{"id":39952,"date":"2023-10-20T15:05:25","date_gmt":"2023-10-20T15:05:25","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/how-this-entrepreneur-signed-up-over-250000-people-to-his-underwear-subscription-service-startupsmart\/"},"modified":"2023-10-20T15:05:25","modified_gmt":"2023-10-20T15:05:25","slug":"how-this-entrepreneur-signed-up-over-250000-people-to-his-underwear-subscription-service-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/how-this-entrepreneur-signed-up-over-250000-people-to-his-underwear-subscription-service-startupsmart\/","title":{"rendered":"How this entrepreneur signed up over 250,000 people to his underwear subscription service – StartupSmart"},"content":{"rendered":"
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Subscription services are becoming more popular in Australia but that doesn\u2019t mean it\u2019s easy to build up a loyal following, according to the founder of an online retailer with more than 250,000 subscribers.<\/p>\n

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DailyJocks specialises in men\u2019s underwear and swimwear and is on track to turn over $2.5 million this year, up from $1.5 million the previous year.<\/p>\n

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Founder Nicholas Egonidis says the business\u2019s subscription service \u2013 which ships new underwear to subscribers\u2019 doors each month \u2013 was a result of a lot of hard work, patience and trial and error.<\/p>\n

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In particular, Egonidis says social media has been critical to the subscription service\u2019s success.<\/p>\n

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\u201cFor me, that was priceless \u2013 getting people\u2019s ongoing feedback really shaped what we were doing,\u201d he says.<\/p>\n

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\u201cWhat people need to accept is social media might start free but it\u2019s never free if you want a really big response. Companies need to make it part of their marketing budget and be prepared to spend money on advertising.\u201d<\/p>\n

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Subscription services are taking off in Australia as consumers become accustomed to the likes of Spotify and Netflix.<\/p>\n

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Egonidis says this represents an unprecedented opportunity for entrepreneurs \u2013 and not just in the content space.<\/p>\n

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\u201cIt\u2019s a win-win for the customer but also the retailer or company,\u201d he says.<\/p>\n

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\u201cFor the customer often it will offer value, so they may be paying less if they\u2019re a regular customer. But it also offers convenience \u2013 there\u2019s a lot of convenience delivery services on subscription. And then for a business it\u2019s a great model because you can forecast a lot more easily if you know how many customers you\u2019ve got.\u201d<\/p>\n

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DailyJocks launched its subscription service in 2012, signing up 2000 users within the first month.<\/p>\n

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Egonidis says he has learnt a lot since then, encouraging other entrepreneurs looking to leverage a subscription model to find a good web developer and look beyond the Australian market.<\/p>\n

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\u201cIt can also be a cash flow intensive model too, especially if you\u2019re having to pre-purchase significant amounts of stock for customers if they haven\u2019t paid for it yet,\u201d he says.<\/p>\n

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\u201cIt\u2019s definitely something businesses need to factor in. You need to be able to grow sustainably because fast growth without the cash flow or margins can be very difficult as I found initially.\u201d<\/p>\n

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Do you know more on this story or have a tip of your own? Raising capital or launching a startup? <\/i>Let us know<\/i><\/a>. Follow StartupSmart on <\/i>Facebook<\/i><\/a>, <\/i>Twitter<\/i><\/a>, and <\/i>LinkedIn<\/i><\/a>. <\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

Subscription services are becoming more popular in Australia but that doesn\u2019t mean it\u2019s easy to build up a loyal following,<\/p>\n","protected":false},"author":2,"featured_media":61240,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/39952"}],"collection":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=39952"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/39952\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/61240"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=39952"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=39952"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=39952"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}