In the rush for “passive income” there’s a flurry of coaches and therapists launching subscription membership communities.
And yet, there is a vanishingly small number of successful platforms creating anything like a viable lifestyle for their founders.
If you’re just starting out, here’s the truth about setting up a recurring revenue stream:
1: You need a lot of people to pay you small monthly amounts to make a living from it
2: Some people drop out after a month, and on average stay for 7-8 months
3: So, you’re constantly fighting to replace the ones who leave, just to stand still
4: At (say) £50/month subscription level, each member is worth £350-£400 on average
5: You’d be better off creating a £997 offer and selling that to a handful of people each month
I’m not here to burst any bubbles, and yes, there are outliers doing ok with memberships.
Some people win the lottery too, but that doesn’t mean you will.