- What are price plans on Nexudus Spaces?
- To price plan or not to price plan? That is the question
- The proof is in the pudding
- Adding a price plan on Nexudus Spaces
- Prorating a price plan
- Managing space access using time passes
- Setting resource rates in price plans
- Setting up products for a price plan
- How can I use Sign-Up Fees (Deposits) on Price Plans?
- Guide to setting up products:
- Price Plans - Field References
What are price plans on Nexudus Spaces?
The price plan feature automatically processes recurrent fees to space members. Price plans always renew automatically. For example, we can set a price plan called "permanent desk" at $200 a month so that it includes the "large meeting room" for 5 hours a month or $20 of credit to be used to book small meeting rooms. On Nexudus Spaces, these aspects are controlled by what we call "resource credits", "time passes" and/or "booking credit". Furthermore, price plans can be renewed as regularly as you wish (weekly, monthly, quarterly, etc.). In the example above, the "permanent desk" price plan would be monthly with a total cost of $200, meaning that it would be renewed every month and an invoice would be raised for the members signed up to it. In addition to the price plan's cost, the platform will include any charges and additional services that the member has used since the last invoice period, for example, if he or she has booked a meeting room or attended an event. Over the years we have worked with hundreds of coworking spaces around the world and realised that each and every one has its own special characteristics. This is why we made setting price plans flexible, so they can be adapted to multiple situations.
Bearing in mind what we have mentioned above, price plans renew automatically. Therefore, if you want to sell a product or service as a one-off, your best option is to use what we call "products".
Price plans don't necessarily have to be linked to "resource credit", "time passes" or "booking credit". This always depends on the model that you've set up in your space. You can choose from several price plan settings, so we recommend that you visit the price plan section for more detailed information about them.
In the first steps section, we explained how to add a basic price plan. Now, we're going to look at the different price plan settings.
To price plan or not to price plan? That is the question
Before you set a price plan, you should plan out and be sure about all the elements that it is going to include. This will make it much easier to set it up on Nexudus Spaces. Before you start adding price plans to your space, ask yourself the following questions:
What type of price plans do I have in the space?
Am I going to include any additional services in the price plans? (for example free hours of meeting room usage, booking credit, print passes, etc.).
Which of these services should be included as price plan elements and which are only descriptive?
Am I going to control access to the space using Check-in/Check-out?
Am I going to prorate fees for members that sign up halfway through the month?
Does the price plan have any special conditions of use?
Will members who are signed up to this price plan be given special discounts?
Am I going to charge new members a deposit?
Answering these questions before you set up your price plan will help you complete the settings. At times, you may find it more advisable to set up the service using a recurrent product.
The proof is in the pudding
The best way to discover the ins and outs of a price plan is by using an example that illustrates each step on the platform. Now, we're going to set up a hypothetical price plan that can often be found in coworking spaces. Here are the details:
This "permanent desk" price plan is going to include the following:
Total price is $300/month
And if we answer the questions above, the price plan's special conditions would be:
Am I going to include any additional services in the price plans?
Yes, 4 hours of free meeting room usage per month, 30 print copies, a locker and postal address.
Which of these services should be included as price plan elements and which are only descriptive?*
Free hours of meeting room usage, 24/7 access and the print copies are managed by Nexudus Spaces and must be configured in the price plan settings.
Locker usage and postal address are simply descriptive.
Am I going to control access to the space using Check-In/Check-Out?
Yes, in this case, we're going to manage how often members use the space by controlling how many times members check in and check out. We will explain all the possible options in later sections. At this stage, you just need to know that we are going to use time passes.
Am I going to prorate fees for members that sign up halfway through the month?
Yes, we are going to prorate fees for members that sign up to this price plan 15 days before the renewal date.
Does the price plan have any special conditions of use?
The conditions of use for the price plan depend on your coworking space's rules, which members must accept on signing up to any given price plan. You can find information about these types of models in the Coworking Wiki
Will members who are signed up to this price plan be given special discounts?
In this case, members signed up to this price plan have four (4) free hours for every invoice period and 50% discount on meeting rooms after the four (4) hours have been used.
Am I going to charge new members a deposit?
For this practice run, we are going to set a deposit at the same amount as the price plan for one month ($300).
