Starting an online store couldn't be easier now with the power of the internet and globalization at work. But what stops most people from starting is not knowing how much money they need to have at the beginning. So let's find out how much money you need to get started. By doing this, you can know if you need to save up more money or you're in the clear to start building your own shop today!
Essential Costs
Website name
Whenever you start a brand new online store and manage the entire supply chain digitally, for the first one, you need to have a name and a domain for it, and for the second, reach out to the logistics experts. Nothing looks less professional than an online store with a secondary name after its main name.
For example onlinestore.weebly.com or onlinestore.amazon.com.
Don't do this! This looks terrible, and no one will trust your store!
Luckily, the average price for a personalized domain name is around $10. There is no monthly fee except that you will have to renew it every year, which might cost around $16.
Hosting plan
Not only do you need a host to put your online store on the internet, but your plan also needs to have the right features, bandwidth, data, and customer service to keep it running. Luckily, the rise of online stores and dropshipping sites have influenced hosting services to make cheap and affordable plans that dropshipping newbies can take advantage of.
Here are some sites that offer inexpensive e-commerce hosting plans:
- BlueHost = Choice Plus @ $7.45 a month, but you must pay for a whole year
- Hostgator = Baby Plan @ $11.99 a month
- A2 Hosting = Turbo Boosting Plan @ $9.99 a month
- DreamHost = DreamPress Plan @ $10.00 a month
Shopify plan
Shopify is probably one of the biggest reasons why drop shipping has taken off. The ability to create shopping carts, calculate the shipping costs, add and remove products, create time sales, and organize customer service inquiries are all handled by this subscription software service. The vast majority of sites that you see that are dropshipping t shirts sites will be managed by Shopify. The basic channel package that most people we'll start out with is only $29. It includes unlimited products 24-hour support, and it can manage up to four independent suppliers at one time. There are even options for gift cards and discount codes. If shopify doesn’t sound like a good option, there are other Shopify alternatives, such as BigCommerce, WooCommerce, etc.
Logo
It is important that your store looks professional and unique. Plus, your store needs to have a brand so customers can start associating your products, newsletters/ emails, and sales with it.
If you already know how to do graphic design, then creating a logo won't cost anything except your time. But if you don't, then you must hire a service or freelancer. The average cost of a logo design is around $35 to $50.
Conclusion
Depending on the initial investment you put into your store, starting a dropshipping store with Aliexpress and Shopify can cost about $82 to $102. If you want to start with more options and services like the plugins from Shopify, a virtual assistant, and a WordPress theme right off the bat, then the costs of your start could easily be more $250. But the WordPress theme and domain name are one-time purchases, so you won't spend that much next month.
