Starting your new business can be one of the most exciting things that you do in your life, but, understandably, it can come with its fair share of worries and fears too.
One of the most common questions wanna-be entrepreneurs have is: “How much does it cost to start an online business”
New business owners worry about how (often limited) funds are going to cover the startup costs of launching. Well, the good news is that starting an online business doesn’t require a lot of up-front funds!
Here are some of the main costs to consider when launching your online business, including a breakdown of roughly how much they will cost you. Read on!
Disclaimer: This post may contain affiliate links. This means, I get a commission if you purchase through my links, at no cost to you.
How much does it cost to start an online business: 7 things to consider
These are 7 key areas of expenditure as you are starting a new business:
Online business cost 1: Logo Design
Logos are one of the first things that your prospective clients will see, which is why it is so important that it looks professional and speaks to your brand.
This means that your logo should be eye-catching and memorable, but also that it should go with the rest of your design in terms of colour palette and font. This will give people the impression of a cohesive brand, as well as giving them a feel of who you are and what you do from their very first impression. Not only does this catch their attention, but it also makes them want to stick around longer!
When you are just getting started, you will likely not have a big budget for your logo. But there is no need to panic! Here are some options to get an awesome logo without breaking the bank!
If you have a flair for creative design, there is a super-easy way to cut the costs of logo design which can still give you great results!
Canva is an online design tool that allows you to create a unique and entirely personalised logo at no charge at all. This is a great option for saving money and allows you to get creative while thinking about how you might like your brand logo to look.
You can use one of their many templates as a starting point or build something from scratch. You may also want to download my free branding boards that come with Canva logo templates, colour palette and font combination. These are a great way to kickstart your brand!
FREE DOWNLOAD: Branding board with logo templates
Fiverr: From $20USD
If creating a logo yourself doesn’t sound like your thing, don’t worry! There are also some highly cost-effective options that you can use to get yourself a great logo. Many people looking to start a business will use Fiverr to find freelancers. who can work at an affordable price.
Many top-rated sellers on Fiverr are offering logo designs from $20 USD, and some will include more than one design option for this price!
If you haven’t checked Fiverr before, you can have a look here.
RELATED: How to get a logo designed on Fiverr
Online business cost 2: Launching a Website
Having a website is absolutely essential when it comes to sharing information about the service that you are providing. It is the best way to condense a lot of information into one location, and let prospective customers know about everything that you have to offer. Like logo design, it is important that your website is high-quality and reflects your core brand identity.
In terms of website costs, there are a few different ones to consider:
a – Domains
The first thing to consider is the cost of buying a domain – your space on the web or the url people will use to find you. This can be very cost-effective if you know where to look. Bluehost offers an affordable plan and has an excellent reputation ($12.99 for the first year, $17.99 for renewal after this)
b – Hosting
Web hosts make it possible for your website to be found online, so there is no way to get around this cost. There are many affordable options out there, including Bluehost (from $2.95 per month)
c – Website design
If you are just starting a business, you may not have the budget to hire a web designer. Luckily, there options available that won’t break the bank!
Using a ready-made template can save you a lot of work and a lot of money, as opposed to designing a site yourself or hiring a web designer to do it for you. I highly recommend that you use a template that can be edited using Elementor. This is the most amazing web builder, and it is free to use!
For about USD129 you get a responsive, sleek and professionally designed template and step-by-step instructions on how to get it live on your site.
My website is built using a Bluchic template, so if you like the look of my site, then this is a great option for you!
For more tips on how to build your website on a budget, check out these articles: