As an activity provider, it’s important to consider all of the different payment-billing models available to you. Each model has its advantages and disadvantages, so it’s important to choose the one that best suits your needs. In this blog post, we’ll discuss the five payment models offered by AfterSchool HQ and how they work. We’ll also give you some tips on deciding which model is right for you. So read on to learn more!
Determining how to charge parents for your activity can be a tough decision. There are a lot of factors to consider – such as the cost of the activity, the length of the activity, and the number of participants. Here are five payment-billing models that you should consider for your activity:
1. Registration Fee
This is a one-time fee that covers the full cost of your activity. Parents will pay the registration fee during sign-up for your activity. This is a good option if your activity requires upfront costs, such as equipment or materials.
By collecting all payments upfront for your activity, all potential threats of nonpayment are eliminated.
2. Pay Later
This is an option where participants can sign up for your activity and then pay you later. This is a good option if you trust your participants to pay you and if you don’t need the money upfront to cover the costs of your activity.
Note: Allowing a parent to pay later means a student can register and occupy a seat for your activity without paying. This option is discouraged because it allows an unpaid student to occupy a seat that could have been reserved by a paying student.
3. Registration Payment Plan
With payment plans, parents can make payments towards their registration fee over time in monthly, weekly, or biweekly payments. AfterSchool HQ payment plans make it easier for you and the parents. When parents register for your activity and select the payment plan option, AfterSchool HQ will store the parent’s payment information and automatically charge it according to the schedule you set up.
4. Subscription Plan
If your activity requires ongoing support or if participants will use it continuously, subscription plans are a good option for you. With this model, participants will pay a monthly or weekly fee to participate in your activity. In a subscription plan, AHQ helps the parent enter into an agreement with your organization where they pay a recurring fee of your choice for your activity. Think of it as a monthly or weekly membership to your activity!
5. Attendance-Based Billing
With this option, you only get paid when students participate in your activity. This is a great option if you have a lot of irregular participants. Using attendance-based billing allows you to more easily accommodate part-time or drop-in students, before-or after-school care services, or assess late or early drop-off fees.
We hope this blog post has helped you better understand the different payment models available to activity providers on AfterSchool HQ. Now it’s time to decide which one is right for you!
Keep in mind that each model has its benefits and limitations. Ultimately, the best payment model for you will depend on the type of activity you offer and the needs of your students and parents. If you’re still not sure which model is best for you, we can help. Contact us today at firstname.lastname@example.org and we’ll be happy to discuss your options. Thanks for reading!
Photo by Annie Spratt via Unsplash