Making money from blogging can be a lucrative business for some people. In the beginning, you probably won’t make much. But as you put in the time and effort, you can earn enough to replace your day job. Eventually, a blogging business can even reach five to six figures in earnings if you get a lot of traffic and target the right niche.
But how much does starting a blogging business cost? We’ll take a look at the relevant parts below. Also, personal loans or small business loans can help you begin your site quicker, so that’s something to consider.
The three basic costs of starting a blog
Compared to a brick and mortar business, the cost of starting a blog is quite low. You basically need to have a domain name, hosting and a content management system. And as expected, the total cost will depend on your choice of providers.
Getting a domain name
Once you figured out a good domain name for your business, you need to go to one of the domain name registrars to register it. Different registrars will have different options depending on your needs. It might come with private registration or a coupon code that gives a steep discount on the first year. On average, getting a domain name will cost anywhere from Â£8 to Â£16 a year.
Web hosting needs
You need reliable hosting to host your business blog. You can go with free hosting solutions. But the downside is you lack control and personal branding with these options. For long-term benefits, it’s better to go with self-hosted blogging platforms. And to do that, choosing a good Web hosting company is crucial. Most of these companies come with cPanel that makes installing a blogging platform like WordPress easy. Hosting can cost anywhere between Â£2-Â£11 a month for shared hosting to Â£60-Â£500 for dedicated servers.
Content management system
The best part about choosing a content management system(CMS) is that the most popular one is free. WordPress is an open-source CMS, and over 35.2% of websites use it. It’s easy to install and doesn’t require a lot of technical skills to run. Unless you decide to go with a SaaS solution like Wix or Weebly to manage your content, there is no other fee to install and use WordPress.
Other costs to consider
Starting a blogging business website is relatively easy. The challenge is to grow it into an asset that is worth keeping. Depending on your skill level, you can keep costs to a minimum or spend according to your business needs.
Cost of content
A blogging business needs content. So depending on whether you’re outsourcing it or producing your own content, your cost will vary. Typical content creation costs would include writing, graphics, or videos that you’ll use on your blog.
Designing the site
Again, like content creation, you can do some of the work yourself with various design tools online. Paying for a premium WordPress theme can also be part of your expenses if you decide to go that route.
Marketing your blog
A blog wouldn’t be successful without proper marketing strategies. You need to factor in SEO, social media advertising and paid advertising costs for your blog. This would not be necessary for a personal blog. But for a blogging business, this is absolutely crucial.
Having a stable cash flow is essential, so you should consider getting a loan to support your business. You can compare loans with loan comparison websites to find the best lenders to finance your blogging business.