1. What are the fees with using vstudio?
There are are two fees that are charged per payment transaction on vstudio:
- Our platform fee: This is the fee we take to provide you with our seamless all-in-one platform. We have 3 subscription plans and 1 occasional option that best suits your needs. The three subscription options are:
- Lighthearted = $20 USD a month and 3% transaction fee.
- Dedicated = $60 USD a month and 1% transaction fee.
- Abundant = $150 USD a month and no transaction fee.
- You can also Dip Your Toe = 15% transaction fee some features limited.
These fees are automatically deducted from each transaction (your offering price) when one of your customers purchases. The rest will automatically be deposited into the bank account you link to your account every week (from previous weeks transactions) on Friday. Yes, weekly paycheque!
2. Upgrading my plan?
- What If I want to upgrade my plan? You can upgrade anytime - payment will be processed the day you upgrade and that will be your new subscription date. The % will go into effect immediately too. You can upgrade here.
- When should I upgrade my plan? This will depend on a couple factors, here's a few starting points for each plan:
- Upgrade from Dip Your Toe to Lighthearted: For just simply pricing saving; once you are making more than $150 usd/month; upgrading your plan to Lighthearted will save you. However, you can also upgrade if you simply want to make more money through offering class packs or membership, for example. We have found our instructors profit much more through offering class packs and membership than when they just offer drop in options.
- Upgrade from Lighthearted to Dedicated: Once you are in your groove and teaching regularly, the choice to upgrade to Dedicated will simply depend on how much revenue you are making. Both plans have the same features/access. Generally, if you plan to make or are making around $2,000 USD/month then it's time to upgrade to save you money.
- Upgrade from Dedicated to Abundant: We hope everyone can get to a point where you are Abundant. You are consistently making more than $9,000 USD /month then this flat rate will allow you continue building your business and cap the price.
3. Downgrading My Plan?
Not a problem, you can downgrade anytime and you will switch to the new plan immediately. Transaction % will come into effect on as soon as you switch. We prorate billing so you will only be charged on the number of days you were on the plan and not the entire month.
4. Annual Vs Monthly Plan?
- What if I want to switch to annual from monthly plan? You can switch to annual anytime, and we will prorate the dates remaining in your monthly plan. For example, if you have 20 days left (of a 30 day month) in your current cycle at $60/month, there are 10 days remaining that will be deducted from your annual plan. So, it will be the annual plan minus $20 for the 10 days left in your cycle.
- Which is best for you?
- Annual Plan:
- 25% discount on subscription
- As a committed teacher, you will get priority access to new features; your requests will be prioritized; and other ways of ensuring our longterm teachers are supported.
- One payment - great for submitting on taxes than monthly
- Guarantee subscription price - if pricing increases you will be locked in at the previous rate for a year.
- Monthly Plan:
- You only commit for one month at a time - easy to upgrade/downgrade as you like.
- You are still not sure what plan will be best for you yet.
- Annual Plan:
We will not do refunds on any subscription plans. However, you can cancel anytime. For annual, you will be paying up front for the year with the discount (25%) and can cancel or renew at your renewal date in 12 months.
6. Do You Offer Any Additional Discounts?
- You can sign up for an annual plan which is 25% off each monthly subscription rate. Note, you will still have the same monthly transaction fee depending on your plan (see above).
- You can also receive a discount if you become a vstudio ambassador sharing high quality curated content about vstudio. You will need to interviewed and approved to be considered. Email email@example.com with “I want to be an ambassador” in the title.