Shopify Powers over 4.4 million stores worldwide, making it one of the largest e-commerce platforms. If you have a product and want to sell it online and make your sales go to the roof, Shopify is the platform you can count on. Shopify is one of the best e-commerce platforms, and it provides you with plenty of tools to help business owners grow their businesses and boost their sales online.
But if you are a small business owner and have a tight budget, the question in your mind right now is: How much does it cost to have a Shopify store? Let’s discuss it.
If you are concerned about Shopify’s pricing model, this blog is for you.
In this blog, we will analyze different kinds of pricing models of Shopify, hidden expenses, their benefits, and which one is best for your business.
Let’s START!
Shopify Pricing Plan
Shopify offers several pricing plans that are designed with all types of businesses (Size and goals) in mind. Some of the most popular plans are:
- Basic Plan: $29 per month
- Shopify Standard Plan: $79 per month
- Advanced Shopify: $299 per month
These plans have some distinctive features, transaction fees, and support levels, so let’s discuss each of them closely.
Basic Shopify Plan
Pricing: 29$ per month
Best for: New entrepreneurs or small business owners who are just diving into the ecommerce sea.
This plan offers some basic and foundational Shopify features needed to start a store. This plan has everything you need to launch and manage your ecommerce website. Here’s what you get:
Unlimited product uploads: There is no limit; you can add as many products as you want.
Sales channel: Sell on social media platforms like Instagram and Facebook or other marketplaces to reach a wider audience.
Shopify POS lite: This feature allows you to accept in-person payments, which is ideal for pop-up events or local markets.
Shipping Discounts: You can save up to 64% on shipping costs with USPS, UPS, and DHL Express.
Staff Accounts: You can set up two accounts to manage sales and admin.
Transaction Fees
Online Credit card fees: 2.9% + $0.30 per transaction
In-person credit card fees: 2.7%
3rd party payment provider fees: 2.0%
If you are a small business owner or a newcomer in the ecommerce domain, the basic plan is best for you because of its low-risk entry point, enabling you to analyze the market without paying heavy monthly fees.
Shopify Plan (Standard)
Pricing: $79 per month
Best for: Mid-size businesses looking to scale their operations.
This plan is a bit better than the basic plan, as it gives you tools to track and analyze the performance of your store. This plan is super beneficial if you want to increase your sales with the help of the data you will get.
Some of the features included in this plan are:
Advanced reporting: You can get in-depth insights about customer behavior, and you can track sales trends to enhance your digital marketing strategies.
Discount on shipping: You can save up to 72% on the cost of shipping, enabling more competitive pricing for customers.
Five staff accounts: Great for businesses with a small team managing several aspects of the store.
Transaction fees
Online credit card fees: 2.6% + $0.30 per transaction
In-person credit card fees: 2.5%
3rd party payment provider fees: 1.0%
This standard Shopify plan is great for businesses that are looking to scale and expand their product lines and leverage analytics to optimize customer engagement.
Advanced Shopify Plan
Pricing: 299$ per month
Best for: Established businesses that need advanced tools and customizations.
This Plan offers some insane features you need to boost your business. If your business is getting a lot of orders and you are managing or requiring sophisticated analytics, this plan is worth considering.
Key features of this plan are:
15 Staff accounts: This is best for businesses with a large team managing inventory, marketing, and customer support.
Advanced report builder: You can Customize reports to get an eye on specific metrics, such as sales channels and customer acquisition costs.
3rd Party Shipping cost calculations: This plan will provide you with real-time shipping rates for customers during checkout, ensuring transparency.
Transaction fees:
Online credit card fees: 2.4% + $0.30 per transaction
In-person credit card fees: 2.4%
3rd party payment provider fees: 0.5%
This plan is supremely designed for businesses that have high order volume and complex operation needs, ensuring they have access to the most high-tech tools Shopify offers.
Some additional Shopify plans to consider:
Shopify Starter($5 per month)
Shopify Starter is best for social selling through platforms like Instagram, Facebook, etc. This minimal plan includes some basic Shopify tools for linking products to social media posts.
Shopify Plus(Starting at $2300 per month)
Best for large businesses because this plan provides enterprise-level support that includes advanced API, multi-store management, and a customized checkout process.
Some Hidden Costs of Shopify Store
While the subscription fees are the core cost of building a Shopify store, there are some other expenses as well. Some of them are:
Website design
Shopify free themes are great to deploy on your store, but If you want a professional and branded look, you have to go with a custom design or invest in a paid theme.
Paid Themes
Paid themes range from $100 to $300, and these offer some advanced customization options and aesthetics:
Custom Design services
Basic: $500 to $1000 for minimal adjustments to existing themes.
Mid Tier: $1000 to $1200 for semi-custom design.
Premium: $1500 to %=$5000 for fully customized designs.
Investing in this domain is extremely critical because it directly impacts user experience and conversion rates.
Domain And Hosting
While you get hosting with your Shopify subscription, you will still need a domain name. Domain rates are generally around $10 to $20 annually. If you want a more branded experience, you should use the Custom domain instead of the free domain that Shopify offers you.
Apps
Shopify app store offers you some great tools to improve functionality, from SEO optimizers to email marketing apps. There are lots of free apps, but premium ones can cost you around $5 to $50 per month.
For example:
- email marketing tools
- inventory management systems
- social proofs widgets
- Advanced analytics apps
Payment processing fees
Shopify payment generally eases the transaction but comes up with some fees depending on your plan. Also, if you are using third-party payment gateways like Stripe or PayPal, it will involve some extra transaction costs.
Custom development
Hire a developer if you want a more customized experience like advanced features or integration. Custom development can cost you around
$5000 to $20000, depending on the complexity of the project.
Business set-up costs
Inventory, advertising, branding, and operational costs should be considered beyond Shopify fees. Research shows that Shopify merchants spend around $ 38,000 in their first year, which is influenced by these expenses.
How can you choose the right Shopify plan for your business?
So, how will you decide on a perfect Shopify plan for your business? Consider these points:
Stage of the business: Are you a start-up, a scaling business, or an established enterprise?
Product Range: So you have a large pool of products or a small inventory.
Sales Condition: High transaction volumes may justify the lower fees of advanced Shopify.
Customization needs: If you require advanced features like real-time shipping cost, opt for higher-tier plans.
Final Words
Launching a Shopify store is a critical decision, and it’s an investment in your business’s future. It’s not just a financial commitment, so research all the points and pricing first and then make the best decision for your business. By understanding the costs involved, you can make an informed decision and choose a plan best for your business needs. Whether you are an established business or just starting out, Shopify will give you the ultimate flexibility and tools that are required to make your business thrive.
