No payments are processed directly through the AgoraCX Marketplace (If you’re serving Towson University, their setup is different, read more here). For the rest of you, here’s how it works:
A 2.5% platform fee is taken off the top of ALL orders.
For some projects, a royalty fee will also be involved. Our system will automatically decide if the project is royalty bearing or not, based on the questions that the buyer answers in the quote request form.
The calculation table in your quote response form will help you calculate these fees. You’ll see right away what we’re taking and what you’re taking home, so you can ensure that you’re covering all your costs before you submit anything to the buyer.
You’ll process all payments directly with each buyer, business as usual. Steps to take:
- Receive a system email alerting you that an order is ready to be finalized. (Make sure you don’t start production until you get this notification!)
- Reach out to the customer directly to provide payment instructions.
- Process the payment*
- Once the order has been delivered, or 15 days after the order placement, we’ll bill you for the 2.5% AgoraCX platform fee.
- Royalty fees are your responsibility. Business as usual.
*When invoicing the buyer for their order, it is important that you bill the buyer for the full order amount, which includes the AgoraCX platform fee.
You have full control over the final amount that will be charged to the customer. You can adjust that amount in the per item cost table, as well as in the additional fees section.
You can approach fees and pricing in a couple ways:
- You can quote your final amount slightly higher (building in additional margin), to compensate for the fees.
- You can consider the cost of the fees as part of your marketing budget, since AgoraCX grants you increased exposure to additional projects without added effort or marketing investment. Viewing it this way will help keep your costs competitive.
We’ve structured our fees and calculating table in such a way as to give you the freedom and flexibility to decide how you want to approach fees, ultimately setting you up for maximum success!