If you are here in this article, you are already aware of how proficient Magento is in the eCommerce domain, and it is one of the best platforms for you to start your online business. It is flexible, scalable and robust on all ends to support both small businesses and well-established stores. 

With the capability of handling high traffic and transaction volume, Magento Commerce has undoubtedly become one of the preferred choices for all budding entrepreneurs. But one question that’s still in the mind of most aspiring eCommerce business owners is, what’s the cost of developing a Magento store? 

Well, as you know, this eCommerce platform comes with some complex features and functionalities, and it demands you to hire a Magento 2 developer to get the perfect store ready. The expert developer will shed light on certain factors that influence the overall cost of developing the Magento store. 

Read this article till the end, and you will have better clarity on the overall cost of availing Magento development services and starting your online business. 

What Influences the Cost of Developing a Magento Store?

When you are planning on setting up a Magento store, knowing about the development cost is quite crucial, isn’t it? 

It’s because, with a price tag in mind, you will be able to better decide on re-calculating your initial budget for starting a business. Many factors go into determining the cost of Magento development services, but having a budget will help you decide on choosing only the important features for your eCommerce startup. 

Elsner Technologies Pvt Ltd., being one of the best Magento development firms, offers you the feasibility of acquiring a custom price quotation based on your requirements and expectations. This way, you don’t have to worry about paying a hefty or fixed amount as your initial investment for building a Magento store, as it’s your choices or preferences that will decide the overall cost. 

For you to know how your choices will impact the overall cost of Magento development services, here are some of the factors that influence the total amount:

1. Depending on the count of items you intend to sell, your need for development resources will increase accordingly. 
2. Your preference for user experience and visual branding will navigate the design or development complexities. Thus, the cost estimate by the team at Elsner will also be according to the level of those complexities you seek. 
3. Your consideration of the retention strategies and the marketing support for growing in terms of sales and traffic will also add up to the cost. For instance, the marketing and customer service tools you use will add up to the overall cost of Magento Commerce store development. 
4. Your hosting, security needs and other such parameters will also contribute some part of the total development cost. 

What’s the License Cost for Running Your Magento Store?

Keeping aside the development cost, which can be optimized or adjusted based on your specific requirements, one expense that’s mandatory for you to create a scalable store is Magento License. 

For you to know, the Magento license is accountable as the fee for being able to use this software for conducting your business. Depending on your infrastructure as well as technology needs, there might be a need for you to renew the license after a year. 

There are three different editions of Magento License for you to start your eCommerce store development on this platform, which includes:

• Magento Open Source: 

It is the free version of Magento, which comes with very limited features for you to set up a basic store and operate on it. In case you want to bring productivity to your business, you must go with the paid license options. 

• Magento Commerce:

You will have to pay somewhere more than $22,000 to own the Magento Commerce license, which opens up all pathways for you to customize your online business and scale it the way you want. 

• Magento Commerce Cloud:

For obtaining the Magento Commerce Cloud license, you can expect to pay more than $40,000. It comes with hosting solutions as well as other such assets, which justifies the pricing. 

Now, you might be wondering why the costs of the licenses aren’t fixed for Magento, right? Well, it is your annual sales that will be the basis of deciding the license cost. 

It means if your gross revenue in a year is less than $1,000,000, you will be charged $22,000 as the Magento Commerce license fees or $40,000 as the Magento Commerce Cloud fees. 

But, if your annual revenue with the Magento store is more than $1,000,000, the license costs will vary accordingly. Depending on the earnings, your Magento Commerce and Magento Commerce Cloud pricing can go up to $125,000 and $190,000, respectively. 

What are the Magento Hosting Expenses?

Once you are done with acquiring the license, you must now get along with availing the hosting solutions to get the site ready for being deployed online. If you know, hosting will help you store the site content, including product information and imagery. 

Optimal hosting is considered the powerhouse for a Magento store, as a lot of service features depend on it. Therefore, you can’t compromise on the fact that you need a high-quality hosting solution to ensure your Magento store doesn’t struggle due to high-performance demands in the future. 

Elsner Technologies is capable of meeting that need of yours and comes with very reasonably priced and feature-packed Magento hosting plans for you to count on, which include:

• Startup Plan: 

This plan costs $80.99 per month and offers you 200GB storage, 2 VCPU cores, and a LiteSpeed Web Server. 

• Growth Plan:

This plan is priced at $174.99 per month and comes with a managed dedicated server, 4 VCPU cores and 250GB of SSD storage.

• Scale Plan:

This plan is priced at $199.99 per month and comes with 6 VCPU cores, 500GB of SSD storage, 16GB RAM and also a money-back guarantee. 

These plans, by Elsner, are bundled depending on the features and the service capacity that your eCommerce business will need at different stages. 

What are the Costs Associated with Integrating Magento Extensions?

When you are opting for Magento as your eCommerce platform, you can’t stop yourself from utilizing the wide array of extensions. Even though the Magento extensions come with a great scope of enhancing your store features and functionalities, they do come at a cost! 

Therefore, to decide on the overall expense associated with Magento development services, you must count the cost of extensions as well. At Elsner Technologies, you can also get the best third-party Magento 2 extensions, which start from less than $10 and go up to more than $150. 

However, these prices are only for the options that are available in the third-party Magento 2 extension marketplace by Elsner. In case you are in need of any specific extension with custom features, you can hire experts and get them to work on your desired module. The cost of custom extension development will depend on the complexity and your requirements. 

If you want to stick to high-end functionalities with your Magento 2 extension, the cost of development will definitely be higher. But on the other side, you must also keep in mind that the more extensions you consider adding to the store, the higher will be the maintenance or support needs for it. 

What are Some of the Considerations Before Getting a Magento Store Developed?

Now that you are aware of the common and important costing factors associated with Magento store development, let’s finally give you an insight into some of the crucial  considerations before getting started with your project:

1. Determine the count of SKUs and products that you have. If you have a very small inventory and have no plan of expanding or scaling the business, it is better to go with some standard platform other than Magento. 
2. If you have thousands of products to sell to your customers with different variations, it is probably because you have plans to grow your business, and that’s where Magento fits well. 
3. Specify the number of customers that you possibly expect, depending on which you will be able to decide on the customer service potential you need. The said cost will be less if you are planning on selling your products domestically, and will be higher if you scale your business internationally. 

Parting Words

With this, you now have a clear insight into what factors influence the overall cost of Magento development services. This way, you have the clarity to decide on a specific budget in mind to be able to start your eCommerce journey with Magento. With the right knowledge and guidance, you can save a lot on your development expenses. 

Therefore, hire the best Magento development firm, such as Elsner Technologies Pvt. Ltd., offering all-rounder services, starting from creating a store and providing hosting plans to developing and integrating extensions. The best thing is Elsner provides a reasonable price quotation for every Magento-centric service aspect you need.