How much does it cost to set up an eCommerce business?

How much does it cost to set up an eCommerce business?

I get asked this a lot, this is what I found.

If you have time to invest in doing the work
USD$15k

Breakdown is
$5k for stock (Many places have minimum order quantities)
$5k for advertising (You'll need this to find customers)
$5k for everything else (Store setup and other costs)

You'll be doing most of the work, like setting up ads and a store (keep it simple, so it doesn't turn into a 2-year task!)

If you have less time and more money
USD

$45k
Most will go on setup and paying agency fees, you'll just need to manage the process.

Costs will vary, as you can save in some areas. This is designed to give you a ballpark figure so you know what you're getting into.

"What about dropshipping businesses that I've seen advertised for $500?"

Firstly I wouldn't bother unless you want to just learn about eCommerce and not build a business. Remember, if it sounds too good to be true, it normally is.

Here's the rub, it might not work out in the first or second store. So you could do 3 stores and spend $45k to get one that sticks.

I figured I'd just buy one that was already working for a lot less and remove some of the risks. That's what I did back in March, and it's going well.

If you want to join a private email group that has people from Google, Facebook, Adidas & Airtasker where I teach them how to buy and grow an eCommerce business below, comment interested below.