Subscription businesses aren’t anything new, but the opportunities for making money from this model in today’s technological and logistically advanced world (both online and offline) are now more accessible than ever.
For freelancers and small business owners, the recurring income that results from a subscription-based business can help combat the dreaded feast or famine cycle and unpredictable income that is a hallmark of freelancing.
And the best thing is that it can supplement your main business income or even become it.
So, if you are thinking about setting up a subscription business, here are 7 subscription business ideas to inspire you.
1. Create a paid newsletter
If you already have an email list with engaged subscribers who can’t wait to hear from you because you are providing a solution to their problems, consider introducing a paid tier so they get even more access to you, exclusive content or the best deals and offers (or all three).
Even if you haven’t got an email newsletter yet, there’s nothing stopping you from setting one up and charging a fee for people to receive the value you provide.
And you don’t need to stop at email newsletters either; how about a paid-for physical copy of your newsletter that is sent via the mail to your subscribers?
Printed newsletters don’t get lost in your subscriber’s inboxes and can be picked up and read at any time. Readers appreciate the time that goes into a printed newsletter and can perceive them as more valuable or potentially even collectable.
2. Set up a retainer
If you are a service provider, having regular retainer clients who pay you a set amount each month for a set amount of deliverables can really help with the otherwise variable income of freelancing.
It’s worth considering if you currently have any suitable clients you can switch to a retainer contract with, i.e., those you already have a good relationship with and need regular ongoing support.
A retainer contract will likely benefit them as they will know their budget each month and will get a set of known deliverables or can rely on a set number of hours of on-call assistance.
Having retainer contracts also means that you don’t have to go through the hard work of forever finding and converting leads to clients and pitching for work that can take up a lot of time and effort.
3. Be inspired by the animal kingdom
Pet lovers love to spend money on their pets, so a subscription box offer to receive healthy treats on, say, a monthly basis, and the option to purchase other items, such as accessories, perhaps at a discount for loyal subscribers is worth considering.
But let’s not stop there; think more broadly about the supplies people need that would suit a subscription model business; for example, anglers who love fishing may need regular supplies. And what about horse riding clothes, accessories and treats, dog grooming supplies, or supplies required for keeping chickens or bees? And that’s before we get to the amount of birdseed and suet balls bird lovers go through!
Also, it’s worth bearing in mind that a subscription doesn’t need to be to a tangible product; if you have expertise in horsemanship, for example, you can set up a paid email newsletter as per point 1 above or a paid membership where people get direct access to your expertise, insights, and training.
4. Cater for foodies
Most of us love certain types of food, and we all need food.
A food subscription box can range from a food specialty (think cakes) to a general food box such as a sustainable farmers market food box. Alternatively, you could offer a range of foods for specific people, i.e. 100% gluten-free for coeliacs, plant-based for vegans, or sugar-free for diabetics. This way, you can offer a range of foodstuffs rather than having to niche down, i.e. cakes for special occasions, which is a great business but might not attract full-time subscribers, or the churn may be too high.
With these food boxes, you can also include meal kits and plans.
And while we are on the subject of food, how about beverages? Coffee, tea or even wine are all things people buy on a regular basis that would make good subscription businesses.
5. Look good, feel good subscriptions
Anything that gets used up on a regular basis is a great idea for a subscription offer, from skincare and beauty products and deodorants to make-up to shaving and grooming products for men.
These can also lend themselves to tutorials, how-to’s, and best practices content you can add as an extra bonus. Likewise, health supplements and health and fitness subscriptions are subject areas that never go out of fashion.
If you are a fitness instructor, sports coach, or yoga teacher, how about a live online class subscription or an online membership with evergreen content in addition to live sessions and special offers?
If you have expertise in any subject matter, it can most likely be productized!
6. Time for a spring clean!
If there’s a product that runs out and needs replacing regularly, then look no further than household cleaning products.
You can niche down here, too, from eco-cleaning products to specific tools and products for different areas of the home.
If you have expertise in a particular cleaning method, e.g., kitchen ovens, again, see if this is something you can do a live class on.
Likewise, if you are a personal organizer or declutter coach, it’s worth considering whether there is a subscription business opportunity here. For people looking to optimize productivity to increase profit – this could be a viable business opportunity.
7. Get creative
Art and craft supply subscription boxes are ideal for both budding art and craft newbies and professionals alike.
And, depending on the medium, they are the sort of thing that gets used up quickly. Subscriptions to artist bundles or memberships can also make nice gifts for aspiring artists.
If you are a professional freelance artist, as well as courses and subscriptions to art classes, you can create subscription boxes using the materials you use, along with guides and how-tos. This will also be an excellent way to get your art seen, promote your brand and build a loyal audience.
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Finally, a great benefit to recurring payments and subscriptions is they are less stressful than having to track down payments, as they happen automatically.
You can set up client subscriptions and recurring or auto-billing invoices with Invoice Ninja. Invoice Ninja is a leading invoicing software for small business invoicing, online payments, tracking expenses and billable tasks.
Find out more about subscriptions here and try Invoice Ninja out for free here.
There are many more subscription business ideas, and this post just scratches the surface, but we hope it’s provided you with some food for thought. Maybe you have a hobby or an interest that you’d love a subscription to – whether for supplies or goodies! It’s worth thinking about.
