As businesses expand, the need for an online presence becomes imperative. A dizzying number of questions and planning come with it. So if you’re an entrepreneur considering exploring the online eCommerce market, go for it.
Regarding
eCommerce development, it’s important to note how much impact the right
development platform can have on your business. If you look at the industry
giants, Magento has been one of the most sought-after choices among the top
brands. To hint at how famous it is, here is a list of companies that use
Magento for their business -
-
Nike
-
Christian
Louboutin
-
Coca-Cola
-
Ford
-
Liverpool
FC, etc.
Now
that you know the platform, let’s guide you through how much it’ll cost. Learning
the cost of Magento development is a legitimate concern, but it is a continuous
circle of planning and executing the right moves. This article explains Magento
costs by theme, licensing extensions, hosting, development activities, and
maintenance. We'll look at the key factors influencing the cost of Magento
development so you can schedule your investment in advance with your Magento service providers. Let’s start with the basics.
What is Magento?
Magento
is a robust open-source e-commerce web application written in PHP. It makes it
possible to operate e-commerce stores by working with resources like
categories, products, and sales orders. Magento is a highly adaptable and
customizable framework. If you're trying to open your first online store or
want to grow your current business, Magento eCommerce development can help you.
Before
jumping on the cost of Magento development, let us first understand the
platform. Magento offers two versions for merchants -
1.
Magento Open-source
2.
Magento Commerce
Magento Open-Source
Formerly
known as Magento Community Edition, Magento Open source - as the name suggests
- is an open-source and free eCommerce platform.
Anyone
can obtain the software's source code, update it, and host it on their server.
By incorporating additional plug-in modules and changing configuration
settings, Magento Open Source allows you to expand its default functionality to
suit your company's unique needs. Due to its excellent features and low cost,
Magento Open Source is a perfect choice for startups or small businesses. Small
business owners may always add new integrations or extensions per their
requirements. However, you'll need assistance from licensed Magento developers
if you want to update the code.
Here
are some pre-built features available with the open-source platform:
●
Mobile
Commerce
●
Promotion
& Pricing
●
Integrated
checkout, payment, and shipping
●
Product
Browsing
●
Customer
Accounts
●
Management
of Global Selling Catalogs
●
Instant
Purchase
●
SEO
●
Site
Search
Magento Commerce
Magento
Commerce (now Adobe Commerce) is based on the same fundamental technology as
Magento Open Source and is one of the Magento eCommerce systems. However, it includes
more features and capabilities not present in the former system. Powered by
Magento, Adobe Commerce is now the parent firm of Magento Commerce.
This
cutting-edge, feature-rich e-commerce development platform is for online
businesses that want to grow and offer an exceptional shopping experience to
their customers. A comprehensive set of features provide a seamless consumer
experience.
Why choose Magento?
Omnichannel
is the future of retail, so many merchants prefer Magento ecommerce for their
business. They can sell and operate their business from a centralized system.
However, what makes Magento different from other platforms are the following:
1.
Open
Source
One
of the advantageous factors of using Magento for eCommerce development is
developers can modify the source code and add features and functionality by
installing plug-ins. Magento provides scalable, adaptable eCommerce solutions
with customization options. Users can alter or expand the source code to add
more complex features or optimize default functionality.
2.
Scalable
Scalability
is another major reason why businesses choose Magento for eCommerce
development. No matter the size of your business - SME, small or large -
Magento understands your requirements and adjusts accordingly. It can sustain
all business sizes, from tiny to giant enterprises.
3.
Secure
Magento
makes it simple to implement SSL security and a dedicated IP, ensuring that
your consumers feel secure when purchasing online. Additionally, the platform
lets you employ a variety of payment methods. To constantly give users all the
information they might need regarding security, security patches, security
updates, and practices, as well as prompt support when necessary, Magento
builds a security center. Magento develops an excellent security solution to
satisfy business needs and completely safeguards websites from online attacks,
hacking, and other threats.
4.
SEO-friendly
Securing
valuable visitors on your platform is one of the best ways to get a return on
your investment. To achieve that, there are certain methodologies you can
follow, starting by defining URLs, tags, and descriptions. It helps you boost
not just the credibility of your platform but also boost the quantity of your
traffic.
5.
Analytics
and Reporting
Magento
lets you integrate tools such as Google Analytics, Google Base, and Google
Checkout, aiding you to keep track of your customers online and market to them
effectively.
6.
Extensions
As
long as these extensions benefit them and their businesses, store owners can
apply Magento modules to their websites as they see suitable.
7.
Third-parties
Integration
To
optimize your online business, you may quickly and effectively connect any
third-party extensions, programs, and extra plug-ins with Magento, including
payment gateways, marketing automation, shipping services, and tag management
tools.
How much does a Magento eCommerce
Development cost?
Numerous
factors determine the cost of Magento eCommerce development, and one of the
many factors is your business size. Depending on your business needs, you could
choose a basic Magento, a Community edition, or an Enterprise edition.
1.
Domain cost
You
can opt for either a new domain name or get an expired domain name. A domain
name is a suitable way to prove your brand identity. But ensure you are picking
the right domain for your website. A brand-new domain can cost $10 to $20 per
year, while an expired or pre-owned domain ranges between $20 to $400 per year.
Also, pre-owned domains achieve domain authority and can provide an SEO
benefit.
2.
Website
cost
The
price of developing an eCommerce website with Magento can be seen from multiple
aspects, including hosting, design, customization, themes, and even the skills
and experience of the developers you choose for the job. Large organizations
may use the full range of Magento features thanks to the Magento Enterprise
edition. You'll spend more than $100,000 switching to Magento Enterprise. In
addition, you need to allocate some more funds for upgrading the Magento
platform, additional security, etc.
The
most admirable aspect is that you can unwind while Magento handles your online
sales.
3.
Hosting
Consulting
any IT company will allow you to choose the right hosting providers. You can
select one among three hosting servers: shared, dedicated, and PVS. If you
choose Magento Commerce Cloud, the package price will include hosting. You will
require a hosting partner if you select Magento Open Source or Magento
Commerce, and this partner's monthly fee will probably range from $10 to $50.
4.
Themes
You’ll have to build a Magento 2 theme from scratch or buy a
premium theme for the storefront design. You can also customize the default
theme provided with Magento 2.x.
And if in case you want to buy Magento themes, be ready to spend
anywhere between $0 – $200 or above.
Some store owners start simple and later hire a front-end developer for
customization. While this approach has the advantage of specific customization,
a front-end developer with intermediate expertise will cost you $50,000 – $60,000 per year.
5.
Extensions
Extensions are independent modules that
increase the Magento platform's capability. While some extensions are free,
others could run you thousands of dollars.
Connect with the developers to confirm
version compatibility and potential conflicts with the current extensions
before deciding on and purchasing Magento extensions. There's always a danger
that an extension can introduce bugs and slow down website loading. As a
result, the best advice from industry professionals is to use as few Magento
extensions as possible.
You should expect to pay $50 to $500 for
Magento extensions, with prices changing depending on the feature set and the
development company.
Wrapping up
Installing, customizing, creating Magento
themes, and creating unique features for a Magento website are just a few of
the many skills and duties covered by Magento development. Before signing up
with them, remember to look into a Magento partner agency's market presence,
relevant industry knowledge, and eCommerce difficulties they've resolved for
clients.