Selling online can be quite intimidating when you're first starting out. We've put together this quick guide to explain the basics of what to consider when selling online and how to set up your first subscription to sell.
Plans define the type of subscription you create and allow you to recieve recurring payments through a scheduled billing cycle. A plan will determine the price and frequency at which your customer is billed.
If you are new to selling online, here are a few things to consider before creating your first recurring payment plan.
- One-time fee - One-time fees allow you to add a charge up front with your customers subscriptions. These types of fees are handy for helping cover any costs you might absorb as a part of your service.
- Pricing options - Your pricing, billing frequency, and subscription duration are all important factors to consider when creating a plan. Creating multiple plans with varied options or discounts at longer durations might be better than a one size fits all approach.
- Taxes - In some cases you may be required to pay taxes on the products you sell. If you have questions about tax rates or collecting taxes, please consult with your tax advisor.
The following guide will show you the entire process of selling plans from start to finish.
1Create a plan
Plans can have many configurations for offering features like free trials, registration fees, and per-seat licensing. In this guide we will create a basic plan which utilizes all available features to give you an idea how each one works.
- Go to Plans in your Payify admin.
- Click Add new plan.
- First, enter a Title, Short Description, and any Features you want listed for this Plan.
- Next go to Billing Details and enter a Price, Interval, Period and Subscription Length. The Interval and Period fields determine the billing cycle, or how often the customer is billed, and the Subscription Length is the length of time the subscription will run before it automatically ends. Set this to Unlimited if you want the subscription to run indefinitely.
- To charge a One-time Fee at sign-up, enter a One-time fee amount. If you want this fee charged each time someone upgrades or downgrades to this plan, enable the option Apply to plan changes.
Finally under Tax, enable to option Charge taxes for this plan if you want Payify to apply taxes during checkout.
2Set up taxes
If your local tax laws require you to charge taxes on your products you can set up tax rules which will be applied at checkout.
- Go to Settings > Taxes.
- In the Tax regions section, check any options that apply.
- To set up a tax region in which you have nexus, click Add tax region. This will generally be your physical location as well as any warehouses or suppliers where your products may ship from. For each region, you can add custom tax rates. Check out the section on setting up taxes for a more in-depth look at how to set up tax rates.