What is a price?
A price is the amount of money you charge for your product or service. When you create a product you must add pricing information.
Prices are attributed a frequency. You can price your product or service by selecting one of the following:
- One time
- Recurring plan
What price frequency should I choose?
Your price frequency is depending on the type of product you create. If you create a stand alone product, choose one time. If you have a product or service that requires a subscription model choose recurring plan.
By choosing recurring plan, you can set the price as well as the billing period in which your customer gets charged. You can choose from the following:
- Weekly
- Biweekly
- Monthly
- Annually
If you sell the same product at different subscription intervals, we recommend creating multiple recurring prices for the same product.
Because a product can have multiple prices associated with it, you’ll need to select which price to use when creating checkout links, invoices, or subscriptions if you want to sell a specific product price to the customer.
You must always select at least one price when creating a product
How do I select my pricing model?
Pricing models reflect your business revenue model. Zūm Rails offers 2 pricing models:
- Standard pricing: This means you charge the same price for each unit every time
- Package pricing: This means you charge by package (group of units)
Package pricing is automatically rounded up. This means, for example, if you charge $15.00 CAD for every 5 units purchased, a customer who purchases 8 units will pay $30.00 CAD.