How to Sell Your Business to a Family

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, replace her husband's income, and sell 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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