If you do not wish to waste your time and energy looking for best services across various sectors ranging from health to beauty industry, all you have to do is SUBSCRIBE! Name any industry, auto, wellness, hospitality and you find subscription models at their core. Various companies have embraced the business models and have experienced a tremendous growth in the business.
Closer Look at the Subscription-based offerings
These models are not so complex to understand. Subscription-based offerings are based on a business model where customers pay a subscription price to access products or services. Home Services company, such as Gapoon offers a subscription model for services including electricians, appliance maintenance, plumbing, pest control and more. Its peers like Housejoy.in and Doormint are also considering the subscription-based model in services such as laundry and fitness.
In Beauty industry, Delhi-based tech enabled salon chain, Be U Salons is changing the way modern women avail services from dependable salons. By choosing the first-of-its-kind subscription offer of BeU Salons, the customers enjoy services worth Rs 500 per month for free by simply paying an annual subscription price of Rs 1,699. The salon chain has 85+ branches in Delhi/NCR and Bengaluru and you do not have to do salon hopping in search of best prices and services.
Amazon India also offers a ‘subscribe and save’ feature that allows customers to get regular deliveries of various items at discount. Not only this, various other startups like The Moja Club, Bombay Shaving Company, Raw Pressery, LetsShave and Ustraa also sell items for daily use to the subscribers at amazing prices.
Why Subscription-based Models?
1. Ease & Loyalty
The subscription-based business are known for the convenience they offer to the customers. For instance, in BeU Salons annual subscription offer of Rs 1,699, the customers can avail a service of Rs 500 every month. Due to such an offer, the customers do not run out of the offers or have their service suspended in case they forget to pay a fee. It takes away the hassle of repaying and saves time of the customers and in turn help companies gain loyal customers.
The subscription models are very pocket friendly for the customers. The companies offers services at flat rate and helps customers in managing their expenditure. Magzter, the world’s largest digital magazine newsstand offers a Family sharing feature that allows you to share your Magzter Gold subscription with up to 4 members of your family without any additional cost. Through the offer one gets access to different magazines.
In beauty and wellness sector, Be U Salons offers free services of Rs 200 every month for an year if you subscribe by paying just Rs 899.
3. Predicting revenue
The subscription-based models allow the companies to calculate and predict their revenue easily and accurately. With complete information of the number of subscribers and services being availed, the companies can plan their investment in products and services accordingly. This helps minimise the worry about profit and loss cycle.
Businesses are quickly adopting to subscription-based models. Whether it is business-to-business or business-to-consumer, the models deliver the best services and something which every person should try.
Story Credit: Be U Salons