If you’re ready to transform your career by becoming a business owner, one key factor to consider is whether the business provides recurring revenue — income you can anticipate at regular intervals. Anticipated income can be a stable financial foundation you can use to launch and grow your business. Additionally, it has the power to provide you with more varied opportunities as a business owner.
Recurring Revenue Business Ideas
There are so many different ways to build reliable revenue into a successful business plan. Wondering where to start? Take a look at these popular recurring revenue businesses:
1. Subscription Services
Subscription services offer consumers something on a monthly, quarterly, or annual basis. Technology is an easy example: A business signs up for an online accounting program and is billed monthly or annually for that service. While you may not be a software developer, there are seemingly endless markets where you can develop another kind of subscription revenue business, including fitness subscriptions, meal delivery services, and more.
2. Content & Courses
If you have a particular skill set, you may be able to turn it into a recurring revenue business by creating courses that people can pay to access. Courses can be created for just about anything, from gardening, yoga and cooking to accounting, writing, and DIY projects. Once you create the course, the recurring revenue will occur when people pay to access it without you having to do anything else. Looking for inspiration for course topics you can create? Visit Udemy to see what they offer.
3. Product Subscriptions
Another form of subscription service is where people subscribe to receive a box of products in the mail every month. This can include anything from specialty food products like wine, coffee, and curated snacks to lifestyle items like beauty products, self-care items, and even pet products. If you don’t make these products yourself, you could become a provider of this service for the businesses that do.
4. Service Plans
Service plans provide customers with a regular service, such as nail care, pest control, lawn maintenance, or residential cleaning. This type of business has the benefit of expanded revenue streams in that one-off services can be offered as well as recurring contracts. This is a great option for entrepreneurs who can’t stand the idea of sitting in front of a computer screen all day!
Merry Maids is a great example of a recurring revenue business because people who choose a home cleaning service tend to continue with that service on a regular basis. However, the brand also offers one-time cleaning options for a move-ins, move-outs, or specialty cleaning if a homeowner is hosting a special occasion and needs some extra support to prepare.
Considerations of Recurring Income Businesses
Finding the right type of recurring income business to suit your skillset is vital to your future success. Some factors you’ll want to consider when evaluating recurring revenue options include:
- Marketing. How will you promote the business to attract and retain customers while being competitive with others in your industry?
- Support. How will you build the support network for this business? You will need a system of suppliers and back-up suppliers, technology partners, and processes of how to respond to challenges that impact the delivery of your services.
- Growth. Does the business have a reasonable capacity to grow over the long term, or is it more of a current trend?
- Revenue Streams. Does the business rely on a single stream of recurring revenue, or are there other, additional revenue streams in the business?
- Industry Trends. How will you stay on top of industry trends and changes in the marketplace that could impact your business?
One of the ways you can address all of these considerations while still pursuing the best work-life balance job is with a Merry Maids franchise.
Merry Maids: Recurring Revenue, an In-Demand Industry, and More
Merry Maids is a home cleaning franchise. Our business model has a strong recurring revenue element in addition to other services that can be purchased as needed. It is also a franchise opportunity in a strong industry — home cleaning is always needed.
Merry Maids offers vetted territories to provide a solid income opportunity based on population and income levels. We offer a growth plan if you choose to expand or add territories, so you are in complete control of the size of the business you wish to build.
Perhaps most importantly, when you join the Merry Maids franchise, you will have ongoing access to a network of people who are working for you to market your business, keep abreast of industry trends, and always seek opportunities for your franchise to be as successful as it can be. We have been growing this business for more than 40 years and are recognized as a top-performing franchise.
This Could Be Your Business
Fill out our online form so our franchise development team can get in touch with you to talk more about becoming a Merry Maids franchisee. We have a lot to offer driven individuals who are looking to make a confident choice in business ownership.