Boutique candle business owner Tegan Brennan on why she introduced a subscription model for customers, and how it’s created a source of recurring revenue.
At a glance
Here’s a snapshot of the insights from our small business interviewee:
- Candle business co-owner Tegan introduced subscriptions on candle refills due to customer demand.
- Subscriptions have proved even more fruitful for the business than social media marketing.
- Don’t create a subscription for all your products – instead, focus on your best-sellers.
- If your customers are asking for something, consider it – or you could miss out on business.
By turning one-off customers into long-term subscribers, small business owners can create multiple sources of recurring revenue, often with less effort and investment than it would take to achieve those repeat sales on an ongoing basis.
Boutique candle maker Stump & Co introduced subscriptions on certain products in late 2021 and it’s since become a highly profitable endeavour. Stump & Co started off small – with co-owners Tegan and Luke selling wooden candle holders which they first designed for their wedding – but quickly expanded as demand for their hand-made candles and candle products grew.
We spoke with Tegan about how customers have enthusiastically responded to the idea, how the business adapts to challenges that arise and the direct benefits of the subscription model on Stump & Co’s