Running a subscription-based company has many benefits. The biggest benefit is the ability to generate a steady regular income (this can be particularly useful for trades that typically receive seasonal highs and lows). Subscriptions also allow you to build better relationships with customers. Below are just a few examples of subscription-based companies.
Gym
Many gyms require users to sign up as members in which they pay a monthly subscription. This allows members to use a gym’s services as frequently as they desire. A subscription-based service is typically more profitable than a per-visit payment system because it encourages clients to keep coming back to make the most of their membership (and even if a client doesn’t use your gym at all in a month, they still have to pay).
Magazine
Magazines are not as popular as they used to be, however there are still many successful examples. Many magazines allow customers to pay subscriptions in return for always getting the latest issue delivered to their door. A subscription model makes it easier to know how many copies to print and also ensures that your true fans are always able to get a copy - even if the local store runs out of stock.
Subscription box
Subscription boxes are boxes that are delivered to a subscriber’s door every month or every quarter. They typically contain specific themed contents. Examples include meal kits, beer, coffee, craft supplies, flowers, books, cheese and bath bombs. Such subscriptions are fun to curate and market because you can appeal to a specific niche interest (which could be of personal interest).
Software
Most software is subscription based - including various forms of business software, music production software, video production software and mobile apps. Subscription fees can prevent the need to charge clients huge amounts upfront, while also helping to pay for software maintenance fees. You don’t have to be a developer to get into the software industry - there are companies that specialise in SaaS development that can build your dream software for you. Just be wary that software is a very competitive market.
Video content
While services like YouTube allow you to build subscribers, these subscribers don’t pay to follow your content. However, there are ways in which you can turn subscribers into paid subscribers if you have an idea for a video channel. Services like Patreon allow you to build paid members who you can give access to exclusive content. And of course there are other services like OnlyFans (which tends to be for more adult material).
Lawn care
Lawn care service can often suffer in the winter because fewer people want to get their lawn cut. A subscription model can be a way to get around this and can help lawn services keep customers through the winter months. General gardening services can also benefit from such a system.
Pet grooming
You can also set up a subscription-based pet grooming service. This could involve quarterly payments that are accompanied by regular pet grooming sessions. Owners of certain dog breeds are likely to benefit from this most.
Private members clubs
Private members clubs encourage members to pay a fee for exclusive use of their club. In essence, it’s the same model as many private gyms, but instead of a gym the club could include other services like a swimming pool, spa facilities, a bar, pool tables, tennis courts, hotel rooms or even a private cinema.
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