KARMA-NOMICS 101: THE BAGEL SHOP
Bob has owned Bob’s Bagel Shop for over a decade in Anytown, America. Not only does he make the best bagels in town, he’s also one of the biggest do-gooders in his area, regularly volunteering at his local dog shelter and soup kitchen.
When Bob heard about KarmaHub, he immediately thought it would be great if he could give out free bagels to other people in his area who also take pride in making their community a better place, but he wondered, how does it work? And will it cost him any money?
Let’s take a look at the Karma-Nomics, The 1% Cap, and how Bob Benefits
•Bob signs up for KarmaHub and agrees to accept KarmaHub QR Coupons at his business, presented by Volunteers who have earned Karma Tokens by volunteering in the KarmaHub Ecosystem.
•Bob Bagel Shop generates $100,000 in revenue. Bob pledges up to give 1% of his bagel and coffee sales into the KarmaHub Ecosystem (up to $1,000)
•For every $1 in value of KarmaHub QR Code Coupon redeemed at Bob’s Bagels, Bob pays KarmaHub a $0.03 (3%) transaction fee.
With the 1% cap, Bob will pay KarmaHub at most, $30 total for the year if all $1000 worth of coupons are redeemed as his shop.
•Susan is walking down the street see’s a sticker “Karma Tokens Accepted Here!” in the window of a bagel shop she’d never been to before, but always wanted to try.
•She remembers she participated in a KarmaHub Volunteering Event just a few weeks earlier at her local food pantry and generated 3 Karma Tokens one for each of the hours verified by the pantry.
•Susan walks into Bob’s bagel shop and orders a dozen bagels, an egg sandwich and a large cup of coffee. The total comes to $20 plus the state 7% sales tax, for a grand total of $21.40
•Susan takes out her phone, converts 1 of her Karma Tokens into a $15 KarmaHub QR Coupon Code. She keeps the remaining 2 Karma Tokens in her KarmaHub Account
•Bob scans the KarmaHub QR Coupon Code with his business version of the KarmaHub App, the code verifies, and the $15 discount is applied.. Her new total is $6.40 which she pays for on her credit card as she normally would ($21.40 total – $15 coupon = $6.40)
•When the QR code is verified at the point of sale, the Karma Tokens and their respective coupons self destruct, and payment token is deployed.
•A transaction fee of 3% of the redeemed coupon value is automatically deducted from Bob’s business account and transferred to KarmaHub.
In this example, Bob paid KarmaHub a $0.45 fee ($15 x 0.03 = $0.45).
•Susan is now a regular customer, and she comes back twice a week for coffee and a bagel … sometimes she even brings a friend, who also becomes a new customer for Bob.
•Since joining the KarmaHub Ecosystem, dozens of others in town have volunteered for their local non-profits, and he’s given out discounts totaling just under $1000 in the past year, a mere one 1% of his sales, and he has increased his business by 10% thanks to all the good Karma generated by his participation