Have you heard of the profitability of the subscription-based business model, and now you’re searching for the best monthly subscription business ideas you can venture into. Lucky for you, we’ve selected the most profitable monthly subscription business ideas.
Read on to find out what these business ideas are.
Introduction To Monthly Subscription Business Ideas
A monthly subscription business deals with selling products to receive monthly revenue.
In this type of business, a customer agrees with the business owner where they pay monthly in exchange for products or services.
The opportunities in the subscription business are endless.
Furthermore, it is one of the most profitable businesses.
If you have an entrepreneurial mindset, this is an opportunity to profit in this business industry.
Also, if you have a business already, you can adopt the subscription business model to your business.
You can create a subscription business from any business.
In addition, different companies have adopted the monthly subscription business, such as; Amazon, Target, HP, Apple, etc.
Benefits Of Monthly Subscription Business
Here are the benefits you, your customer, and the economy can derive from the subscription business.
The Business Comes With Simplicity
One of the key benefits of the subscription business is its simplicity.
The subscription model helps simplify the process of a business, making it easy for customers and businesses to operate.
This means a customer does not need to keep purchasing a product every month after subscribing to it.
Also, the business owner won’t need to solicit existing customers to order products or services.
Therefore, goods will be delivered to customers when they are required.
It also helps the customers plan to pay for the business products.
The business model makes it easy to reach out to clients daily, especially through E-mail campaigns.
Thereby helping you build a solid customer relationship.
Future Relevance Of Monthly Subscription Business
As discussed above, many companies have started adopting the subscription model.
In the US, the revenue from subscription businesses is five times higher than from selling in person.
Furthermore, Microsoft and Amazon have adopted the subscription business idea.
Amazon has more than 40 million subscribers in every part of the world.
According to Consumer Intelligence Research Partners, $99 is the average cost of a subscription on Amazon.
Also, Charles River Ventures invested $4 million into a subscription company called Cratejoy.
Industries and businesses are adopting this subscription business idea.
Therefore, this is the right platform for you to grow your business.
The best part is that all industries fit into the subscription business.
14 Monthly Subscription Business Ideas
1. Art Supplies Store
Art supplies store is one of the profitable monthly subscription business ideas.
It involves crafting and creativity.
If you enjoy creating artworks for a business, you can adopt the monthly subscription business.
People enjoy having artworks in their homes and business places.
Especially, hotels exhibit more artworks in their buildings.
So, they will be ready to have you supply them artworks monthly if you are good.
Starting an art supplies store might cost you between $10,000 to $50,000.
However, if you are adopting the monthly subscription business, you will need to hire more hands.
You might need between 15 to 20 artists for your business, so you can meet your subscribers’ demands (clients).
2. Beauty and Skincare Business
The beauty and skincare business is another profitable business in the monthly subscription business ideas.
This is one of the businesses with a promising future in the monthly subscription business because beauty and skincare products are in high demand in almost every part of the world.
Some people even go as far as purchasing the products from other countries.
This is a product that is more popular among females.
This is because they are ready to do anything to take care of their skins.
However, this business idea has lots of competition.
Therefore, if you want to start a monthly subscription on it, it has to be unique.
You should be able to differentiate your subscription business from your competitors.
3. Baby Products
Starting a monthly subscription business on baby products is another profitable business idea.
This type of business has specifically targeted customers.
Your target customers are expecting mothers and young parents.
Expecting mothers and young parents find it challenging to go to supermarkets or baby stores.
Instead, they opt-in for a subscription box of baby products.
So, you should be able to deliver the right size of baby products.
This is because a few days’ old sizes differ from a months-old baby.
You can deliver clothes, diapers, and toys for expecting mothers.
Also, you should offer body care products for babies.
4. Cleaning Supplies and Service – Monthly Subscription Business Ideas
Starting a cleaning supply and services are also suitable for a monthly subscription business.
This is also one of the promising monthly subscription business ideas.
However, it’s a competitive industry because many cleaning supplies brands exist.
Therefore, you should be able to create unique cleaning supplies.
You should be able to provide cleaning products that people will be willing to buy.
You can supply natural soaps, sustainably-sourced ingredients, baby-safe soaps, and so on.
Furthermore, you can offer your cleaning services to homes and commercial organizations based on weekly or monthly subscriptions.
In addition, this monthly subscription business idea is affordable to many customers because of the monthly payment plan.
5. Courier Service – Monthly Subscription Business Ideas
Courier service is another business suitable for monthly business ideas.
This is also a profitable business in the courier service industry.
Starting a courier service requires proper market analysis.
Also, it requires proper planning and startup investment.
Courier service means delivery of packages.
You can pick the package from the sender’s point to deliver to the receiver.
Great customer service will determine the business’s long-term success in this business.
In addition, the estimated startup cost ranges from $10,000 to $50,000.
Fortunately, you can start this business from the comfort of your home to save on startup costs.
6. Deodorant and Perfume Subscription-Based Business Ideas
Starting a deodorant and perfume subscription is another monthly subscription business idea.
The fashion industry is very profitable.
However, it is quite competitive.
This is not to discourage you.
It only means you need to put some extra effort into ensuring your products are unique from your competitors.
For instance, you can offer natural deodorant and perfume.
7. Digital Products
Another monthly subscription business idea is selling digital products.
This might be the right business for you if you are a content creator.
Digital products are softcopy products or services.
Furthermore, there are different digital products that you can sell.
