Share revenue for your courses and bundles using Revenue Partners
Modified on: Tue, 26 Feb, 2019 at 4:04 PM
Was your course creation process a joint effort? Or are you selling a product on behalf of another instructor?
Our Revenue Partner feature makes it simple for you to share a percentage of sales made on your courses and bundles, tracking for you the commission owed to your co-instructors and course contributors.
Below we'll cover creating a Revenue Partner, and how the commission reporting works.
Creating a Revenue Partner
1. To make somebody a Revenue Partner, go to the Share Revenue page of your admin dashboard. (If the person isn't an existing user, you'll first need to set them up with an account from the Users page of your admin dashboard).
2. Hit the Add Revenue Partner button to bring up the menu, and select a user from the first dropdown list.
3. From the second dropdown list, select a bundle or course and then set their commission percentage.
4. Hit Save and the user will now be a Revenue Partner for that product. For each sale, the percentage owed to them will be tracked by our system so you'll know exactly how much to pay them!
Additional Pricing Options
If you have Additional Pricing Options for your course, you will need to attach each one to your Revenue Partner separately. For a particular Revenue Partner, simply click on View to see which courses they are currently a revenue partner for. You can then attach the additional pricing options to the Partner.
If you're using Subscription pricing or a Payment Plan, our Share Revenue feature will calculate the percentage commission on all payments that the student makes.
Managing your Revenue Partners
The Share Revenue page is where you can come to manage your revenue partners, as well as their commissions and payments.
You are able to change the time period of the commissions information using the dropdown list (commission transaction dates) at the top of the page.
To access the specific information for a revenue partner, find them in your list of revenue partners and select the View button.
This will take you to their revenue partner profile, from which you can manage their commissions and payouts.
Recording a payment to a Revenue Partner
All of the commissions owed to a Revenue Partner will be tracked; making it super easy for you to see what they're owed and make payments to them.
Payments are made manually by you, outside of Thinkific—so it's totally up to you how you want to manage that! One popular solution is to use PayPal, and create a schedule/reminder for yourself to send the funds owed to your revenue partners on a regular basis (e.g. once a month). You have the flexibility here to set up a process that works best for you and your business.
Once you've made a payment, you are able to make a record of this in Thinkific so that you know the revenue partner has received their commissions.
To do this, first you'll need to approve any commissions that should be included in the payment, by going to the report and hitting the Approve button.
Then select Approved and click on Create Payment.
On the next page, you'll see the list of commissions to be included in the payment record - select Record Payment to continue. On the confirmation screen, hit Confirm and Record Payment. And that's it! Any commissions included in the payment will now show as paid.
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