How much money are you comfortable spending on a new forum/website?

[Ashley z]

Everyone is different when it comes to economics. Some people are fortunate enough to have their parent's bankroll behind their every move. Others struggle to pay rent, let alone put money into a forum that might not even be successful. What about you? Are you comfortable spending money on new online projects, and if so how much is a reasonable amount to spend?

Some people may spend $300 or more on a custom forum theme, but some of the most popular forums use default themes or ones that can be used freely. Other costs that may come up when starting a new site include a yearly $10 fee (sometimes more or less), and high quality hosting for anywhere from $3-10+ per month. How much do you spend to start your site, and how much do you spend monthly/annually after the start up fees (for theme, forum software, etc) are taken care of?

I am comfortable spending between $100-200 in startup costs (for forum software or something similar) as long as I am truly dedicated to the project. I think spending $15-30 per month on hosting or service fees is reasonable.

What about you? Make sure you break down your budget in your reply so we know what you are actually spending money on.

 

[CM30]

As much as is necessary. Today's world requires you to spend money to make money, so I spent whatever's needed on add ons, images, styling and other things in an attempt to be ahead of the pack.

This year alone I must have spent about a thousand quid on XenForo and WordPress add ons...

 

[drucrazy]

I am not going to start with a big investment into a forum/website, my maximum when I start a new forum/website is automatically set around $50. If you invest too much in the start you might as-well dig yourself a hole while your at it, you never know if that forum/website will even make it the first 2 months.

Try to keep the price low when your starting out, you can spend more money later to get add-ons and new premium themes. If people enjoy your forum/website they wont mind something that is free or cheap at the moment.

 

[THF_Martin]

I tend to do things as cheap as possible at the start, generate some interest and then invest if it seems wise. I have done a lot of market research for some projects that never happened because of lack of interest - big investment saved.

 

[Chris K]

Me personally I've spent a good amount of money on my new forum. I've already made a big commitment before I launched the forum. I'm not thinking about how it will fail, I think about how it will soar and take off. It takes time, hard work and sometimes a good amount of money to get things sailing smoothly.

 

[Thomasss]

It seriously depends on the forum. I am like Mr. Krabs when it comes to money, I don't just throw it out there for the luls.

I would be comfortable with $5, since I don't have a paying job I don't have money coming in, and I'd rather keep my savings. :lol:

 

[MasterA]

I guess it depends how much potential that project has. If it is a project that has potential, then I would be willing to spend more on the project. Another important factor is how much revenue the forum/website can generate. If the potential revenue is high then of course, I would invest more. $300 is not a lot for a good project but $5 is too much for a project with little to no potential. The most important factor to me is whether I can re-gain my investment. That would decide on how much I am willing to invest.

 

[Ashley z]

I guess it depends how much potential that project has. If it is a project that has potential, then I would be willing to spend more on the project. Another important factor is how much revenue the forum/website can generate. If the potential revenue is high then of course, I would invest more. $300 is not a lot for a good project but $5 is too much for a project with little to no potential. The most important factor to me is whether I can re-gain my investment. That would decide on how much I am willing to invest.

Very good points, it has to be proportional to how much you think you can get out of the site in the future. I think too many entrepreneurs and web developers spend a lot of cash thinking that the amount of money put into a project directly correlates to how much you can get out of it. Sometimes those two actually do line up, but throwing cash at something doesn't mean it will be returned. I wish everyone realized that.

So obviously you have a range for how much you are willing to spend. Are you willing to disclose how much money on average you have spent for new projects? Not including how much you put into FP or other projects that were started before you joined, how much on average do you spend on projects you are starting from the ground up? Obviously you don't have to answer this 🙂

 

[MasterA]

I guess it depends how much potential that project has. If it is a project that has potential, then I would be willing to spend more on the project. Another important factor is how much revenue the forum/website can generate. If the potential revenue is high then of course, I would invest more. $300 is not a lot for a good project but $5 is too much for a project with little to no potential. The most important factor to me is whether I can re-gain my investment. That would decide on how much I am willing to invest.

