Why You Need To Start A Candle Subscription Box
Aug 25, 2023
In this blog you’ll learn:
- What the Holy Grail of business is
- How you can help relieve sales stress in your business
Most business start each month with zero. Meaning they work hard all month building sales, then when the new month comes around they start from zero and have to do it all over again.
This is very stressful, as we all have bills to pay so we need to make enough sales to cover the bills before we think about the supplies, shipping fees, packaging and then perhaps a little profit!
How amazing would it be to wake up on the 1st of the month and you’ve already covered the main bills for the month?
This is possible, and you do it with recurring revenue.
Recurring revenue is the Holy Grail of any business and you need to find a way to integrate this if you can.
Our chosen method at Cosy Aromas was through a subscription box.
Why I love the subscription box model
On the 1st of each month all of our renewals come through, which typically happens in the early hours of the morning.
I love this because before we’ve even woken up on the 1st we have already covered the entire payroll for our staff for the month.
That’s because over the past 5 years we’ve built up our subscription box members to be at this level.
I love subscription the subscription box model, not just for the recurring revenue but also what it does for our brand and customer loyalty.
Each month these subscription box members receive 4 brand new wax melt scents before anyone else, so they feel special because of this. They then talk about this in our Facebook Group throughout the month, which cause FOMO to non-members, so we always get more people signing up because of this.
Then, later in the month, we launch these wax melt scents on our website for everyone to buy. Not only do you get the non-members buying, but the members also use this opportunity to stock up on their favourites.
So not only do we get the predictable recurring revenue, but we also benefit from extra sales during the month and our members help to market our subscription box to non-members for us!
It’s amazing!
Don’t get me wrong, this does take time to build up, but believe me stick with it and it will save you so much stress in the future.
Work out how many subscription box members you would need to cover your overhead - then work like crazy to get that number of members. Life then becomes a lot less stressful.
Alternatives to subscription boxes
If you don’t want to introduce a subscription box, or if it’s not suited to your business model, then you could try:
- Recurring annual ‘free delivery’ similar to the Amazon Prime membership.
- Monthly recurring fee for an ongoing discount members can use on your website.
- A paid membership area on your website.
There’s lots you can do in this space and I would seriously encourage you to explore it.
