Set up Recurring Revenue—Build Business Using SaaS Subscription Management Tools in 2022

Millions of people think to embark on the journey of starting their business and get added to the list of entrepreneurs but get stuck at one thing – what business should I start from?

The advent of software-as-a-service and the evolution of the subscription business model make it easier for individuals to start their ventures with little capital investment and gains steady and stable streaming of recurring revenue.

To some people, managing a business with a recurring billing model may sound hassle and a lot of work, but it is not. All you need is a cloud-based subscription management software to help you with recurring billing, payment processing, subscription lifecycles management, subscriber’s profile and additional data handling, tax calculations, etc.

This article will brief you on a few of the business ideas to begin with, and how just using a SaaS subscription system like SubscriptionFlow can help you start, manage, and grow your business.

In this article, we will further look over the reasons to choose a SaaS business, types of SaaS businesses, and various ideas to choose from for a software-as-a-service business. Let’s dive deep into it.

Also Read: Challenges Of The Recurring Revenue And The SaaS Business’ Growth

What is SaaS Business?

Service-as-a-software provides a platform to the customers where they have access to functionality, tech support, and services bought under a subscription plan. Running a business based on SaaS takes the responsibility of handling and maintaining all the servers, databases, and infrastructure required to run products seamlessly. Moreover, with the help of SaaS businesses, the stream of recurring revenue gets pristine for startups or for those who plan to start their SaaS business.

In a SaaS business, there are integrations, APIs, features, and solutions that equip the customers with streamlined processes required to manage their business daily operations.

SaaS has taken prevalence in the online business and technology world. Businesses of different sizes and diverse customer bases are marching toward the Subscription business model and are equipping themselves with SaaS tools for the fact that it is tailored to the needs of customers and merchants raining them with several benefits.

A number of researches have been conducted on SaaS and pertaining fields further validates the growth of the market with growing interest in SaaS-based products. According to Statista, the market for SaaS solutions is expected to grow to almost $172 billion by 2022.

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Why Should You Invest in SaaS Tools?

Investing in a business means considering every point that eases the management and scaling of the business. One must look into the pros and cons of the business so that any unprecedented risks can be managed beforehand. There are a few reasons why one invests in SaaS subscription software to run their subscription business smoothly.

Let’s look into the factors that give an overview of it and know how you can generate a stream of recurring revenue and thrive in it.

Low Cost

It is deemed that in order to start a business, one must have a huge capital to invest as there are certain aspects to be met for businesses. However, when it comes to running a business or even starting up a subscription business, the cost can be very low that any person with little capital investment can start a business.

Invoicing, Billing, and Payment Automation

Is your finance team burnt out due to the burden of creating invoices manually and sending them to the customers? If this is the case, then it’s high time to adopt a SaaS billing and payment processing platform for generating automated invoices for the customers and start collecting payments from customers residing anywhere in the world.

Such tools include billing software, payment gateways, revenue management tools, and more. They are in high demand and starting it as a SaaS business would be the best kickstart you will ever need.

Business On-the-Go

The cloud nature of tools helps you manage the business processes from the coast of Corsica to the desert of Sahara. It gives businesses the flexibility to acquire tools and systems from anywhere in the world and use them at any time.

The remote nature of SaaS tools allows businesses to connect with their associates, partners, and prospects beyond the borders and build revenue prospects 24/7/365.

Predictable Revenue

Let’s suppose you are starting a business and you need to know the predictable revenue earned from the business. It might not be possible when you are not sure of your customer’s buying plans but with a business based on the subscription model, one can predict it.

For startups, SMBs, and even large enterprises it is very significant to understand the predictable revenue of the business as it matters to the investors who plan to invest in it.

You can also have the predicted cost for the future. Impressive, isn’t it?

No Temporal and Spatial limitations

SubscriptionFlow offers businesses to store their data with cloud storage, so, there is no limitation on space and time. One can manage their data without any limitations which is a very plus point for businesses and startups. Online subscription businesses often cater to a global customer base that improves the revenue potential.

