Good news! There are no upfront costs to use PhotoDay. Studios can set up an account without a credit card or any financial commitment. PhotoDay charges a 10% fee on the retail amount at the time of sale.
How is the PhotoDay fee calculated?
Base Cost = The cost of the product. For print products, it's the lab's costs. For digital products, it's PhotoDay's cost. For more information on digital products and their associated costs, check out this article here.
Markup = The Retail Price minus the Base Cost.
Retail Price = The retail amount set by the photographer.
PhotoDay Fee = 10% of the Retail Price.
The PhotoDay fee is calculated prior to any potential discounts that are applied to the order. This means that the fee is based on the pre-discount total.
Are there any other costs?
PhotoDay uses STRIPE to process all credit card transactions. The processing fee for STRIPE is 2.9% of the order amount plus $.30 per transaction. This is calculated at the time of the order and is deducted from the studio payout.
How much does the studio get paid?
For each transaction, the studio gets paid the Markup amount plus any taxes collected, less the PhotoDay fee and the STRIPE processing fee. We include taxes in the payout because the studios are responsible for paying their own sales tax.
When dealing with payouts to the studio for AdvancePay purchases, the math can get a little more intricate. Fortunately, we have a complete breakdown of this process in this helpful article here!