Not only is it possible but, for most of my business clients, it is essential! Regardless of how well (or not) you speak Spanish having your site in Spanish opens it up to the Spanish market - they will Google in Spanish so at least part of your site should be in Spanish. Once your Spanish visitor is on your site they can rely on their own English skills to understand the rest.
To add a multi- lingual component should cost between 50 and 200 Euros depending on whether it’s a new or existing site; the complexity and size of the site. This will pay for itself with your first (of many) Spanish Client!
This assumes that you have the Spanish for the content. I don’t recommend “on-the-fly” translation services because they can produce nonsense.
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