Today it seems like everyone has an idea for a mobile application.
This isn’t surprising.
The mobile industry is trending upward from both the consumer and business perspectives.
But before you dive in head first and start development, you’ve got to do some research.
Find out what types of apps make the most money if you think your idea might be the next big hit like Instagram or Snapchat.
If you’re trying to improve your existing company, you’ll need to crunch some numbers to figure out if it’s worth it to build a mobile app for your business.
But most importantly, how much will it cost to develop a mobile app?
I get this question all of the time.
If you ask 10 people this question, you’ll get 10 different answers.
The reality is – it depends.
That may not be the answer you were looking for, but let me give you an analogy you that can relate to.
How much does it cost to buy a car?
There isn’t a one size fits all answer.
It depends on lots of different factors.
Well, same goes for mobile app development.
These numbers aren’t set in stone, but they give you an idea of vast price range.
There is no “out the door” price either.
Your app will continue to cost you money even after development is completed.
Think back to the car analogy. You’ve got to put gas in it, oil, get regular maintenance, change the tires, brakes, and much more.
With so many elements that influence the cost of development, is it even worth it to hire a mobile app development agency?
As an industry expert who has lots of experience building mobile apps, I can help clarify some of the pricing for you.
Then you’ll be able to decide for yourself if hiring a developer is worth it the cost.
Factors that influence app development
It’s important to know what you want before you get started.
I wouldn’t recommend jumping into the development stages without a clear plan, strategy, and goal for your app.
Here are some things to consider to get you started in the right direction.
What’s the primary function of your app?
What is your budget?
How do you plan on building it?
What kind of time frame do you envision from production start to launch?
You’ll also want to consider your launch strategy, so you can get downloads and even come up with a way to get ranked in the App Store.
So start writing a complete business plan for your app development.
This plan should recognize that there are different stages for developing your app.
You’ve got to plan and budget accordingly for each stage.
In order to make sure you’ve got enough money to pay for each stage, you’ll need to consider where your funds are coming from.
The last thing you want is to run out of money halfway through the project due to poor budgeting.
Then you’ve got a partially developed app that’s worth nothing and no way to get your money back.
If you own an existing business it may be easier for you to secure funding.
You can use money from your company’s checking account to pay for this.
You’ll also have more luck going to a bank for a loan and borrowing against the business to secure a line of credit.
For those of you that are planning to develop a new app as a startup company, you’ll likely need to raise money from investors unless you’re independently wealthy.
Jason Calacanis, a successful entrepreneur, and angel investor, recommends raising $750,000 to get started.
Don’t get thrown off by that number.
That’s not necessarily how much it will cost you to develop an app (although it might be).
Jason factors in paying for a small team to work on the startup company and other fees associated with operating a business, in addition to paying for development.
We’ll discuss the cost of paying employees shortly.
I’ve come up with a guide that breaks down the factors impacting the cost of mobile app development into six major categories.
Overhead
Complexity
Server hosting
Operation system
Who builds it
Type of App
I’ll go through each one of these factors and explain everything you need to know to get a better understanding of how much development will cost for your own unique situation.
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