Small business
Should Your Small Business Consider Running a Subscription Service?
If you’re looking for more ways to generate recurring revenue and strengthen customer loyalty for your small business, a subscription service can be a great option, depending on your industry and the products/services you offer. The subscription economy (the trend where companies shift to a subscription model) is expected to reach $1. 5 trillion by 2025, having grown 435% in the last nine years. How your subscription service works will be unique to your business model— it can include certain products or services that customers renew weekly, monthly, or, in some cases, yearly. Your subscription model will be personalized, but there are some universal elements that you can consider before diving into this type of revenue model for your business......
