What is the Cost of Owning and Running a Magento Site?

Are you planning to build your online presence with an effective website? Then creating your website with Magento can be the best option for you. It is because Magento offers an incredible blend of scalable design and a giant support network. In addition there is a large community of efficient Magento developers across the world. So if you are a business owner no matter whether it is small or large, it is important for you to shift your retail store into a digital marketing platform especially in the recent time when the world is under the threat of CORONA virus that causes COVID-19 pandemic. The only thing that you have to do is to hire magento developers of a reputed web development company who can create an online portal with several attractive features and functionalities. So don’t waste time as it is the best time for you to start your ecommerce store.

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Know About Different Types of Magento Editions:

Have you decided to build your ecommerce site with Magento? That’s great! But before you opt for the best Magento development solution, there are several important things that you should keep in mind. The first important thing that you should know while choosing Magento as your ecommerce platform, is its different editions. You can select between three Magento platform versions for developing your ecommerce store which include: Magento Open Source, Magento Commerce, and Magento Cloud.

1. Magento Open Source: It is a free Magento ecommerce solution that you can use by downloading it. If you have a small business or startup, it can be a good option for you to set up a Magento store without much investment. Magento Open Source platform is featured with

  • Restricted functionalities
  • Limited scalability
  • No support

2. Magento Ecommerce Edition: This Magento edition comes up with more functionalities than the Magento Open Source platform. So if you need more customized features in your ecommerce store, you should go for Magento Ecommerce Edition, which has several striking features including:

  • High scalability
  • Gives technical support with configurations
  • Troubleshooting to guarantee
  • More customized featured
  • Flexible scalability
  • Advanced features

3. Magento Commerce Cloud: It is the cloud based ecommerce solution offered by Magento. It supports all Magento commerce features and also can run on Amazon Web Services with some additional features. So if you want to build an excellent ecommerce website that can help you to grow your business more efficiently, opt for this advanced solution of Magento with its unmatched functionalities:

  • 24/7 support
  • Easy customization
  • Hosting solution
  • Consider using Magento cloud

So as you get the idea of different Magento platforms, now it is your turn to choose a platform that will suit your business needs. But make sure you are hiring the best Magento Development Company while choosing a Magento platform with varying development costs. Therefore, to pick a specific edition, the main thing that you need to consider is the Magento development cost, which is one of the major concerns for the business owners.

How Much Does it Cost to Develop an Ecommerce Site with Magento?

Let’s explore the current price ranges of building and running an ecommerce site with Magento:

  • Magento License Cost: As you know there are two editions of Magento including a Community Edition without fee and an Enterprise Edition with yearly license cost. Before you choose an option between the two, consider your business type and the amount you can spend. If you select the community edition, you don’t have to pay any fee; again if you are choosing Magento enterprise, you have to pay fees depending on your yearly sales. Now look at the below table that will help you to get a basic idea:

Gross Sales Revenue : Magento Enterprise Edition (EE) Cost

$0 – $ 1 million : $ 22,000.00

$ 1 -$ 5 million : $ 32,000.00

$ 5 – $ 10 million : $ 49,000.00

$ 10 – $ 25 million : $ 75,000.00

$ 25 – $ 50 million : $ 125,000.00

  • Magento Website Domain Cost: Do you know that the domain of a site is the only way for your customers to reach out to you? Now you can easily understand how important the domain is for developing your ecommerce store! But it is not an easy task to buy a domain, as it is important to find a unique domain name to attract the attention of your target customers. So let’s find out the prices of different types of domains and choose according to your business needs and budget.
  • Brand New Domain: If you opt for a brand new domain, it may charge you from $ 10 to $ 15 a year.
  • Ager Domain: This type of domain is cheaper than the brand new domains. If you get an aged domain in hundreds or thousands of dollars.
  • Hosting Service: Hosting service is important for an ecommerce website to be active on the online platform. There are three hosting servers available including: Virtual private server, Shared server and Dedicated server. If you want to reach your customers more efficiently, and inspire them to read the content of your website so that they can turn into potential customers, you must hire a Web Development Company to host your site. 

Again you can also buy Magento themes that range from $ 0 to $ 200 in the marketplace.

  • Web Development Cost: You can opt for the best web development service from both hiring a web developer or a web agency. If you choose the first option, you have to invest $ 15 to $ 80 per hour and for the second option, you have to invest around $ 50,000 for a basic site or around $ 250,00 for Magento Enterprise Edition.
  • Extension Cost: Though there are no fixed ranges to calculate the cost of Magento extensions, roughly it can range from $ 1,000 to $ 2,000.
  • Cost for Customization: Customization is such a process that can enhance the overall quality of a site. But it does not merely refer to including more features and functionalities of your website, but enhancing the performance of your site including website update, speed optimization, security enhancement, adding SEO features etc. If you Hire Magento Developers, they can offer you customization services from $ 15 to $ 80 per hour.

The Bottom Line: 

Now it is obvious that you have come to know about the basic Magento development costs after reading this guide. It can be summarized by saying that you have to spend $20,000 to $40,000 for developing a basic Magento site. But if you want to develop a customized Magento website you have to spend a roughly amount of more than $ 100,000. 

Though you may consider it costly to develop a Magento site, in reality it will help you to double your profit and run your online business more prominently.

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