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What you need to know about Shopify expenses in less than 10 minutes

Shopify expenses are something every business owner has to deal with. A few days ago, I received a question from a friend who has just started his own store. He is new to the dropshipping industry and has a few misunderstandings about the business.

My pal asked me if he could invest $100 in advertising, maintaining his store, and everything else as soon as he began.0

The first what I said was: ‘Wait, what do you mean, everything else?’

He can invest more than $100, but he just doesn’t understand how much he needs to invest and spend to support the store in the beginning. In light of this, I have recorded a video explaining that starting a dropshipping business is not cheap, but the benefits you’ll receive are worth these investments.

So, if you’re looking for information on Shopify expenses when you start your own store, keep reading! In this blog post, we’ll go over everything you need to know about Shopify expenses.

Shopify Expenses in less than 10 minutes
Shopify expenses breakdown

It’s important to track your expenses, so you can stay on budget and avoid going into debt. As a business that sells products online, there are some additional expenses as a Shopify retailer that you won’t have if you operate a traditional store.

These Shopify expenses may not seem like much at first glance, but when you’re keeping track of every dollar spent, it helps to know where your money is going and how to track those costs.

Keep in mind these Shopify expenses when you start a new store:

– Shopify subscription fee – $29 per month. It’s important to remember that you’re not paying for the app or the hosting service — you’re paying for the right fit for your business. Shopify is designed to be flexible and scalable, so you can start small and grow as your business needs evolve.

– Creating a store – would cost from $0 if you create it by yourself to hundreds or thousands of dollars depending on agency rates to create a professional-looking store.

– Domain name – unique web address for your store starts from $9. Your Shopify store URL needs to be available for people to find, which means that it needs to be short and simple. That way, it will be easy for potential customers to remember, and you can use this link to promote your business on social media platforms like Facebook, Instagram, Snapchat, and Twitter.

– Shopify apps – without automation, it would be tough to handle the customer journey. The price depends on the quantity and quality of the apps. Apps are very important in the list of Shopify expenses because they are part of running a successful business.

– Are you planning to grow your store and increase the number of sales? Be ready to hire a fulfillment specialist and a customer support manager.

As you see, to launch a store you need at least $100-150 even without advertising.

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Once you’ve set up your store, you’ll need to create content for it, like product descriptions, images, and videos. You can also promote your products on social media platforms like Facebook, Instagram, or Twitter.

Once your customers are buying from your website, you need to collect payments from them. To do this, you need a payment processing solution like PayPal or Stripe, so even there you’ll need to pay some fees to these platforms. The far you go, the more expenses you’ll have, but this is the only way to grow your business and create better customer service.

In the latest video >>, you will find helpful apps and detailed descriptions of each step.