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#business

Getting prices, wages, and profits right

Platforms are two-sided. They connect two distinct user groups who need something from each other, e.g. clients and interpreters. A platform can function only when both groups are present. It means that, as the platform operator, we must be focused on attracting and retaining users. How do we do that? By looking after the interests of both parties and making the terms of the bargain good for everyone. Neither group must be favoured over the other nor exploited for the sake of profits. We made sure our business model will reflect that:

  1. We will charge modest co-op fees on every booking. Thanks to automation our profit margins can be notably lower than at translation agencies.
  2. We reject the idea that the only way to make a profit is by putting a squeeze on interpreters. That's why clients will pay a separate platform service fee for every successful booking. This will take the pressure off the interpreter wage and help limit co-op deductions to no more than 15%.
  3. We will introduce an optional subscription-based model for interpreters. In exchange for a small monthly fee, they will gain access to more opportunities and extra services provided by us.

Regardless of subscription or membership status, wages and terms will be the same for all interpreters:

  • guaranteed minimum payment,
  • satisfactory travel payment,
  • progressive cancellation fee,
  • curtailment fee for 2hrs+ bookings,
  • hourly charging (no 15-min. increments),
  • five possible wage uplifts,
  • full transparency.
  • hourly charging (no 15-min. increments),
  • five possible wage uplifts,
  • full transparency.