Building an online business needs you to prepare yourself with a few things like deciding the set of products for the store, finding reliable partners, establishing an effective delivery service, and coming up with a strong marketing strategy.

Above all, something that is more crucial and critical in the development of an eCommerce website. The look and feel of your store, the way it has been designed, custom functionality you have added to make the experience simple for the users -together everything contributes towards the success of your online store.

Today businesses prefer to go for Magento for eCommerce store development for a number of reasons like its popularity, reliability, flexibility, etc. among others. To build an eCommerce store on Magento, businesses should have an idea of the estimated cost of development, to begin with.

Having an understanding of the estimated costs will help the business to set their budget accordingly while knowing the right price to develop the website cannot be known easily upfront as it is influenced by a number of factors.

When you choose a Magento development agency like ours we will let you know the estimated cost of your Magento development requirement based on those influencing factors.

So, let’s see them one by one…

Magento Editions
Magento is an open-source platform, but there are other two versions that offer additional functionalities at added expenses. This means the final price of your Magento development completely depends on the version you choose for your project.

In the case of Magento 2, there are three versions and they are:

Magento 2 Open Source
If you want to save on your development costs by paying nothing for the platform then you can choose this version. It is open source and so can be used free of charge. However, it comes with limited options and is generally preferred for small businesses. So, if yours is a small business then we recommend you go with this version. In this case, you will have to pay for the website development service only.

Magento 2 Commerce and Magento 2 Commerce Cloud
Both these versions of Magento are paid. Both of them let the businesses enjoy added functionality.

However, both versions have some points of difference. In the case of the first version, you have to choose the right hosting and the servers where you plan to run the platform. In the case of Magento Commerce Cloud, it chooses AWS servers on a default basis.

So based on which version you decide for your Magento store, developers with the required knowledge and skills will be selected to work for you by us. Being one of the leading Magento agencies, we have Magento developers with varying levels of experience and expertise. The hourly rate of the developers chosen for you will depend on the level of expertise required for the project.

Hosting
Magento will take care of your hosting needs if you choose Magento Commerce Cloud. In case you go for the other two options, then it will be on your side to choose the hosting providers. Based on the size of your store and the kind of traffic you want it to generate, you will have three options to choose from. They all differ in prices and come with different security levels. They are:

Shared server: It has low security. Here more than one website is hosted on the server. A load of a website will affect the performance of other sites on the server.

Virtual private server: It has a medium level of security. Here more than one website will be hosted on the server and the resources will be distributed among them.

Dedicated server: It has a high level of security. Here a dedicated server will be available for a website and the website will have full control over the server.

Based on your project needs and the limit of your budget, we will suggest you the right hosting provider and the price estimation for the service will be based on the choice you make.

Design
The overall website development rate will also have to include the cost of designing the Magento site. When you look at the whole picture, you need to understand that better designs will help with higher conversion rates. Keep in mind that you will have a very little window of opportunity to impress your visitors and your design will decide whether they will stay or leave.

Using Magento themes is the most cost-efficient and time-saving way of creating designs for Magento websites. Moreover, when you want to have the site designed in the least amount of time then choosing themes can be good for you.

However, choosing themes may not seem to be a wise choice always for Magento development, especially when you want the business to stand out. Designing customized themes that will help your business present well among the audience and stay ahead of the competition is what matters. Here at Mage Monkeys, our designers can help you design your storefront in a unique style that will help you convert your visitors into loyal customers with ease. The cost estimation for hiring designers will depend on the man-hours needed, the level of expertise required, and the complexity of your website design.

Customizations
Customizing stores as per your business needs is what owners look forward to when investing in eCommerce store development. Magento customization is all focused on maximizing revenue for the business through increased customer engagement. It is achieved by creating a completely optimized online shopping experience for visitors so that they make a purchase at the end of their journey. Our developers understand the real essence of such online stores and offer customization services that will help them achieve a competitive edge in the market while boosting revenue on the other hand. Right from offering consultation to store redesigning, we offer an array of services. So based on what customization service the business client needs for their site, the cost can be estimated.

Third-party integrations
One of the main reasons why people opt for Magento is the level of customization it offers. With third-party integration, it is possible to accomplish vast possibilities for your online store. You get to automate your online store by using such third-party applications. Here at Mage Monkeys, we can help you integrate all the needed third-party applications without causing any complications. Our developers will run the applications for you to ensure it is compatible with your Magento store and is not causing any errors or issues. The complexity of integrating third-party applications varies and so is the cost of doing it.

User experience design
Right user experience design will help the business establishment in the market as a brand. The user experience of a Magento store has to be designed in a way that it offers a perfect balance between boosting conversions and expressing itself well. Properly thought-out page layout and well-laid navigation will lead the visitors to spend more time on the site. This means investing ineffective user experience design is the need of the hour. Our Magento designers provide a range of design services to help businesses reach their goals. Based on the complexity of design and needed requirements, the work hours of designers with the required expertise can be calculated.

Extensions
Extensions are used to extend the functionality of the Magento store. Some of such extensions are free while you need to spend money on others. Extensions are used when the features of your online store are not enough or do not satisfy all your requirements. Using the default-free ones may not always work in your favor regardless of the edition of Magento you are using. The added functionality can be easily implemented in your store just by using extensions.

The cost of extensions can vary due to many factors, so the Magento development quote provided by the development firm will include their rate. Here at Mage Monkeys, we try to keep the development costs to a minimum to help our clients have extensions build at an affordable rate.

As such extensions come at a price, you need to be cautious when using them. Extensions may face compatibility issues on the site or with other already existing extensions. Chances are there those incompatible extensions may cause low page speed or errors. So, the use of extensions should be done kept to a minimum. We can ensure you build extensions that are highly compatible and runs smoothly with your site.

If you are planning to develop a Magento store for your retail business then we can help you with the job. To get a cost estimate for your project, just contact us today.