Are you considering using Shopify to launch your online store? Some people don’t prefer to take Shopify web development services, if you’re from one of them, then this article is for you. If so, you’ve likely heard of the two different plans they offer - their monthly plan and their yearly plan. It can be overwhelming to decide which plan is best for your business, so we’ve put together an in-depth look at both plans to help you make the right decision.
We’ll take a look at the pros and cons of each plan, as well as the pricing and features associated with them. In the end, you’ll be able to decide which plan is the better option for your business. So let’s dive in and take a closer look at Shopify monthly vs yearly plans!
How Does Shopify Work?
In the world of Ecommerce website development, Shopify has a great name. Shopify the best website builder is an ecommerce platform that helps you build an online store to sell physical and digital goods or even services.
You can use Shopify to create a website of your own in which you’re the sole owner and seller of products. Or, you can use it to run a Shopify store — this option gives your storefront access to the enormous Shopify ecosystem, including its robust app marketplace and easy-to-use hosting infrastructure.
Why Do You Need An Ecommerce Website?
You're here because you want to sell products online. Whether your goal is to increase sales, make money, improve customer experience, or increase brand awareness—it's all about ecommerce.
Ecommerce websites are becoming more popular than ever before. There are many reasons why people choose to create an ecommerce website instead of a traditional business website:
- It's easier to build and maintain than a typical brick-and-mortar store. You don’t have to worry about hiring employees or dealing with stock levels or anything like that! All you need is some basic technical knowledge about how the internet works (which hopefully by now you have).
- You can reach more customers globally than in any other way possible before now – specifically, those who shop online instead of at physical stores nearby their location.
Shopify Monthly Vs Yearly Plan: An Overview
Before we dive into the pros and cons of each plan, let’s take a quick look at the details of each plan. The Monthly Plan allows you to host your online store on Shopify’s platform while accessing all of the essential tools to run your online business. You can set up your online store, create a marketing plan, and use their integrated payment processing to sell products. The Yearly Plan is a slightly more advanced option.
With this plan, you get everything that comes with the Monthly Plan, but you also get access to Shopify’s advanced analytics and personalized store recommendations. With these features, Shopify can take a deeper dive into your business data to offer you better insights into what is working and what isn’t.
Shopify Monthly Vs Yearly Plan: Pros And Cons
Pros And Cons Of Monthly Plan
The thing that makes the monthly plan so appealing is the fact that you don’t have to commit to a year-long contract. This makes it a great option for new businesses that aren’t yet sure what’s going to work and what isn’t. It also makes it a good option for ecommerce businesses that are growing and may need more than what’s offered in the yearly plan.
On the other hand, monthly plans only last for a month at a time, so if your business is growing and you need more access to the tools offered by Shopify, you’ll have to keep extending your plan each month. This can become costly in the long run, and not many businesses have the cash flow needed to keep extending the plan month after month.
Pros And Cons Of Yearly Plan
With the yearly plan, you know upfront what you’ll be paying each month. This can help reduce monthly cash flow issues as you won’t have to keep going back and forth with your payment every month. You’ll have access to all the same features as with the monthly plan, exceptfor the advanced analytics and personalized store recommendations. You won’t get those features until you move up to Shopify’s yearly advanced plan.
Shopify Monthly Vs Yearly Plan Comparison
As mentioned, the monthly plan is billed monthly, while the yearly plan is billed yearly. The yearly plan is less expensive per month than the monthly plan, but you’ll have to pay the entire yearly fee upfront. So if you’re not sure how long your business will last, the monthly plan is the cheaper option. The monthly plan starts from $1 to $299. The basic plan cost $1 per month, the medium basic plan cost $79 per month, and the advanced plan is $299 per month.
And if your business doesn’t last long enough to earn back the upfront yearly fee, Shopify will give you a refund. At the end of the day, though, the monthly plan is generally more expensive than the yearly plan.
The yearly plan starts from 29 USD/year on basic, the medium Shopify plan costs $79/ year, and the advanced plan starts from $299 per year.
The monthly plan is more basic and doesn’t come with all of the tools and features that the yearly plan offers, including advanced analytics and personalized recommendations. The yearly plan also comes with a free Shopify store builder app, as well as a free app store where you can find apps that help your business grow. You don’t get any of these features with the monthly plan.
What happens if I cancel my Shopify subscription?
Your store will remain as it is until your next billing date. At that point, your store will be automatically downgraded to the Basic Shopify plan, and you won't be able to make any changes to your store or access it. You'll be able to use all of the data in your account up until the end of your current billing cycle.
What happens if I change plans?
If you upgrade or downgrade your plan, it will take effect immediately but won't affect your next billing date. This means that even though you'll be charged more or less depending on the change, you'll still have access to the same features and benefits as before until your next billing date.
Conclusion: Which Plan Is The Better Option?
In the end, it all comes down to what your business needs. If you don’t have the cash flow for the yearly plan, the monthly plan is still a great option. If your business is growing and you need more access to the tools offered with the yearly plan, you can always move up to the yearly plan later on. At the end of the day, both plans are great, but only you know what your business needs.