Hello, I am currently building my shop and am having issues with figuring out pricing for both products and shipping. I have decided to go with the print on demand rout using my own graphic designs and Teelaunch as my supplier.
As a Canadian with a CAD bank account I have to use CAD as my shop's currency (I do not want to open a USD bank account at this time). The issue is that Teelaunch (and other suppliers) charge in USD making it difficult to calculate product and shipping costs. Here is a link to my Google Drive containing an image of my calculations for one product so far. Issues include the fact that shipping cost varies between products and shipping destinations around the world. I have added an app to allow customers to view the prices in different currencies but they still need to purchase in CAD at checkout. An added issues is if I calculate my prices as shown in the picture I would constantly need to adjust the price based on the fluctuations in the currency exchange to compare my prices to the USD to compensate for the need to pay Teelaunch in USD while maintaining reliable product pricing and profit.
Does anyone have any suggestions on how to approach this issue or know of any apps that can automatically change my product prices based on the comparison of the CAD to the USD? And how should I approach sipping for different countries?
Aria here, one of the Social Care gurus at Shopify. :)
What you've described is definitely complicated. We have quite a few currency converter apps but I'm not aware of one that will change your prices, depending on the current exchange rate. I'd strongly caution against doing that anyway. If I go to your website and a t-shirt is $18 then come back to buy it and it's $20, I'll be confused and I won't buy it.
I live in Canada too. I do my banking with TD Canada Trust. I have my main checking account with them and they opened a USD checking account for me too. It was a fairly quick phone call to set it up. I also got a USD Visa card. If you're trading with a US business, you will save a lot of money by having your bank transactions in USD. Constantly converting currency for payouts and purchasing products from your supplier will lead to a financial mess.
If you're sure you don't want to open a USD bank account, another option would be to dropship from Canada instead. Art of Where is based in Montreal. They do print on demand but they don't sell t-shirts so you may need to reconsider your products if you were going to use them.
With regards to Shopify, you need to look at the shipping rates with whatever company you are going with and set up flat rates in your admin accordingly. Some print on demand companies have shipping rates you can import, otherwise, you'd need to set them up manually. You can find the Teelaunch shipping rates here. You can find instructions on how to set up your shipping rates in this guide.
I hope you manage to figure out a solution that works for you. :)
Social Care Guru
Thank you for your response.
I bank with Simplii Financial (formerly Presidents Choice) and they unfortunately don’t do USD accounts. The reasons you stated is definitely other issues I am struggling with. The issue I have with opening a new bank account is that I don’t know if my shop will take off or not.
Thank you for recommending Art of Where, I had looked for Canadian suppliers with no success. I will definitely consider using it as I feel going Canadian is the best option for me at the moment. I could probably move my store direction into women’s apparel to start (I actually find it easier to design graphics for women) and maybe add tees and other things in the future if the store takes off.
Thank you very much for your help.
Aria again. :)
Shopify Payments is powered by Stripe, so in countries where Shopify Payments is an option, Stripe is not an option. You can use Paypal for sure but I'd also make sure you have a credit card option in case your customer doesn't have a Paypal account.
The most cost-effective method is to use Shopify Payments as you won't have to pay any transaction fees as long as it's set up. You can have Paypal Express as a secondary gateway in case your customer doesn't have a credit card. You can find full details on pricing here, including credit card fees for Shopify Payments and transaction fees in the event Shopify Payments is not set up. You can find the full list of payment gateways available for Canada in this guide.
I hope this helps. :)
Social Care Guru
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