Key Factors that Influence the Cost of Magento Ecommerce Development

Cost of Magento Ecommerce Development

Magento, no doubt, is one of the best eCommerce platforms. More than 250,000 eCommerce websites are powered by Magento. It is because of the rich features that Magento offers. Magento not only provides great features but also provides multiple optimization tools for better performance. With Magento, an eCommerce platform can be fully customized to make it customer-centric and facilitate marketing. This is the reason why many online merchants turn to Magento eCommerce development companies for building their online store on the Magento platform.

Thousands of developers recommend Magento to eCommerce businesses because of the rich and extremely customizable features. Although Magento offers many benefits, a lot of enterprises avoid going for Magento website development because of the cost involved. Building a basic Magento eCommerce website will cost around $2000. A custom Magento site will cost anywhere between $2000-$40000.  While a basic and fully customized are mostly preferred by merchants but Magento Enterprise costing $1,00,000-$2,00,000 is an ideal option. Going for custom Magento eCommerce development will have extra benefits including integrated back office and migration support.

While it’s true that input cost Magento increases, the hidden benefits make the site viable in the long run. With Magento website development, eCommerce companies can deliver impeccable user-experience. Moreover, higher security increased conversion rates, and innumerable customization becomes quite affordable in the long run.

What Makes Magento Ecommerce Development More Popular?

  • Displays an endless catalog with great ease
  • Fast-loading website
  • Natural Search Engine Optimization
  • Smooth and easy navigation supporting one-click login
  • User-friendly Dashboards
  • Product management
  • The flexible shopping cart system
  • The smooth business process right from product listing to shipping
  • Seamless Easy API integration

What’s the Cost of Magento eCommerce Development?

When it comes to Magento eCommerce development, you have three options: Hire Magento 2 developers from a web development agency, a freelancer, or use your in-house team of Magento 2 developers. All these options have their own sets of pros and cons. However, it’s completely up to you as to which option suits you best for Magento 2 development.

1. Web Development Agency (Price Starting from $25 – $200/hr)

Hiring a Magento website development agency is the most expensive of all the three options. Although it is the costliest option, you get high quality and professionalism. When you hire Magento 2 developers from a Magento web development company, you will have the opportunity of working with experienced Magento developers who are well-versed in Magento eCommerce development. You will also have the option to get business consultations that continue to add value to your eCommerce store. The development agencies charge according to the expertise of their developer team and the value of their development portfolio.

2. Freelancer (Price Starting from $10 – $200/hr)

Hiring a freelancer is a slightly cheaper option; you will get what you pay for. While with an agency, you get a dedicated account manager, a freelancer who provides for direct communication and quicker communication.

Professional freelancers also offer support once they deliver the project. However, it’s wise to do thorough research before hiring a freelancer to avoid a bad experience. The cost of working with a freelancer varies depending on the experience, reputation, expertise, and region. It’s a good idea to hire freelance developers from a country that offers services at an affordable price range.

  • South-East Asia: $10 – $20/hr
  • Eastern Europe: $20 – $60/hr
  • US, UK, and Western Europe: $150 – $200/hr

3. In-house Magento Development Team (Starting from $60, 000 – $120,000/yr)

Many medium-sized and large-sized eCommerce companies prefer in-house Magento 2 development teams to keep pace with the rapid store-level enhancements and changes. The biggest advantage of such a team is that it provides a quick turnaround team and better control over the development cycle.

The in-house development cost for Magento Community Edition and Magento Enterprise Edition are mostly the same. For instance, if you hire a junior web developer with less than a year of experience, the overall budget will be about $60,000 – $80,000 per year. From there, the cost of the developer will increase with every year of experience. The salary expenses could reach $120,000 a year for an experienced Magento 2 developer.

Other Factors that Affect the Cost of Magento Website Development

1. Magento Themes (Price Starting from $0 – $200)

The themes represent the front-end visuals and user experience of your website. Therefore, you must take theme selection very seriously for your eCommerce store. When it comes to choosing a Magento theme, you have two options:

A. Prebuilt Magento themes

If you’re buying a Magento theme, you will need to spend anywhere from $0 – $200 and above. Many eCommerce business owners start with a simple base theme and then hire Magento 2 developers for Magento theme customization. While this approach provides you with precise customization, note that a Magento theme developer with intermediate expertise and experience will take the development cost you $50,000 – $60,000 per year.

B. Customized Magento themes

This is a case of “You get only what you pay for”. You simply need an expert team of Magento frontend and a clear idea of what you want from your theme. The cost of a custom Magento theme depends on the number of features you want and the expertise required translating your vision into a fully-functional Magento 2 theme.

2. Magento Extensions (Price Starting from $50 – $500)

Magento extensions are independent modules that are developed to enhance the functionalities of the Magento platform. While some Magento extensions are available free of cost, others could cost thousands of dollars.

