Updated for 2024
In this article, we will provide you with 10 unique recurring revenue ideas that you can start today. We will cover a variety of options that you can explore to generate a steady income stream, including subscription-based models, productized services, and more.
10 Recurring Revenue Models (with ideas below)
- Software-as-a-Service (SaaS)
- Membership-based models
- Subscription boxes
- SEO services
- Social media management
- Virtual assistant services
- Digital products
- Affiliate marketing
- Advertising revenue
- Consulting services
Ideas:
- AI Resume generator
- Online community for entrepreneurs
- Green subscription box
- Rank and rent local directory
- Sell access to your google spreadsheets
- Niche sites like “Tech Gear Recommentations”
Why Recurring Revenue Is Key
Recurring revenue is a vital component of a sustainable business model. It allows you to generate predictable income and build a loyal customer base. By offering products or services that customers need on a recurring basis, you can create a reliable income stream and increase your overall revenue.
Subscription-Based Business Models
Subscription-based business models are a popular choice for businesses looking to generate recurring revenue. They offer customers the convenience of regularly receiving a product or service without having to repeatedly make purchasing decisions. Some popular subscription-based business models include:
Software-as-a-Service (SaaS):
Idea: AI Resume generator. Create a resume generator that uses AI to create a resume based on your LinkedIn profile. Charge a monthly fee for access to the service.
SaaS companies offer their software on a subscription basis, allowing customers to pay for access to the product on a recurring basis.
Membership-based models:
Idea: Online community for entrepreneurs. Create an online community for entrepreneurs to share ideas and network with each other. Charge a monthly fee for access to the community. You can start with a simple Facebook group
Membership-based models, such as those offered by gyms or online communities, provide customers with access to exclusive content or services on a recurring basis.
Subscription boxes:
Idea: Green subscription box. Create a subscription box that delivers eco-friendly products to your door each month for a monthly fee.
Subscription boxes provide customers with a curated selection of products on a regular basis, often at a discounted price.
Productized Services
Productized services are another excellent option for businesses looking to generate recurring revenue. These are services that have been packaged and priced like a product, allowing customers to purchase them on a recurring basis. Examples of productized services include:
SEO services:
Idea: Rank and rent local directory. Create a directory of local businesses like “Best car wash in LA. Reach out o local businesses”
SEO services can be offered on a recurring basis, with clients paying a monthly fee for ongoing optimization work.
Social media management:
Social media management services can also be offered on a recurring basis, with clients paying for ongoing management of their social media accounts.
Virtual assistant services:
Virtual assistant services can be offered on a recurring basis, with clients paying for a set number of hours each month.
Other Recurring Revenue Ideas
There are many other recurring revenue ideas that businesses can explore. Here are a few more options to consider:
Digital products:
Idea: Sell access to your google spreadsheets. Maybe you have the best budgeting spreadsheet, or a spreadsheet that helps you track your workouts. Sell access to it using a tool like PriceWell.
Digital products, such as eBooks, courses, and webinars, can be sold on a recurring basis, with customers paying for ongoing access to the content.
Affiliate marketing:
Idea: Niche sites like “Tech Gear Recommentations”. Create a blog with a focus on in-depth reviews of the latest gadgets and tech gear. Use Amazon affiliate links to earn a commission on each sale. Create top10 lists for each category of product. Reach out to amazon sellers and ask for higher commissions or even payment to rank them at the top of the list.
Affiliate marketing involves promoting other people’s products and earning a commission on each sale. This can be done on a recurring basis, with customers making repeat purchases over time.
Advertising revenue:
If you have a popular website or blog, you can generate recurring revenue through advertising. By displaying ads on your site, you can earn a regular income based on the number of views or clicks you receive.
Conclusion: Finding Your Recurring Revenue Model
In conclusion, there are many options available for businesses looking to generate recurring revenue. By exploring subscription-based models, productized services, and other recurring revenue ideas, you can create a reliable income stream and build a loyal customer base. We hope this guide has provided you with valuable insights and inspiration for your own business.