Magento Pricing : Cost To Build An eCommerce Store
It’s a worthy question to ask how much it costs to manage an eCommerce site on the Magento platform. The way of building a website and its appearance and functionality all rely on website cost estimation. Also, the simplicity with which a buyer can complete the purchase procedure is significant for online business success
Therefore, knowing the correct Magento eCommerce website development cost will help you determine the appropriate budget and all associated costs. Numerous aspects make the cost estimation complex, but the most essential is the eCommerce store objectives. This is because licensing is based on the type of business, and when the goals change, so do the prices.
So, let us now uncover the aspects impacting the eCommerce site development in detail.
Factors Influencing Magento Pricing
For Magento store development, all business owners want a precise cost estimate. However, the following are the most important aspects of all
- The key features and appealing storefront design that your business requires for better performance and customization.
- The integration choices and their types including payment gateways, shipping service providers, or third-party solutions. These may involve CRM (Customer Relationship Management), PIM (Product Information Management), and more.
Magento eCommerce Website Development Pricing Summary
1. Magento License Cost
You would be aware of Magento’s 3 editions. And for each of these, pricing varies.
- Magento open-source is completely free of cost.
- However, Magento Commerce Cloud and Commerce provides robust features and functionalities by default. Thus, their annual license pricing will depend on your store’s annual revenue.
2. Domain Name Cost
The domain name, in simple words, is referred to as the store name. Thus, pick the name that reflects your business and offerings. However, ensure that it should be attractive and easy to remember.
You have two choices. Either you can opt for an expired name or go with choosing the brand new business URL.
- Expired one will generally cost you between $20to $500 per year.
- New domain names are priced from $10 to $15.
3. Magento Hosting Pricing
You won’t have to worry about expenditures because the Magento Commerce Cloud licensee already offers managed hosting.
The costs of Magento Commerce and Open Source, on the other hand, differ. They require specific storage to function properly. Dedicated, cloud and other types of hosting are offered. Pricing will be determined on functionality and performance and will range from $10 to $50 a month on average.
4. SSL Security Certificates
Obtaining an SSL certificate is required to improve the Magento website’s security. Furthermore, it is necessary to ensure the site’s and data’s security.
Its average price ranges from $50 to $300.
5. Magento Web Designing Cost
The cost for Magento web designing may include two things. You can opt for:
- Readymade theme or
- Designing a customized theme
The expense of developing an eCommerce store ranges from $0 to $180. However, if you want to hire an expert web designer, the price would differ.
- Magento developers may charge by the hour, and theme customization might vary from 40 to 160 hours.
- Hence, $40 as the minimum hourly wage, a total may range around $5,000.
When it comes to bespoke design implementations, it’s necessary to think about customer’s mobile usage. As a result, for a better client experience, assess the theme for website responsiveness on various devices.
6. Magento 2 Development Cost
Different pages of an eCommerce website contribute to enhancing customer retention and engagement. It consists of:
- Product page
- Category page
- Shopping Cart page
- Payment and Checkout page
Magento developers require time to modify all of these pages, regardless of whether you utilize the free pre-made Magento themes. The work could include the following:
- Banner designing
- Changing icons, font size, etc.
Thus, the typical cost charged by a Magento developer may be around $50, resulting in a starting cost of $1800 for website creation.
7. Cost of Magento Extensions
The Magento platform offers the basic company store’s functionality. However, it works well with the following extensions:
- Improved Navigation
- Advanced search
- Customer service features
Advanced and high-quality extensions, on the other hand, demand a one-time cost. The cost could range from $60 to $600, depending on the service provider’s reliability and the capabilities offered by the extensions.
8. SEO Pricing
Investing in Magento eCommerce site development is not adequate. You must make your online store appear higher in search results. Online businesses are highly competitive and need SEO and promotion to draw clients. Alternatively, promotion services could cost anywhere between $10,000 and $40,000 per year.
Additional services you receive when you hire Magento developers who specialize in SEO are:
- Competitor Analysis
- Website Review
- Page Speed
- Website Performance Optimization
- Keyword Analysis and Research
- Google Analytics and Reporting to analyze and report on your Google searches
9. Graphics and Promoting Materials
Every brand store needs an online presence to keep the company ahead of the competition.
Hence, photos, visual components, logos, also known as collaterals, are the answer to reflecting brand presence. All of this would necessitate professional help and knowledge. Experts may charge between $23 and $25 per hour for this service.
10. Payment Gateway Service Providers Costs
Stripe, PayPal, and Authorize.Net are some of the most popular eCommerce payment platforms, accounting for roughly 75.6 percent of all payments. The best part is that none of these options require any setup fees.
Charges for successful sales, on the other hand, are 2.9 percent +0.30.
11. Magento Outsourcing Development Pricing
Employing freelancers is usually a cost-effective choice. This means the quality will be determined by how much you pay. When you hire a reliable agency, you’ll get a dedicated developer and project manager for having constant communication until the job is finished
The hourly rate of a freelance developer, on the other hand, maybe around $60.
12. In-House Magento Developer Hiring Costs
While outsourcing projects is always an option, numerous organizations prefer to hire in-house experts. The huge advantage is that it allows for a faster turnaround time and greater project control.
Hiring a junior web developer will set you back anywhere between $60,000 and $80,000 per year. The cost, on the other hand, will rise as the developers’ experience grows.
13. Magento 2 Store Support Cost
Active support services are essential to avoid any online store troubles, faults, or glitches. For Magento 2 customer service, you’ll need to hire developers, which may cost you around $40,000 per year.
14. Magento eCommerce Store Maintenance Cost
For performance maintenance and outcomes, an online eCommerce store needs to be maintained regularly. This shows how much money you’ll have to spend on website upkeep. When it comes to security, you might think of updating security patches or updating apps. However, the cost is determined by the frequency, scope, and expertise necessary for the service.
And the price range for this may begin from $80/hr to $125/hr.
The Bottom Line
So, there is no set price for developing a Magento eCommerce website. It depends on whether you engage Magento custom extension development services or have the work completed by in-house expertise.
Apart from that, selecting a reputable service provider has a significant impact on development costs. In the long run, though, the store will see increased sales and success.
To sum up, consider the following:
- Pick the Magento edition that best suits your company’s needs
- Select a business domain name that reflects the image of the company
- Make the best decision for a hosting service provider
- Choose the features and functions that your Magento site will require
- Select a trustworthy Magento eCommerce website development firm
As a result, if you’re keen to combine your offline store with the Magento platform, come see us at Magentofx. We are a leading Magento development firm that uses the best development strategies and methods to provide Magento development services at a reasonable cost.
If you want to create an eCommerce store on the Magento platform, hire the developers from us. Our professional experts aim to create an engaging, intuitive, and high-performance Magento 2 store for your enterprise.
Thanks for Reading!!