Subscriptions are only for content and wine lovers? Right? Wrong. Two entrepreneurs profiled on Forbes give a great example of how subscriptions can work in unlikely industries. August Laura and Doug Zander of Jimmy Beans Wool decided to offer yarn subscriptions as a way to experiment with new business models. For just $10/month, you can get a subscription to a yarn box that will inspire you to try new crafting projects with patterns that come in the boxes.
When Jimmy Beans Wool posted the new offering in a newsletter they got about 146 subscribers, but when they posted an ad on Facebook, they got an astonishing 1,001 subscribers! They were shocked and took the ad down right away as they figured out how they were going to fill all the orders. Since then they have grown their program to more than 5,000 subscriptions. Laura estimates their business will double in the next few years because of this program.
So, it shows that no matter what your business is – whether it is something that is traditional for subscription boxes like beauty products, food and beverages, or something a bit less conventional like yarn, trying the subscription idea can really help your business take off!
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