With the word ‘free’ constantly being thrown around, we understand that ‘free’ can sound suspicious or gimmicky. To be transparent, we’ve put together the following statement to explain how we arrived at the term ‘free’ and managed to be the only ticket and registration platform in the market charging event managers $0 for their paid ticketed events.
Floktu wasn’t always free, and it took us several years to get here. Over the years, we have been lucky enough to build close and strong relationships with a talented, loyal and growing client base that has allowed us to eventually remove any unnecessary ticket or service fees and still cover our overhead costs. These costs are covered by 3 streams of revenue that help us continue to grow (and keep the lights on at Floktu HQ).
The Revenue Streams that allow us to give you free events:
1. Floktu Subscription – We offer a subscription service for our Swift users who want to use their own payment gateway. When you use your own payment gateway you substitute the Floktu 3% processing fee for your own and the Floktu charges an affordable quarterly subscription plan.
3. Floktu Swift – As our Swift client base scales we are in fact able to reduce our internal processing costs and then use what remains of the fixed 3% payment and processing fee as additional revenue for growth and product development.
We have removed all ticket and service fees for our users however some of you may experience that this is not immediately represented once you sign up and start creating events. This is why Swift is in Beta and you can rest assured that if there is a discrepancy all fees will be removed and you’ll have the option to pass on the payment and processing fees to you ticket purchaser within 24 hours of signing up.
We are able to offer fee free events by allowing event managers to pass on the 3% processing fee to their customers/attendees. This processing fee is ubiquitous across event registration platforms and payment gateways in general. By eliminating ticket and service fees we are able to offer the only free solution in the online ticket and registration market today.