Business Idea - Subscription Based Model

There are many new business ideas that are coming up. The e-commerce has sped up the launching and the business ability of many. Due to the rapid rise in e-commerce websites like Amazon, Flipkart, Snapdeal, Shopclues, people have become more and more aware about the use of debit card or credit card for online payments. Previously people were not very comfortable. But nowadays, people are more comfortable in doing the payments. People have also warmed up to the idea of buying online. 

There are two models in any business. First is the one-time buyer. The other is the repeated buyer of more or less same product. For example, grocery items, puja items, sport items, etc. The second model can be based on subscription model. For example, a subscription of one month, three months, six months or annual basis. Subscription model is a better one and should be attempted. For example, when you get a order from some OEM (Original Equipment Manufacturer) like automobile, home appliances, etc., you get a schedule each month. This makes it easier and needs only production planning with minimal marketing efforts. But this model can also be there for retail businesses. If you have heard the name of Flintobox or Magic Crate, these are the subscription based models for quarterly or six months where you can have a newly designed kit of play or models which makes concepts easy for kids in a fun manner. Then there are also puja kit items. If you are doing some specific puja, you need to order the kit. You do not have to run here and there. 

There can be any number of such kits. You can have food kits which would be hyper-local. You can plan food according to the type of customer and can have one month or two month subscription from them. You can also design a specific kit of fruits for people. You can have recipe kit which people will make. You can also have some grocery kit. You just have to get more wild in your thinking about the kits. You can have different set of customers and design a kit accordingly. The main advantages of subscription based models are that you are assured about the orders beforehand. You get more time to get new customers to subscribe to your kits. You also get all the money beforehand (if you plan to do so). You also get time to think what more you can do to make the kits better. Magazine, newspaper, milk are best forms of subscription based models. Have you ever heard someone giving buttermilk along with milk in the morning. You can offer that to your customer. 

Think about new ideas and new kits.