To give you an idea of how much it may cost to sell tickets online in your PlanSocial Payment Hub, here are some examples worked out for you with various prices. If you like to geek out over the numbers, let's dig in! :D
Example 1: Movie Night, selling 200 tickets at $5 each
The platform fee you would pay if you are using a free PlanSocial Payment Hub is 1.5%, so works out at $15 for total ticket amount of $1000.
The Stripe gateway fee applied will vary depending on how many tickets are bought in one transaction, as they charge 30 cents for each purchase, as well as 2.9% of the total amount. That 30 cents can really add up, so PTAs often add it onto the ticket price.
So if 200 people bought a single ticket in each transaction, the Stripe fee would be:
(200 x $5 x 2.9%) + (200 x $0.30)
= $29 + $60
So your net amount after all fees is:
$1000 - platform fee ($15) - Stripe fee ($89) = $896
Now let's say 100 people bought a single ticket for their child, but 50 other people bought 2 tickets each.
The Stripe fees applied would be:
(100 x $5 x 2.9%) + (100 x $0.30) + (50 x $10 x 2.9%) + (50 x $0.30)
= $14.50 + $30 + $14.50 + $15
Therefore you saved $15 in fees by having more people buy more than one ticket at a time.
So your net amount now after all fees is:
$1000 - platform fee ($15) - Stripe fee ($74) = $911
However if you instead charge $5.50 for tickets, the platform fee would be $16.50
if 100 people bought a single ticket, and 50 people bought 2 in each transaction, the Stripe fee would be:
(100 x $5.50 x 2.9%) + (100 x $0.30) + (50 x $11 x 2.9%) + (50 x $0.30)
= $15.95 + $30 + $15.95 + $15
Your net amount is now:
$1100 - platform fee ($16.50) - Stripe fee ($76.90) = $1,006.60
So charging 50 cents extra per ticket approximately covers all your online fees (depending on number of final transactions).
In conclusion, the stripe per-transaction fee can have a big effect on low ticket prices. So we would either suggest you add a little extra to the ticket price to cover it, and also encourage people to buy tickets in groups if they can. You can always use the "Note" during ticket purchase for people to list all the kids covered by the tickets they have bought.
Example 2: Family Entertainment Night with food included, selling 100 tickets at $40 each
The platform fee you would pay if you are using a free PlanSocial account is 1.5%, so works out at $60 for total amount of $4000.
If 100 families bought one ticket in each transaction, the Stripe fee would be:
(100 x $40 x 2.9%) + (100 x $0.30)
= $116 + $30
So net amount:
$4000 - platform fee ($60) - Stripe fee ($146) = $3,794
If you increase your ticket price to $41.50, this would give you a net amount of $3,999.65, so if families don't mind the slight increase in price, I'm sure they will appreciate the convenience of paying online and paperless ticketing for the organizers!
Example 3: Gala Dinner, selling 200 tickets at $100 each
The platform fee you would pay if you are using a free PlanSocial account is 1.5%, for total ticket amount of $20.000 works out at $300.
Let's assume tickets are bought in pairs.
(200 x $100 x 2.9%) + (100 x $0.30) = $580 + $30 = $610
Net amount = $20,000- platform fee ($300) - Stripe fee ($610) = $19,090
A final note
We use Stripe Connect, which means your Stripe fees are reported to you directly in your Stripe dashboard. We would encourage you to apply to Stripe for a non-profit rate.
On PlanSocial (free version), we apply the 1.5% platform fee and the Stripe fee, and these are clearly detailed in your 'All Tickets' tab when you download the CSV spreadsheet file.
NOTE: If you are holding multiple events, or high-ticket price events in your school, you may well benefit from upgrading to a PlanSocial Community Hub which offers reduced platform fees. See our pricing plans here.
Please feel free to drop our friendly support team a line to find out more! :)