How Much Money Is Needed To Start an Online Business?

Want to know the cost to start an online business? Then you probably want to read this because you will find out how much money is needed to start an online business that can make you a lot of money so keep reading.

There are many ways to start your online business so In this article, I will narrow it down to some of the most profitable and easy to start business models that people make money doing.

We will go through each business model and the cost of entering.

This post contains affiliate links, which means that if you were to buy anything that I recommend through my Link, I get compensated. It doesnt change the cost. Find out more at our Affiliate Disclaimer.

Blogging

laptop computerYou can start a blogging business and build up your blog to make 6-figures and even more if you stick to it and have a long term strategy.

It takes some time for a blog to grow but it becomes more and more valuable over time as you post content to it and get links from other websites.

One of the best things about blogging is that we can get visitors to our blogs for free, and search engine traffic converts very well into sales. Because the people who come to our blogs are often looking to buy something already.

You can start a blog about a niche topic that interests you and make money doing all sorts of stuff and it is cheap.

All you need to pay for is web hosting and your domain name.

How much does web hosting cost?

I pay £96 per year for my web hosting and I use Siteground.
They provide very fast and secure hosting and a lot of features that make them my favorite, so I stick with them.

Here is my Review of Siteground Hosting.

There are other cheaper alternatives, even if you would like to try them.

How much for a domain name?

I register domain names at Dynadot for $8.25
You can get domain names from other services. Web hosts usually offer domain name registration also.

You can start a blogging business for around $100 per year and if you produce your own blog content then that is all you have to pay.

If you want to pay someone to write articles for you to grow your blog then the prices vary.

At the low end, you can expect to pay $8 or $9 per 1000 words.

At the high end, $72 per 1000 words.

Related: How to start your blog for profits

Affiliate marketing

Affiliate marketing is a business model and it is when you sell other people’s products as an affiliate and receive a commission for every sale that takes place through your affiliate link.

The beauty of affiliate marketing is that you can find almost anything you would like to promote, in any niche and sell it for a commission without creating your own products yourself.

You can recommend products, or use banners on your blog website to send traffic to the sales page and make money every time people buy.

You don’t have to deal with refunds, or complaining customers or any of that.

It is free to join affiliate programs, so you can start affiliate marketing today at no cost whatsoever.

Here is a list of affiliate programs and places where you can promote affiliate offers to earn money.

Read this post.

Drop shipping

Drop Shipping is another online business model where you sell physical products as a middle man. Instead of stocking up an inventory in a warehouse to sell it out, you transfer the shipment details and orders your customers make, directly to a wholesaler or manufacturer. So that they can ship the product to the person that you sold to.

This is a highly profitable way to start an online business, a lot of people have gotten rich doing this.

However, it is not as simple as affiliate marketing, affiliate marketing is completely free and you don’t have to deal with customers at all.

With drop shipping, you have to deal with customer support, and sometimes, customers want their refund and you have to deal with that yourself or hire virtual assistants to help you out and do it for you.

How much does it cost to start with dropshipping?

The start-up cost will vary depending on who you listen to but somewhere between $600 and $1200 as a start-up capital would be the best.

You can use a platform for eCommerce where you can set up your store and start building your business, it is very popular and it is Shopify.

Basic Shopify cost $29 per month
Shopify with everything you need cost $79

If you decide to start a dropshipping business using Shopify then that is the cost of getting started.

You will also need to buy visitors to your store.

You can do that through Google AdWords.
Facebook ads
You can buy shoutouts on Instagram.

There are many places you can buy traffic to promote your store and get sales, but it costs money so you need at least $500 to get started.

Email marketing

You can also start an Internet business with email marketing.
With email marketing, you collect email addresses from people.

It can be through a blog with an opt-in form to a newsletter.

Or through a landing page where you offer a “lead magnet”, which is a free ebook, rapport or course. Something that people would want for free.

Once you have their email address you can send them emails and promote affiliate products, or your own product to them.

Email marketing is one of the most effective ways to make money online.

Big businesses do it all the time. Any business website you land on pretty much has an opt-in form where they collect emails.

You can do that and make money selling products to your email list.

In order to do that, you need an email marketing platform.

I use Getresponse myself.

The cost of Getresponse is $15 per month if you go for the cheapest option.

There are other platforms as well.

Here is a list of the top 3 email marketing platforms that I have used myself.

You can also read my Review of Getresponse right here.

Related:

Top 3 Benefits of Email Marketing

What is the cost of an email marketing platform?

Expect to pay anywhere from $15 to $30 per month.

There are many ways to build up an email list but the quickest way is to just buy visitors.

One good way to build up an email list if you are into the make money online/internet marketing niche is to buy Solo ads.

You can use a seller on Udimi.com to buy traffic to your landing page to collect emails and send affiliate offers to your list.

Here is a $5 discount on udimi if you want to use it.

You can read my Review of Udimi here.

You can also buy traffic from places I mentioned for dropshipping.

You probably need at least $300 to buy traffic and build your list to start making money from it.

The cost of email marketing?

$15+ per month.
$300 or more for visitors.

Summation

You can start your own business online using any of these methods.

How much money is needed to start an online business?

You can start a blog business and get paid through affiliate marketing, or Adsense ads.

The cost is about $100 per year.

You can become an affiliate marketer and sell products for others for free.

You can start an eCommerce business with Shopify for $79 per month.
And buy visitors to your store.

You should have at least $500 to get a good start.

You can start an email marketing business and sell products to people via email.
An email marketing service costs anywhere from $15 to $30 depending on which company you choose.

If you blog to get visitors to your email opt-in form then the traffic is free. If you want to buy visitors with solo ads or other traffic sources then you should have at least $300.

You can get about 700 unique visitors for $300 on udimi.
When you start making some sales to cover the cost, you can reinvest in more solo ads and keep building your email list.

Any of these methods will work for 2020 so go out there and make some Money!

Related posts you can read now:

How to start affiliate marketing for beginners

Make some Money with google online for free

How you can Make Money online with zero capital

 

 

Add a Comment

Your email address will not be published. Required fields are marked *

error: Content is protected !!