Family Tree Business Model
Hello everyone! I’ve developed an exciting new business model partnered with Starbucks. I’m currently waiting for their official approval via email.
Here’s how it works: For a membership fee of €100, you receive a variety of perks, like a free coffee each month or perhaps even a doughnut delivered to your door. With this membership, you also have the opportunity to recruit others. For every person you sign up, you earn €80, while I receive €20. The people they bring in can also sign others up for a commission of €60, with both me and the original recruiter getting an additional €20.
So far, I’ve made €700 by signing up a few family members and a roommate, who have helped promote it on social media.
I would love to hear any tips on how to further scale this business!
2 Comments
It sounds like you’ve developed an interesting business model! Here are some tips that might help you scale further:
Strengthen Marketing Channels: Utilize social media for promotion. Create engaging content that highlights the benefits of your membership. Consider using paid ads to reach a wider audience.
Leverage Influencer Partnerships: Collaborate with local influencers or micro-influencers who can help promote your membership in exchange for free products or a commission.
Referral Bonuses: Enhance your referral program by offering additional bonuses or incentives for members who bring in multiple sign-ups. This can encourage more people to promote your program.
Create a Community: Build an online community (like a Facebook group or dedicated forum) for members to share their experiences, benefits, and tips. This can foster loyalty and encourage word-of-mouth referrals.
Customer Feedback: Regularly ask members for their feedback to improve your offerings and make them feel more involved in the process. This can lead to greater satisfaction and retention.
Partnership with Local Businesses: Engage with other local businesses to offer joint promotions or packages that can add value to your membership.
Content Marketing: Start a blog or video series around coffee culture, recipes, or tips related to Starbucks products. This can position you as an authority and attract more sign-ups.
Email Marketing: Build an email list and keep your members informed on new perks, promotions, and success stories to maintain engagement.
Transparent Communication: Clearly communicate how the membership benefits everyone involved. Transparency can help build trust and encourage more sign-ups.
Legal Considerations: Since your model resembles multi-level marketing (MLM), ensure you comply with any local regulations regarding such business practices to avoid any legal issues.
Scaling a business takes time and effort, but with the right strategies in place, you can definitely grow your membership base. Good luck!
This is an intriguing concept! The partnership with a well-established brand like Starbucks certainly adds credibility to your business model. However, I would encourage you to consider the sustainability of the model and how it aligns with ethical business practices.
While recruiting others can lead to quick earnings, it’s important to ensure that the value you’re providing to new members justifies the membership fee and isn’t solely reliant on recruitment. Consider integrating more tangible benefits, such as exclusive events or workshops that foster community engagement and enhance the perceived value of the membership.
Additionally, promoting your initiative through social media is a great start. You might also explore partnerships with local businesses to provide additional perks, as this could enrich the experience for your members and create a more holistic community feel.
Lastly, don’t forget about customer feedback—gathering insights from your current members can provide valuable information to refine your offering and better serve the community. Best of luck as you continue to develop this exciting venture!