* Most spaces usually set up and manage the services that are going to be calculated in price plans. For example, print copies are counted on Nexudus Spaces, while spaces don't usually control how many coffees a member consumes or his or her locker usage.
Adding a price plan on Nexudus Spaces
In the first steps section, you can find out how to set up a basic price plan. We will now explain how to set up our example "permanent desk" price plan, step by step:
Firstly, go to the price plan section via the quick access on the dashboard home page or via Billing > Price Plans.
Then, click on Add Price Plan.
Enter the name of the price plan and fill out the description field with the price plan details.
Next, enter the amount you wish to charge ($300). You only have to specify a tax rate if it is different to the one that your space has set by default via Space Settings > Tax. If you are using accounts to organise your revenue sources on Nexudus Spaces, state with which account this price plan will be associated in this point. Lastly, we're going to leave the Sign Up Fee field blank at the moment.
In this section, we could include the sign up fee of $300 that we stated in the example. This sum would be included in the first invoice that is generated to members that sign up to this price plan, applying the tax rate associated to the price plan. The tax rate for deposits is often different to the rest of the products and services, which is why we set the deposit later, using a product.
The next step is to set up the invoice period as one (1) month, as we decided for this price plan. Select to invoice in "months" and enter "1" in the Invoice Every (months) field. We can set a default day for this price plan. If we do, we will be overwriting the default invoicing day that these members have on their account. For example, if we set the 2nd of each month as the default invoicing day, when someone signs up to the price plan on the 16th, they will be invoiced that same day and the next invoice will be raised on 2nd of the following month.
Additional Invoicing: this section is mainly used when members have quarterly, six-monthly or annual price plans. If you enable this section, the platform raises a monthly invoice for any additional charges to the price plan (i.e. services, products, etc.). In this case, since we are setting up a monthly price plan, we do not need to enable additional invoicing.
In Other - Details we can state the price plan's specific conditions that members must accept when signing up to the price plan via the space website. Since we decided to set 24/7 access in the price plan details, we are going to use time passes to control space access, so we need to enable this option.
Other - Space Website. Enable the Visible option if you want the price plan to appear on the space website. The Display Order field controls the order that the price plans are listed on the space website. If you leave "0" in this field, the order shall be set according to price. The lowest number is shown first (i.e. from 0-100, from top to bottom in the list).
Limits set the specific conditions for the price plans, for example a limited number of hours or check-ins during the invoice period. In this case, our example price plan does not have any limits, so we are going to leave these fields empty.
- Lastly, we need to define the cancellation policy in days for this price plan. By entering "15" in the Cancellation Policy in Days field, those members that request cancellation via the space website when there are fewer than 15 days before the renewal date will receive a notification that states that they should contact a space manager.
- By entering the number of days in the Cancel Member Account after (days) field, the price plan will be cancelled automatically for those members that have pending payments.
- You can also use discounts to offer special conditions to members signed up to the price plan. If we apply a discount percentage in these fields, they will be applied generally to resource rates, time passes and charges that members signed up to this price plan use. Sometimes you can apply discounts more efficiently via the Special Prices tab within Resource Rates. This allows us to manage discounts separately, offering, for example, special prices to members for some price plans to use certain meeting rooms. For the practice price plan, we're going to apply a 50% discount via the resource rate that controls the cost of meeting rooms.
Lastly, click on the Save button located in the top right corner of the screen. You'll now see the price plan that you have just added in the price plan list.
Well done! You've added your first price plan on Nexudus Spaces! Now, we're going to set up the rest of the elements such as managing space access, meeting room privileges or additional products (i.e. those not included in the price plan).
Prorating a price plan
When your space's price plans have a default invoicing date, it's common practice to prorate the first invoice for members that sign up halfway through a billing cycle. For example, if the price plan's invoicing day is the 2nd of each month and a member signs up on the 16th, and you prorate the fees, an invoice will be raised for the remaining days from the 16th until the price plan's next invoicing day (2nd). The next invoice will be raised on the 2nd for the total price plan cost plus the fees or additional services that the member consumed during this period, if necessary. To prorate a price plan:
Access the price plan details you want to modify via Billing > Price Plans.
