Lately, you may have noticed a radical increase in the amount of membership and subscription-based businesses that are out there. I’ve been hearing from a lot of you that they seem to be popping up everywhere and for some very good reasons!
Membership and Subscription businesses are...
- Convenient to customers or clients because they get that ongoing need or desire for problem-solving. The customers get the support they need month after month.
- Cost-Effective for the consumer (aka the customer of client). And they usually have some kind of community element to them. Let’s face it, at a time like now when we can’t really be physical in communities, online communities are becoming more and more important.
- Able to Create Stability for you, the business owner. Stability in terms of recurring revenue and being able to predict what you’re going to be making in your business, month after month.
That is a huge game-changer! Don’t you think?
As someone who has a membership, I’m able to predict different outgoing costs in terms of my business. I’m also able to look up when is the best time to increase hours for the people and contractors that I have on my team.
Before COVID-19 happened, there were people with brick-and-mortar businesses that had a membership element to them. They were able to predict how many staff members they needed to have on the floor at any given time. It’s because of the recurring revenue and stability of the membership that they were able to predict this.
What I’ve mentioned above are only some of the benefits from having a membership or subscription, and there are loads more!
Today, on the Mums With Hustle Podcast, I’m going to be answering your most pressing membership and subscription questions.
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