Foodring Fee Policy

‍

At Foodring, we are excited to provide a platform where home cooks and caterers can share their culinary creations with the public. To ensure the sustainability and ongoing development of our service, we have a simple and transparent fee policy.

‍

Fees for Home Cooks (Ready-to-Eat Meals)

‍

Transaction Fee

‍

12% of each transaction made through our platform is retained by Foodring as a service fee. This includes:

  • Order and Payment: When customers order and pay directly on Foodring for your prepared meals.

‍

Why these fees?

  1. Transaction Fees: We use payment processing services like Stripe to handle online payments securely. These services come with costs (transaction fees, Stripe Connect for multiple marketplace accounts, and Stripe Payouts for transferring funds to merchants' bank accounts).
  2. Operating Costs: These fees cover the expenses associated with:
    • Platform Hosting on reliable servers.
    • Database Maintenance to ensure the security and efficiency of your information.
    • Ongoing Development to improve and maintain the quality of our service.
    • Customer Support for quick resolution of your queries and issues.
  3. Development and Growth: We invest in marketing and platform development to attract more customers, thereby increasing sales opportunities for you.

‍

How does this work for you?

  1. Setting Prices: When setting your meal prices, we encourage you to consider this commission. For example, if your cost to produce a dish is $10 and you want to earn $12 after the commission, you should list your dish at $13.64 ($12 / 0.88).
  2. Price Transparency: Customers will see the total price including our commission. The price you list is the price they expect to pay.
  3. Payment: You will receive 88% of the total amount paid by the customer for each order. Payment will be transferred to you according to the terms you agreed to upon registration on our platform.

‍

Key Points to Remember

‍

  • No Hidden Fees: The transaction fee is the only fee we charge on Ready-to-Eat sales.
  • Tips and Gratuities: Tips left by customers are entirely for your benefit and are not subject to our commission.
  • Price Updates: You are free to update your prices at any time, keeping the commission in mind to ensure your profitability.

‍

Fees for Catering Services

‍

Currently, there are no transaction fees for catering event bookings, but we are developing a system where caterers can receive payments directly through Foodring. Once implemented, a similar commission structure will be applied to these transactions to cover:

  • Event Management: For creating and managing event bookings within our system.
  • Payment Processing: For handling payments related to catering services.

We will provide updates on this fee structure as our catering payment system becomes available.

‍

Questions?

‍

If you have any questions about our fee policy or how it affects your sales, feel free to contact us at support@foodring.ca.

Thank you for being part of the Foodring community!

‍