How Much Does It Take to Run a Magento Store?

Are you planning to start a new online business? Well, then you have to be organized and be aware of a number of important aspects. Missing out on a single facet can make you lose the competition. From initiating a potent supply chain and opting for reliable partners to putting nod for a certain product assortment and finally forming a great delivery service, everything has to be planned and done in a proper manner. Yes, the list truly seems to be endless. But, at the same time, the budget also seems to be one of the largest concerns for any business owner. Especially, when it comes to Magento development services, one is never sure about the exact cost it’s going to charge. To kick start any Magento project, this is perhaps the most common doubt every other person happens to come up with.

Well, this blog is going to give you a fare idea about the same. Still, giving an accurate estimation of Magento implementation costs is never a cakewalk. There is an array of important factors to consider while determining the final price. But, an average budget of the same can easily be gauged. Through the short pricing guide that we are going to present in this blog, you would find the general costs of keeping up a store based on Magento.
Here, to the best of your knowledge, Magento has quite a few different installations, names of which change every year. However, the platform versions the company is offering right now are as follows-
  • Magento Commerce 
  • Mangento Commerce Cloud 
  • Magento Open Source 
Magento Commerce and Magento Commerce Cloud provide advanced functionalities that, in turn, provide merchants with a bigger turnover. So, the license cost for a paid Magento installation starts from $22,000 and can go upto $190,000 per year specially for the businessmen who spark off a profit of above $25,000,000.

On the other hand, Magento Open Source is a free edition of the platform exclusively fabricated for developers and small ventures. One can download as well as use this version at a completely free of charge. Still, setting up a Magento Open Source web store is something more about just mere downloading and installing the software. If you have such notion that there will be no additional cost, you are utterly wrong! Extra costs for coding, configuration and hosting will be also embroiled into the same. According to the experts, a basic Magento website having standard functionalities, an easy-going free theme and no alliance with any external systems and services would start from around $12,000- $15,000.

Also, there is never a fixed price for hosting a Magento Open Source based website. It differs from an individual to the other and the type of hosting you are choosing has got to play a direct role into the same. When the costs of unmanaged hosting can start from $10 and can go up to $250 per month, the price for managed hosting would begin from $190 per month.

On the other side, for the websites developed on Magento Commerce, the price come forth from $500 per month and that is for dedicated servers. The fact that the Magento Commerce Cloud version is fronted on cloud has made the hosting costs remain into the license itself.

But, you will certainly be able to save a considerable amount if you are a tech-savvy individual or have an in-house IT department. Still, to get the platform customized and combined with several third-party services might turn out to be a bit tough for someone who doesn’t have enough knowledge in this domain. Thus, it’s worth suggesting that the inexperienced developers should always take recourse to some good Magento development company, as this is how they can become successful in their vocation.

Panacea Infotech is a renowned Magento development company providing exclusive solutions to help the customers enjoy a complete digital transformation for their business. We have been working in this domain for years and this is how we have become able to grab an unmatched command over the same. The highly motivated individuals in our venture are specially trained to give birth to high-rate Magento development services, thereby making the clients enjoy the best value for their money. The quick and cost-effective e-commerce solutions we offer are worth your every penny and we make sure that you are not left with any sort of grievances against our service. You can contact us 24/7 and you will enjoy a guaranteed service for sure.


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