With so many misconceptions when it comes to making money online. I want to clarify that it actually costs money to start an online business. It’s the same saying as it costs money to make money.
Just like going to college to earn a degree. You must first pay for your college tuition. If you walk into the enrollment office and request to go to school for free, you’re probably going to get escorted out.
That is unless you have a full-ride from a sponsor, but still, that cost somebody money.
Fortunately, if you want to make money with a blog, you don’t need a large capital to start. And, your blog might become your biggest income source that replaces your regular day job.
In this article, I want to go over the basic foundation costs that you should expect if you want to start a blog and make money online. Bear in mind, there are multi-million dollar blogs out there and the numbers you’re about to find out may shock you!
Your Domain Name
Your domain name is going to be the name that people will know you by. For example, Apple.com. It’s true that you can get a subdomain from websites like bloggers.com for free. However, having a subdomain can give you a taste of running a blog, but as you progress, you’re eventually going to want to upgrade to a regular domain.
By then, you’ll have to redirect all of your traffic and rebuild the links you’ve built. It’s a huge hassle and definitely not worth what a domain name will cost you per year!
Keep in mind though, the cost of a domain name can vary from registar to registar such as GoDaddy and Hostgator. On average, you’re going to spend anywhere from $10.00 to $15.00 per year plus an additional $10.00 if you want to have a private WHOIS registration which I highly recommend and here’s why!
Website Hosting Services
The next up is none other than website hosting services! Now that you have a domain name, it’s time to find a service provider to host your blog. The cost of website hosting can vary depending on the level of service. For a small blog, you can probably get away with most entry-level services.
The good news is, most website hosting services will allow you to upgrade your hosting plan if your blog grows. For the meantime, most hosting plans will cost you anywhere from $5.00 to $30.00 per month.
Tip: Right now, you can get website hosting services from Hostgator for as low as $2.75 per month!
Believe it or not, a domain name and a website hosting service are all you need to get started. That means for around $100.00 per year as your starting cost, you can have a fully operational online business.
Compared to a traditional brick and mortar business, the cost to start an online business is NOTHING. The monetization portion of a blog is practically free such as Google AdSense, Amazon Associates, Affiliate Programs, etc.
Purchase A Custom Logo
However, there are some additional costs that you should consider since the overall cost is so low. For example, it might be worth it to invest in having someone create a custom logo for your blog.
Your blog’s logo is basically your branding, similar to Apple’s Apple. It’s a great way to differentiate yourself from the millions of other blogs out there. You can either create one yourself using DesignEvo or hire someone on websites like Fiverr!
Purchase A Premium Theme
When you first start a blog using WordPress, you’ll find yourself with a free WordPress theme that works just fine, but you should consider purchasing a premium theme to give your blog a custom design.
Most premium themes can be purchased for less than $50.00 (one-time payment). Some are recurring annually, but that’s not a whole lot of money when it comes to giving your blog a full redesign. You certainly can’t re-model a brick and mortar business for $50.00.
Purchase Premium Plugins
WordPress is a great platform for bloggers because of how customizable it is. For example, there are things called plugins that give you functions that you normally wouldn’t have. However, there are 2 different types of plugins; paid and free.
Most users are familiar with the free plugins because… they’re free. However, as a serious online business owner, you’ll want to have the best for your viewer’s experience.
Also, paid plugins are typically updated more frequently and contain fewer issues since they have customers on the line. That’s why I don’t mind paying the extra money for more security and better customer support.
Tip: Like premium themes, some are a one-time payment, while others can be recurring expenses, so double check before you buy!
As your online business grows, your expenses will also increase. However, when that happens, your income should also be increased as well. Even with all the expenses that I’ve included from: domain name, website hosting services, custom logo, premium theme, and premium plugins. Your starting cost is still less than $100.00 per year!
Tip: My advice to you is don’t treat your online business with the easy in, easy out mentality. You’re probably not going to make much money if any at all during your first year. Some do, but most don’t.
Thank you for reading and if you have any questions, comments, or concerns. Please leave them in the comment section below and I will get back to you as soon as possible!