There are a number of industries, like software and publishing, where a subscription business can be expected. These industries suit the model well as there is a definite demand for their products on a regular and consistent basis.
Yet a subscription model is not just limited to these industries and innovative business leaders across the world have found ways to provide their products on a subscription model.
Examining these industries can be a great inspiration for your own business ventures. Look at these five surprising industries that use a subscription business model and see what ideas you can think of.
Shaving products are one of the classic examples of how a traditionally over the counter product can be turned into a successful online subscription business. One of the best known subscription shaving businesses is the Dollar Shave Club. They launched their business with the premise of giving customers new blades every month for just one dollar; the handle for the blades is sent when the customer begins their subscription. Since they started they have added on two more levels of subscription for different models.
Dollar Shave Club isn’t the only subscription shaving business; there is also King of Shaves (UK) and Razwar (Europe).
Normally kids’ entertainment on a subscription is thought of as being magazines or television subscriptions. However, across the world there are several businesses that provide entertainment boxes, toys, arts and crafts and other products on subscription.
Box of Awesome in the UK is one such example. They send out boxes to their subscribers containing books, sweets and toys. Many of the products are yet to be released in the stores. The interesting aspect of this business is that they have a free subscription service where those signed up on this plan are placed in a lottery to receive a box. Alternatively, buyers can pay £4.99 ($7.50) for each box.
Little Pnuts in the US is another example. This company sends out non-battery toys for young children. The deliveries of toys are made every three months and customers are charged either on an annual or monthly basis.
There is a huge variety of food subscription services. They can be as small as chocolate being delivered once a month to daily snack boxes delivered to a customer’s door or office. Some services even deliver the ingredients for a week’s worth of meals.
Food can be a very expensive but but there are a lot of options to differentiate your business from your competitors. For instance, you could provide local organic food or food from across the globe at an affordable price.
For those who like to have the hassle of purchasing household products taken away, there are many options. Amazon is one of the biggest suppliers in this market with everything from toilet paper to washing liquid available on subscription. Amazon makes it easy to set up shipments with users selecting the product and the frequency of deliveries. They even offer a 15% discount, the option to skip some deliveries and cancellation at any time.
Men are notorious for being bad at shopping for clothes. That is why there are several businesses established to make the process easier for them. One of the most well known is TrunkShop. This is not just clothes sent to the customer; it includes a personal stylist who will interview customers, look through their Facebook photos and then select clothes likely to suit their style and look.
Customers will receive a trunk of options and only pay for what they like, sending the rest back. There is no charge on shipping either for this service.
When it comes to creating a subscription business there are few industries that can’t convert with imagination and careful planning.
Image courtesy of Stuart Miles at FreeDigitalPhotos.net