How To Set Up A Subscription Service in the UK

Want to know how to set up a subscription service in the UK? We do not go a day without using a subscription, whether it is on our commute to work or watching Netflix at home. However, setting up a subscription service can seem complicated. So we've made it simple!

There are a lot of things to consider, but with the right tools and knowledge, setting up a subscription service can be a straightforward process. The key points are:

• Entering your plans (subscriptions) into the subscription management software).
• Payments are taken via a card subscription which can be paused/resumed.

• If your subscription service is in the UK, you can sell in GBP.
  • Plus, you're in good hands since Subscribie is based in the UK and supports multiple currencies (USD, EUR, etc) if you need that.

In this article, Let's explore how to set up a subscription service in the UK, and the benefits it can bring to your business. From creating pricing plans to automating billing and payments, we'll cover everything you need to know to get started.

How do I create a subscription-based service?

There are a few key things to keep in mind. One of the most important considerations is choosing the right payment processing platform. You need a payment processing platform to start collecting payments. There are a lot of options out there in today's market, but most of them require computer skills and are time-consuming to set up.

Subscribie, which is a UK-based subscription first processing platform that specialises in collecting subscription payments and can be used worldwide. So, If you're looking to set up a subscription service then Subscibie is an easy & simple to-set-up subscription service in the UK with worldwide reach if you want to.

The main objective of subscription services is automated recurring revenue, therefore the tool is dedicated to automation, making the subscription process seamless. What's more, you can easily set-up your initial subscription service in less than ten minutes.

Once set-up, your potential subscribers can visit your subscription sign-up page and confirm their subscription to your service. We prepared a step-by-step on how to do this below.

Steps to set up a subscription service

Let's take a look at the steps taken to set up a subscription service.

1. Go to subscribie.co.uk and click on the "Get Started" button.
2. If you're in the UK, Subscribie will automatically detect this and set the currency to GBP (£).
3. Fill in your business name, email, and create a password. Scroll down to the next section.
4. Input the desired name for your subscription, the subscription fee, the payment frequency (weekly, monthly, or yearly), and a brief description. Click "Save" to continue.
5. You will be redirected to your Subscribie dashboard where your website will be generated automatically. You have successfully created a subscription!  Explore the customization options available to tailor your subscription service to your specific needs.

Easy right? Now, to start taking live payments, you must first activate live payments in your shop. You can also test your subscription service yourself with pretend money whilst your shop is in 'test mode'.

Making a success of your subscription service

Three words: Service, service, service!

Some of our subscription service users simply want to automate payments for their clubs or services: once the subscription system is set up there is very little work to do. This is great as it allows you to focus on what you really want to be doing: running your business,  playing in your sports club etc. Whichever the type of your business, the focus of subscription management is to automate as much as possible, giving you more time to focus on providing a better service or product doing the thing you love.

For sports clubs and volunteer run organisations, often the benefit of setting up a subscription service is purely the time-saving aspect from automation, and no longer needing to handle cash. For more profit driven businesses, here are some tips on growing.

Tips for Growing Businesses

If you're more of a growing business, then you can compete by focusing on your level of service, great customer support and the following features built into the subscription service software to win the trust and gain a reputation with your new and potential subscribers.

• Automating VAT calculation
• Automatic invoice generation
• Payment failure detection and automatic retries can save you an awful amount of time
  • Also, Subscribie gives you a breakdown of the number of retry attempts per customer so you can build a greater understanding of your customers and perhaps workout better plans for your subscribers which helps tackle churn (churn is the percentage of people who leave over a given period)
• Create special offers such as free trial periods
• Create private plans and share them privately, making them feel special and valued as a loyal customer
• Use the dashboard to view your customers' subscription status and make changes to your pricing plans

Below we've come up with some of the most common questions when setting up a subscription service to try and answer those for you.

Is a subscription business profitable?

Again, back to basics as long as your service is well run, and you earn the trust of your subscribers then you will gradually start to grow! What you may have after that is a marketing challenge to get the word out.

If you're an existing club or service or volunteer organisation, then you might find the cost of running your business goes down because now you no longer have to spend so much time doing the admin around payment collection and this may improve your profitability.

A subscription can be profitable if you have the right strategy, price your subscription just right and understand the demand of your customers. If you have a good idea of how much you are going to charge for your subscription, you can calculate the potential revenue you will earn from your subscription with Subscribie’s Revenue Calculator

Do you pay VAT on online subscriptions?

This depends if you are VAT registered or not. VAT is a setting for UK shops and can be optionally turned on. When you choose to collect VAT in your Subscribie Shop, Subscribie automatically adds the VAT amount for your subscription plans.

How much money do you need to start a Subscription?

You can also try out all of Subscribie’s features for free in test mode before you decide to start taking real payments. Starting a subscription isn't as expensive as you would expect, starting a subscription with Subscribie is a small monthly fee and you also get a 60-day full money-back guarantee! See our pricing page for the latest offers and pricing.

Conclusion

Overall, Subscribie is a great option for businesses looking to set up a subscription service in the UK. With its time saving focus on automation, user-friendly interface, and customisable pricing plans, it's the perfect platform for businesses of all sizes looking to save time and expand their revenue streams.

So why not streamline your payments today with Subscribie and take advantage of Subscribie’s 60-day money-back guarantee!