Insight into start an E-commerce platform
How Much Will It Cost to Keep Your Business Online?
It’s 2020. You can no longer run a business today without a strong online presence.
Entrepreneurs know that building a website, making online sales, and developing your presence on social media platforms is essential to success. But how much will it cost to get your business online?
Decide the Services and Features You’re Willing to Offer
This will help you zero in early on an approximate cost of your business’ online presence. There’s no need to pay for products and features that your customers aren’t interested in purchasing. Select the services and features that you’re capable of offering online and fix this list early on.
After you’ve made this list, it’s time to set the budget.
You’ll need to take the following costs into consideration:
- Online Store
Are you planning on selling your offerings directly to businesses or customers online? Then you should consider adding payment processing and shopping features to your website.
There are several different options to choose from. You can either go for custom e-commerce solutions, which may cost you thousands of dollars, or go with a free template, which will charge a commission on every sale you make.
Your website content plays a crucial role in generating sales for your business. Stunning visuals and eloquent text can leave customers impressed at the scale of your business.
If you’re unwilling to spend money, it’s possible to create these visuals on your own. However, you can also delegate these goals to one of your team members. Marketing agencies, freelancers, and specialized firms can help you develop stunning website content as well. Some business owners prefer to have different teams handling different aspects of their website.
- Web Design
A well-designed, functional website requires money and time. Designing websites is no easy affair – it’s an art.
You may simply create a free informational website with the help of an online template to serve your company’s purposes. However, we recommend engaging the services of an expert to develop a professional-looking site, which will gain you more sales.
- Software Expenses
Software expenses are dependent on your overall objectives. However, there are many ways to mitigate costs. First, search the Internet to discover open-source software, available for free to users, which can be repurposed for your business.
Almost every software application has an open-source equivalent. Keep in mind that their usability and quality may not be as good as proprietary software products.
If you’re interested in purchasing a software product but don’t want to pay upfront, see if the developers offer a subscription option. Not only does this allow you to update to the latest version, but you can also shift to other products as and when you like, depending on the growth of your user base.
- Hardware costs
Computer systems and their costs should be included in the budget along with peripherals like keyboards and printers. Some business owners prefer to lease their hardware in order to reduce upfront expenses and amortize costs over a long period of time.
If you’re hosting your own site, you will also need to include the costs of equipment like servers. This won’t be necessary for most business owners though. As long as your business doesn’t have any special performance or advanced security requirements, you’ll be fine with a web-hosting package.