachings, valuable resources, best practices, and action steps for you to take.

 

Find me on social:

 

Are you ready for Launch Your Box? Our complete training program walks you step by step through how to start, launch, and grow your subscription box business. Join our waitlist and we will notify you when the group reopens.

Join the waitlist

Hear from Sarah each week!

Do you want weekly tips for starting, launching, and growing a subscription box? Subscribe to get our latest content by email.

Subscription Box Business Amazon Must Haves

Jul 05, 2024

Baking Their Way to a Subscription Box Business | EP 164

Jul 03, 2024