Lemonstand is an ecommerce platform well known for building a subscription box business on. Creating a subscription business using this platform has five key advantages.
- You can design your store the way you like it.
- There are no transactions fees and thus your monthly cost for using the platform will remain the same even as your business grows.
- It supports over 95 payment gateways and thus you will have a variety for your customers.
- You can offer both subscriptions and one time purchases.
- You can easily manage discounts for your customers.
They have a built in subscription management software that makes it easy to manage all the aspects of your subscription business including customers, products and shipping.
Lemonstand gives you a free 14 day trial and monthly fees start at $19 per month. To get started simply open their official website and select get started. A form will pop up which you will use to provide basic details such as your name, phone, address, products and business name.
Lemonstand has a number of themes specially designed for subscription services. Take the time to browse through their theme gallery and choose one that fits your store best. Alternatively, you could have one custom made just for you.
Identifying Your Product Source For Your Subscription Box Business
Next you need to know where you will get the products for your business. You can either sell your own products or partner with other business owners. Each option has its own advantages.
If you sell products that you own, you can easily customize them to meet the interests of your target. Selling someone else’s products on the other hand allows you to get started even with little capital.
Some of the common products that do well in subscription ecommerce include beauty, food, books, movies and pet stuff. However, you can find numerous products with great potential outside these niches so don’t limit yourself to the popular categories when doing your research.
When choosing products for your subscription box business consider targeting a specific niche. Specialize in a niche that has not been addressed by general ecommerce. Look for a need or an interest that is not already saturated and go for that.
Give Your Customers Options
Your subscription business should have a number of options for your customers. Not everyone loves getting into a long term contract and thus consider breaking your subscriptions up to one month, three months, six months and one year or more.
Offer a discount for the longer subscriptions so as to entice your customers to opt in for a longer period. However, do this carefully so that it does not affect your profitability.
Also you could offer free shipping for the long term subscribers but you need to check how it affects your profitability before you implement. Use this to get customers to opt in for the yearly subscriptions.
Lemonstand is one of the best platforms for running a subscription business but success solely depends on you. Choose your products well and give your customers subscription options to ensure that no one is left out.
Additionally, don’t forget to market your business and invest heavily in social proof.