There’s something so special about music. No matter what language you speak, it resonates with everyone. The good thing about a music subscription box is that it falls within the continual discovery basket. This means that people are constantly wanting to discover new music or completely new genres, making it the perfect product for a subscription box.
1. Vinyl
While it obviously has vintage appeal, vinyl is becoming a lot more popular nowadays. In fact, more and more people are viewing vinyl as not only the best, but the ONLY way to listen to music. This means there is definitely room for a vinyl subscription box service. Of course, there are a number of ways to do this! Keep it genre-based so people can sign up to specific types of music, or mix it up, offering a different genre each month. You can even have a “rare record” subscription box service where you only send out rare, unreleased or exclusive vinyl. The music world really is your oyster.
2. Instrument strings and parts
There are plenty of musicians or budding musicians out there who may need a helping hand. While there are some subscription boxes out there that send guitar strings out via subscription, there’s a whole world of other instruments yet to hit the subscription box marketplace. Send out reeds for woodwind instruments, cleaning products, guitar picks or even banjo, ukulele or string instrument strings. That’s definitely a point of difference.
3. Tour posters and artist merchandise
Some may call them groupies, some may call them fans. However you refer to them, there are plenty of people who want to get their hands on their favorite artists’ merchandise and tour posters. So why not create a subscription box for fandom? You can focus on specific genres or have a range of options across a number of categories. Whatever you choose, you’ll light up someone’s day when they receive their box each month.
How to start a subscription box business
Starting a subscription box is as easy as following a few simple steps.
1. Choose your idea. Yes, we know it sounds obvious, but we don’t just mean pick an idea and roll with it. We mean do your research. Look into who else is in the music subscription box industry and who else may be focusing on your niche market. What are they doing right and what can they do better? Try to improve on their product.
2. Pick a price point. Again, do your research here. There are calculators you can use but generally, you need to take into consideration a number of elements when pricing your box:
- The price of the products
- The price of the box itself and the packaging
- Shipping costs
- Monthly expenses that you may incur such as email and accounting software, website maintenance and marketing costs
- Fulfillment costs – the time it takes to physically pack your box
3. Build a prototype box. Once you’ve figured out what products are going in the box and how you’re going to send it, pack up a few and hand them out (or mail them) to some family members and friends. Use them as your guinea pigs to find out what works and what doesn’t. Ask for their honest feedback on every detail, from the products themselves to the packaging.
4. Create your website and get social. Your website, social media channels, and any marketplace you wish to join will be your sales and marketing arena, so make sure they’re the best they can be. Take photos of your prototype box – get these professionally done – and use them to create imagery. Build buzz around the product so when you launch, you already have interested customers.
5. Sell away! Get selling. Pick a date and officially launch your product.
Some key things to remember:
- When choosing the size of your box, a small box may be cheaper, but that means you won’t be able to fit as much in. Make it economical for you but worthwhile for your customers.
- You should always shop around when it comes to packing materials, box design and branding. Getting a few quotes will help determine whether you are getting the best deal.
- Also, shop around to find the best wholesale price for your products. Of course, if you are making the products, you should be shopping around for the cheapest place you can find the parts required.
- When figuring out your idea, make sure it satisfies at least three of these properties: an existing fan base; a timeless niche; discovery value; habitual need; gifting potential; emotional value; or lifestyle value. These will make it easier to ensure a sustainable future.
Why start a music subscription box service?
As Hans Christian Andersen said, “When words fail, music speaks.” Share your passion for music with others. If music has been a hobby of yours for a long time, it’s a good idea to make it into a profitable business. Why? Because if you love what you do, you’ll never work a day in your life.
Sure, it will be hard-going. It may become overwhelming at times and it’s going to be a slog to get things up and running. But you’ll want to come back to it time and time again because you love it.
Of course, there are other perks to running a business in line with your hobby. Wholesale pricing? Yes, please! Tax benefits? Only if they abide by the guidelines. Flexible hours? As flexible as you want them to be! And then there’s that handy extra income you’ll be getting too.
So, what are you waiting for?
