If you’ve ever thought about adding recurring monthly income to your art of craft club, today’s episode is for you.
In today's video I’m going to talk about subscriptions, the smartest way to grow your kids arts & crafts club.
Watch the video or read the written version below.
How many subscriptions are you subscribed to?
Perhaps Netflix? What about Amazon? A subscription box? Or Canva? The gym?
Subscription businesses have become increasingly popular over the last few years, and it's no surprise why.
They save you time and create convenience.
You can run online art clubs and sell monthly craft kits. You can even get our customers to pay a monthly subscription to attend our in-person classes!
I belong to a food delivery subscription. On a weekly basis fresh produce and 3 recipes are delivered to my door. I love it because I don’t have to think about what to cook 3 for nights of the week, I get to try out recipes and ingredients that I never would have thought of. I love it and don’t mind paying the premium as it feels like a gift and it is just sooo convenient, I get excited every week when my box arrives.
We offer a similar service to our customers with our monthly art box, they get all the supplies they need for that month and then attend a weekly art class with us online.
We run 2 other subscriptions (which are available globally) in our business:
For all of our subscriptions our members pay us on a monthly or yearly basis.
Do you know what recurring monthly income means for a small business owner?
Yes, you guessed it: Stability, less stress and freedom.
For us having recurring monthly income gave us more freedom to spend time with family and more flexibility to do what we love.
What would having monthly recurring income make possible for you and your family?
Crafting club owners are in the PERFECT position to grow our businesses with subscriptions.
Let’s talk about 5 reasons why you should add a subscription to your kids crafting club.
Just think of how many subscriptions you are subscribed to. People are more and more accustomed to paying on a monthly or termly or even annual basis for things they enjoy.
People are mentally prepared when it comes to paying for this kind of stuff because we do it all the time now.
Setting up recurring payments is super easy. Most payment gateways offer a subscription option nowadays. If you have a PayPal or Stripe account, it takes just a few minutes to set up and people can start paying for your subscription on an automatic basis.
Subscriptions are so much more convenient for your customers. Having to set a reminder to pay for classes every week or month or term can be time consuming. People like convenience, the easier you make it for them to pay you the better!
Knowing that there will be money coming in month after month created immense stability in your business which reduces stress.
Also, you won’t have to be chasing one off payments anymore. I don’t know about you, but I feel very awkward reminding people to pay for stuff, so doing it this way makes it so much easier.
What would it make possible for your club if you could count on money coming in every single month? Perhaps you could hire an assistant or upgrade your studio?
With a subscription craft club or craft kit business, you set up payments to happen automatically every month and your members compound over time. Compounding, that’s a big word.
Compounding means that you don’t have to start from scratch every month. It's like a snowball.
For example, if you have 10 members sign up this month and next month 10 more sign up then you’ll have 20 automated paying customers and next month you may add 10 more and have 30! It snowballs and grows every single month.
Make sure you offer a great service and keep your retention high then your snowball will just grow and grow and grow over time.
So, to wrap up, we as creatives are in a unique position to add a subscription option to our business. Here are 5 reasons why:
Now, I’d love to hear from you.
How can you add a subscription to your arts & craft club?
Let us know in the comments.
Until next time, cheers!
P.S. If you’re looking to start or grow a kids crafting club, a good place to start would be to join our free Facebook group. There are conversations happening there every day on how to start and grow a kids crafting club - online, in person or with craft kits.
You can also join the waiting list for our membership, Creative Crafting Club and we will send you our free information pack. We open for enrolment a few times a year.