Please note that before choosing an extension, make sure to contact the developers of the extension to verify version compatibility and possible issues with the existing extensions. There is always a chance that an extension may disrupt your site speed and performance. Therefore, you must keep the Magento extensions on your store to a minimum.

The cost of Magento extensions may range from $50 to $500, depending on the Magento extension development agency and feature set of the extension. The cost of the custom Magento extension development is higher than the custom Magento theme development.

3. Graphics and Brand Collateral (Price Starting from $10,000 – $18,000)

Online stores need a brand image to make you stand out from the competition. This includes a brand logo, color scheme, and associated visual components, collectively known as the Brand Collateral. Likewise, in this age of visual media, an online store needs high-resolution product images and videos to attract more visitors and entice them to make a purchase. All this requires the expertise and competence of a graphic designer that usually charges $23 – $25 per hour.

4. Domain Name for Your Online Store (Price Starting from $10 – $500)

In simple words, the domain name is the name of your store. Thus, you need to select a domain name that accurately reflects your business. Make sure the domain name is attractive and easy to remember.

You can acquire a domain name of your store in two ways:

  • Buy a brand-new domain, or
  • Buy an expired domain.

A brand-new domain generally costs you from $10 – $15 per year, while the price of expired domains generally varies between $20 – $500.

5. Magento Hosting (Price Starting from $10)

This is one of the most important and critical factors that influence the overall cost of Magento 2 development. Your decision at this point decides your success or failure. As a store owner, your main focus is to grow your business. The best option is to go for a managed Magento hosting solution that takes care of server management and security.

Also, with managed Magento hosting, you can scale up or scale down server resources anytime you see fit. This is useful, especially during the Holiday Sales season when online stores experience huge loads in terms of traffic.

6. Search Engine Optimization (Price Starting from $60,000 – $80,000/yr)

Just by investing in Magento eCommerce development is not enough, you also need to make sure that your online store ranks higher in the search engine results. eCommerce is a competitive business and therefore, you need to make sure your store is in the top ten results of Google’s SERPs for the target keywords. Thus, SEO is an important item in the Magento eCommerce site development pricing list.

To achieve top ranking in the search results, you need to hire either a Magento 2 development agency or freelance SEO specialist with vast experience in getting Magento stores ranked high in Google search results. The SEO service generally costs around $44,000 per year.

When you hire Magento developers specializing in SEO, you get a host of related services including:

  • Website Audit
  • Keyword Research & Analysis
  • Competitor Analysis
  • Revise and Redo Product Pages
  • Page Speed & Performance Optimization
  • Google Analytics integration and reporting

7. Magento Store Maintenance (Price Starting from $80 – $125/hr)

Just as a vehicle needs regular maintenance to keep it rolling, your online store also requires maintenance to keep it up and running optimally. This means you need to spend on scheduled or on-demand Magento 2 website maintenance. Normally, maintenance includes the application of updates and security patches. The cost of these maintenance activities varies according to the scope, frequency, and expertise required for the service.

8. Magento 2 Support (Price Starting from $30,000 – $40,000/yr)

To avoid any technical glitch or issue on your store, you need an on-demand and active support service to keep your store running optimally. For this, you’ll need to hire Magento developers for Magento 2 support service which may cost you around $40,000 per year.

Final Thought

The Magento website development cost is not limited to these factors only. It varies depending on the wide range of options and choices available to store owners while building their Magento 2 website. In this context, the Magento pricing plan reflects the decisions of the store owners and how they want to achieve their business objectives. Additionally, the cost of developing a Magento site varies from vendor to vendor, depending on the experience level and reputation of the service provider.

As a leading Magento 2 development company, we follow the best web development practices and agile methodologies to deliver Magento 2 projects on time and at affordable price tags. If you’re planning to build your online store on Magento 2 platform, simply hire Magento 2 developers from us to get the most intuitive, high-performance, and highly engaging Magento 2 store for your eCommerce business.

Frequently Asked Question

Frequently Asked Questions

What are the benefits of outsourcing Magento 2 development projects to you?

The quality-price ratio is the prime factor to consider when choosing a Magento eCommerce development vendor. In this regard, Magento Developer Group is the premier destination for reliable and proficient Magento 2 developers. We offer favorable rates and an experienced team that allow you to save up to 40 to 60% of your budget on Magento eCommerce site development.

Can you provide a free custom quotation for my Magento 2 store?

Yes, of course. We can elaborate on your project from business and technical viewpoints to meet your business goals precisely. Our Business Analyst along with Magento 2 experts can consult you for free and we can provide you with a rough estimate for your Magento eCommerce website development.

How long does it take to develop a Magento eCommerce site?

The time taken to develop a custom Magento eCommerce website may be approximately 3 to 6 months. This timeline is for a website with basic functionality. If you plan to add more features, integrations, and design of larger complexity, the timeline to launch your online store may range from 6 to 9 months or more.

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