11. How will you collect the course fees?

Have a listen, if you fancy:

At first, I was using Eventbrite to sell spaces on my courses and to collect all the payments.

Pros of Eventbrite

  • It’s a professional website that most people are familiar with, so they feel safe paying through this platform.
  • It’s really easy to set up a nice-looking landing page and there are boxes to fill in with course details, so you won’t forget to include important information (like date, time, costs etc).
  • You have all course participants’ details in one place and can send emails to the group via the Eventbrite website.

Cons of Eventbrite

  • The fee is high. Eventbrite charge 5.5% of the ticket price + £0.49 per paid ticket. This really adds up when you’re selling one space for a couple of hundred pounds.
  • You don’t get paid until the ‘event’ has taken place. So you might start selling spaces in June for a four-week course beginning in July but won’t see any of the money until the course has finished at the end of July. And it doesn’t come immediately once the course ends, it can take up to two weeks. This is quite frustrating.

I now take payment, as you know, via my website through Paypal and Stripe. More people recognise Paypal which is why I included this option, but the Stripe fee is much lower.

Stripe charges 1.4% + 20p for all European cards and 2.9% for all non-European cards.

Paypal charges 3.4% + 20p for domestic payments. However, if you receive more than £1,500 a month, you can apply for a merchant rate that will depend on your Paypal monthly turnover and can be as low as 1.9%+20p.

I applied for the merchant rate – it’s really simple. You login into your Paypal account, scroll right to the bottom of the page and click on ‘fees’. Next go to ‘selling with Paypal’ and ‘merchant rates‘. The application takes a few seconds and you will immediately be told whether you qualify. If you do, you’ll automatically start paying a lower fee. This is well worth doing, if you use Paypal.

An advantage to Paypal is that as soon as you’ve received a payment, you can transfer it to your bank account and it will immediately appear. With Stripe, they send the payments to your account in chunks, about five business days after receiving them.