Side Hustle School Ep. 3045 - Q&A: “Should I switch my business to a subscription model?”
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May 3, 2025 Is a subscription model right for your business? Explore the advantages and challenges of this trend, including a deep dive into a real entrepreneur's shift from individual sales to a subscription service. Discover key strategies to make the transition smoothly while keeping customers engaged. Learn about customer preferences and the risks involved, ensuring your business grows while maintaining strong relationships with your audience.
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Subscription Model Pros and Cons
- Subscriptions create consistent income and potential long-term customer loyalty.
- However, they aren’t the right fit for every business or side hustle.
Evaluate Subscription Fit First
- Understand your audience’s buying habits before switching to subscriptions.
- Test with a pilot offer and keep one-off purchases to avoid alienation and risk.
Position Subscriptions as Value
- Market subscriptions as added value, not a limitation.
- Emphasize convenience and savings while keeping one-off purchase options.