Establishing your domain name is an essential first step in starting your business.
However, the reality is, your domain name is an extremely important decision, so it’s important that you choose the right name.
Before we dive into the cost of a domain name, we must first understand exactly what a domain name is, and why it plays a vital role in starting your business.
What Is Domain Name?
Domain Name is considered to be apart of your website costs when getting your small business off the ground.
Your domain name is the URL and name of your website - this is how internet users find you and your website.
Domain names are extremely important and should match your company name and brand. This makes it easier for customers to remember you and return to your website.
One of the most common questions we get at Starter Story is “How much does domain name cost in 2021?
In this post, we will explain everything you need to know about:
- The average cost and breakdown for domain name
- The best tools and services to use for your domain name
- How to make the most of your money when investing in a domain name
How Much Does Domain Name Cost?
- Minimum cost of domain name: $12
- Maximum cost of domain name: $200
- Average cost of domain name: $106
This estimate depends on a number of factors, including which service or tools you choose, the scope of your business and your overall needs as it relates to domain name.
Below, we will dive into the best tools and services to jumpstart your domain name.
Best Tools And Services For Domain Name
There are plenty of different tools and resources available to help with domain name.
It’s important that you do your due diligence to determine your exact goals as it relates to your domain name.
First and foremost, you should ask yourself a few questions prior to starting your research:
- How much can/should I spend on domain name?
- What value and return will domain name bring to my business?
- Do I need a professional domain name service or tool, or is this something I can do without?
- What will the ongoing costs for domain name look like?
Once you have an idea as to what you are looking for, it’s time to begin the research process!
We’ve identified the top tools and services for domain name:
Additionally, if you're looking to hire talent to create and find your domain, there are plenty of freelancer networks you can use:
GoDaddy Website Builder is an online editing and publishing tool that helps you create a website, regardless of your technical skill level. Just create an account, pick a design and use the built-in editor to add your own images and text. You can make your website as simple or complex as you'd like. You can even add a full online store complete with product listings, coupons, shopping cart, shipping, and multiple payment options.
Shopify is one of the #1 leading platforms for e-commerce businesses.
Here are some of the main reasons most e-commerce businesses are using Shopify:
- Geared towards supporting store owners. Provides a simple way to launch and manage your online store
- Customer support is off the charts (live chat)
- Easy to use - You don't have to worry about the technical side
- The design is clean and mobile-friendly. There are also hundreds of templates you can use.
- Easy integrations and additional channels (ie. Amazon, email marketing integrations, Facebook, etc).
- Basic Shopify: $29/month
- Shopify: $79/month
- Advanced Shopify: $299/month
How To Keep Domain Name Costs Low
It’s easy to get ahead of your budget as it relates to your domain name.
After doing research on the different tools and services available, you should consider a few things:
- Is domain name something I can do on my own?
- Is there a low cost or free way to get my domain name (ie. freemium versions, partnerships or trade).
- Are there some parts of domain name I can do on my own, and others I can buy or outsource?
It’s important you spend the time asking yourself these questions so that you are the most prepared when it comes to your domain name.
To help you put your money where it matters, we put together a list of 20 free small business budget templates, including a startup cost template to help you get your business started.
What Other Website Costs Should I Know About?
Domain Name will be one of many website costs you will need to consider when starting your business.
To learn more about other website costs’s and best practices, we put together a list for you here:
- Domain Name
- Web Designer
- Website Hosting Costs
- Business Email Hosting Service
- Website & Live Chat Tool
- Website Builder
Hey! 👋 I'm Pat Walls, the founder of Starter Story.
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