Not all partnerships are between two people. There may be times where you collaborate on a project with multiple partners, or you may have multiple products in your funnel supplied by different partners and they only earn revenue from their associated upsells.
ThriveCart lets you create multiple contracts on the same product, so you can easily create a contract for Partner A and a contract for Partner B, all on the same product.
They don’t need to be for the same amounts either, in this example, above we have a product being sold for $200, and we have 2 partners. One earning 30% on sales, whilst the other only earns 10%.
The amounts you’ll agree with your partners directly, just remember that you can’t pay more than 100% of the product price out to partners. If you wanted to split a product evenly 3 ways, between yourself and 2 other partners, you’d set the contract to pay them 33.3%
Steps to follow:
- Create a contract for Partner A – making sure to set what product(s) and the revenue share percentage they’re entitled to.
- Create a contract for Partner B – again, making sure to set what product(s) and the revenue share percentage they’re entitled to.
Now, as each partner approves their individual contracts, sales will be processed and revenue will be split out to each partner based on the settings in their contract.
Bonus tips:
Remember, you don’t have to share revenue on specific products in your funnel. Let’s say a partner is only supplying an upsell in the funnel, they’ve had no input on the main product. You probably won’t want to share any revenue from the main product, BUT you’ve agreed that you’ll earn 40% of all sales on the upsell.
In this scenario, you’d set the partners contract to pay 0% on the main product and then 60% for the upsell.
So, in the above example, you would earn 100% of the revenue from the main product and the bump, for the upsell you’d earn 40%. Your partner earns nothing on the main product and bump, and then earns 60% of sales for the upsell.
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