The web has allowed anyone with a passion to bridge their skills to the market and start their own business; this has given the rise of the affiliate marketing business, as well.
Unlike business in years past, it’s inexpensive to launch everything you need to start and operate a successful venture. The following is a breakdown of what your likely expenses will be when you’re in the startup phase.
Domain Name (~$10/year)
The domain name is a yearly, recurring charge that will run you as low as $10 though you may find yourself purchasing a premium domain, initially, at a higher cost depending on the brand name you’re after.
Domain name registrars like GoDaddy, 1&1, and NameCheap are all great companies to find the domain name for your new business.
Web Hosting (~$15/month)
Web hosting is the second crucial part of your online business – it’s what stores and serves up all the files and keeps things running online. Web hosting, depending on the scale of your package, can range from free to about $15 a month for the average individual (with higher prices for larger, higher traffic websites).
Web hosting companies such as HostGator, 1&1 Hosting, and BlueHost are heavily favored amongst many affiliate marketers because they’re affordable and reliable.
Website Theme (~$15 – $30)
Speed is important when it comes to launching a business online which is why it’s generally best to purchase an existing, premium theme for your website (whether it’s HTML/CSS, WordPress, Drupal, or any other platform you use to operate). Premium themes generally cost about $15 – $30 but some marketplaces have subscription options gives you unlimited access to multiple themes.
Optional Purchases and Finance Tips
A few other items you may wish to purchase are as follows:
- Email marketing services (about $20/mo through Aweber)
- Premium blog plugins (~$10 – $30 for good ones)
- Design work (~$15 – $30/hour)
- Copywriting (~$5 – $20+ an article)
These are all optional, of course, so your main investments will run you less than $50 to begin and drop to about $15 a month to keep in operation (the hosting).
I’m sure you can spare $50 to start an online business but if you’re having trouble coming up with funds at this time than I could recommend the following:
- Sell a few unwanted items on Amazon or Ebay
- Participate in an online contest and use proceeds to launch the biz
- Take a very small, personal loan from a friend or family member
- Write a few articles for a freelance client
The barriers to begin your affiliate marketing business is so low that you could easily get launched this afternoon – you’ve got an understanding on the finances, now make it happen!