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How adding a subscription box to your online business can be a game-changer for your bottom line
Have you ever thought about adding a subscription box to your business?
If you haven’t, I definitely encourage you to consider it! Not only can a subscription box be a game-changer for your bottom line, but it can also be a great add-on benefit to support your audience even further.
I know, I know. You’re probably thinking, “But Amy, I’ve got enough on my plate with my business already… and this just sounds complicated.”
But here’s the thing. Adding a subscription box to your existing business is actually really simple to execute — and my guest on this episode, Julie Ball, is going to share exactly how to do it.
Julie founded and recently sold Sparkle Hustle Grow, a monthly subscription and online community for female entrepreneurs. As a subscription box business coach, she teaches aspiring subscription box business owners how to turn their ideas into reality.
In this episode, she shares why you might want to consider adding a subscription box to your digital course or online business, plus:
- How to decide what the focus of your subscription box should be
- What you need to know about the subscription box industry
- Her step-by-step process on how to get started with your subscription box
- Three ways you can incorporate a subscription box into your existing business
This was a really enlightening conversation, and I’m excited for you to hear it!
Here’s a glance at this episode…
- [07:51] Julie left her corporate career in 2011 and launched her subscription box business in 2016. She replaced her full-time income in nine months.
- [11:54] She had the subscription box business for six years and then sold it.
- [12:37] Julie shares three simple ways to add a subscription box to an existing business.
- [18:32] There are five simple steps to get started with your subscription box business.
- [24:06] Buy your products in bulk or wholesale. The manufacturer price should be about 50% of retail price.
- [30:03] The first and last days of the sales cycle (the 1st and 30th) are important. Renewal day is in the middle of the sales cycle (the 15th). Shipping day is a couple days after closing out the sales cycle.
- [33:21] About 95% of subscribers renew, so each monthly “launch” doesn't feel as heavy. Having a community helped prevent churn.
- [36:08] A welcome box is a one-time product. You send it at the onset of a program. It’s perfect for courses, affiliate programs, or summits.
- [39:54] It’s important to get clear on what your version of success is.
- [41:20] She had a dream life session with her family, and it became clear that it was time to sell the business. It sold in 94 days for multiple six figures.
- [47:18] Julie's next season is all about focusing on her family and doubling down on subscription box coaching.
- [49:35] The biggest successes for Julie were being able to leave her corporate job, replacing her husband's income, and selling her business.
- [53:10] Amy's biggest takeaway: Research the marketplace and pitch Two Weeks Notice to be in subscription boxes.
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