Cooks receive 70% - 80% of order earnings, with the remaining 20% - 30% accounting for the Marketplace Fee for use of the Cookin platform.
TIPS: Cooks will receive 50% of any tip paid by Customers on the Cookin Platform with respect to a Cook transaction on the Cookin Platform. The Third Party Delivery Driver will receive the remaining 50% of any such tip.
Payment Processing Fee
Cooks will also be responsible to pay for a component of the total payment processing fee charged by the third-party payment processor for each transaction on the Cookin Platform.
The total payment processing fee for each transaction on the Cookin platform is calculated using the following formula:
(gross food subtotal revenue * 2.90%) + $0.30
The component of the total payment processing fee that Cooks pay is dependent on whether they cook from home or a Cookin Kitchen Space.
Those who cook from home will pay 80% of the total payment processing fee while those who utilize a Cookin Kitchen Space will pay 70% of the payment processing fee.
Weekly Payouts
All Cookin payouts are made directly to your Stripe account once per week. A payout processing fee of $0.25 + 0.25% of the amount requested will be charged upon withdrawal (by the third-party payment processor). It can take a couple of business days for those payouts to be accessible after that in your Stripe account. Once the funds reach your Stripe account, you'll be able to transfer the funds out to your personal bank account.
For more details on setting up a Stripe account, click here. For details on withdrawing your funds from your Stripe account, check out this article.
Please reach out to Stripe directly if you need further assistance with their platform.