What I Learned After a Year on Substack

Metrics, lessons, and what comes next.

In September 2022, I had a fatherhood newsletter with around 3,000 subscribers powered by a WordPress site and connected to Mailchimp. But I had grown disillusioned with that solution. Mailchimp, in particular, had become too expensive for what I used it for. I made no direct revenue from the newsletter and Mailchimp’s cost structure doesn’t make sense for smaller creators.

So, I started this Substack in September 2022 to test the platform. Here, I could post content that didn’t belong in my fatherhood newsletter but was still adjacent and related.

I set up subscriptions on a whim because Substack makes it so easy, and I shared it with my Foundation Father readers. I didn’t promise anything extra, nor did I intend to provide anything extra.

Out the gate, people signed up for paid subscriptions.

I was stunned. Frankly, I still am.

After a few months, I considered the test a success and moved the Foundation Father newsletter to its own Substack. Again, I opened paid subscriptions, and again, people started giving me money. Overnight, I went from paying money to run my newsletter to making a profit from my newsletter.

A titanic shift, even though the actual amount was small.

If you are building an audience online, a newsletter is not optional. You must collect email addresses. It is a necessity you must reckon with and, until relatively recently, pay for. With Substack, you can do it for free without much effort, and you might even make some extra lunch money.

The synergy of having both publications on Substack also became apparent. Due to the recommendation engine, 20-30% of the people who sign up at Foundation Father also sign up for mafranklin.com. This cross-pollination was an unexpected but welcome benefit.

Metrics in Review

M.A. Franklin subscribers: 1,682
Foundation Father subscribers: 5,533

M.A. Franklin paid subscribers: 12
Foundation Father paid subscribers: 140

M.A. Franklin average open rate: 43%
Foundation Father average open rate: 42%

Total revenue per year: ~$10,000

Lessons and Retrospective

I’m bullish on Substack as a platform, and that’s before I’ve touched on the podcasting capabilities and other features.

It’s hard to make a living as a writer, but Substack makes it a little bit easier. The fact you can grow a newsletter for free, no matter the number of subscribers, is insane, and it makes me wonder how long it will last.

$10,000 per year is a nice side income, but you can’t support a family on it. However, it’s the most reliable online income I’ve ever had in my life, and I’ve dabbled in just about every type of online venture you can think of.

And if I get 900 more subscribers, a full-time income would be visible on the horizon.

Most of my new subscribers come through Twitter/X. People criticize “chasing the algorithm” or trying to write viral content. “Likes ain’t cash,” they say. I understand the point, but for me, a viral thread or post puts money directly into my pocket.

10,000 likes on a viral post get me about 500 newsletter subscribers, and at least 10 of those become paid subscribers immediately. Every viral post puts about $600 in my pocket, and that doesn’t take into account the longer-term revenue for those who stick around. Not bad for something I do for fun.

Keep in mind, however, that this is running on the momentum of three years after making almost nothing. I’ve done a lot of digging. I’ve planted a lot of seeds. I’m happy to be able to enjoy some fruit.

I can’t not write, so I might as well get paid for it if people think my writing is worth it. To those who pay to read what I write, you have my gratitude. I hope you stick around because I’m not going anywhere, and I’d rather not do this alone. I’ve got more fiction coming, more book reviews, and more essays—maybe even some more short stories.

Thank you.