Recurring revenue models are all the rage these days, and for good reason. You can make a sale once and continue to earn from it as long as you keep your customer happy.
There are quite a few recurring revenue business examples from The Side Hustle Show archives:
- Jonathan Milligan shared how he built his membership site.
- Ryan Cote explained how he set up his SEO business on a monthly subscription basis.
- A few months ago we met Dan Norris from WP Curve, a subscription-based WordPress maintenance and support business.
- And recently, Tyler Zey advised listeners to “focus on recurring revenue as early as possible.”
At its simplest level, recurring revenue comes from solving a recurring problem.
In the realm of physical products, one trend is the subscription box service.
Think of companies like Dollar Shave Club, Trunk Club, Birchbox, Graze, and dozens of others. There’s even BarkBox, which sends new toys and treats to your dog each month.
Today I’m excited to introduce Ross Simmonds, a side hustler turned full-time entrepreneur, and the founder of Hustle & Grind, a coffee subscription box service.
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Learn:
- How Ross came up with the idea for Hustle & Grind.
- The lucrative “cost of goods sold” most subscription boxes operation with.
- How Ross pre-sold and pre-validated the idea with a viral launch.
- How he sourced his inventory.
- The unique branding and positioning that separates Hustle & Grind from other coffee subscription services.
- How they’ve grown and how they fulfill orders.
- The marketing channels he’s found most effective.
- Ross’ #1 tip for Side Hustle Nation.
Tweetable:
How to start and market a subscription box service <– click to tweet!
Links:
- RossSimmonds.com
- The Hustle Manifesto (use promo code SideHustleNation for 25% off)
- Hustle & Grind
- BeanBox
- Hustle & Grind on Instagram
- Rich20Something on Instagram
- FoundrMagazine on Instagram
- The Side Hustle Show with Dan Norris
- Jab, Jab, Jab, Right Hook
- CrateJoy
- Their Reddit Launch Thread
- Sunrise Calendar
Download the Free PDF "Highlight Reel" from this Episode
With all of my guest's top tips and resources included.
Enter your email to access it now:
Success! You just unlocked the highlight reel from this episode ... AND over 200 other subscriber-only bonuses. Check your email for details :)
(If it doesn't show up in 5-10 minutes, check spam/promotions.)
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I’ve thought about creating one of these subscription box services time and time again, but each time I shoot myself down because “everyone’s doing that” or alternatively “someone probably already used that idea”.
I’m my own worst enemy, it seems.
Hey Nick,
Just found this interview. Very inspirational. Like the concept.
I thought it’s important to point out though, as of today 11/15/16, their Instagram account has 106K followers but their follower engagement is less than 1%.
Tends to mean that the followers were acquired through paid shout outs which accounts for such low engagement.
So, I’m not sure what the real story is.
It’s almost a “fake it” approach where they’ve built up the Instagram account by paying for shout outs to other Influencers. So then they could show the high number as social proof to vendors. But, if the vendors knew how to measure engagement from Instagram, then this would definitely prove to be a bad partnership.
Nick, Would love if you could always ask in your interviews, “How much money did it take to start each side hustle”.
Thanks
Interesting — thanks for sharing Tejas.