I’ve talked a lot about subscription businesses before, and the reason for that is that they are a fantastic way to make money each month.
There are no limits to how many subscribers you can have, and when you hit a specific number of subscribers you can make a decent amount of money each month.
As long as you have good retention (keeping people subscribed each month) you can predict how much money you are going to earn from one month to the next.
Online subscriptions where people pay to access digital content is growing in popularity due to the fact they are easy to manage, they are quick to implement, and the profits can be incredibly high.
But they are not the only subscriptions which are growing in popularity; there are many new physical subscriptions popping up all over the place.
On the Not On The High Street website, there are people offering all kinds of subscriptions from monthly coffee and whisky deliveries to pasta and bread baking courses.
There are people offering book clubs where they send out one new book each month for subscribers to read.
There’s also one called the Vintage Book & Tea subscription. Subscribers get sent a vintage book each month and a range of teas to enjoy while they read.
There is a similar one where they send out coffee with the books instead of tea.
These are all brilliant ideas.
I can’t say how many subscribers they have or had in the past, but there is obviously a call for these kinds of products and combining them with a drink they can enjoy while reading is just genius.
Andi, our techy guy, told me that he pays £9 each month to have coffee delivered to his daughter. It was to go with a coffee machine they bought her for Christmas.
The coffee comes directly from the 200° Coffee Company, a brand his daughter loves. The coffee subscription is another side to their high street coffee shop business.
It’s a great idea as they can sell more coffee to those who love their coffee but don’t live close to one of their coffee shops.
Digressing slightly, Andi himself is paying to have a specific Aldi coffee sent from the UK to Portugal, apparently the Aldi stores there don’t stock the one he really loves.
This shows that people are willing to spend money to receive the things they enjoy.
scroll down to carry on reading
FREE Blueprint & Video Tutorial - Request Your Instant Online Access Now!
Have a look at the subscription products on offer on the Not On The High Street website HERE.
There are so many different subscription ideas (750 listed in the search results on Not On the High Street website), I am sure that you could come up with a few of your own.
Going with the idea of books combined with drinks, you could offer a different science fiction book with a different beer each month, or perhaps a different romance book with a different cocktail.
Maybe romance books would go better with a box of chocolates.
Children’s books could be combined with sweets, toys, comics, or postcards with cartoons.
The number of subscription businesses is growing and I personally believe that 2024 is going to be the year of personal subscriptions.
By that, I meant that more and more individuals will have their own subscription business.
There are multiple platforms online which will allow people to take payment in exchange for the digital content they produce.
A lot of that content can be created using nothing more than a smartphone.
The reason why I believe that subscription business are going to be the future is that people today are becoming so used to paying a monthly fee for products or services.
It is becoming the norm.
People pay each month for:
- Broandband/internet connection.
- Television channels/streaming platforms.
- Music streaming platforms.
- News papers and magazine (both offline and online).
- Gas and electricity as direct debit.
- Mobile phone contracts.
- Memberships to gyms and fitness classes.
- Food delivery companies such as Gusto.
A recent study revealed that 63% of the British population subscribe to some form of monthly product or service. That’s around 41.3m people!
The average person has 2.4 active subscriptions and are paying around £39 per month, that’s a total monthly subscription spend of £1.6bn across Britain.
Monthly subscriptions are now part of everyday life.
The fact that people are paying monthly fees to access so many different products and services means that they are being ‘trained’ to do it. It is such a regular occurrence, people expect it.
I’ve said it before; one of the easiest subscription business models is to publish a digital newsletter.
If you would like to discover how, click the link below:
The EASIEST Way To Start A PROFITABLE Newsletter!
Kind regards
John Harrison
PS… The great thing about a subscription newsletter is that you don’t need to create a lot of content for it to be successful.
It is a game of numbers… the more subscribers you have, the more money you will make… but you still only create the same amount of content.
Let’s say that it took a couple of hours to create each newsletter and that you published 1 a week (4 newsletters per month = 8 hours of work), and let’s imagine that you had 200 people paying you just £10 per month to access your newsletters… you would earn £2,000 for just 8 hours of work.
That’s not bad, is it?
Here’s that link again: