If you are a business owner you are probably aware of the amount of money that you need to build your store and then run it effectively. Lots of business owners are discouraged by the required investment.
Cost To Build An E-commerce Site From Scratch
However, there is now an option that they could use to successfully start and grow their business. That is e-Commerce. Ecommerce means that you sell your products and services on the internet through an online store instead of a traditional brick-and-mortar store.
Ecommerce is much cheaper, easier, and less time-consuming. Let us discuss how much it will cost you to build an e-commerce store from scratch and what all areas do you need to spend on.
- The platform that you choose to host your website
Nowadays there are plenty of platforms that you can choose from to host and build your e-commerce store on. Some of these include names like Shopify, Magento, and Woocommerce. Some other hosting companies are Bigcommerce, Cloudways, etc. However, there are many others too. On platforms like Shopify, you can build your store for free. They offer a 14-day free trial so you can put your online store into action and kick-start your business without any investment. After the 14 day, free trial is over you can choose one of their payment plans based on your needs and budget. Their cheapest plan is 29 USD that is advisable for new businesses. So the first thing that you have to pay for is the hosting of your website.
- Web Designing costs
Simply having a website is not enough. You also have to design it well to attract customers. While most platforms offer features that you can use to do some basic designing yourself but for a professional look, you have to hire a professional designer who can make your website look premium and eye-catching. You should know that web designing is a service that falls on an expensive site and on average could cost you around 500 USD for basic designing.
- Domain Name
A website’s domain name is often overlooked but it is a crucial factor in the way your company performs. It is best if you choose a domain name that is short and simple. However, a domain name of your choice might not always be available and you might have to pay to get the desired domain name. The good news is that domain names won’t cut a hole in your pocket. They can be available for as little as 2 USD for a year.
- Payment gateways
It is obvious that an e-commerce store accepts payments online. This is made possible through different payment gateways. The charges for payment processing vary from platform to platform and are important to consider while starting an e-commerce store from scratch because they will eventually influence your product pricing and other decisions.
To ensure that people know about your e-commerce store you have to spend some money on marketing. This includes paying for advertising on platforms like Google, YouTube, Facebook, etc. while you can always use your social media pages to spread the word around, a little investment in advertising will boost the traffic quicker and attract a larger number of potential customers.
Starting an e-commerce store is cheaper than a physical outlet but it still requires some investment. Some of the necessary expenditures include those on a neat and short domain name, hosting the website, payment gateways, website designing, and marketing. Some of these services are available for a cheap price while others are a little costlier. You can pick and choose the expenditure based on your priorities and budget. There are other areas where you can spend money, such as product photography, to enhance your e-commerce store but they aren’t necessary to build the website.