If you are an entrepreneur or content creator looking for a way to transform knowledge into income, Teachable is the platform for you.
Teachable is a learning management system (LMS) founded by Angkur Nagpal as a side project. It was previously known as Fedora. Nagpal, a course builder himself, grew frustrated over the lack of direct access to students some platforms had. He decided to create his online learning platform with characteristics that he envisioned his courses and students would enjoy.
In 2020, sources say that Hotsmart acquired Teachable for approximately $250M.
Before you continue, you may want to watch this video by Robert C. Brown on YouTube that gives a quick overview. Afterward, you’ll want to read the rest of the article for a more comprehensive review.
In A Nutshell Teachable Payment Processing
Teachable allows one to make and sell online courses and coaching with videos, quizzes, and lectures. It’s a simple and intuitive interface which makes it an outstanding platform for beginners. It deals with your sales tracking, payment collections, and affiliates commissions. So, you don’t need to have a virtual assistant or team member to do it. Instead, you can focus more on course construction.
Who Uses Teachable?
We can’t deny that we would like to take a slice from the ever-growing demand from the fast and booming industry of online learning.
It’s ideal for entrepreneurs, founders, and small business owners that wish to create online courses into a potentially lucrative business. Teachable is used by individuals like Pat Flynn of Smart Passive Income to sell their courses to students.
You also have enterprises such as The New York Times, Shopify, and Penn Law.
As of this moment, more than 100,000 founders sold over $1 billion in classes and coaching for students all over the world.
Here are some of the features I enjoyed in Teachable:
Ease of Use
Teachable’s best feature is being less of a tech headache and more of being your partner-in-arms to a business.
As mentioned earlier, Teachable prides itself on its ease of use. Tech beginners will find it easy to go around and operate the program.
The dashboard is the first thing a user would see after registering on the site. There you will see headers such as users, sites, sales, emails, and classes. It’s pretty straightforward. Uploading files, reviewing analytics, issuing refunds, and communicating with students becomes easier for the user.
Teachable’s list of partners is pretty extensive making it possible to incorporate as many tools as you need. You will also find that you can easily create multimedia lectures, videos, homepage, and landing pages using their power editor.
Teachable offers a large choice of themes for your online course website which you can select to create an attractive landing page. All you’ve got to do is upload the logos, text, images and select color schemes to fit your business’ branding.
You have the option of inserting custom CSS or HTML to the Code Snippets Area if you’re an advanced user.
Marketing, Student Tracking Tools, and Analytics Capabilities
When you are trying to analyze your path sales, Teachables has all the necessary and essential sales tracking and analytics tools that you would need. You can see how well your classes have performed in specific phases.
You can provide your pupils discounts should they choose to buy another course when you get access to advanced sales features like one-click upsells and bundles from availing higher plans. It’s a good way of increasing conversions.
You can check student enrollment and engagement in regards to student tracking. You will receive reports on how your students interact with your courses, their completion rates, and where the students get stuck.
You don’t need to worry about monitoring sales and student insights with their comprehensive dashboards. Teachable deals with tech and promotion for you.
You would need a Pro or Business Plan to get this feature. The course will award the certificates upon completion (Admin > Courses > Course > Certificates). There are templates available. Teachable will automatically insert your school name, student’s name, and title of the program. You may change elements of your certificate like logo, color scheme, and preset pictures. But, you may also create one yourself using the block editor (rich text and Liquid/HTML blocks).
You do not have to find a 3rd party for payment processing as Teachable comes with its own refundable payment processing via Teachable Payments.
You can choose your payment money from a broad assortment of choices. You may also create coupons and discount codes for students and affiliate codes. Teachable will manage affiliate payouts automatically.
Teachable has options like Stripe and PayPal and advanced payment options like Visa and Mastercard.
Your pupils can pay by credit card, debit card, PayPal, Apple Pay, and Google Pay. You also have the option of charging your courses as one-time purchases, monthly payments, or as a subscription.
The service is responsive. It has a comprehensive knowledge library with online lessons and lives webinars for common questions you might ask as you begin creating your first class. You can create a ticket if you have any additional questions. Usually, you will hear back from support within one day. Professional Teachable clients have access to live chat support.
What Plans can I avail?
Teachable allows customers to choose one of three options: Basic, Pro, and company.
For people who want to dip their feet first and check out its features before committing, Teachable does offer a 14-day free trial.
All plans include unlimited video, courses, and hosting. Additionally, it has integrated payment processing, student management, lecture comments, fundamental quizzes, no fees on free courses, and VAT (value-added tax) for the EU.
Basic ($39/month or $29/month if yearly billing is chosen)
Each of the base features include unlimited students, class product, training product, a members-only community, automatic sign-ups, and two admin-level users. You’ll need to pay the monthly fee along with a 5 percent transaction fee on this plan.
Pro ($119/month or $99/month if yearly billing is chosen)
Including all base features plus priority product support, advanced reports, five admin-level users, an unbranded website, and completion course certificates, among others–no transaction fees.
Business ($299/month or $249/month if annual billing is selected )
This includes everything in Pro plus 20-admin level users, bulk student enrollments, manual student imports, custom user roles, innovative theme customization, and group coaching calls. Teachable Payment Processing
Now that I have talked about what I enjoyed about Teachable, here are a few things I do not like:
- No free plans.
- Teachable does not have a free plan. But, it does offer a 14-day trial.
- 5% transaction fees
- There’s a 5 percent transaction fee for those who opt for the Basic plan.
- No phone support.
- There’s no phone number to contact for queries.
Why should you try it?
I’m not the most tech-savvy person out there. Far from it, actually. I’ve had many a day being the most confused about the crowd. But with Teachable, I found it reasonably easy. It does take a while to explore the web site, its features, and test stuff out. Comparable to a duck testing the waters first.
You can teach the way you would like to know by using customization tools to personalize your content. Teachable Payment Processing
You don’t need to think about marketing. Teachable has built-in features to take care of payouts, taxes, affiliates, and writers. So all you have to worry about is creating the content you want to sell.
To Sum It Up
For complete beginners and busy entrepreneurs who want to concentrate more on course production than the business’s technology and marketing aspect, Teachable is an approachable platform.
Teachable helps you turn the online courses you may make on any topic you love into a business. Why not start now?
Frequently Asked Questions: Teachable Payment Processing
Teachable is an online learning platform that helps users create and sell their courses.
Can I use Teachable for free?
There’s a 14-day free trial for the Pro Plan. When you click on the “Get Started” button and register, you will automatically be entered into a Professional plan trial. You do not need a credit card for this. There is not any free trial for Basic and Business Plans. You can add up to ten students to complete courses.
How do Teachable payments work?
Teachable uses Stripe express to process credit/debit card transactions in addition to PayPal payments. Owners may receive payouts directly to their own banks dependent on the payment scheme set from the primary school owner. It can be done from the Preferences > Payments section of the school admin. Payouts can be set daily (on a 2-day business rolling period), weekly (every Thursday), or monthly (every 30 days on the first business day of the month).
How much does Teachable cost?
The Basic plan costs $39/month or $29/month if yearly billing is chosen. However, Teachable’s more popular Pro Plan at $119/month or $99/month if yearly billing is determined is more opted by lots of people. It has more features that match most of what their company needs.
The Business Plan also costs $299/month or $249/month if yearly billing is chosen. This would be a better fit for large organizations where multiple instructors are required to upload course materials.
Does Teachable charge any processing charges?
Yes. It charges 2.9% plus 30 cents for any sale made via a credit card, debit card, and US Paypal accounts. International cards are charged 3.9% and 30c. International PayPal gets billed 4.4% plus 30 cents.