Building an Ecommerce store is important for your business to stay ahead of the competition. It also builds a connection between your users and your brand. Your company’s growth and success will be determined by your Ecommerce website. However, the crucial question that everyone faces before building an Ecommerce store is how much it would cost to build one?
There is no formula and an exact answer to determine the right cost as numerous factors come into play, and each of them has a direct impact on the overall costing. We have listed a few important considerations that will help you estimate the right cost based on your business needs and will also help you in the selection of the right development company.
Having clarity on these considerations as well as having a clear action plan will not only help you estimate the right cost for developing and running an Ecommerce store but will also ensure that you do not overshoot your budget.
1. Ecommerce software
Ecommerce websites’ costs can vary based on design, out-of-the-box features, chosen software, and services provided. There are several platforms (Shopify, Magento, WordPress, WooCommerce, etc) to choose from based on your requirements. There are many pros and cons of each of these platforms, and the selection based on your business needs will greatly affect the cost of your Ecommerce website.
The cost of developing an Ecommerce website based on basic features on these platforms can vary between $5,000 and $15,000. However, customizing advanced features will require a bigger budget depending on the features/functionalities.
2. Domain name and hosting
Your company’s domain name is one of the smaller cost components in your Ecommerce website. Typically purchasing a domain name via GoDaddy, Hostinger, Bluehost, etc, costs between $5 and $20 per year. Prices vary depending on the uniqueness of your choice as well as the extensions (.com, .shop, etc).
After you have registered a domain name, you will have to find a web host. BigCommerce and Shopify, for example, are cloud-based solutions that include web hosting as part of the subscription. This implies that you won’t need to opt for third-party hosting or the myriad challenges involved in website management. A typical website hosting plan can range from $40-$200 per year. Securing your Ecommerce website is important given the personal data of your customers and an SSL certificate can cost between $70 and $300 per year.
3. Website design
Business’ success largely depends on the User Experience you would provide. Creating a unique user experience involves building store themes and using add-ons, plugins, and extensions. Some standard costs are associated with the design. This includes –
- Store theme and design costs: In Ecommerce platforms, some themes may not cost anything more than what you already paid to use the platform. However, there are paid themes that cost between $60 to $200 per theme.
- Add-on, plugin, and extension costs: Depending on your business needs, you would require add-ons, plugins, and extensions to your selected platform. These could be integrated with CRM, email marketing solutions, inventory management, chatbots, etc, and come at a cost that varies based on the platform. For example, Magento add-ons typically require expensive custom development. Magento’s marketplace has thousands of extensions that vary in price and can go up to $15,000. On the other hand, Shopify merchants have access to hundreds of free and premium apps with varying prices.
4. Payment Gateway
There are payment processing fees that are paid to payment gateways (such as PayPal, Stripe, etc) as users make payments online on your Ecommerce website. These prices depend on the volume of transactions, geography, total amount, etc.
5. Marketing and SEO
Product marketing, SEO, and analytics help create brand awareness and drive traffic to your online store. These costs will depend on your business objectives but should be factored in while creating an Ecommerce store.
Running an Ecommerce website required timely attention and maintenance. These could be technical maintenance (version upgrades, bug fixing, feature enhancements, etc) as well as store maintenance. Maintenance costs depend on the size of the Ecommerce store. A typical small to medium-sized business requires maintenance spend between $500 to $1,500 per year. For bigger businesses with high customizations, a higher maintenance budget is required.
Your business needs to have a feature-rich and robust Ecommerce website. If you’ve any doubts related to Ecommerce platforms and if you need assistance developing one, then feel free to talk to us here.
We, at Galaxy Weblinks, specialize in developing the best online experiences for your users. We have expertise in customizing websites using multiple platforms, be it Shopify, Woocommerce, Magento. Contact us for your Ecommerce project today.