Entrepreneurs may design, promote, and market to sell online courses with Thinkific. Thinkific is a wonderful choice for anyone just getting started with online course production because it’s simple to set up.
If that wasn’t enough, the Thinkific online course platform provides all the essentials that you will need, from managing your material to selling it online. There are a lot of plans that you can purchase through Thinkific.
Each plan has different features, thus it is important to weigh up what you need and what each plan offers you. With that being said, a lot of online course platforms similar to Thinkific may take cut off your sales.
This is something to be aware of when you are trying to work out how much money you are making.
To help make things simpler, we have created this article which will explain what percentage of sales does Thinkific take?
Thinkific is one of the more well-known platforms for developing and marketing online courses and membership websites. It allows you to design courses using video, downloadable materials, rich text, and images.
You may create a sales page with all of your own brandings to accept payments and offer access to the course. Additionally, you may design a curriculum that unlimited students can access.
This helps them to skip between Thinkific course chapters, take part in quizzes, and obtain certificates for completing unlimited courses. This curriculum can be created using a drag-and-drop feature in the Table of Contents.
Thinkific Payment Plans
There are 4 Thinkific pricing tiers offered by Thinkific from the basic Thinkific growth package to: free, $99, $199, and $399. For brand-new course teachers, Thinkific’s free plan is a fantastic entry point.
Depending on your experience with course creation and your financial situation will affect which plan you go for straight away. If you’re seeking to test the waters by creating a successful online course business, then try their Free plan.
Then you could move onto the paid premium plans, which all offer a more extensive feature set. The most popular plan they offer is the Thinkific Grow plan. This Thinkific basic plan happens to be $199 per month and comes with all the tools you need to establish an outstanding learning environment.
Will Thinkific Take A Percentage Of Your Sales?
Payment processing fees and commissions from your course sales are exempt from the Thinkific policy. There are online course creators that make millions of dollars from their sales and keep every dollar of it.
This Is because Thinkific the only online course platform wants you to be able to have a significant effect on both your company and the students you assist along the way. Hence, you can be assured that any money you make from sales, will go to you.
How Does Thinkific Make Their Money?
Due to Thinkific not taking a cut of any sales that you happen to sell courses, you may be wondering how Thinkific makes money. Well, the answer is quite simple. Thinkific makes all its money from sales of its paid plans.
As their paid plans contain so many more features, a lot more people move over to a paid plan after trailing the free plan.
Hence, once you have started to grow your online community and want to create more courses to earn more money, you will need to move to a paid plan. Then this is how Thinkific makes its money.
Are There Any Transaction Fees With Thinkific?
Once you have sold a course, you are told that you get every penny of that money. However, depending on which payout method you choose, you may be charged a small transaction fee.
There are three payment methods including PayPal, Stripe, and Thinkific Payments. Most people use Thinkific Payments as it is much easier to use and more streamlined, so there’s less work for you to do.
The fees you are asked to pay will depend on where you live and can vary depending on what you are purchasing. Thinkific and Stripe have similar transaction fees, which vary from 1.4% to 2.9%.
Overall, this transaction is very small and will only take away a few dollars from your total. While there are no transaction fees from PayPal.
The collection of payment processing and selling tools offered by TCommerce includes an integrated payment processor called Thinkific Payments.
Your Thinkific dashboard, it gives you access to everything you need to collect payments, handle refunds, and manage payouts. As well as to update your financial and company data.
Thinkific is aware that increasing sales is essential to expanding your company, and then the hours wasted on payments takes away from teaching time.
To assist you in selling more and doing it more quickly, Thinkific Payments streamlines your sources of income and processes payments for your services.
Revenue is transferred from your Thinkific profile into your bank account when a student makes a payment via Thinkific Payments.
Payout schedules are determined by the nation in which your company is registered. In addition to your account’s level of account verification. It can take a couple of days for your first payment to be made into your bank account.
In your Order information, you will find the Payment method displayed as a Credit card whenever a student pays via Stripe.
Regular payments to your bank account will be made through your Stripe account. From your Stripe account, you may modify the frequency of payouts!
You will only receive your first payout from Stripe around 7 to 10 days after they have received your first successful payment.
When a student uses PayPal to pay you for her purse, you will see PayPal listed under the Payment method heading in your Order Information.
You will be required to manually transfer money to your bank account when receiving payments using PayPal. As a result, you shouldn’t anticipate any transaction fees. You will have to do extra work as a result, though.
It is important to note that for up to 21 days, PayPal will withhold cash from newly opened business accounts to ensure that they are real.
Don’t Forget About Any Conversion Fees
Payments will be made in the currency of the nation in which you are selling and the currency of your linked bank account. Any payment made in another currency will usually be credited to the matching account if one exists.
Payments received in a currency other than the one associated with the account will be automatically converted, less a conversion fee.
While Thinkific doesn’t take any percentage of your sales, there are other areas where you may lose a small percentage of money. This includes any transaction or conversion fees. With that being said, you don’t lose that much money.
At most, from each payment, you may only lose a couple of dollars. Which equals a very minimal percentage of your overall total. We hope this article has been helpful. Hopefully, you now have a clearer understanding of the percentage of sales that Thinkific takes.