JV Contracts are "Joint Venture" Contracts between you and another member of WarriorPlus.
They allow you to split the earnings of products you have listed on WarriorPlus with another member. This allows you to share the revenue from your products with partner(s) that you have. You can make the revenue split ANY PERCENTAGE you want, up to 90%.
To set up a JV Contract:
1. Login to your WarriorPlus account
2. Click on "Vendor" in the top menu
3. Click on "JV Center"
4. To create a new contract, click the green button that says "+ New Contract"
5. On this page, you will be able to choose the Contract type, Product, JV Partner, Revenue Share, Start Date, End Date, Max Earnings, Max Sales and Contract Name.
There are 2 types of JV Partners:
- Full JV - This partner will receive a commission on EVERY sale that is made.
- Affiliate Referral - This partner will only receive commissions on sales made by affiliates that they bring in / recruit.
The contract receiver is the WarriorPlus user name of the JV Partner
Select the amount of commission the JV partner should receive and the offer they should receive it for. (If you select 40%, then your partner will receive 40% of every sale)
The next step is to select the start and end dates that the contract should be in place for.
You can optionally set the maximum amount of money or sales that the JV Partner can receive on this contract.
You can also name the contract in order to keep easy track of it in your list of contracts.
Accounting for 3rd Party Merchant Account Fees (PayPal, Stripe, Etc):
When a sale is made, WarriorPlus fees are deducted BEFORE the JV commission splits, so partners are automatically splitting the fees charged by WarriorPlus...
However, merchant account providers such as PayPal, Stripe, etc. will deduct the fees from the main vendor's balance. JV Partners DO NOT automatically split PayPal/Stripe fees.
In order to account for this, you can simply adjust your JV Contract split percentage.
For example, if you figure that Merchant fees are ~3-4% per sale on average, and you want a 50/50 split with your JV partner -- you may consider having your partner accept 48% instead of 50% (if you are the vendor of sale, or vice versa if you're the partner).
4-5% is a safe, conservative range to consider for merchant fees, since they may vary per sale based on the location of each individual buyer. However, this is just a recommendation and not a requirement. It's entirely up to you and your partners to come to an agreement.