Hello,
What is the minimum sustainable and maximum acceptable price for a vendors plan? Just installed MV and the default plans look frightening. :shock:
Share your experience, please.
Hello,
What is the minimum sustainable and maximum acceptable price for a vendors plan? Just installed MV and the default plans look frightening. :shock:
Share your experience, please.
Amazon charges 15%, eBay & Etsy charges 10% so based on your products and market should give you an idea what sellers would be willing to pay..
I say don't worry about it, open it up, make it free..when and if you have enough sellers and products start thinking about this...you could always keep the free plan and create a upgrade plan with extra features for a price..
Etsy charges 10% so based on your products and market should give you an idea what sellers would be willing to pay..
They charge 5%, so I better quit before losing all my money. :-)
They charge 5%, so I better quit before losing all my money. :-)
hmmm..I didn't know Etsy was that low..:-))
I remember the times Amazon was giving 35% royalties to the book publishers... Which translates to 65% commission.
Low commission to you means you need high volume.
High Volume means more issues/problems/support unless your system is so clear to vendors that it is practically on autopilot.
If you are "just another Etsy or Amazon" you'll be squeezed by low commissions and margins.
If you truly have a unique marketplace for your vendors.. then you can get away with charging higher commissions to place merchants on your platform.
We have clients doing 10's of millions in multi-vendor sales and charging as high as 33% commission.
This is because we:
- Made the system as automated and user-friendly to both customers and vendors as possible.
And because they:
- Targeted and created a niche multi-vendor marketplace that has little competition ...or more realistically, they had a better offer than what is currently out there.