How much money is required to start an e-commerce store in India?

It is a cool idea to develop your own e-commerce store in India. Today I will discuss that how much money you need to invest to build your own e-commerce store.

1. Domain name cost

2. Hosting cost

3. Inventory cost

4. Payment processing cost

5. SMS (OTP) cost

Domain name cost- If you want to start an eCommerce store then you need a website and you will need a domain name if you want to build a website for an eCommerce store. A domain name is the name of your website or URL. It will cost you ₹ 500 to ₹ 1500 /year in India.

Hosting cost - A web hosting service is a type of Internet hosting service that allows individuals and organizations to make their website accessible via the World Wide Web. When a hosting provider allocates space on a web server for a website to store its files, they are hosting a website.

Web hosting makes the files that comprise a website (code, images, etc.) available for viewing online. Every website you’ve ever visited is hosted on a server. The hosting server which you are choosing should be compatible with shopping cart software. Costs range of hosting a website in India is from ₹ 2000 to ₹5000/year.

Inventory cost - Ecommerce inventory management is the act of measuring the amount, location, pricing, and mix of products available from your business. You have to develop an inventory management system in your e-commerce store and it can cost you an extra amount.

Payment Gateway cost: A payment gateway is the simplest way for a business to collect digital or online payments from their website or app. Payment Gateway charges you roughly 2-3% per transaction.

SMS (OTP) Cost: To verify the customer you need to send an OTP to the customers' phone number. OTP SMS Gateway can cost you around ₹ 2000 to ₹5000/month.

Website designing cost - In India, you should expect to pay between $1000 and $10,000 for an eCommerce store website. This price could be lower if your site has less functionality or go higher if the design involves complexity.

In the above points, we have discussed the cost you have to spend for building your own eCommerce store. If you want to avoid these above costs and want to make a free online store for your retail business then we have an option for you.

We have a free online store app for Indian retailers called FotoKart. This app is available on the google play store for both buyers and sellers.