Very good points, it has to be proportional to how much you think you can get out of the site in the future. I think too many entrepreneurs and web developers spend a lot of cash thinking that the amount of money put into a project directly correlates to how much you can get out of it. Sometimes those two actually do line up, but throwing cash at something doesn't mean it will be returned. I wish everyone realized that.

So obviously you have a range for how much you are willing to spend. Are you willing to disclose how much money on average you have spent for new projects? Not including how much you put into FP or other projects that were started before you joined, how much on average do you spend on projects you are starting from the ground up? Obviously you don't have to answer this 🙂

I agree. Throwing cash at something doesn't mean it will be returned. With any investment, there is a risk that you may make a loss but that is why you need to plan and assess the risks before proceeding. I only take risks that I can handle so I only make investments in which I can afford to lose. I always look at the worse case scenario and make sure that even if that happens, I can still handle the loss.

The amount I am willing to spend depends on the niche because I need to assess the potential. Generally for new projects, I am willing to spend around $100-$300 because starting new is quite hard these days so I won't be throwing out tons of cash and hope that I can earn it back. If it is a project with potential, maybe a niche that has low competition then I am willing to spend up to around $500. This is just a rough estimate but I am willing to go higher if I can see great potential in the project. In the past, I have started new projects and spent around $200 to get the forum software and domain as well as some as prizes for competitions. However, I did make a loss but I knew that I shouldn't invest too much into this project because it wasn't too unique and things could go wrong. I also went with a free theme, not that because I couldn't afford a custom theme but I didn't want to throw out tons of cash in a project in the start. Regarding projects I started after joining FP, I spend around $70. I don't normally start new projects these days because it is too hard in this market. I normally buy established websites because I see more potential in them.

 

[Lone Ranger]

Lol, I buy hosting and a domain.

 

[Ashley z]

Lol, I buy hosting and a domain.

How much does hosting usually cost for you / what type of hosting do you go for? Some hosting plans cost $100/mo, others cost $3/mo.
Also, what's your favorite TLD? (.com, .info, .net, etc)

 

[AnimeZeroTV]

Well For one, I'm the kind of person that doesn't want to spend money on a website, some of the rates people offer are overrated. While I do respect some of the coders and web designers out there, and some of them do deserve the overrated price-tag they give.

I just can't see myself giving out that kind of cash. 90% of them time, I have to get something done, I would do it myself, that's how it's been for me ever since, that's why I came to like coding and web design.

The market today is extremely tough, especially since there are multiple version of the same niche out there. So you end up starting out on the very bottom, unless you can somehow wow the masses with something new and interesting.

On a realistic note, when I first started out, the minimum i used to spend on projects would be $500. :/ - After a while, I tend to see developers asking for more because of longer durations, So I just end up cancelling the projects and then building it myself.

<_< On a side note, I am brokes now so I don't have the moneyz to pay people for projects, however I do enjoy doing it myself.

 

[Varlot]

When I first dedicate a whole lot of time on making a new forum, I would like to see it succeed. For that to happen, it's only realistic to spend some money. I'd be willing to spend a couple of hundred dollars in the start-up phase, but no near that amount of money after that phase is done with.

 

[Jesus]

I would buy a custom theme, and another forums database to get started

 

[MrDawn]

Nothing because I don't plan on ever owning a forum again. I've been saying that since October of 2014 and have yet to change my mind.

 

[Mikaya]

I personally won't pay any money (I'd choose a free forum software) at least to start with. I have other expenditures (like bills, rent etc) which are more important. In the future, if the forum does pretty well and is successful, and I have some extra money left over, I would most probably use that. So, £50 at the most? I doubt that would get secure anything. 😛

 

[FallenShadow]

I wouldnt start with a free forum software if you plan to go to a paid, self hosted one. Because most wont allow you to transfer your database and you risk losing all content.

Personally I would go with IP.B because i like that software most. And you can either buy a new license or a used one for cheaper. Both just as good.

vBulletin and Xenforo are decent as well. But I've never owned either. Also, security has to do a lot with your host as well, not just the software.