0, 1, 2, 5, or more??
One common question we get asked is: “What should I put for my transaction fee?”
In case you don’t know about the transaction fees, the marketplace creator gets a percentage of each transaction, which we call the “transaction fee”. The creator can choose their percentage- or if they don’t want to take a cut, they can set it to 0.
If you’re setting up a marketplace for a nonprofit organization, or if you want to advertise to your members that you don’t take a percentage, set your fee to 0%.
1-5% the middle.
We recommend 1-5% fees for most marketplaces. Other non-marketplacr marketplaces usually take around 3%, so that range seems reasonable for most marketplacr accounts.
5% or more??
If your marketplace is run by a community group and a the profits go to funding the group, a higher transaction fee is completely acceptable. For example, if you run a skating club and need to pay ice time, you can use the marketplacr profits to help subsidize rent and keep prices down for your club members.