- You must enter a value in the Default Invoicing Day field so that prorating is applied to the price plan. If not, the invoicing day is configured in line with the member's settings, meaning that it will not be prorated.
When you enter the value, more options will appear. In the Prorate Fees field, enter the number of days before the default invoicing day that prorating will be applied to the price plan. For example, if the default day is the 1st and you enter "20 days" as the prorate value and a member signs up on the 15th of the month, the prorate amount will be applied to the first invoice. However, if the member were to sign up on the 7th, he or she will be charged for the total cost of the price plan because there are still more than 20 days until the invoicing day.
Managing space access using time passes
It may be a good idea to keep control of how your members use your coworking space. With Nexudus Spaces, you can use what we call "time passes" to do just that. They are linked to the "check-in" feature on the platform.
What are time passes?
Time passes assign a price for the "right" to access the space. We must stress that a time pass is not charged based on time. A time pass can restrict access to the space for a specific time frame. On Nexudus Spaces, there are two types: day passes and minute-based passes.
Day passes are valid for a calendar day, from midnight to midnight. A member or contact with a valid time pass can check-in and check-out as often as he or she may like during this day. Minute-based passes include a certain number of minutes and count how long that the member or contact has been in the space. A minute-based pass can be used over the space of several calendar days, provided that the total amount of time in the space does not exceed that included on the pass.
IMPORTANT We must point out that a time pass cannot "physically" restrict access to the space. If you want to control physical access to the space, you may be interested in visiting the section on integrations where you can find out more information about controlling access.
An example of a time pass could be a "Mornings Time Pass", which provides access to the space from 9.00 a.m. until 2.00 p.m., while a minute-based pass may include 100 minutes, which provides access to the space until it runs out. In this section, we are only going to add the time passes that are detailed in the example price plan. If you would like more information about how they work, go to the Time Pass section in help.
One of the example price plan's details is 24/7 access to the space, which means that members signed up to this price plan have unlimited access to the space. To apply this to the price plan settings, you have to assign a 24-hour pass that renews on a daily basis. Now, we shall continue with the following steps:
View the details of the price plan that you just added in Billing > Price Plans.
Within the price plan details, go to Time Passes tab and click on the Add Price Plan Time Pass button.
- Choose "24 hour pass" from the drop-down menu; enter "1" in the Passes Included field and "5. Day" for Pass Renewal Time. As such, the platform will assign the members who are signed up to this price plan a 24-hour pass every day. Lastly, click on Save.
If we go back to the price plan settings, we can check that the time passes have been added correctly.
Setting resource rates in price plans
On Nexudus Spaces, Resource costs are managed with what we call Resource Rates. In this section, we are only going to use them to assign the free hours of meeting room usage included in the example price plan and set the discounts applied for meeting room usage. If you would like more information, go to the Resource Rates section.
To assign the four (4) hours of free meeting room usage to members signed up to this price plan, you must first make sure you have the following elements available in your Nexudus Spaces account:
Resource type: they are used to group together resources that have the same price. In this case, we added one that we called "small meeting rooms".
Resource: we added the "green meeting room".
Resource rate: lastly, we need a resource rate, which assigns a price to the resource type "small meeting rooms", which we added. We'll call it "meeting room usage".
Once you've added these elements, you can go on to assign the four (4) hours of free meeting room usage to members signed up to the price plan and set the discount for any bookings after those hours are used.
View the price plan details in the list via Billing > Price Plans and in the Resource Credits tab, click on the Add Resource Credit button.
Choose the resource rate from the drop-down menu to which you want to assign minutes in the price plan. Enter the time you want to assign (in this case 240 minutes = 4 hours) in Uses Included* and lastly, the select the Service Renewal Time for the minutes that you're assigning. Please note that uses can refer to minutes, credit or number of uses depending on the service that you are setting up. Lastly, click on Save.
- You can view the time that we just set up in the resource credit tab within the price plan.
Applying special prices for meeting room usage
Now, we're going to set a 50% discount to the meeting room rate for bookings made by members signed up to this price plan.
Go to the resource rate that manages the costs of the green meeting room in the list Billing > Resource Rates.
In the Special Prices tab, click on the Add Resource Special Price button.
