What are the pros and cons of starting a subscription box business?
A subscription box business has a few pros and cons, which you should be aware of before getting started.
Here are the high level benefits and drawbacks of a subscription box business:
|• Flexibility||• Crowded Space|
|• Ability to start your business from home||• Finding The Right Supplier|
|• Little startup costs required|
|• Rewarding work|
You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.
• Ability to start your business from home
It's not necessary to have a physical storefront or office space to get your business started. You can do everything from the comfort of your own home, at least in the beginning!
• Little startup costs required
The cost to start a subscription box business costs significantly less money than most businesses, ranging anywhere from 2,050 to 25,300.
• Rewarding work
Starting a subscription box business can be really rewarding and fun work. After all, you're bringing joy and excitement into people's lives.
• Crowded Space
Competition is high when it comes to your subscription box business, so it's important that you spend a good amount of time analyzing the market and understanding where the demand lies.
• Finding The Right Supplier
Most businesses in this space go the supplier/manufacturer route, which isn't a bad thing! However, finding the right supplier can take a lot of time, energy and trial/error. If done properly, this process can save you months (if not years) of time and energy. More on this below in the "finding a supplier" section.