Start up budget

In order to plan out expenses, here’s a modest budget I use when launching a new eCommerce site. You can certainly find ways to spend less, but I’ve found that a budget between $500 and $1000 is a good place to start.

Domain – Your website’s address. example, www.yourwebsite.com. You can register a domain from Godaddy or 1&1 domain. Regular price for a domain is around $12/yr though you can often find discount codes by searching for them on Google.

Hosting – It’s where all your files and software is stored. It’s your home base. Selecting a reliable host is critical to the success of your business, so choose wisely! Popular host providers include HostGator and Dreamhost. Average cost for a shared hosting plan is around $4/mo-$7/mo.

Hiring a Developer/Helper – Unless you have experience with web design and development, you’re going to need help creating your website. Fortunately you can hire a freelancer for pennies on the dollar from sites likes upwork.com, freelancer.com or elance.com

Theme/Template-  Pay hundreds or thousands of dollars for a custom website, OR buy a template from Themeforest.com for around $75 and use your developer (see above) to customize the theme for you.

Plugins/Apps – A smartphone comes equipped standards features, but if you want additional functionality you need to download/buy an app. Similarly, if you want extra features for your website, you can find and buy an app.

Pictures and Graphics-  You can’t put a price on high quality images and graphics. Sites like graphicriver.net and photodune offer affordable stock photos for any website. Canva.com is another great resource for creating graphics for websites and social media

Product Photos-  Product photos make or break or sale. Hire a professional photographer to take high resolution images of your products. Craigslist is a great place to find affordable photographers.

Next: Picking a Business Model