Payments: the money a client pays for online coaching services.
Payout: the money a coach receives for providing their coaching service.
Payments are collected once a month at the beginning of a billing cycle. For example if a client purchases a subscription plan on the 3rd of August, he or she will be billed the 3rd of every month, until the subscription plan is cancelled.
Payouts take place once a week where the money collected from the previous week will be paid out. After we release the payout, it takes some additional time for the money to arrive depending on your payment processor. Average processing time per payout method:
• Bank transfer / International wire: 3 to 7 business days
• PayPal: Within a few hours
Many banking systems don't process transactions on weekends or holidays. Therefore, a payout released between Friday and Sunday might not be processed until Monday, and your payout might not be reflected in your account until Wednesday. It’s also possible for a processor to experience technical issues or other extenuating circumstances that could cause your payout to take longer than usual to arrive.
You can see an overview of all collections made on your behalf in your payment history.
The coach service charges - and if applicable added value taxes over these fees - are subtracted from payout amount / the amount paid by your clients.
If the client cancels mid-way through the billing cycle, they will not get refunded for the remainder of the month, therefore they should still be coached till the end of their billing cycle. There are no commitments beyond that.
Free trial period policy
New Fitmo users, looking to be coached, will get a one-time free trial period. During this period they can connect with any of the coaches listed in the marketplace. When the trial ends the client can simply purchase one of the subscription plans and continue being coached by you. This is your opportunity to show off your stuff and convert them into paying clients or even up sell your 1:1 services.