Planning to Build an Online Store? Here’s How Much it will Cost
January 5, 2022Thanks to rapid digitization across the globe, we’re witnessing a remarkable surge in the number of online stores. Most of the people starting have no previous experience managing an eCommerce store, and that’s okay.
You don’t need to have a Ph.D. to start an online business, but you need to have basic knowledge of the things that matter. Ecommerce store setup cost is one of those things that you should be aware of amid In this post, we will talk about the costs involved in building your eCommerce store. Let’s get started!
Factors Involved in Ecommerce Store Cost:
Like most business owners, you’d like to hear the answer in numbers rather than reading details. So, let us say it out loud for you. To set up your eCommerce store, you might have to invest anywhere from $1000 to $100000. We know that’s not the answer you’re looking for.
The range is so wide because it all depends on what kind of online store you want to build and the features it will have. Let us give you an overview of the major factors crucial in determining online store development costs.
Domain Name Fees:
Registering your domain name is one of the first things you need to spend your money on. If you register a domain name, you’re reserving exclusive rights for its usage. You need to note here that you cannot register your domain name forever. You will need to pay it every year or every few years, whichever you prefer.
If you’re going for a normal name that isn’t much elusive, you can assume the yearly domain name costs between $2 to $20. If you want to have a domain name that has already been bought, you will need to contact the registrar. This is going to cost you a good amount of money.
Must Read: 10 eCommerce Trends in 2022 to Follow
Hosting Fees:
Many people from non-technical backgrounds assume that they have gotten an online space after buying a domain name. It’s not the case because you’ve only got an address by getting a domain name. You need to set up your shop somewhere.
Hosting is to an eCommerce store what shop is to an offline business. In simple terms, hosting is an online space to host your online store. It will store all the data, codes, and pretty much everything that goes in an eCommerce store.
You can get hosting services in various forms, but there are mainly two:
- Shared Hosting
- Dedicated Hosting
As the name suggests, shared hosting is something where you share your online space while dedicated hosting is exclusive for you. As you can guess, the latter is more expensive.
If you’re starting out and not expecting thousands of customers to visit your site every day, then you can go with shared hosting. The good thing about hosting is that you can always migrate your hosting plans. So, we suggest you talk to a good hosting provider to help you out.
Website Design & Content:
Before starting your online store, you should have a clear idea of what it will look like and its features. You can either go with a fully-customized website or build on a ready-made template. You can get the best of both worlds by hiring a good developer to add functionalities to your website.
Another investment you need to make is hiring a good content writer to write your website. You might think of doing it yourself, but content writers come with years of experience and know what to write to get the sales pumping in.
Ecommerce Software:
Every online store is powered by eCommerce software to manage and streamline everything in the backend. This third-party software can be easily integrated into your website to turn it into an eCommerce website. Some of the most popular ecommerce software are Quick eSelling, Shopify, Magento, etc.
With Quick eSelling hosted ecommerce platform, you can start your online store without paying any hosting fee and set up fees.
SSL Certificates:
Don’t go by the name; SSL certificates are nothing like certificates. They’re a piece of technology that protects your customers’ sensitive information such as passwords, credit card numbers, addresses, etc.
When customers enter their sensitive information on your website, an SSL certificate encrypts the information so that any hacker doesn’t steal or tamper with it. That’s why they’re essential for any eCommerce store. Moreover, all online businesses need to adhere to PCI standards, and SSL certificates are important.
An entry-level SSL certificate can cost you around $30 a year.
Payment gateway processing fees:
Often overlooked, you must consider payment gateway fees carefully as they’ll have an impact on your business in the long run. There are many companies offering payment gateway services in various plans. The plans are based on the type of payments and currencies you want to accept.
Here’s the breakdown of the most popular payment gateways:
- PayPal: 2.9% + $0.30 for transactions over $10.
- Stripe: 2.9% + $0.30 per transaction.
- Authorize.net – 2.9% + $0.30 per transaction + $25 monthly fee.
Database Integration:
If you want to succeed in any online business, you must be good with data. Database integration allows you to get insights into your customers by collecting useful information. This helps you make informed decisions as far as marketing is concerned. Often an underrated investment, database integration can be a real boost to your eCommerce store.
Our Two Cents:
While the eCommerce store can vary from four to six figures, the most sensible thing to do is find out where you are and what you need. Before you approach any developer, consultant, or service provider, you must be able to tell them what you’re looking for.
If you invest too little, you might need to reinvest soon if your business grows. If you invest too much, it can affect your business as it will take time to recoup the investments. Thus, you must put things on paper and move forward rather than figuring out your budget.
If all of this sounds too much work, then don’t worry. We at Quick eSelling can help you launch your online store in three easy steps, for FREE!
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