Cost of Opening an Online Store

[Mika]

If you have plans to create an online store, you might be wondering how much money, you will have to spend to create your own online business. Here is a cost breakdown.

First of all, you need a domain, you can get a dot com for $8 on Namecheap. You need VPS or higher hosting. The cost of basic VPS hosting is about $95 on Namecheap. The domain and hosting charges are yearly charges.

You can use free or premium content management. If you use woo commerce, there is zero cost. You might also have to use a premium theme and plugins with woo-commerce, and you might encounter $200 additional cost.

If you want Shopify, you will have to pay $384 for a basic membership plan. For Shopify, you might have to use premium add-ons, which might cost you an additional, $200.

You will also have to do SEO and digital marketing, with might cost you an additional $500.

So, generally speaking, if you want to create your own online store you will have to spend about $800 for woocommerce store, and about $1100 for Shopify store.

 

[Suba]

Thanks for sharing, your discussion can be used as a basic benchmark for the current price to open an online store. Although the cost of building an online store varies greatly, each store will have different costs with other stores. and will really depend on the server resources we need, the more visitors, the bigger the server we need and of course will make a different price. Also the more features that we will install will also increase the price or cost of creating an online store. What if we use wordpress and shared hosting will be cheaper for beginners.

 

[Jasmine]

Based on what I have read here, I will need $800-$1100 to setup an online store, do SEO and digital marketing, and generate sales. The cost break down does not include the amount we need to spend in order to manufacture the products or source products. Maybe we need to spend additional $2000-$3000 for products, either to procure or manufacture. After spending this much amount, can I actually make money from my store? Well, there is no guarantee. So, unless you already have a lot of experience selling online or running an online business, or have spare money, I do not think you should take the risk. A better approach is to use existing ecommerce platforms to sell products. By using ecommerce marketplaces, you will save money on building store, and comparatively selling also becomes easier as existing ecommerce platforms already rank high on search engines have a huge organic traffic Therefore, I suggest you try selling on Amazon, eBay, Etsy, etc, before trying to sell from your own store.