We In MYFUNDBOX, you sell subscriptions to your products. You must first create and configure a plans before you can sell anything in your site.
In your app or business, you might call these products your “Plans” or “Feature Levels”. For example, if you have “Basic”, “Pro”, and “Max” plans, each of these would be a separate product within MYFUNDBOX.
Some of the basic parameters of a plans are:
This name describes your plan and will appear on your checkout page and the subscriber's invoice.
This is type of plan which you are creating
A variable-pricing plan is a frequency-based subscription plan that charges customers a fixed amount at a fixed frequency.
A quantity-based pricing plan charges subscribers by the quantity of goods or services to which they subscribed.
Sample use cases:
- A software company charges for the number of software licenses.
- Pet store offers a dog food subscription that charges customers based on the number of bags.
When you set up your subscription plan, you can choose from set price for
Currency which they would like to apply for that plan
When you create a plan, you set the regular period billing cycle duration. A plan’s billing cycle defines the recurring frequency with which the subscriber is charged. For example, a plan with a weekly billing cycle charges the subscriber on a recurring frequency of one week.
You can choose from the following billing cycles:
Billing cycles can continue for a specified period of time, a finite plan, or until the user cancels the subscription, an infinite plan.
It allows customer to edit thier pricing with respect to varialble plan
It allows customer to set minimum price with respect to varaible plan
It allows customer to set maximum price with respect to varaible plan
Steps to Create a Plan
To create a new plan in your MYFUNDBOX , follow these step:
- Click Plans > + Add Plan.
- In the Add New Plan popup, Give your plan name as per your Business need.
- Specify type for a plan, it can be either Variable or Quantity
- If you want your customers to specify their amount within range then it can be possible with Variable
- If plan has items that it needs to be quantity
- Enter the amount for your plan
- Select your currency based on your customer region.
- Select Billing cycle like it can Monthly, One-Off, Quarterly, Half yearly, Annually , Weekly or Daily
- No of billing cycles that specific plan should run, by default it will run continuosly untill the subscription has been cancelled byadmin or subscriber
- Now click save.
We have other 2 options while creating plans
- Step wise pricing
Which we can cover in respective title.