The special price for the selected resource will be the one that we are editing. Choose the price plan that will include the special price from the drop-down menu and enter the amount. Lastly, click on the Save button.
IMPORTANT The special price is a monetary value, not a percentage in discount for the resource price. For example, members signed up to the example price plan have 50% discount on meeting rooms. The room that we have set up costs $20/hour, meaning that you need to set the special price at $10/hour for these members.
Bear in mind that if you want to offer special prices for different price plans, you must create a special price for each price plan, using the same process that we have just looked at. Furthermore, you can use the maximum price field if you want to limit the maximum price that members signed up to this price plan are charged when booking the resource in question.
Check that the special price has been added correctly in the resource rate details.
Setting up products for a price plan
You should use Products when you want to offer certain goods or services in your space that members can buy in addition to their price plan or if you do not necessarily want them to be automatically renewed by default. Now, we are going to focus on setting up a product for the example price plan that we are adding. If you would like more information, go to the Product section, in the Nexudus Spaces help.
The example price plan we are adding includes 30 b/w print copies. Although you can link a printing management software (Ezeep), which we will explain in more detail later, we are going to add a simple product, which we will assign to the price plan. In this case, the member would be charged for the product, although printing control would not be automated. You can automate printing with a software, such as Ezeep, and synchronise billing the print copies in your Nexudus Spaces account. We presume that you've already added the simple product 30 b/w print copies. Now we're going to assign it to the example price plan:
View the price plan details via the list Billing > Price Plans. In the Products tab, click on the Add Price Plan Product button.
- Then, choose the price plan and the product that you want to add and click on Save.
IMPORTANT When you're adding a product to a price plan, bear in mind that the product price is added to the cost of the price plan. The product will be billed every time the price plan renews. If you would like to sell products to members as a one-off, go to the Product section on the Knowledge Base for more details.
Summing up how to set up an example price plan
Well done! We've now finished setting up the main elements of a price plan. We're going to run through everything again to make sure that we haven't left anything out. The table below shows the elements that we've set up. As we've mentioned before, you should explain services like locker usage, tea, coffee and Wi-Fi connection in the price plan description but their usage is not managed via Nexudus Spaces.
Tea, coffee and lots of fun!
Total price is $300 / month
In summary, we are going to manage access to the space using time passes and the free hours for meeting room usage via resource rates. We will apply discounts for meeting room bookings for members signed up to this price plan using special prices. Lastly, we will use products to include the print copies on the price plan.
This guide shows you how to set up the main price plan elements. You can find more information on each of these elements in this knowledge base. In the next section, we will show you how to use contracts to manage price plans.
How can I use Sign-Up Fees (Deposits) on Price Plans?
Some coworking spaces may make members pay a refundable deposit when they sign up to a price plan. There are different ways that you can include this deposit on Nexudus Spaces. We're going to show you all of the possibilities below:
- Using the Sign-Up Fee field: When you add or edit a price plan, you can set a deposit value, which will be included on the first invoice raised for members than sign up to the price plan. However, this is not the most recommendable option. One reason is because taxes are not usually applied to deposits, and if you use the Sign-Up Fee field, they will be added. The next reason is that using a deposit Product, you can have better control over your finance reports about deposits.
If you want to use the Sign-Up Fee on Price Plans, enter the value when adding or editing a price plan.
- When you add a Price Plan via Billing > Price Plans > Add Price Plan, fill in the Sign-Up Fee field.
- When you edit a Price Plan via Billing > Price Plans > View this record's details, fill in the Sign-Up Fee field.
- Using a product to assign a deposit: You can use Products to add a deposit and assign it to a Price Plan. This will add the product to the first invoice raised for the member. These products will be included on the finance reports on your Nexudus Spaces account. You'll be able to see how much of your income corresponds to these deposits in accordance with the number of products that you've sold and haven't been refunded.
Follow these steps to add a deposit product:
- Go to Billing >Products and click on the Add Product button.
- Fill in all the required fields: In the Tax Rate field, select the tax rate that you want to apply if it is different to the coworking space's general tax. Select if the product is a one-off or recurring purchase in the Available As field. Deposits are usually charged for once.
