Starting an e-commerce platform can be an expensive venture, especially if you want to build your e-commerce website from scratch–but you shouldn’t let a lack of funds to develop your website stop you from making your products available online. With Shopify, you can successfully develop, grow, and manage your online business. But how much is Shopify? Read on to find out.
What Is Shopify?
Shopify is a popular e-commerce platform designed to allow businesses to sell their products and services online. It helps you create an online platform for your business, list your products or services, and manage your listings. There are millions of active merchants on this platform, selling all kinds of products and services. If you are wondering whether you need an EIN for Shopify, you don’t–if it’s a small or medium-sized business. You can just run your store as a sole proprietor using your SSN or SIN to manage your taxes.
Shopify allows you to integrate all your stores into one platform. For instance, when you create a single online store, it lets you sell your products in different places, including via the web, in person, mobile devices, physical stores, pop-up shops, social media, and online marketplaces.
As a cloud-based e-commerce platform, Shopify makes it possible for you to access and manage your listings remotely. With an advanced Shopify accounting software like Synder, you can easily have your financial information compiled and organized instantly.
How Much Does Shopify Cost?
One of the main questions that merchants ask when setting up their stores on Shopify is: How much will I pay for Shopify? Others want to know if they’ll be charged a setup fee when creating their Shopify stores. Fortunately, Shopify doesn’t charge any setup fees on any of its plans, so you are free to create your Shopify store whenever you’d like.
Another common question is whether you need to enter your payment details to start using Shopify. The answer is: no–you can set up your Shopify store and use it for two weeks without giving out any payment information. After the free trial period, you’ll have to enter your payment details and choose a payment plan. However, Shopify takes a percentage of each sale. Therefore, if you’ve chosen a basic payment plan, Shopify will take 2.2% of every online sale.
Every month, you’ll be required to pay $29 for your basic plan. This is not a bad deal, because it allows you to list an unlimited number of products and it gives you blog functionality to optimize your store.
A basic plan also provides a tool to help you analyze fraud risks. A standard Shopify plan costs $79 per month and takes 1.9% of each online sale. This plan gives you access to 24/7 support, a fraud risk analysis tool, your SSL certificate, and discount codes.
If you choose an advanced Shopify plan, you’ll be required to pay $299 per month and 1.6% of every online sale. This is an advanced version of the standard Shopify plan and comes with numerous add-ons, including fifteen staff accounts and third-party shipment calculations. The advanced Shopify plan is for well-established businesses that are already successful in their niche and desire to expand their operations to other areas.
In short, how much you pay for your Shopify store depends on your preferred plan and the kind of benefits you want to utilize. The better your plan, the higher the amount you’ll have to pay. However, better plans offer more tools and benefits to help your e-commerce business continue growing and thriving.