3 Ways to Save Money When Starting Your Subscription Box
Starting a business means you do have to spend some money upfront to get your business up and rolling. Subscription boxes are a unique business model that I've seen a lot of owners (myself included) spend money on things that can be very damaging to your bottom line. And since most start their business by bootstrapping it themselves, these three tips are sure to help you save your money as you grow.
1. Use a plain solid color box.
I get it. Those custom-designed boxes are beautiful. They're also really expensive when starting out and let's be honest, do you really want to buy 5,000 boxes upfront so you can get them at the lowest cost?
Using a solid color box will be less expensive, freeing up vital funds for other business expenses. You can find different boxes on Amazon, Uline, or through smaller sites like The Boxery. Remember, the size of your box (and weight) will determine how much shipping costs will be. The bigger the box, the heavier the box, the more shipping will be.
Is your subscription box more inspirational and uplifting? A solid yellow or white box could work perfectly. Is your subscription box more moody and spiritual? A black, brown, or navy-colored box could be a great option. An arts & crafts subscription could do a white or brown kraft-colored box.
Jazz up your box with custom details, like placing a logo sticker on the front, using branded packaging tape, stamps, or even handwriting each customer's name on their box. Some of the best-looking subscription boxes have the simplest approach to their box design. The great thing is, as you grow and build your business, you can change up the way your box design looks if you wish.
2. Invest in relationship building and collaborations, not paid ads.
I 100% believe building relationships and collaborating with those in your niche and target market has a greater return than paid ads, especially when starting out. Most likely, you're starting from scratch in building your audience, so how exactly do you go about doing that?
First, follow accounts on IG and FB that are related to your box, your ideal customer, and where they hang out. That means if your ideal customers are hanging out on TikTok, it's time to start TikTok'ing and learning that platform. Second, building those relationships is not posting about your business. That's icky and not going to do anything but remind people that you're only about the sale. Instead, like and comment on their posts. Do this first thing for 5 minutes before you get out of bed. As you make it a habit, you will see that more people are following you and engaging in your content.
3. Be strategic & purposeful in planning
Ya know the saying "Like a chicken with its head cut off?"
Not the most pleasant imagery, but applicable nonetheless. One thing I see a lot of, especially with new subscription box businesses, is the lack of strategy and a plan. You're doing this stuff and then you're over here doing that stuff. See? A chicken with its head cut off.
One of the best ways to bring strategic planning into your business is to set your launch date. When are you going to open the doors for subscribers? Write that date down everywhere! On your phone calendar, desk calendar, family calendar, on your bathroom mirror, closet door... you get it. Now, work backward and plan what needs to get done for you to launch. Make a list and put all the things down on it. Next, start organizing those items. Think of it as a ladder. You can't get to the top of the ladder, without stepping on each of the rungs below.
But how is this going to save me money, Laura?
Great question!
Time is money. Yes, you're spending time writing those lists out and what you need to get done and when. BUT that is time (and money) well spent because you are being strategic, rather than doing things sporadically and in a haphazard way.
Being overwhelmed when you're starting a business is completely normal. There are lots that go into starting a business, especially a subscription box. If it was easy, everyone would do it. If it wasn't worth it, no one would do it.
You got this!