My daughter loves gin.
She’s just bought into a subscription for ilovegin.com
Every month they send her a 2 small bottles of gin with 2 mixers.
She’s looking forward to trying out different types of gin without the risk of buying a standard bottle and not liking it.
The first box came yesterday.
Here it is…
You can see I wasn’t quick enough to take the picture of the full box!
Anyway it got me thinking that it’s quite a clever business model that could be applied to a whole load of other businesses.
Not just product-based, but also service based.
It’s by no means a new model (think magazine subscriptions).
You might have noticed other less usual subscription services popping up all over the place (like Dollar Shave Club, Who Gives a Crap – toilet paper, Hello Fresh – recipe boxes, Knit In A Box)
For the customer they get a regular supply of whatever it is you provide, so they don’t have to worry about running out, or they’re trying something new that they might not have thought of before, or the convenience…
For the business owner it’s a regular monthly income.
By chance, I happened across this podcast talking about the subscription model and the pitfalls to avoid.
Robbie Kellman Baxter has written a book about the subscription model and was interviewed on the Business Made Simple Podcast.
It’s well worth a listen if you’re thinking of offering a subscription type service.
Back to my daughter, in case you’re worried about her gin consumption…
She was celebrating a mini-success – she’s studying for her accountancy exams and she got a very acceptable result in a practice test of a module she found particularly difficult.