What to consider while building a Magento eCommerce site?

One of the most popular yet reliable eCommerce platforms globally is Magento. Since its inception in 2008, the platform has gained massive popularity from businesses of all sizes and niches. The robust platform prefers a wide range of features that aid in setting up scalable, efficient, and flexible eCommerce stores. Did you know that 2.3% of all the global online stores are powered by Magento? That clearly indicates the wide usage of this platform. Moreover, you can get extensive support from the active community of Magneto developers across the globe. Here, one needs to know more about Magento Cost 2022 in order to set up an adequate budget.

Magento eCommerce Cost Details

There are three different variants of Magneto that you can use to develop your eCommerce store. These include –

• Magneto Open Source (also known as Magento Community Edition)
• Magneto Commerce (also known as Magento Enterprise Edition)
• Magneto Commerce Cloud (also known as Magento Enterprise Cloud Edition)

Take a look at the Magento eCommerce site cost in India –

Features	Magento Open Source	Magento Commerce	Magento Commerce Cloud
Magento license cost	0	$22,000–125,000/year	$40,000–190,000/year
Domain name	$10–400/year	$10–400/year	$10–400/year
Hosting	$100–500/year	$500–6,500/year	0
Design	$0–5,000+	$0–5,000+	$0–5,000+
Development	$1,800–10,000+	$10,000+	$10,000+
SSL certificate	$50–300/year	$5–300/year	$50–300/year
SEO & digital promotion	$10,000–40,000/year	$10,000–40,000/year	$10,000–40,000/year
Payment providers fees	2.9% + $0.30 per transaction	2.9% + $0.30 per transaction	2.9% + $0.30 per transaction
Extensions	$60–600/extension	$60–600/extension	$60–600/extension
Total Magento development fees	$12,000-57,000+	$43,000-189,000+	$60,000-247,00+

1. License cost

The foremost factor you need to consider while estimating the total cost of Magneto eCommerce development is licensing. That is because here the price is fixed and you can have a more definite idea about budget allocation. There are numerous factors that play a crucial role in determining the exact price rate. Here, annual gross revenue plays a critical role. Once this is sorted, you can move on to the next aspect.

2. Domain name

The domain name of a site is important as that is the address your users will look out for while searching your store. For that, you need to choose a unique yet relevant domain name. That is the only way to grab visitors’ attention. There are two types of domain names – new domain names and aged or expired domain names. You need to choose the one that fits your budget the best. Moreover, you must also weigh the pros and cons of both before making a decision!

3. Hosting

For the Magento Commerce Cloud users, there is no need to worry about the hosting costs as it is included in the license pricing. However, other variant users will need to pay for it. In order to operate seamlessly and efficiently, you will need to buy the hosting services. There are various types available like shared, dedicated, and cloud. For this, you need to take into consideration the size of your business and the traffic rate.

4. Design

When it comes to the designing of the eCommerce store, you have two options. Firstly, you can use the ready-made themes available in Magento. However, you can also design a personalized theme. However, for that, you will need to recruit an excellent website designer. You need to take that payment into consideration too. In custom website design, one of the most crucial factors to consider is website responsiveness on different devices.

5. Development

There are various pages on your eCommerce website that needs extra attention. These include the home page, products pages, category page, checkout page, and shopping cart page. The Magneto developer has to optimize these pages and ensure that they are designed in a way so that you get increased engagement and conversion rates.

6. SSL certificate

Security is one of the most essential parameters of an eCommerce store. You cannot gain the trust of the customers without integrating high-tech security systems. For that, you will need to purchase the SSL or Secure Sockets Layer certificate. It will increase the safety and reliability of your website.

7. SEO & digital promotion

To make your eCommerce store visible to the audience, you need to opt for digital promotion services. It is important to invest in SEO and other virtual marketing services to promote your store. That way, you can gain high rankings on the search engine result page while gaining more customers. The end goal is to increase the overall sales and revenue.

8. Payment provider’s fees

An eCommerce store needs to be integrated with various payment systems. The more choices you can offer to your customers, the more attention you can grab. Some of the most common ones include PayPal, Stripe, etc. There are no fees for setting up these payment gateways. However, you need to pay fees for every successful transaction. It usually starts from 2.9% added with $0.30. Here, you need to choose the payment service provider that suits your needs and budget the best.

9. Extensions

Magento offers basic functionalities so that you can operate your eCommerce store with relative ease. However, for some added functionality, you can easily include some extensions. For instance, you can add customer support, advanced search, and much more. To purchase these extensions, you will need to visit the Magento marketplace. Though there are some free extensions available, some will need to be purchased with a one-time payment. The price range varies depending on the features and the extension provider.

Apart from these features, you also need to consider the cost of maintaining your eCommerce website. That way, you can relax as your site remains stable.

Conclusion

These are the cost breakdown that you need to know to invest in Magento. In essence, the cost to set up a basic Magneto site is much less than the Enterprise and Enterprise Cloud Edition. However, you will need to at least make an investment of $12,000. You need to set up the budget based on your needs and requirements. Keep in mind that here choosing the best web development agency will matter a great deal.