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Royalty store system

by Gonzosan
4 replies
I have my VA working on a custom store for me that will allow users to upload content (digital content) and they'll set their price and I'll receive a 20% flat royalty. Has anyone done this or have any experience working with something like this?

I'm using wordpress and right now I have TinyPass and MarketPress that I'm testing out but is there an easier plug and play plugin/theme that supports this? I'm getting a little bummed out about it although it's only been a few weeks since he's been working the issue.
#royalty #store #system
  • Profile picture of the author Gonzosan
    Anyone have an idea on this? Not sure if my VA really has a clue how to do this which is funny considering these plugins say they have a royalty feature built in. He's asking if we can set it up so that I pay them at the end of the month 20% from their sale which just seems like way more work than it's worth.

    Can someone please give me some ideas on how to make this work? I need a way where a customer can sell something on my site and automatically deducts 20% and goes my way and the other 80% goes to their account. Thoughts?
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    • Profile picture of the author agmccall
      You will probably have to set up an affiliate program in which you are the seller and the product owners are the affiliates, there is software for that, just google "affiliate software" and you will find quite a few. I do not know if this software can be implemented into a WP site.

      But, remember this. You are now responsible for Filing and submitting all the tax information for each individual product owner as you will be the seller.

      al
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      "Opportunity is missed by most people because it is dressed in overalls and looks like work." Thomas Edison

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  • Profile picture of the author Istvan Horvath
    Just a simple question before you get too involved in this project...

    Let's say for a moment I'd sign up and upload my product. WIIFM? (What's In It For Me?)
    What are you going to offer me in exchange for the 20%? - Just curious...
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    • Profile picture of the author Gonzosan
      Originally Posted by Istvan Horvath View Post

      Just a simple question before you get too involved in this project...

      Let's say for a moment I'd sign up and upload my product. WIIFM? (What's In It For Me?)
      What are you going to offer me in exchange for the 20%? - Just curious...

      I say "product" in a loose way. I won't say exactly what it is but think of a wordpress theme site that sells themes from all sorts of people where they pay 70% to the producer. That's what I will be doing. Other than setting up their own personal store on a website selling this type of content would be pretty hard. Most people who have stores similar to mine take 30-50% cut so I'm trying to entice others to use my store since they'll make more money.

      On that note would it really be that hard tax wise to have this kind of store? That worries me a bit. I've never really done something like this and I'd be worried about it getting into legal issues because of my ignorance.

      *Edit* agmccall I decided to scrap the royalty system and just have it so that I can sell my own products online. I was trying to overreach to get something like this made but realizing that there is a lot more involved in this made me start with something smaller. Least this way I can start making money from my products while we find a suitable solution to the royalty system I want. Thanks, really made me open up to new ideas.
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