How much would it cost to have a video hosting website created?

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You can make a good guess but it really does depend on a lot of things. Also.. it's not a bad idea to over shoot.. sometimes projects can get bigger than you originally planned.

For outsourcing.. that can depend on finding an affordable programmer/designer that knows what he is doing but is also priced affordably. Just make sure they know what they are doing before starting.. there are a growing number of "experts" out there now with fake portfolios.

The only other thing you'd need is a server.. You'd probably just need to start out with a VPS and then move up as you use more space and get more traffic.

I have a VPS from SiteServing and love them.. they have eight different plans, so you have a lot of wiggle room.. It's not like you have to jump up to a Dedicated right away. Their VPS's are priced very affordable.. cheapest being about $16 or so. Not bad at all...

Also... figure in the price for advertising... blogging, social media, articles... that's all free but if you get into other marketing efforts it can be quite expensive. WickedFire forum is a great place to look if you want some good prices on getting more traffic to your site. Also you can of course place ads on your own site to make some extra money to help balance the cost of creating your site.

Hope that helps..