Introduction
In PerfectGym, you can create different payment plan types perfectly aligned with your business needs. Such payment plan types can vary in length, commitment, payment interval, and payment method.
- This article will help you understand the most common types of Payment plans that are possible to create in the PerfectGym system.
- This article will be helpful to all employees in your club.
Before you start
Read the following description to better understand what a Payment plan is.
What is a Payment plan?
Payment plan is a kind of subscription you offer to your club members. Within such subscription, you can define age limits, price, payment method, contract commitment period and payment intervals. Also, you can decide on charging pro-rata, admin fees, joining fees or deposit fees. With the help of access rules, you can determine when, what time, in which club your members can go to the gym, attend the classes and have personal trainings. Moreover, such information can be found in Reports and Dashboard. Payment plans can also be available in such modules like Client Portal, PerfectGym GO2 mobile application and POSweb.
Feature Description
The most common Payment Plans to create are:
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Upfront Payment Plans (Paid In Full) – these are fixed-time payment plans that are paid upfront in full prior to the start date of the contract. You can define the contract length, i.e. 3, 6, 12, 24-months. It means that you will receive the funds on the contract start date, which can help you limit the number of debtors in the club. Upfront contracts are also attractive to members who do not wish to pay a monthly subscription, or do not want to provide their credit card/bank account details during purchase.
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Upfront Payment Plans with Limited Visits – these memberships are also known as Visit Passes. They are often sold at an upfront rate with a limited number of visits. These types of memberships are dedicated to people wishing to attend a club sporadically or attend only a specific class or training event. Example of this payment plan is 10 Visit Pass for lap lane swimming which may be used within one year.
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Monthly Recurring Payment Plans – these types of memberships are the most popular ones. The fee can be paid weekly, fortnightly, monthly. They usually do not have a fixed end date, but a member cannot cancel the membership before the end of the commitment period. Otherwise, a member will have to pay an Early Termination Fee. This type of membership allows for freezes depending on the specific freeze type. Recurring contracts are attractive for clubs as they bring fixed, measurable cash flow. Many members also find them beneficiary, as they have a known fixed fee to pay for the use of club services.
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Additional – these can be either Upfront or Direct Debit, and require the member to already have a valid active Main contract. Additional payment plans are useful in scenarios where a member pays an additional charge in order to gain access to additional premium classes, facilities, or club services. A fixed-length additional payment plan can also be used for additionals like towel service, water refill or private locker.