Magento Pricing 2022: Explore The Real Cost To Run An Online Store

magento pricing 2022

With great features and friendly interfaces, Magento is definitely one of today’s leading website-building platforms. That’s why many merchants curious about Magento pricing for building an online sales channel.

However, it is undeniable that the e-commerce Magento website building and operating process requires quite some steps. As a result, it is not easy to calculate the necessary costs for setting up the desired store.

No worries, today this post will help you calculate the price to fully develop a Magento store.

magento pricing cost

Common Costs For A Magento Website

Magento Edition

Magento offers three different editions: Magento Open Source, Magento Commerce, and Magento Commerce Cloud. Each package has a different price, features, and support from Magento.

Many people admit that Magento is quite a supportive company when distributing an Open Source version that can be used completely free of charge. Although this edition will be limited in some features compared to the paid editions, it can still meet most businessmen’s requirements.

About Magento Commerce, it has many special features such as detailed reports, and B2B. But the price of this service is relatively high. The minimum fee is $22,000, and the maximum is $125,000 per year

Finally, there is Magento Commerce Cloud, also the most costly option. The price of this service ranges from $40,000 to $190,000.

Website Development

To build a website, you must spend a part of your budget on design and development. This fee can go up to thousands of dollars, depending on the complexity. If your website requires uniqueness, sophistication, and carefulness, then the cost will easily go up to six figures.

However, you will have quite a few options for website development, and each option has a different price and will be thoroughly analyzed in the next part of this article.

magento cost

Extensions

This part depends on your needs. You might want to equip your website with plug-ins to enhance its convenience and usefulness.

However, a Magento website’s functionality is complete, so you probably won’t need it. The cost for an extension can be anywhere from $50 to $600.

Hosting

When you pay the cost of hosting, this is similar to renting a space on the main server to store your website data. This cost will vary depending on the Magento service packages you decide to use.

If you use Magento Open Source, the hosting fee is pretty cheap, probably $100-$500 a year. The hosting price for Magento Commerce will be much larger, varying from $500 – $6,500 per year, depending on your site’s complexity.

However, if you choose Magento Commerce Cloud, this cost is eliminated as the data will be stored in Magento’s cloud.

Read More: Top 12 Magento Hosting Providers [Infographic]

Domain & SSL Certificate

This is a fixed cost you have to pay yearly to maintain your website. A domain is the website address. It’s what represents your brand to users. Usually, you’ll invest about $10 – $400 per year for it.

An SSL certificate is a certification that shows your website is secure and safe. Google will prioritize showing sites with this certificate over those that don’t. In addition, it also increases the credibility of your customers. This certificate will increase your Magento pricing from $50 – $300 per year.

Digital promotion and SEO

To make a profit from your online store, you need to attract customers. SEO and digital marketing will help you do this.

If you do it right, this investment will result in stable web traffic in the future. Normally, an e-commerce website budget for this activity ranges from $10,000 to $40,000.

Maintenance

You will need to maintain and upgrade your website after a period of operation. This process will not only enhance website speed but also create loyal customers by improving their experience. 

Besides, some website interface upgrades are indispensable on special occasions like Christmas, Black Friday, etc. These upgrades may boost your revenue. Maintenance will cost about $90 – $130 an hour.

cost of magento

Magento Website Development Cost

Usually, you will have four choices for website building activities:

  • Hire a web design agency.
  • Build your own web development team.
  • Hire a freelancer.
  • Build it yourself.

Those options have different pros and cons. Let’s dig into it!

Web Development Agency

This is the most useful option, however, it requires a certain budget. But don’t worry because the amount you spend will often come with quality.

Therefore, if you accept to spend a relatively large amount of money on hiring an agency, you will receive support from a professional and experienced team. They have the capability to turn your ideas into exquisite products in reality perfectly. This investment surely sounds like a good sense of finance.

Moreover, these agencies often have many different service options for you to choose from. Thanks to this, you can reduce Magento pricing. 

For example, instead of hiring an agency to do a whole site from scratch (this usually costs $25-$200 an hour), you can save money by purchasing their pre-made theme, then hiring them to edit it. The price often ranges from $300 or less for one website theme.

One of the most reliable Magento web developers to work with is Tigren. We provide diverse Magento services, including Magento website development. We have worked with Magento since 2012, and we know the ins and outs of it.

Developing a Magento store with us means a worry-free process. We will accompany you through the entire process and give advice so that the final result promises to boost your e-commerce business.

quality e-commerce development agency

In-house Website Development Team

This model is usually only suitable for medium and large companies that need to develop and take care of one or more websites on their own in the long term. Owning a design team will speed up the store developing and updating process. Besides, you can also control the development cycle easily.

However, you will have to pay your team for a very long time. It will be much more expensive than hiring an agency if you calculate the total cost. On average, you need between $60,000 – $80,000 per year for an inexperienced programmer.

Therefore, if your company lacks strong resources, you should not consider hiring a separate team.

Freelancer

Hiring a freelancer will often have a larger price swing than the options mentioned above.

  • Southeast Asia: $10 – $20 per hour
  • Eastern Europe: $20 – $60 per hour
  • Western Europe, US, UK: $150 – $200 per hour

However, it would be best to remember that they are freelancers, so they rarely have fixed hours to work with you. This can cause communication difficulties between the two parties.

In addition, freelancers are usually only professionals in one or a few specialized jobs. It is quite difficult for them to take care of all the steps in the website development process alone.

Self-built

This option is quite difficult but not impossible. You can still make a website yourself without anyone’s help.

However, to do it, you will have to take some programming courses on your own. These courses’ prices can be free or up to thousands of dollars.

Even with extensive knowledge of web development, the amount of work you have to do will be immense. If you aim to be a business person and not a website developer, we don’t think you should choose this option.

magento web development

What Is The Best Magento Pricing Option?

You can use the information provided in this article to calculate the total cost that you may need to pay for developing a Magento website.

For referral, building a website using Magento Open Source will cost you an average of $12,000 to $57,000, depending on your choices of web development and relevant costs.

For Magento Commerce, the total cost you need to spend will range from $43,000 to $190,000. As for Magento Commerce Cloud, you will need to prepare a budget of $60,000 – $250,000 per year.

There is no formula to calculate the right budget for all companies. You should choose the most suitable price based on your resources, business type, and yearly revenue.

Bottom Line

Building a website is usually quite expensive, no matter which platform you choose. Therefore, it is great that Magento offers many services at different prices. This brings you more choices about balancing costs between activities in website building in particular and business in general.

Above is all information about Magento pricing, hope it is useful to you.

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