Page 46 - MICROHUB Handbook - ENGLISH

Also very relevant for your future revenues planning is your

understanding of:

· how your target customer segments are typically paying (for example,

if by bank cards, leading to a decrease in revenue by the corresponding
card payment processing commission),

· their buying cycles for alternative products (for example, monthly,
quarterly, yearly),

· your estimated acquisition rate of new clients.

Moreover, an understanding of how different revenue models may be

applied to your craft business is also crucial. For example, could you

provide your craft products on subscription or rental models versus

one-off single purchase payments? For example, weekly or monthly

subscriptions for specialty food products, or event-related rental of

unique and high value jewellery, fashion or decorative items. The latter
approach is part of usage-based revenue models that can allow for both

more accessible pricing for customers, and more intensive use of the

life-span of a product (better for the environment).

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