Many people have started a business that never thought they would be in a position to do so. This is mostly due to the opportunities that the internet has presented. The start-up costs for a business. Usually, this technology can be far less expensive. However, the same business concepts apply to the responsibilities that come with owning a business.
One of the biggest costs that come with owning a business in the brick and mortar establishment. There will be either a mortgage or rent to pay unless someone owns some commercial property free and clear.
Many of the online businesses do not have a fixed on land location. The owners are operating out of their homes. Not to say that there are not many businesses that do have an on-land establishment and an online presence.
For those who are strictly running their business online, several of their expenses are different. What they do need is a domain name. The cost for this can be as low as $2.99, right up to several thousand dollars. Some domain names for sale run in this high price range because it is believed they will have a big presence on the web. Or the domain has already been established and is getting huge traffic already.
The online business is going to have the ongoing cost of hosting their website. That is provided they are going to operate their business through a website. Some run a business only using social media platforms. Or they are using free services.
The hosting can be very little again, around $5 per month up to over $100. The cost factors are based on what the client requires. For example, if they want a more high caliber service giving them more site protection, they will pay more.
For those going with a website, this is another cost that will be incurred. Again there can be a big range in costs. There are options where even the inexperienced can build their own website through the use of themes. These are basically templates that can be customized. These can range from around $40. And up and are usually a one time cost. However, some are a yearly subscription. The big cost here is in time as opposed to money.
Then the other option is to hire professionals to design and build the website. This costs a lot more money, but for those that have no desire to build their own site, this is their solution. The cost can range from $500 up.
No matter whether the site is an e-commerce site or a corporate site, it will need content. The content for these types of sites differs quite a bit. If the online business owner does not want to produce their own content, they will need to hire a freelancer. This can cost roughly about $10 to $15 per 500 words and usually much higher.
This is making sure that the website is deemed to be secure for those who recognize it. Sites that operate off an SSL certificate are identified with the HTTPS: The cost can be free with some hosting plans to $100 per year.
Just as with any business, marketing is something that has to be done. On land, marketing can be costly, and internet marketing can be done cheaper. However, this all depends on the type of marketing being done and the frequency.
Marking can be done through various social media platforms. Those like Twitter, Facebook, and Instagram allow businesses to run ads for a fee. These can be done with minimal cost, or the business owner can invest a substantial amount of money into these ads. It is important to find the marketing tactics that will work best for the business, which means bringing them a return on their marketing investment dollars.
Other small costs are involved with the online business, but the biggest commitment will be the time. Technically for any business owner, “time is money.” Patience is also a virtue when it comes to an internet business. It is a mistake to think that traffic is going to flock to the site to do business the first day the site goes live.