What is Flat Fee Pricing?
Flat fee pricing is a simple and popular charge model that can be used to price subscription-based products and services.
As the name implies this charge sets the price of a singular product/service or a bundle of products/services at one fixed flat rate. This model can be utilized for both one-time and recurring charge types.
How to Create Flat Fee Plans inside SubscriptionFlow
1. To set up flat fee pricing, navigate to the Product module.
2. After clicking on 'Product,' you will be redirected to another page that contains your product catalog.
3. Select which product you wish to create a plan for. Let's create a weekly subscription plan for the NutriMeal product to demonstrate.
4. Click on ‘Create Plan’ at the top right of the product summary.
5. After clicking on 'Create a Plan,' you will be redirected to another page that contains the Plan Information.
6. Next, add a Plan Name and Plan Description.
7. Next, click on the Recurring Charge type.
8. Next, select ‘Flat Fee’ as your pricing model.
9. Then choose the billing frequency for the recurring charge and click the ‘Next’ button.
10. Add a ‘Pricing Title’ and ‘List Price’ for the plan. The pricing title is useful when you have multiple charges associated with a single plan for example a one-time registration and a recurring membership charge. The list price is the actual value assigned to the flat rate at which your products are priced for example I can set the list price of a jewelry subscription box to 50 USD.
11. Next, check the taxable box if applicable and save the pricing configuration.
12. Next, select the ‘Tax mode’ i.e. whether your list price is Tax Inclusive or Tax Exclusive.
13. Finally, select the ‘Tax Code’ ie GST, VAT, Demo Tax, VAT Demo, etc. This will be a predefined tax rate which will be applied at checkout based on your region-specific requirements. Learn how to manage your taxes in this guide.
14. For this guide, we have selected ‘GST’ as our ‘Tax Code.’
15. Once you have entered all of the details, click on the ‘Save’ button
16. Review your pricing summary. Use the cross button to delete any pricing configuration you wish to remove. The “+ Add Pricing” button gives you the option to add another pricing configuration to the same plan. This is useful when you want multiple different charges associated with a plan. For example, when you are selling a coffee plan that has both a one-time machine purchase and a recurring monthly coffee bean subscription.
17. After reviewing the pricing summary, you can click on the 'Save Plan' button located in the right-hand corner of the screen.
18. A green pop-up notification will appear at the top right-hand corner of the screen, indicating that the pricing plan has been saved successfully.
19. You can now navigate back to your Dashboard. The newly created plan with its pricing configuration is now visible under your original NutriMeal product.
And that is how you create a plan using the flat fee pricing model.
Comments
0 comments
Please sign in to leave a comment.