Planning To Start a Shopify Store? Here's a Breakdown of the Costs

Want to launch your online store on Shopify? But you’re not sure about the costs? You've just landed at the right place. 

Shopify has become a go-to platform for both aspiring e-commerce entrepreneurs and established offline store owners. 

During its 17-year history, Shopify has accumulated more than $886 billion in sales. It has achieved a total revenue of $7.1 billion in 2023. 

But before diving headfirst into e-commerce store setup it's essential to understand the financial investment involved. 

You may know the startup cost of the platform. But you might fail to consider additional costs such as Shopify store management services fees, ongoing marketing expenditures, etc. 

This blog sheds light on the various cost components associated with starting a Shopify store.

Shopify Subscription Fees: The Core Investment

Shopify offers tiered pricing plans. Shopify Lite is the most basic plan. It starts at $9/month. With this plan you can add a "Buy Button" to your existing webstore or social media pages. 

However, for a full-fledged online store, Shopify plans typically range from:

$29/month (Basic Shopify)

Ideal for startups with a limited product catalog. This plan offers essential features such as unlimited product uploads, a shopping cart, and basic analytics. You can enhance your store by leveraging the  best Shopify apps. 

$79/month (Shopify)

Suitable for growing businesses with a need for features like discount codes, gift certificates, and abandoned cart recovery.

$299/month (Advanced Shopify)

This is the most advanced plan and is perfect for high-volume stores. It supports advanced reporting, carrier-calculated shipping rates, and also offers lower transaction fees.

These are the basic expenditure you need to consider whether you plan to hire Shopify developers or not. 

Shopify Transaction Fees

It's important to factor in transaction fees. Transaction fees represent a percentage that Shopify charges on every sale made through your store. 

These fees vary depending on your chosen pricing plan:

• Basic Shopify: 2.9% + 30 cents for each transaction
• Shopify: 2.6% + 30 cents per transaction
• Advanced Shopify: 2.4% + 30 cents/ transaction

There's also the option to use Shopify Payments. It’s Shopify's built-in payment gateway, which eliminates these additional transaction fees. 

However, Shopify Payments may not be available in all regions. So always check their eligibility requirements. You can  hire Shopify developers  to help you with your store setup. 

Beyond Shopify: Additional Costs to Consider

While the Shopify subscription fees and transaction fees form the core financial commitment, there are other expenses to consider when building your online store. 

Domain Name

This is your store's unique web address. It typically costs around $10-$15 per year.

Theme

With Shopify you can enjoy a wide array of free and paid themes. Premium themes range from $180 to $360 (one-time purchase).

Apps

The Shopify App Store boasts a vast array of apps. You can use these apps to enhance your store's functionality. The cost of these apps varies depending on the app and its features (subscriptions typically range from $10-$200 per month). 

Explore the best Shopify apps to discover cost-effective options. It can significantly improve your store's capabilities.

Marketing & Advertising

Budget for advertising campaigns and social media marketing tools. You’ll also need to consider professional store setup and management services that include marketing elements in their packages.

Inventory & Shipping

Your specific business model will decide the cost of your products, packaging materials, and shipping rates. 

You can hire Shopify store management services for efficient store management. 

Hire Shopify Developers

If you require unique functionalities beyond the capabilities of existing apps, hiring Shopify developers can help. They can help you craft custom solutions to fit your specific needs. Developer fees can vary depending on the complexity of your project.

Hidden Costs: Design, Development & Ongoing Maintenance

While Shopify offers a user-friendly platform, you might require additional assistance for:

Theme Customization

If the free themes don't meet your needs, Shopify developers can create a custom themes. However, theme development costs can significantly vary depending on the intricacy and complexity of the web design.

App Integration 

Third-party integration  can require some technical expertise. Shopify experts can help you navigate app integrations and ensure everything functions smoothly.

Ongoing Maintenance

Maintaining your store involves tasks like updating apps, backing up data, and monitoring performance. Shopify store management services can handle these tasks. Consequently you can focus on growing your business.

The Takeaway: A Well-Planned Approach

Launching a successful Shopify store requires a well-planned approach. 

Shopify offers a 14-day free trial. You can explore the platform's best Shopify apps and experiment with features before committing to a paid plan.

Starting a Shopify e-commerce store is an exciting venture. After carefully considering the costs involved, you can embark on your e-commerce journey with a clear financial roadmap. Consequently, this careful planning will ensure your business’s long-term success.