You would have probably heard of the concept of a parallel universe which is entirely hypothetical. But you will probably be amazed to know that unknowingly a parallel world has come into being—the digital world. The pace of innovation and progress in this world is far more than the real world where we live.
Businesses are entering this world to explore new pathways to boost their revenue. If you are an entrepreneur and willing to invest your resources, do not waste time on conventional business ideas.
There are many untrodden paths in the digital business world. One of the popular business models is subscription billing. There is a lot that you can do as an entrepreneur in this domain. Following are some subscription-based business ideas that will surely help you find the entry point in the subscription market for yourself:
eCommerce Subscription Business
The concept of eCommerce is simple—people buy and sell online. However, finding a new idea in the eCommerce market will be difficult initially. But you need to trust this. There is a lot more to explore. You can make your way. There are a few basic things that you must have while planning an eCommerce subscription business, e.g., an attractive website.
In the digital business world, there is no constraint of buying or renting a shop. You register the website domain, and you are ready to set your eStore. You can also preplan the subscription boxes that can help you attract customers. In addition, many SaaS companies offer online billing software for small businesses that you can use when you start your business.
SaaS Products & Services
Initially, the subscription billing model was considered to be the best for only SaaS Products and services. With time, even manufacturing companies entered the market. Today, there are endless options for the subscription business community. However, it is still one of the best business models for SaaS products.
If you are a tech-savvy person, you can come up with your product or services and offer subscriptions for them.
Do not jump on the bandwagon because the subscription business market is saturated. If you try to copy others, you will minimize the chances of the success of your business yourself. So, make sure you do a revenue forecast for your subscription model before implementing it to understand if it’s feasible or not.
If you are already offering elderly care, daycare, house help services, then some of you would probably be unaware of the fact that you are already part of the subscription business market. It is just that you have not formally adopted the business model. So shift your grandparent care services to subscriptions.
If you are worried about the complexities of billing, invoicing, and taxes, then all you need is to subscribe to the best online billing software that can manage your subscribers, bills, invoices, payments, and reporting, etc.
It is also affordable for your end clients. You can offer various subscription boxes. For instance, your subscription box can include elderly care for Christmas Holidays, Easter, Halloween holidays. It is not easy to arrange affordable elderly care services on these festive holidays.
You can also offer a subscription box for those who plan vacations for a month or two and want their elders to be cared for. You can try a lot of things by shifting to the subscription billing business.
Many people love traveling. Traveling is not a recreation for them but a necessity. As a subscription business entrepreneur, you can target them. Offer them subscriptions for weekly, monthly, or yearly tours. If you have a traveling club and have not yet shifted to subscriptions, now is the right time.
You can plan traveling subscription boxes. For a week, you can offer local tours. For after a month, you can offer subscriptions to travelers who want to visit some other country. You can also plan something for those who are interested in the world tour. Now that we are entering the post-covid times, it is high time to attract all travel freaks. The field is open. It is up to you that how do you play.
Subscriptions for those services & products work the best that people need recurring. Haircut, beauty treatment, yoga, and exercise are the services that people need regularly. Offering subscriptions for them would be a fantastic deal for everyone.
Other than offering subscription boxes, you can offer the option to gift subscriptions. Every human being needs haircuts repeatedly. There is a huge market waiting for you, what do you wait for?
Suppose you are afraid that the subscription billing business market is already competitive. It is difficult for you to get an entry, then be at ease. However, there is a lot that you can do to earn recurring revenue. If you are unsure about your subscription-based business plan, then SubscriptionFlow is the platform where you will get a chance to discuss your plan with a team of experts. They will help you improve your business plan. It is the best online billing software and sales tax management software for small businesses and large enterprises.