Episode 17: How Much Does it Cost to Start an Ecommerce Business?

Mr Sam Baldwin's Podcast

How much does it cost to start an Ecommerce business? I’m going to break down all the costs and show you how you can build your Ecommerce store without breaking the bank. 🔴 Subscribe to my YouTube channel for more tips just like this: https://keycommerce.com/Subscribe​ In this episode, we’re talking about one of the most crucial questions all Ecom newbies ask! ""How much does it cost to start an Ecommerce store?"" Let's be clear! There is no set budget for building an online store but starting an Ecommerce can really be started for very cheap. You can even start your Ecommerce store for just $100. Yes! ONE HUNDRED DOLLARS! Let me break down the minimum Ecommerce startup costs: 1. Website 2. Product and shipping 3. Payment processing fees Ecommerce Website Builder Cost You need a website which will serve as your main platform to sell your product! But you don't need to stress about this because it's very easy to set up. I recommend Shopify especially if you are a beginner. It comes with a lot of templates so it looks great right away and it has everything you need to start selling. Shopify is also very cheap and you could start running a decent website for $29 per month. Product and Shipping Costs You need to pay for this, too. Remember that the cost of your product depends on what you sell. To give you an idea, usually the cost is going to be anywhere from 20 to 50% of the price you sell the product for. Here are some of the ways you can sell products: 1. Make your own product 2. Import products and ship them from your home or warehouse 3. Sell someone else's products and have them ship it Payment Processing Fees If you use Shopify, they charge you a percentage of each sale as a fee for processing the customer’s credit cards. The fee does depend on your country and how Shopify charges cards but generally it’s 2.9% of what you charge your customer + $0.30. It’s crucial that you take this into account when you do your profit calculations because this can take a chunk. If you want to learn more about Ecommerce costs and how to build a profitable online store, listen to this episode now. 🔗 Here are the videos on Average Order Value that I recommend in this episode: ⦿ Building Your Online Store - https://www.youtube.com/watch?v=1Sqfh... ⦿ Profitability Calculations for Ecommerce Stores - https://www.youtube.com/watch?v=5Z1sS... ⦿ How to calculate AOV (Average Order Value) for your Ecommerce Store - https://www.youtube.com/watch?v=yT-_m... 💁 HELPFUL LINK: Start your Shopify Free Trial here: hhttps://www.shopify.com.ph/free-trial... 🎥 Watch the video version of this episode here: https://www.youtube.com/watch?v=13_g9g44oJs ✅ For tips and tricks on growing your Ecommerce store remotely make sure to subscribe: https://keycommerce.com/Subscribe --------------------------------SOCIAL-------------------------------- 📝 Key Commerce Blog - https://keycommerce.com/blog 👥 Facebook: @MrSamBaldwin 🐦 Twitter: @MrSamBaldwin 📸 Instagram: @MrSamBaldwin #EcommerceStartupCost, #EcommerceForBeginners, #MrSamBaldwin