Over the last 10 years, Magento has empowered thousands of brands over the world with the best e-commerce platform to rapidly innovate and grow. Because of that, a great number of e-businesses want to invest in Magento web development. But it’s always hard to know where to start. One of the most crucial things that merchants worry about is whether they can afford the high cost of a Magento web development project.
To deal with this, there are 3 possible solutions:
The 1st solution: You can find the information on Magento development cost – Magento pricing available on Google and other search engines for reference.
- Advantage(s): Fast and Easy
- Disadvantage(s): Too much information, maybe not updated and inaccurate.
The 2nd solution: Instead of finding the website creation cost of Magento web development instantly, you have to find a list of Magento e-commerce development companies first. Then, you can contact them directly to ask for the cost of developing a website. Since the price range of Magento web development is wide, you should contact at least 10 Magento development companies in different regions to get the average price of the market. If you just get in touch with several Magento agencies in the same location (in the UK for example), you might lose some great opportunities to partner with prestigious firms in other countries with more competitive Magento pricing.
- Advantage(s): Accurate information on Magento cost.
- Disadvantage(s): Very time-consuming, easy to miss out on good opportunities.
The 3rd solution: The last method to know the Magento web development cost is to estimate yourself based on this comprehensive guide. In this way, it would be more convenient for you to get the overall Magento price for your project before approaching a specific Magento eCommerce company.
- Advantage(s): Fast, Easy, relatively Accurate result. Good for those who are considering Magento and other eCommerce platforms. Knowing the price before asking for a quotation from certain companies.
- Disadvantage(s): Still the estimate of “how much does a Magento eCommerce website cost”. It would help us to know the “entry cost” of Magento web development rather than get to know an accurate cost.
In this blog post, we will show you how to make an estimation yourself, which means the third solution.
5 Essential Steps To Calculate Magento Web Development Cost Yourself
- Step 1: Define the time spent on Magento website design and Magento setup
- Step 2: Define the average Magento hourly rates for different regions
- Step 3: Calculate the cost of hiring a Magento web development agency based on step 1 & 2
- Step 4: Define other involved costs (Magento hostings, Magento extensions, Magento themes, and templates,…)
- Step 5: Calculate the total cost of your Magento development projects
Step 1: Define the time spent on Magento website design and Magento setup
Buy a ready-made Magento theme: If you build a new website based on a ready-made Magento theme and templates, it would take about 5 hours to implement that theme and set up a basic Magento website. Moreover, you also have to customize/ make some changes to make the template match your brand (e.g.: change logo, banner, colors, layout, …), which will take 15-20 hours.
Design a new theme from scratch: In case you want to have a unique design, you can hire a Magento agency or just a website designer to create a new one to your requirements. In order to do that you have to spend at least 1 month on both design and coding (approx. 160 hours).
Magento 2 Migration: It’s worth noting that for the Magento migration project (from Magento 1 to 2), you also have to spend at least 24 hours for data migration (products, customers, orders, categories,…). Additionally, you should concern about the time for migrating the Magento extensions (3 hours for 1 extension installation and configuration on average). Since it’s impossible to move any Magento 1 extensions to your Magento 2 store, you have to find similar extensions for Magento 2 version. Although this process might take time, it is not included in the cost because you can do it yourself without delegating it to the agency.
Last but not least, your project will take about 24 hours for feedback and deployment on the live Magento site.
Step 2: Define the average Magento hourly rates for different regions
From our research, there is a huge gap between the hourly rates of the developed countries like the US, the UK, and Australia and the developing countries like India, Vietnam, and Malaysia,… due to the difference in their labor costs. While it costs you $75-150/hour for hiring a Magento developer in the UK, you have to pay just a half or even less:$25-50/hour for having your work done by an offshore Magento programmer in Vietnam but the quality of your project might be the same.
Probably you may wonder why some people still choose to partner with a UK Magento agency instead of going for an outsource Magento company to get the much cheaper price and the same product quality, aren’t you? The reason is simple, it’s obviously more convenient to communicate with a local firm with the same timezone and language and easier to meet face-to-face.
However, more and more people now prefer working with outsourced Magento development companies in Vietnam and India. Owing to modern technologies, they can contact easily through video conferences or via emails so the previous communication barrier was removed. Also, most of the Magento developers and staff of these firms are trained carefully not only in technical skills but also English. Therefore, you don’t have to worry much about not sharing the same language with your partners.
Step 3: Calculate the cost of hiring a Magento web development agency based on step 1 & 2
To calculate the website developer cost, you just have to apply the simple following formula: Estimated Cost of hiring Magento developer/ Magento agency = Total Estimated Time for Work (hours) x Magento hourly rate ($)
For example, I will buy a ready-made theme and templates and let the agency implement & customize it in 20 hours. Besides, I need to migrate the database (24 hours) and 10 extensions (3 hours/ extension). Especially, I would like to coordinate with a reliable Magento agency in Vietnam ($30/working hour), so here are the Magento website development costs I have to pay: Estimated cost for my project (VN) = (20 + 24 + 10 x 3 + 24) x 30 = 2.940 ($)
On the other hand, if I want to conduct the same project with a US agency ($75/working hour), the estimated cost would be: Estimated cost for my project (US) = (20 + 24 + 10 x 3 + 24) x 75 = 7.350 ($) Apart from these costs, it depends on the agency you work with that you will be charged for the support after the site goes live or not.
Step 4: Define other involved Magento costs
Before working with the Magento agency, you will have to prepare some “materials” for your new e-commerce website.
– Magento theme and templates: If you don’t have enough time and budget for designing a new website design from scratch, buying a ready-made Magento theme is an ideal solution. A good theme’s price is mostly from $100 to $200.
– Magento extensions: In general, almost Magento stores have to install several modules and plugins to enhance their functionality and performance. The average price of a Magento extension on the market is $80-100. – Website domain: The cost of registering a domain is $5-20/year.
– Hosting: It would cost you $77-200/year for the hosting fee. Since Magento has a lot of complex features, it requires a powerful hosting server to run smoothly.
For example, I have to pay $100 for the theme, $800 for 10 extensions, $15 for the domain, and $80 for the hosting, the total “material” cost would be $995.
Step 5: Calculate the total cost of your Magento projects
Now, you just have to add up the cost in step 4 to step 3 to get the total estimated cost for your Magento web development project. From the 2 previous examples, the total estimated cost for the whole project would be nearly $4,000 (implemented by the Vietnamese agency) and doubled price – more than $8,000 (carried out by the US agency). Note that these costs are just for reference. Depending on your specific needs and requirements that the Magento pricing might be lower or higher.
We have shown you an easy way to calculate your Magento web development cost yourself before approaching any Magento agency. On the one hand, you can rely on this estimated cost to decide whether to go for Magento or not. On the other hand, it would be useful for you when negotiating the cost with the agencies. In general, the cost of developing a Magento website is higher than building a new site on other e-commerce platforms. However, there is no e-commerce platform that can provide you with such a lot of useful functions and easily gets support like Magento.
Tigren’s Magento Web Design & Development Service
With more than 10-year experience in Magento eCommerce website development, Tigren is confident to help you build awesome Magento websites – in terms of both functionalities and design. Moreover, with the competitive advantage of relatively low labor cost, we are able to offer the best Magento price on the market while product quality is guaranteed. Especially, we provide 3-month FREE Magento support to make sure that you are 100% satisfied with the site after it goes live. Contact us now to get a Free quotation and consultation for your Magento project!