Planning the Business (Part 2)
Instead of just having one option that customers have to pick, offer
several so they feel like they have more of a choice. You might create
different subscriptions that range in price or offer different things so
the customer can choose the one that is right for them.
- For example, you might have a mini subscription box for $25 that has 6 things in it and a regular subscription box for $50 that has 14 things in it.
- You might give an option where the customer can select their own items at a higher price.
5. Decide on a price that makes a profit while also giving the customer a discount.
Figure out a good price point by calculating what your subscription
offerings would cost if they were purchased individually. Tally up how
much money you’ll spend on each subscription yourself, and this will
help you choose a price that gives you a profit while also making sure
the customer is always getting a discount.
- It’s likely that you might change your pricing a little as your business grows or you figure things out, so don’t worry too much about keeping it set in stone.
- Make sure your price reflects the quality of your subscription offerings.
While you may be able to do this through your email or your website,
using an ecommerce platform online can be a helpful way of organizing
all of your orders. There are lots of different platforms to choose
from, such as BigCommerce or Shopify, if you do decide to use one. See
information like who has ordered something, how much money they owe, or
what their order entails all on a platform that's easy to use.
7. Find a supplier for your subscription products, if applicable.
In many cases, you’ll likely need to choose a vendor or supplier who
will make the products you’re offering, if you’re not doing it yourself.
There are lots of great options to choose from, like Etsy, eBay, or
even local stores in your town. Look for a supplier who can provide you
with bulk items at a lower price, or hand pick your items from lots of
different suppliers. Start a good relationship with them so that you can
depend on each other.
- You might reach out to several people on Etsy who make hand-made boat items for a nautical-themed subscription box.
- If you're making the items yourself but still need the materials to make them, see if there's a local store that will give you a discount for bulk purchases.
- Make sure the products you’re offering to your customers are great quality and not cheaply made.