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Magento Pricing: How Much Does It Cost To Run A Magento Store?

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Solwin Infotech
Magento Pricing: How Much Does It Cost To Run A Magento Store?

Magento is one of the most trusted eCommerce platforms, powering about 3 million websites worldwide. Facing some tough competition from the second-largest eCommerce platform Shopify, it was expected that it would lose its enormous market share. However, Magento statistics for 2021 show it didn’t affect its market value. In fact, it increased to 13% in 2020 from 9% in 2019.

Magento is an open-source technology and is ideal for setting up small to big eCommerce stores. It also gives scalability to the enterprises to bring reforms in their operations and continue to dominate their competition. It is the reason for which brands such as Nike, Ford, Coco-Cola, Olympus, etc., have trust in it.

If you are also looking forward to joining the league, read this blog to know about Magento pricing and what should be your ideal budget for building a Magento-powered eCommerce store.

Magento Products:

Magento comes in two major variants:

  • Community Edition:

The community edition of Magento is completely free; you just have to download and install it, then you can set up a Magento store. You have options available to customize the store as per your requirements.

  • Enterprise Edition:

The paid edition of Magento, the enterprise edition, comes with the tools and features needed to run a complex eCommerce store. Businesses with multiple stack-holders and a huge budget for technology go for. It is usually preferred by large enterprises. The starting price of Magento is $22,000.

Magento Pricing: Community Edition

Since the enterprise edition is paid, the Magento Community edition is very popular amongst people with less development budget. Based on the current Magento eCommerce pricing, here are various components that would give you an idea about Magento pricing to run an eCommerce store.

  1. Website development by Magento development company ($25/hr)
  2. Website development by freelancer ($10/hr)
  3. Magento development by the in-house team ($60,000/yr)
  4. Set up Magento themes ($0 – $200)
  5. Set up Magento Extensions ($50 – $500)
  6. Graphics and brand collateral ($10,000 – $18,000)
  7. Domain ($10 – $500)
  8. Hosting ($10 / month)
  9. SEO ($60,000 – $80,000/yr)
  10. Maintenance ($80 – $125 /hr)
  11. Support ($30,000 – $40,000/yr)

 

1. Cost For Magento Website Development

You can choose to hire a web development company or a freelancer and outsource the development work to them. With the advancement of technology, you don’t have to worry about communication. However, you must hire someone with knowledge and experience in Magento web development. Here is a comprehensive guide to hiring a Magento development company.

Furthermore, you have an option to hire an in-house web development team. It is a bit expensive and takes a lot of energy to manage the operations. With each option having its pros and cons, here is a brief on all three options.

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