- Kindle books
- Online courses and webinars
- Software programs
- Web elements like Shopify, WordPress Themes
- Membership sites, and so on.
Overall, selling digital products are the popular and most profitable monthly subscription business ideas.
Do you know that a girl’s best friend is flowers?.
If you want a profitable monthly subscription business idea, you should consider being a florist.
It is one of the lucrative and thriving business ideas.
To succeed in this business, there are three things you should consider.
- Your business location.
- Means of delivery.
- The popularity of the business.
As a florist, you can take orders on both regular and occasional services.
You can offer different subscription plans to your customers.
This is because some of your customers might want a subscription that delivers flowers weekly, monthly, or seasonally.
Overall, you’ll need creative skills to arrange the flowers in an attractive and appealing way.
9. Gift Basket
If you want to start a monthly subscription business that deals with craft, you should consider this business, especially if you have crafting and creative skills.
Factually, a gift basket business is a lucrative business opportunity that will be more profitable with the monthly subscription business model.
Also, it is easy to start a gift basket business.
You can even start the business from home.
You can start the business with an estimated $300 to $ 1000.
Hence, you should note that a ceremony determines the type of gift basket you’ll deliver.
Furthermore, a subscription gift basket is trendy in some countries, such as Canada, Australia, and the USA.
So, decide on what type of gift baskets you’ll deliver and for what occasions.
Gaining clarity on this is important to help you promote your services to your potential customers efficiently.
10. Grocery Store
A monthly subscription for faithful patronage of your grocery store is an ideal means to maximize your profit.
To start this business, your location is essential.
You should be in a location where you will get enough subscribers for your business.
Also, your product range and choice of demographic are essential.
Your startup cost depends on the number of products you want to start with.
However, it’s best to focus on delivering the everyday essentials.
This way, you’ll stand a better chance of getting more orders and making profits.
11. Kids Store – Monthly Subscription Business Ideas
Another product-based monthly subscription business idea is a kid’s store.
This is another profitable and lucrative business idea.
Generally, a kid’s store covers a wide range of items.
These items include clothing, toys, games, books, body care products, food items, etc.
A kid’s store is full of kid’s age range items.
Your targeted customers are the parents.
So decide on what areas you’ll focus on and reach out to your potential clients (parents) so you can supply them with their kids’ essentials.
12. Laundry and Dry Cleaning
Another profitable monthly subscription business idea is a laundry and dry cleaning service.
This is one business where the service is needed regularly, making it a promising monthly subscription business idea.
With the growing cleaning industry, you can immediately start making your profit.
Also, you can get a significant number of subscribers for your cleaning service.
Your ideal clients could be busy business owners, office workers, hotels, schools, and other corporate institutions.
The estimated startup cost is around $50,000.
13. Organic Food Store
The awareness of harmful chemical consumption has made people go for organic food.
People are now aware of the benefits of organic food items.
Hence, starting this business will help you tap into this emerging industry early.
First, you’ll need to find organic food suppliers.
Expectedly, these would be farmers.
Alternatively, you could farm, process, package, and deliver your organic foods to your clients.
14. Pet Supplies – Monthly Subscription Business Ideas
The last on the list is starting a pet supplies monthly subscription business.
This is also another profitable and thriving business idea.
People are ready to spoil their pets because of their love for them.
However, getting different types of pet foods and treat is a concern for pet owners, creating a market for this business.
In this business, you can open both online and physical stores.
Also, tap into the subscription business and starts receiving payment.
You can allow pet owners to select the items they want for their pets.
How To Start A Monthly Subscription Business
Having read through the monthly subscription business ideas, you should follow these steps in starting the subscription business.
Choose and Develop Your Business Idea
The first step to follow is to choose a business idea.
You should choose a business idea that you will enjoy doing.
However, while choosing your business idea, you should consider your customers.
That is why market research is necessary to know your customers.
Also, the research will help you identify your competitors.
Finally, select the type of subscription you want.
Price Your Subscription Business
The next step is determining the price that will make your subscription business profitable and scalable.
You should avoid mispricing so you won’t ruin your business.
While you want to price your subscription box, you should consider the following;
- Cost of the product
- Cost of the box
- Transaction and platform fees
- Cost of packing materials
- Fulfillment cost
- Acquisition cost
- Fixed monthly cost
- Shipping cost.
Create and Build Your Website
Another essential step you should follow is creating a website.
Your website should showcase your offers.
There are tons of eCommerce sites you can open to start your business.
Plan out Your Inventory and Logistics
If you are sending out physical products;
- You should source high-quality products from reliable suppliers.
- Your boxes should be customized with branded labels.
- Also, you should add shipping costs that customers are willing to pay.
- In addition, you should deliver the products on time without damage.
Market Your Subscription
Marketing is a means to get people to patronize your business.
You also need to market your subscription business.
An effective marketing strategy will help you promote your business.
Also, it will help reach potential customers.
Analyze The Success Of Your Business
The final step is to measure the success of your business.
You can do this regularly or occasionally to track the progress of your business.
See if there are things you need to do to improve your business.
Get to know what your customers feel about the service of your business.
Your customers’ feedback is important for the success of your business.
Conclusion On Monthly Subscription Business Ideas
There you have it.
We’ve listed 14 profitable monthly subscription business ideas you can explore.
We’ve also given you a headstart with tips on getting started.
Sincerely, we hope the above list will help you build a profitable subscription business.
Remember, there is no shortcut to success.
The keys to a successful business are commitment, consistency, persistence, and patience.
We are rooting for you!