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It’s no secret that customers want more. From the moment they enter into your shop to when they make a purchase, creating a smooth, simple journey that offers everything they came for (and a little extra) ensures they have a positive experience. Not only that, but it may entice them to become loyal, return customers.
According to the Square 2025 Future of Commerce report, roughly three-quarters of Australian business leaders either plan to offer new supplemental products or services outside or agree that expanded offerings are key to growing their business. And with this trend of diversifying revenue streams gaining momentum, now might be the perfect time to think about expanding your selling potential.
Here are five practical ways you can bring in extra revenue and keep your business flexible and thriving.
1. Subscriptions
Square data shows that 76% of Aussie business leaders believe subscriptions provide a good return on investment, with 31% already offering them to encourage customers to return to their business. Consumers are keen on them too: nearly one in five said they’d sign up for a beauty membership or club, while 11% love the idea of a subscription box from a local restaurant.
Subscriptions can be a great way to boost sales for all kinds of businesses, and there are plenty of creative ideas to make them work. If you run a retail business, you could offer monthly mystery boxes, exclusive early access to new products, or ‘subscribe and save’ deals on everyday essentials. Restaurants might offer a VIP dining club with perks like priority bookings, chef’s specials or a ‘meal of the month’ takeaway option. And if you’re in beauty, think curated self-care kits, salon memberships for regular treatments or seasonal skincare bundles to keep clients engaged year-round.
Giving customers the option to sign up for recurring products and services locks in future sales and provides a smoother shopping experience, making subscriptions a potential revenue driver for businesses. Offering subscriptions also makes it easier to plan ahead in terms of inventory. Square Subscriptions tracks the number of subscribers and manages it against inventory levels so that you can prepare for the months to come and never leave your customers hanging.
2. Mixed products and services
Who says you have to stick to just one thing? Combining services, products and experiences can help you attract new customers while keeping regulars around for longer.
According to Square data, 44% of Australian customers bought retail products like shampoos or cleansers from a salon or spa in the past year, with 41% frequently or occasionally picking up a product recommended by their beauty specialist. And 52% of customers bought retail items from restaurants, with popular choices including pre-packaged meals or beverages, kitchen supplies like cookware, clothing and even books.
Take MADE on the Gold Coast, for example; it’s a barber, cafe and retail shop all in one. Customers stop by after a beach swim or to get some work done at the large communal table, using the range of services on offer.
They come daily for coffee and then when the time’s right for a haircut, they’ll come and do that as well.”
Josh Blair → co-owner of MADE
Consider the opportunities available to expand your business. A traditional retail store could add a cafe, while a fitness studio might serve protein snacks. If you run a spa or salon, think about selling beauty products, providing relaxing tea or other new revenue opportunities. Regardless of the route you take, be sure to have the necessary permits and tools to make your new revenue stream a success.
3. Events and classes
Offering events and classes doesn’t just bring in extra cash; it also gives your brand a whole new vibe. For customers looking for something different to do, this gives them an opportunity to interact with your business in a fun and unique way. On the flip side, customers who are looking for an opportunity to learn a new skill can be introduced to your brand and potentially converted into regulars.
Around a third of Australian business leaders (38% of beauty sellers, 33% of restaurateurs and 32% of retailers) are tapping into events to keep customers coming back. Marrickville’s Sauce Brewing Co mixes it up with events like sake and beer tastings, bingo and trivia nights, live music shows and Oktoberfest week – all helping to draw in crowds again and again.
When planning your next (or first) event, think about what your customers love and what matters most to your brand. It’s also important to think about the season and what’s relevant in your industry. Here are a few ideas you could explore:
- Beauty: Host a ‘self-care Sunday’ with mini facials, skincare workshops or makeup masterclasses. Or team up with a wellness coach for a beauty and mindfulness session.
- Retail: Try a personal styling night, a hands-on DIY accessory-making workshop or a ‘sip and shop’ evening with exclusive discounts.
- Food and beverage: Offer a cocktail-making class, a themed tasting event or a hands-on cooking session with your chef. Check out more restaurant event ideas and tips.
Tools like Square Feedback can help you gauge what customers would like to see from your store, and apps like SimpleTix from the Square App Marketplace can help you plan, promote and monetise your event.
4. Branded product lines
For some businesses, diversifying revenue streams means leaning into their secret sauce – literally. Whether you’re a restaurant with a crowd-favourite spice blend or a salon with a one-of-a-kind serum, packaging your unique products for sale is another way to keep customers engaged with your brand after they leave your store. It also works as a word-of-mouth marketing tool. Picture this: a customer loving your branded product so much that they can’t wait to tell a friend about it. Now, they’re curious and heading straight to your shop or website to find out more.
Branded merchandise is especially gaining traction in the food and beverage space, with 32% of Australian restaurant leaders planning to offer merch in the next 12 months as a way to expand their businesses. Lox In A Box in Sydney seized this opportunity when customers showed interest in their team apparel. “We started with branded t-shirts for our staff and then customers wanted to buy them,” shared co-owner Candy Berger.
So we did a run of shirts, the Lox In A Box hat, and Sox In A Box because we thought that was fun! It sold pretty well.”
Candy Berger → co-owner of Lox in A Box
Thinking about selling branded merch but don’t want to risk unsold stock? Printful integrates seamlessly with your Square Online store, letting you design and sell custom merch like shirts, hats, bags and home decor, with no upfront costs. When a customer pays for a merch item on your website, the order is automatically sent to Printful, who handles everything from printing to packing and shipping. It’s a simple, creative approach to growing your business your way.
5. Catering
For restaurants looking to ease into a new revenue stream, catering is an obvious choice. Instead of reinventing the wheel, it allows you to keep doing what you do best while reaching more people outside your shop. Among Aussie restaurant leaders offering catering, 72% told Square that catering orders have increased in the last year. Plus, 31% have recently launched catering services, and another 23% are planning to introduce it soon.
While this option may seem easier at first glance, it’s important to still approach it strategically. Be sure to build your menu appropriately, keeping in mind labour costs and necessary shifts in supplier management, and prepare to accept payments a little differently. Square Invoices can help you send invoices, collect payments and organise your transaction history with ease, leaving you more time to focus on managing and growing your catering options.
Regardless of the way you choose to diversify your revenue streams, remember to keep your overall business goals and customer preferences in mind. Approaching diversification properly can have a considerable impact on future growth and set your shop up for long-term success. With Square’s suite of connected tools, you can grow at your own pace.
