As I could not find any better alternative, I am sticking with the initial approach.
You can do it with these ways below:
For EBS
Backup:
- You can Create an AMI image (Can be updated)
- You can Create a snapshot of the AMI (Done whenever you want with a script)
Restore (A script to)
- You can Create an EBS instance using the AMI
- Then Attach the EBS volume to the create instance
For instance store, there is no need for a backup, because it is just the application without a database.