Organised by The British Library
Subscription based businesses are booming in popularity and present a fantastic opportunity for recurring revenue in the online space.
About this event
Subscription based businesses are booming in popularity and present a fantastic opportunity for recurring revenue in the online space. Last year, the UK ‘subscription economy’ was valued at around £395 million and according to McKinsey the subscription e-commerce business industry is worth about $12 billion to $15 billion (quoted 2018) and on upward trajectory.
If you’ve never created a membership or subscription service with your business, there’s a lot to understand before diving in fully.
In this workshop we will explore a 4-step hack that I have used to build a subscription box business that I call the ‘Power of ONE’. I will show you the formula that helps you to digest the key elements of building a subscription box from scratch. As we explore this business model, we will look at the importance of the product inside your box, how you should price it for sale, and the importance of having a sales and marketing strategy.
One common mistake is failing to stay abreast of industry movements and developments. Let's not repeat the errors of LoveFilms or Blockbusters, who didn't embrace the online realm, but rather let's be like Netflix. It's essential to move in sync with the market to foster growth.
Building a business that can adapt to current market shifts (or the desired market you aim to enter) is crucial. By launching a membership-based business, you can eliminate the uncertainty of where your next pay check will come from. Even in challenging times, this decision can prove to be one of the best you'll ever make.
Meet our Business Support Manager
Jacqueline is an author of the pioneering coffee table book, Fashion Africa, and a professional fashion designer with over 16 years working for brands including Puma, C&A, Animal, and Fila. She is an International Public Speaker (including House of Lords London, European Commission Brussels, Fashion Institute Technology NYC, Who's Next Paris), a visiting fashion lecturer (London College of Fashion, Ravensbourne, UEL, Amsterdam Fashion Academy), an African Fashion Business Consultant, Sourcing Agent, and industry researcher.
Keep up to date with Jacqueline and Africa Fashion Guide on her social media platforms for more fashion business content:
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For any questions, please contact.