Revenue Model of Nlance

Nlance is a freelance marketplace software by NCrypted Websites, that allows you to empower your own freelance website marketplace similar to Elance, Freelance, Upwork, etc.It allows individuals to deliver any kind of work through the internet to stay connected with the company and people who are looking for sources to get their jobs done.

There would be Revenue earning for both types of users. Below are the details

Customer:

  • Commission (in %)
  • Featured Project
  • Wallet Commission
    • Deposit commission (in %)
    • Redeem commission (in %)

Provider:

  • Membership Plans
  • Adhoc Credits
  • Escrow Commission (in %)
  • Wallet Commission
    • Deposit commission (in %)
    • Redeem commission (in %)

Customer Side

  • Commission

Admin will set commission (in %) for customers. This percentage would be applicable to the total project cost

For e.g. if a project is finalized for $4000 USD and admin has set a commission of 10%, the customer will be required to pay a total of $4400 USD. Here $400 USD will go to admin and $4000 USD will go to provider, as per the agreed milestones

Admin commission is to be paid in full by the customer before the project gets started i.e. before ‘HIRED’ status

Customer Based
  • Featured Project

When a customer posts a project, he would have an option to make that project featured. While choosing to make a project featured, the customer would have an option for entering no. of days for making the project featured. Accordingly, he would be asked to make the payment

Featured Projects would be displayed before other projects on Search result page

  • Wallet Commission

Admin will set commission (in %) for the funds being deposited to and redeemed from the wallet. This percentage would be applicable to all the transactions

For e.g. if the user is depositing $1000 USD in his wallet and the deposit % is set as 5%, $50 USD would go to admin and the remaining $950 USD would be seen as credit in his wallet. Similarly, if the user is redeeming $1000 USD from his wallet and the redeem % is set as 3%, $30 USD would go to admin and the remaining $970 USD would be redeemed to him, thereby deducting the wallet balance by $1000 USD

Provider Side

  • Membership Plans

Membership plans would be created by admin for providers to purchase credits. These credits would be used by provider to bid on unique projects

Following details would be required to be entered while creating a plan

  • Plan name
  • Plan description
  • Plan image
  • No. of credits
Provider Based

Payment gateway to be used would be PayPal Standard

  • Adhoc Credits

User will also have an option to buy ad-hoc credits. Admin will set price of one or multiple credits from admin panel. If user wants to buy additional credits, he would be asked to enter the quantity and depending on the amount of credits price, he would be asked to pay

Payment gateway to be used would be PayPal Standard

  • Escrow Commission

Admin will set Escrow commission (in %) for providers. This percentage would be applicable to each of the milestone payment which provider will get upon successful completion

For e.g. if a project milestone is finalized for $1000 USD and admin has set a commission of 5%, provider will receive $950 USD in his wallet

  • Wallet Commission

Admin will set commission (in %) for the funds being deposited to and redeemed from the wallet. This percentage would be applicable to all the transactions

For e.g. if the user is depositing $1000 USD in his wallet and the deposit % is set as 5%, $50 USD would go to admin and the remaining $950 USD would be seen as credit in his wallet. Similarly, if the user is redeeming $1000 USD from his wallet and the redeem % is set as 3%, $30 USD would go to admin and the remaining $970 USD would be redeemed to him, thereby deducting the wallet balance by $1000 USD

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