As discussed in the last blog, Illustrated Faith is an influencer created brand that makes crafting supplies for Bible Journaling as well as other products. To read more about the company Illustrated Faith, as well as their influencer marketing, please take a look at last week’s blog.
Illustrated Faith’s Business Model is business an eCommerce, business to customer model. Illustrated Faith’s brand of products can be bought off of Dayspring.Com’s website primarily. The products offered on the website are mainly crafting supplies, but also branding items like tote bags, mugs, etc. Illustrated Faith’s products but also be bought at various crafting or Christian stores. I have seen them in person at Wal-Mart, Lifeway Christian Stores, and other types of craft supply stores. Therefore, they also use the Wholesaling and Warehousing model, and must therefore operate on a somewhat business to business model as well.
This business model has likely been profitable, because often these crafting supplies can be fairly cheap to create. Many of them are stickers or paper cutouts, which are very cheap to produce. The main cost here would be designing and distribution of these products. Since Illustrated Faith doesn’t have to sell these types of products on their own website (though they do sell some digital products and in person experiences on their site), it seems the overhead costs are taken on by the other companies that they work with including Dayspring, Wal-Mart, and all of the other stores and websites that sell their products.
I definitely think that Illustrated Faith made the right choice when they decided to allow other companies to distribute and produce their physical crafting products. These companies already had the supply chain in place, and also they likely increased the visibility of the brand and their products to people who might not necessarily encounter Illustrated Faith’s brand online.
Consider for a moment what Illustrated Faith’s brand would look like if they chose the subscription model instead. The brand does sometimes create a monthly box with different themes which could be treated like a subscription. Yet, they do not offer a subscription option-- the consumer needs to log in and order the box each month. If Illustrated Faith had created a subscription model type of business, they might have had to create their own supply chain. But, the subscription model does have a good success as well as a fairly large profit margin for lower cost subscriptions.
Illustrated Faith’s Business Model
Illustrated Faith’s Business Model is business an eCommerce, business to customer model. Illustrated Faith’s brand of products can be bought off of Dayspring.Com’s website primarily. The products offered on the website are mainly crafting supplies, but also branding items like tote bags, mugs, etc. Illustrated Faith’s products but also be bought at various crafting or Christian stores. I have seen them in person at Wal-Mart, Lifeway Christian Stores, and other types of craft supply stores. Therefore, they also use the Wholesaling and Warehousing model, and must therefore operate on a somewhat business to business model as well.
Is it profitable?
This business model has likely been profitable, because often these crafting supplies can be fairly cheap to create. Many of them are stickers or paper cutouts, which are very cheap to produce. The main cost here would be designing and distribution of these products. Since Illustrated Faith doesn’t have to sell these types of products on their own website (though they do sell some digital products and in person experiences on their site), it seems the overhead costs are taken on by the other companies that they work with including Dayspring, Wal-Mart, and all of the other stores and websites that sell their products.
The right choice?
I definitely think that Illustrated Faith made the right choice when they decided to allow other companies to distribute and produce their physical crafting products. These companies already had the supply chain in place, and also they likely increased the visibility of the brand and their products to people who might not necessarily encounter Illustrated Faith’s brand online.
Subscription Model
Consider for a moment what Illustrated Faith’s brand would look like if they chose the subscription model instead. The brand does sometimes create a monthly box with different themes which could be treated like a subscription. Yet, they do not offer a subscription option-- the consumer needs to log in and order the box each month. If Illustrated Faith had created a subscription model type of business, they might have had to create their own supply chain. But, the subscription model does have a good success as well as a fairly large profit margin for lower cost subscriptions.
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