Starting a subscription-based platform for Creators
Hello, IndieHackers!đź‘‹
Let me introduce myself, I am Cyril. We decided to build a subscription-based platform where creators and influencers can monetize their influence by selling content for a monthly subscription or tips.
We know there are big platforms around like OnlyFans or Patreon. We believe, there is a huge opportunity for a new platform with great marketing and new features.
The platform is called EliteFans.
The development of the platform plus the legal side of the business, required more time and investment than we expected. We had to consult a lot with our lawyers, to prepare ale the documents and terms. The development took almost 6 months. But the goods news is, we are going live around next week.
We had some difficulties with the payment providers. We contacted around 15-20 different payment providers. A lot of them couldn't accept this business model. And the others, which have accepted us, are taking a huge fee. Something around 5% + 0.25cents. Since we have an 80-20% split rate. We keep only 20% of the revenue. If we had to pay from our revenue the payments processing fees. We would leave with almost no profits. But, we luckily found a payments provider which is taking a 0.8% + 0.20cents fee and accepting even adult content.
In the beginning, we never thought, that there is going to be a lot of expenses around (VAT, employees, licenses, servers, cloud storage, developers, lawyers, referral commission, and so on...). When we calculated all these expenses. We figured out, that all of this is taking and going to take a lot from our 20% commission.
See what EliteFans Platform has to offer for now:
đź’łMonthly Subscription
đź’ˇClaps "tips"
đź’°Referral program
đź’¬Message 1 on 1 with your favorite creators
⚙️Auto message sending feature
âś… Prompt and regular payouts
What we are planning to implement in a few months:
- Crypto payment and payouts
- Video calls 1:1
- Live streaming
I would love to hear your feedback!. Feel free to ask, if you have any questions. :)
