Before starting your online store, it is important to carry out a feasibility study. In this post we will focus on analyzing all the expenses that are necessary to create your store.
The first thing we have to take into account is what kind of electronic commerce platform suits us. Open source ecommerce solutions and hosting solutions such as Magento are the recommended choice as they are both cost and functionally effective.
For an open source platform, you will need a hosting service or a virtual server when you have more visits.
The domain is a small initial investment that usually costs a few dollars if the domain is not registered. If you need a domain that is already registered you must buy it. There are people who make their living speculating with domains.
Design is very important if you want a professional store that sells. In the case of open source options templates cost about $50. In the case of ecommerce platforms with hosting included there are free templates and you can also have customized ones for about $300.
The most important thing to select a platform is to know where you want to go with your store. Normally if you start and do not need very specific functions, a platform with hosting will be much better because you will not have to worry about anything technical with a controlled cost.
The thickest item in the budget of your online store is the marketing of your store. You should make a forecast of how you will attract visitors to your store, and which of these you will end up buying. The ideal cost depends on the means you will use to attract visitors. But to begin with, it is logical to let experts such as Synthesis Studios do the marketing bit for you. We make sure you consider us an investment rather than an expense!
You must take into account some hidden costs that usually go unnoticed at the time of creating your online store.
- If your project grows, what costs should you assume? Cost of servers in the case of open source platforms to support traffic peaks.
- Graphic material. Unless you are an expert in photography, you will need quality images so that your store looks professional and generates confidence. Synthesis Studios are experts with image and video marketing, so we have got you covered on this.
- Inventory. If you have a physical store, it does not precoat you at first, but you should think about a year if you are going to need to have an inventory and how you are going to store it. Think of a cost of 30% of the sales for your inventory costs.
If you are thinking about selling online you should first make a budget so as not to take surprises later that prevent you from achieving your sales goals.
