Hi guys,

I have a right headache of a question that I have been Googling to death and can't find an answer. I really need the help of somebody who understands subscriptions.

Basically, myself and another guy I know have big Facebook groups totally nearly half a million people between us (and growing rapidly by 2,000 every day) in the plant based eating niche. I have a meal plan subscription I am working on where people will be sent meal plans and shopping lists weekly.

We want to sell this subscription plan for only $1 monthly because we know at that price we can pretty much get everyone in the groups (and new ones coming in) onto it because nobody minds signing up for a dollar. And obviously they are getting awesome value and we still make a lot of money.

But, my question is, how feasible is it to sell something on subscription for just $1? I mean it sounds great on paper, but in reality does it work by the time all fees are paid to subscription companies and whatever else. I don't want to get this pricing wrong and mess everything up. Is there someone out there who understands about this stuff because I just can't get my head around it?

Thanks so much!

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JeffreyBrown Premium
I learned some very interesting information in the answers to your questions, Stefanie! Very well done, and Best success to you in your endeavor!

Jeff
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StefanieT Premium
Thank you Jeffrey, really glad it's helped you too!
Good luck to you :-)
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JeffreyBrown Premium
It has, indeed, Stefanie!

Enjoy your new week!

Jeff 😎
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philmedia Premium Plus
The best example of this is how big companies keep a subcriber at all costs, why... because it affects the valuation of a company. They might be on the lowest plan or free plan but its potential. Its why companies reduce rates if you say you are leaving. It can affect their share price. Its good to do a complete ROI report.

Only 3 ways to grow a business

Volume
Price
Frequency of purchase

Good luck, Phil
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StefanieT Premium
Thank you Phil,

I need all the advice I can get right now.

My issue today is finding a company that don't take too much a fee. For instance, Shopify take 20 cents per transaction, which isn't good on a $1 product. If you know anything about this, then that would be great :-)
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Triblu Premium
Hey Stefanie,

My advise is to seek out the advise of your local tax accountant. You may discover that your suggested $1 would be better at $5 yearly.

A tax consultant for your country would be the best place to start getting advise on this as they should know the rules for your business.

You may need to be prepared to pay for consultation, but it would be soooo worth your while, and that fee would be a tax deduction.

Hope you find this helpful.
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StefanieT Premium
That is so helpful Triblu, thank you so much! I didn't think about doing it like that. I think people would go for that too.

Awesome!

Again, thanks :-)
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richardgb Premium
Hi Stefanie
Adding to Abie's comments. Last year or the year before, Neil Patel wanted to start charging for Ubersuggest (SEO and Keyword SW). He asked his audience what price was reasonable and then started with a lower price than they suggested. Over time the price has been justifiably increased.

If you took that route you would also be gently pre«selling the idea. You would need to tell them why you are asking the question of course...

I don't know your niche so can't comment on the actual amount however, I will comment (ho ho) ... $1 sounds very low to me. Remember there will be processing charges to take into account too.

It sounds exciting and I wish you the very best with this.
:-)
Richard
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StefanieT Premium
Thank you so much for the advice Richard :-)

I also follow Neil Patel and have learnt some great stuff from him!

Yes, we thought $1 because we know we can literally get everyone signed up for that! It would probably work out better.

However, Triblu's suggestion of making it $1 but they need to pay yearly made lots of sense. So, $12 for 1 years subscription. Think we will try this along with your other suggestions.

Thank you so much :-)
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AbieAJ Premium Plus
Hi you can say it is admin fee to keep group going and that by nature admin and moderators do the work voluntarily.

I experienced same with Meetup dot com, I found it discouraging IMO but was looking for free ones. Some may think you may be taking advantage however if you are going to do it, I would package it well so that price is justified.

Run a survey in the group and see what your members want before you enact things. Don't see anything wrong in that.

Other members may have different opinions.
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StefanieT Premium
Thanks for the advice Abie,

So, as it stands you can't charge people for facebook groups, which is fair enough. That's Facebook's rules. But, you can charge for a subscription group ones you have 10k followers on your business page. So, it's definitely not taking advantage of groups as it's a completely different thing. I think I may have worded my question to make it sound like that. Sorry :-)

They are getting a great product for their money. Weekly meal plans, shopping lists, everything they need that most other people are charging $20 for. Also, there are a lot of costs and time involved in designing weekly meal plans, paying email providers, subscription platforms etc. It's not cheap. It will be a full time job for us all just to get it all out there.

Groups are exhausting to run, people don't understand. I've had mine for a year, never made a penny and spend most of my time on there keeping spam off, moderating comments, providing valuable content to keep my group high in the search engine. It's not sustainable unless you want to work for free. I need to now make money LOL. This is the best way to get something back, even if it's only $1 ;-)
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