The Boutique Hub annual membership fee
To sell on Hubventory, a brand must be a member of The Boutique Hub, which has an annual membership fee of $588. It ensures that you are ready to grow, that you can provide excellent customer service, and that you have been vetted by our team for buyers. It also provides you with access to our entire community, wholesale education, and other membership benefits! For more information, click this link to get routed to the Commonly Asked Questions section: https://theboutiquehub.com/join/brand/
Stripe charges: Stripe processing fee & commission fee
With every successful transaction, there is a Stripe charge of 2.9% plus 30 cents of the total amount. And Hubventory's commission fee of 5% is applied to the total order amount and/or after the discounted amount, not including the shipping fee. To clarify, the commission fee is also called the application fee on Stripe.
The example given is for a pre-order:
Total order amount with shipping fee : $215
Shipping fee : $15
Please check out the sample calculation below:
1. Stripe processing fee of 2.9% + 30 cents
- Total order amount with shipping fee: $215 * 2.9% + 30 cents = $6.54
2. Hubventory's commission fee of 5%
- Total order amount without shipping fee: $200 * 5% = $10
Total charges: $6.54 + $10 = $16.54
Final computation: $215 - $16.54 = $198.46 (Take home pay)
When retailers pay off their orders, there's no need to wait or pay more for faster payouts. The funds go directly to your Stripe account, giving you a hold of your money in real time when you earn it!
During the checkout process for an immediate order, Hubventory applies a pre-authorization charge of 110% to the retailer's card (Hub discount applied if there is).
Below, you will find a breakdown illustrating how an immediate order's charges are reflected in Stripe along with live screenshots for reference:
Order details are the following:
Immediate subtotal: $190.56 (total for the order placed)
Discount: $9.53
Shipping: $26
Questions:
1. How much is the pre-authorized amount: $199.13
After the discount, subtotal is only $181.03
Pre-auth is 110%: 181.03 * 1.10 = 199.13
2. Why was there an initial refund amount of $18.10?
Due to the shipping fee being $26, which is larger than the 10% pre-authorization amount of $18.10, the 10% pre-authorization was subsequently refunded, allowing the full shipping fee of $26 to be charged separately.
3. What is this Fee of $14.60 for? The following calculation represents the combined fees, including the Stripe fee and the Hubventory commission fee: $14.60 ($5.55 + $9.05)
To calculate the Stripe fee: Amount less the discount: $181.03 * stripe fee of 2.9% = $5.25 + 30 cents = $5.55 (not including shipping)
To calculate the Hub’s commission fee: Amount less the discount: $181.03 * 5% = $9.05
4. How much is the take home amount: $166.43
To determine the take-home amount, we start with a subtotal of $181.03 after applying the discount. By subtracting the combined Stripe and Hub fees of $14.60, the resulting value is $166.43.
5. When will the shipping fee reflect on Stripe?
Once you ship the order using Hubventory and include the shipping fee, Stripe will generate a separate transaction specifically for the shipping fee.
Can I change my bank information?
Currently, Hubventory only uses Stripe to process the payments inside the platform. You can update your information any time through your Stripe Account. All the deposits from orders will be released, processed, and deposited directly in this account connected through Stripe for easy access.
You can also upload your top 50 customers for a 0% commission (stripe fee still applies).
As an "incentive" for uploading your top 50 buyers, Hubventory gives a 0% commission fee to those customers listed as your Top 50 customers. Keep in mind that you may only edit your list once a year, and your top 50 retailers should be in Hubventory. The stripe fees still applies.
Here's how you can upload your "Top 50 Customers"
1. Go to the "Customers" tab.
2. Click the "Top Customers" option.
3. Look for the "Top Customers import template"
4. In the CSV file, put the Retailer's name and Billing Email.
5. Once done putting the Retailer's name and Billing Email, click the "Upload Top Customers CSV" and upload the file.
Rewards
Boutiques can earn rewards on purchases. When they redeem the rewards you will see an additional charge on your account in the amount of the reward.
Examples:
Preauth
A boutique spends $500.00 on one of your preorder products. We will preauthorize an extra 10% on the order so $550.00 will be preauthorized. During the purchase, they redeem 500 reward points which translates to $5.00. You ship the entire order with a shipping cost of $25.00. The following charges will appear in your Stripe account.
$520.00 will be captured from the preauthorization. The rest will be refunded to the buyer.
$495.00 of that will have our %5 fee and the 30 cent + 2.9% stripe fee.
$25.00 of that will have the 2.9% stripe fee.
You will see an additional charge of $5.00 from Hubventory Rewards card. This will have Stripe’s 30 cent + 2.9% fee.
Total fees-
Stripe- 2.9% of $525.00 = $15.23 + .30 + .30 = $15.83
Hubventory 5% of $495.00 = $24.75
Total fees- $40.58
Preauth with extra shipping
In this example, we have a preauthorized order where the total shipping costs are more than 10%. A boutique spends $500.00 on one of your preorder products. We will preauthorize an extra 10% on the order so $550.00 will be preauthorized. The buyer redeemed 500 reward points during the purchase, which translates to $5.00. You ship the entire order with a shipping cost of $60.00. The following charges will appear in your Stripe account.
$495.00 will be captured from the preauthorization. The rest will be refunded to the buyer. Since we will have to make a second charge regardless, we try to make the second charge equal to the shipping so it's easier for bookkeeping. This will have our %5 fee and the 30 cent + 2.9% stripe fee.
$60.00 will be charged for shipping. This will only have the 30 cent + 2.9% stripe fee.
You will see an additional charge of $5.00 from Hubventory Rewards card. This will have Stripe’s 30 cent + 2.9% fee.
Total fees-
Stripe- 2.9% of $560.00 = $16.24 + .30 + .30 + .30 = $17.14
Hubventory 5% of $495.00 = $24.75
Total fees - $41.89
Preorder
In this example, we have a preorder where we don’t preauthorize anything. A boutique spends $500.00 on one of your products. You charge $60.00 for shipping and the buyer redeems 500 reward points during the purchase which translates to $5.00. The following charges will appear in your Stripe account.
$555.00 will be charged to the buyer and will get the 30 cent + 2.9% stripe fee. $495.00 of that will have our %5 fee.
You will see an additional charge of $5.00 from Hubventory Rewards card. This will have Stripes 30 cent + 2.9% fee.
Total fees-
Stripe- 2.9% of $560.00 + .30 + .30 = $16.84
Hubventory 5% of $495.00 = $24.75
Total fees - $41.59