As an artist, it is essential to know the way pricing and payments work at Designhill's PrintShop.
There are three important terminologies you need to understand:
Base Price, Designer’s Margin, and Retail Price
Here is how it works: Base Price + Artist's Margin = Retail Price
- It covers Designhill’s service fees, including manufacturing cost.
- Base price may vary as it depends material cost, local production, and taxes. Changing the delivery address during checkout would change the overall price.
- Please keep in mind that currency and cost fluctuate so as the base price.
Artist Margin or Markup Percentage refers to the price you make out of a sale. The main purpose of calculating Markup Percentage is to find out the ideal sales price for your design.
- You need to set your commission or markup percentage for every artwork you want to sell.
- You need to set it everytime you upload a new artwork.
- You need to define your margin in percentage and its calculated by multiplying it with the Base Price.
Base Price x Markup Percentage = Artist Margin
- Its the sum of Base Price and Designer's Margin.
- Thats what will be displayed on the front end to all the customers.
Sales & Discounts
Remember, the markup refers to the percentage of a base price. It means if the base price changes, the designer’s margin will also changes. Here is a simple way to determine:
[Base Price – Discount] X Markup = New Artist’s Margin
You might feel that you're making less profit because of the site-wide discounts, but remember that discounts drive customers to the site and attract them to your work.