Guide to setting up products:
General - Details
|Business*||Select the space name that will be linked to this product from the drop-down menu. If you manage several spaces with Nexudus Spaces, choose the one you want to link to this product from the drop-down menu.|
|Name *||Enter the name you want to give the product. For example, catering, locker, company registration service, etc.|
|Description||Enter the product details. This information will be displayed on the space website when the product is set as "visible".|
|Tags||Tags help you organise the products that feature on the space website. By adding tags, you'll create tabs in a product submenu on your space website. For example, you can have a tag called "Virtual Services" which groups together all of these products, such as Fiscal/corporate address, dedicated broadband, etc. This will make it a lot easier for users to find the product they are looking for on your space website.|
|Visible *||Enable this option if you want the product to be visible on your account's space website .|
|Display Order *||Set the order that the product is displayed on the space website. The lowest number appears first. If you leave this field blank, the products will be listed in order of price.|
General - Prices
|Unit Price *|
Enter the price that you want to give this product. Remember that the product's price is the amount that the member or contact will be charged, not the price of the items that could be included in said product (time passes, resource credit, etc.).
|Currency *||Choose the currency of the product. It must be the same as the default currency that you are using in the space.|
|Tax Rate *||This field is for the tax rate that is applied to the product when it is invoiced. In general, you should not fill in this field if the tax rate is set by default to the space account. You can edit the general tax rate by going to Space Settings > Billing > Tax. Sometimes the tax rate may be different for certain products. All you have to do is add a tax rate with the applicable percentage and select it when you set up the product.|
- General - Availability
|Available as||Products can be set up so that they can be a one-off or recurrent purchase, or both options. In this field, you must specify if the product that you are setting up will be available as a single or recurrent purchase, or both.|
|Only available for||Products can be set up so that they can only be purchased by members who are signed up to certain price plans. If you would like to limit the product to members signed up to certain price plans, choose said price plans from the drop-down list.|
After you've added the product, you will want to assign it to a Price Plan To do so, view the Price Plan's details, via Billing > Price Plans.
In the Sign-Up Fees tab click on the Add Sign-Up Product button.
- Select the Product that you just added in the Product field and click on Save to complete the process. You'll now see it on the Sign-Up fees list.
- When someone signs up to the Price Plan that is linked to this deposit, it will be included on the first invoice raised for the member.
Price Plans - Field References
General - Details
Enter the space name that will be linked to this price plan. If you manage several spaces with Nexudus Spaces, choose the one you want to link to this price plan from the drop-down menu.
Enter the price plan name in this field. It's a good idea to give the price plan a descriptive name so that members/users know what the price plan offers. Here are some examples ("Permanent desk" "Flexible desk - mornings" "Monthly price plan 20 hours").
Add details about the price plan that you are setting up in this field. This description will be displayed on the space website when the price plan is set as "visible". You can list all the services that the price plan includes (e.g.: 5 hours in large meeting room, locker, Wi-Fi, tea and coffee, etc.). You can add text, images, links and format the text using the editor.
|Sign Up fee|
Sometimes spaces have sign up fees for different price plans. Enter the sign up fee in this field and Nexudus Spaces will include it on the first invoice that is automatically sent to the members that sign up to this price plan.
The amount entered in this field will be invoiced to the members that sign up to this price plan every time the invoice period comes round. You can modify this amount at any time if your space prices were to change for any given reason.
Enter a currency for your price plan. You don't normally have to modify this field because when you signed up you already chose your space's currency by default. If you ever decide to change the currency, you can do so by going to System > Space > View this record's details > Settings > Currency.
By default, there is a general tax rate that can be enabled/disabled/edited. Go to Space Settings > Billing > Tax.
This field lets you group different revenue sources together and obtain reports that can be exported in Excel format and used in other programs.
- General - Renewal
|Trial Period||This field sets the number of days to wait before raising the member's first invoice.|
This field controls how often the price plan is renewed, which can be weekly, monthly, or quarterly.
Invoice Every (months)*
Enter the invoice period. Choose the number of weeks or months that the price plan will be renewed (in accordance with the value entered in the invoice period field). The price plan feature raises an invoice on the default invoicing day set for the member on his or her account, which coincides with the day that he or she signed-up to Nexudus Spaces.
