Subscription Box Business 2022 – What I Wish I Knew Before Starting My Sub Box Business

The subscription e-commerce sector is valued at $98.8 billion and is expected to grow between eighteen and 29.2 percent over the next five years. It doesn’t get much better than this for businesses that are diversified into a number of subscription-box categories.

If you’re planning to launch your subscription box planning the right marketing strategy for your business is crucial.

In this article, I’ll share with you some of the things that I wish I knew before I started my subscription box business.

Watch the video below:

1. Go Small or Go Home

If I could start over, I would have simplified my box business and put fewer products in my box. Early on, it’s easy to fall into wanting to wow our customers by stuffing the box with items. This can be a hard habit to maintain as your box grows over time.

I started my box with fancy expensive packaging and the promise of 10-12 items every month. If I knew then what I knew now, I would have offered simple packaging with less items as this can be challenging to do every single month.

One of the main reasons people cancel subscriptions is that they feel overloaded with too many items every month. Keep this in mind when planning out your subscription box. Many times, less is more.

Now, I have to make be mindful of some of the stuff I put in the box to make sure my subscribers can use the items inside monthly and they’ll be looking forward to more in the following months.

2. Eco-Friendly

At the beginning of my box journey, I wish I was more mindful of eco-friendly packaging.

Now we’re more mindful and have made some changes over time to more eco-friendly packaging options.

3. Box Budget

Remember, you want to make sure to start your box business in a way that is sustainable for growth when you first start.

I spent over my set budget quite a few times earlier on and suffered for it later. I even almost lost the business within the first few months. I wish I came into my business understanding the importance of setting my budget and sticking to it.

4. Business Credit and Savings

When I first started my business, I had a few thousand dollars saved. Having a safety net whether it’s savings or business credit is important when starting this business as you have to do a good bit of purchasing upfront and it can take some time before you see a profit.

5. Prepare Your Business for Growth

I’m repeating this again as it’s super important. Be sure that the decisions your make early on in your business are preparing you for a great future. Of course, some mistakes can’t be avoided and you’ll make some along the way. But always think about the type of business you’re looking to build in the future when making day-to-day decisions.

I started my subscription box business in 2020 and I wish I knew then what I know now. I would have done things differently and saved myself a lot of time, money, and headaches. Starting a subscription box business is a lot of work, so you need to be prepared for the long haul.

Learn the 1st steps you should take to plan and launch your subscription box! Get the Sub Box Toolkit here.