In order to set up recurring subscriptions for individual clients, group memberships, and packages, you will need to create a Stripe subscription plan.
Here's how to create a new Stripe plan, starting from the Account page of your Dashboard:
1. Click the "Stripe" option in the left side menu of your "Account" tab.
2. Click the "Create New Subscription Plan" button.
3. Fill out your plan specifications, and click "Save" to create the plan.
Each field is explained below:
- Name: Enter the title of the subscription -- Example: $40 per Month Plan
- Plan ID (Optional): Enter a custom ID for the plan in Stripe -- spaces are NOT allowed. We recommend leaving this one blank so the Plan ID can be auto-generated.
- Amount: Choose the currency and how much to charge at each billing cycle.
- Interval: Set up how often you will charge the client be entering the number and time interval (days, weeks, months, years).
- Trial Period (Optional): Enter the number of days to offer a free trial period when someone signs up for this subscription.
- Statement Descriptor (Optional): Customize how the charge will display on Bank Statements-- Example: Exercise.com Monthly Subscription
- Billing Cycle Anchor (Optional): This allows you to bill only on specific days of the week or month. If someone signs up on a different date, they will be charged a pro-rated amount on that day, then the full amount on the designated billing date.
- End Subscription After (Optional): This allows you to collect a set number of payments before cancelling the subscription automatically.
4. Click the "Save" button to save your new plan.
Now you can plug your new Stripe plan into any membership you want to offer on your platform!