Default Invoicing Day
When a default invoicing day is stated for the price plan, it replaces the day that the member had configured on his or her Nexudus Spaces account.
If you have set a default invoicing day, you can choose to prorate the first invoice, depending on the number of days between the member signing up and the next billing day. This field allows you to set the maximum number of days between these two dates before the full price plan is charged on the first invoice. For example, if you enter "30", any member that signs up on any day of the month will receive a prorated invoice as their first invoice. If you enter "10", only those that sign up during the last 10 days of the invoicing period (10 days or less before the next billing day) will be charged on a prorate basis for their first invoice. If any member were to sign up on any other day, he or she will pay the full quota.
|Charge and Extend||This field allows you to indicate how many days are considered free when a member signs up very close to the billing day. For example, if you were to enter "3", any member that signs up three days or less before the billing day will receive an invoice for the price plan's total amount. The second invoice will not be raised in three days' time (i.e. on the billing day) but on the next billing day. For example, if the billing day is on 1st and Charge and Extend is set as 3rd, anyone that registers on 28th September receives an invoice on that day for the price plan's total amount and their second invoice would not be raised until 1st November instead of 1st October.|
- Time Passes
Time passes are used to manage access to the space. Enable this option if you want to use time passes for this price plan to control access to the space during a given time. To find out more about this, go to the Time Passes section on the Nexudus Spaces Knowledge Base.
- General - Additional Invoicing
Auto Raise Invoices
In addition to the price plan's normal invoice period, you can automatically raise invoices every given number of months. These invoices only include the price plan's additional charges. This feature is very useful for quarterly, six-monthly or annual price plans when you want to raise an invoice for the bookings and products that a member has used every month, instead of saving these fees until the next price-plan renewal period.
|Auto-Invoice Period||You can choose the interval as Monthly/Weekly|
Raise Invoice Every (months)
Enter the number of months that automatic invoices are raised for additional charges.
|Terms and Conditions|
In this section you can include the general terms and conditions for this price plan. Members must accept these terms and conditions when they sign up via the space website.
|Contract Document (PDF)||You can upload a pdf document|
Enable this option if you want the price plan to be visible on your space website.
This field sets the order that the price plans are listed on the space website. If you leave "0" in this field, the order shall be set according to price. The lowest number is shown first (i.e. from 0-100, from top to bottom in the list).
You can group together price plans to show them together on your space's website. Enter the name you want to give this price-plan group.
- Límits - Details
Nexudus Spaces lets you set time limits on each price plan so that you can have greater control of their usage. All of these limits are linked to "Time Passes" and space "Check-In". For more information, go to the relevant help section.
Check-In Price Plan Limit
Maximum number of check-ins allowed during the price plan renewal period.
Check-In Monthly Limit
Maximum number of check-ins during a calendar month.
Check-In Week Limit
Maximum number of check-ins during a calendar week.
Hours Price Plan Limit
Maximum number of hours allowed during the price plan renewal period.
Hours Month Limit
Maximum number of hours allowed during each month.
Hours Week Limit
Maximum number of hours allowed during each week.
Maximum number of members that can sign up to this price plan at the same time.
Limits - Cancellation
Cancellation Policy in Days
Members shall not be able to change or cancel their price plan if its renewal is in less than this number of days. For example, if the default invoicing day is on the 1st of each month and we enter "15" in this field and a member were to try to cancel his or her price plan from the space website on the 18th of the month, he or she will receive a message stating that he or she must contact a space manager.
Cancel Member Account after (days)
This field automatically cancels accounts belonging to members that have a payment pending. Remember that members receive notifications when they have payments pending. You can also set how often they are sent by going to Space Settings > Payments.
Discount on Bookings
If you want to apply a discount to all of the resource rates for members signed up to this price plan, enter the discount percentage in this field. Also remember that you can use the Special Prices to assign discounts separately by price plan and resource rate. To find out more about these settings, go to the Resource Rates section.
Discount on Check-Ins
Percentage of discount applied to members of this price plan when they use a time pass that is not included in their price plan. Also remember you can use Special Prices for time passes to assign discounts separately by price plan. To find out more about these settings, go to the Time Passes section.
Discount on Charges
The percentage of discount on charges applied to members that have this price plan.