Also Read: Top SaaS Billing Models for SaaS Businesses

Top Five Subscription Business Ideas in 2022

Now, we have an overview of businesses that work on the subscription-based model. It’s time to look into the business ideas that you can start within 2022.

eLearning Business

eLearning is an emerging business that has moved with the SaaS subscription model. eLearning businesses may need another SaaS tool in addition to subscription software i.e. Learning Management System or LMS.

Learning management systems for eLearning businesses do not need to invest much into the on-premise solution rather all the services are available on the cloud with the features and solutions upgrading timely as part of the service.

LMS solves the problems like the planning, creation, management, and execution of the courses and other eLearning material, and a data repository for key information on a learner’s journey and performance.

On the other hand, a recurring billing and subscription management system like SubscriptionFlow helps e-learning businesses to offer multiple classes, courses, and learning materials as subscriptions and manage the billing, payments, and other subscription operations in one place. Moreover, LMS can easily be integrated with SubscriptionFlow along with other third-party applications.

Without any need to install the software and spend tons of capital investment, it is better to use the SaaS platforms for your eLearning business and thrive in it by getting maximum recurring revenue for your business.

eCommerce

The world of eCommerce Is rapidly expanding. After covid hit the world, the selling and marketing of the products electronically hiked. Subscriptions can further add fuel to the success of the eCommerce business.

You can begin the journey by offering products on subscriptions and/or subscription box business.

SubscriptionFlow gives freedom to automate accurate tax calculations management with seamless AvaTax integration. Furthermore, you may streamline your operations further by integrating other tools like finance and accounting, sales and marketing automation, inventory management, payment gateways, and more.

SubscriptionFlow can help you to provide the best services in the best possible way, from building a stellar and personalized customer experience to offering custom solutions for subscriptions, billing, payment, and more, in an all-in-one place.

Digital Marketing

Marketing has become the core value for businesses as they have to market the services, create leads, and bring them to the conversions. There are different platforms for marketing such as HubSpot, InfusionSoft, MailChimp, Google Ads, Analytics, and more that keep the business in the loop for contacting and interacting with clients.

It is a good idea to start it as a subscription business that offers social media management, email, or search engine marketing services. A number of SaaS tools can be integrated with SubscriptionFlow to manage not only your subscriptions and billing, but you may manage your leads with pipeline management features in SubscriptionFlow.

Digital Media and OTT

Digital and smart devices have taken over the old-school ideas of education, research, learning, entertainment, and even sports. The rise of digital media and OTT platforms has changed the way we knew magazines, newspapers, movies, games, networking, etc. were available in past.

Starting an online e-magazine or newspaper, building a digital media outlet for streaming movies, series, documentaries, or any other gated content, or creating subscription-based online games or e-sports events are the new ways to offer businesses around education and entertainment using digital media tools.

SubscriptionFlow is the best newspaper and magazine management software in the market. We also offer subscription management for digital media and OTT platforms, all sorts of mobile app subscriptions and other gaming platforms subscription businesses.

SaaS and Mobile Applications

Taking advantage of the SaaS tools, you even can lay the foundation of a SaaS business or subscription-based mobile applications monetized to earn a substantial income.

Create your MVP and offer a trial subscription to a select customer base with SubscriptionFlow. It offers trial subscription management so that you can embark on a journey of building a business with minimum risks.

In the process, you may require the assistance of some other SaaS subscription tools such as project management, sales and marketing automation and management, and others in addition to subscription management software.

With SubscriptionFlow, integrate them all in one place and streamline your workflow.

Also Read: AI and SaaS for Revenue Growth

Final Thoughts

As the SaaS market is growing and expanding, the chances to grow in the subscription market using SaaS tools also expand. With the predictable revenue and stream of recurring revenue, you can take your business to the heights of scalability. One has to keep an eye out and understand the dynamics of SaaS and subscription businesses to take the business to the point of sustainability and later to the heights of scalability.

To get the expert’s opinion and start SaaS business ideas, contact SubscriptionFlow!