Knowing the exact amount of money required to build an app is a little more complicated than it appears. It’s similar to asking what the price of a house would be; well, that depends on the type of house you want to buy. The final cost of a Palm Beach mansion or a Fort Lauderdale house is in the details.
Let’s go over the various factors that must be considered when creating a budget — but first, make sure you understand the following:
Your concept would actually solve a problem for a specific group of people.
Even if there are some apps that are similar to your idea, you know how to make yours stand out.
And you are CERTAIN that your buyer personas will make your app profitable.
Let’s take it a step further now! It’s time to put your feet on the ground and consider how much MONEY you’ll need to complete your project:
So, let’s look at some numbers: the simplest app for a single platform with very basic features will cost around US$25,000, while more complex apps will cost more than US$1,000,000.
But don’t be afraid; even if you have to invest a lot of money, mobile apps aren’t just for big name brands. Apps are the best way to keep your customers engaged with your product or service and build customer loyalty now that cities have evolved into city tech. Also, as the market becomes more competitive, costs will fall.
Budgeting for app development is a complex process; price differences can be significant because of a variety of factors. To begin, you should be aware that app costs are largely determined by features, complexity, and platform.
You must also be clear about what you want your app to do. Will it be available for Android, Apple, or both? However, keep in mind that costs will vary depending on who develops the app: a freelancer, an offshore development team, or an inland agency.
As you can see, determining how much it will cost to turn your app idea into a reality is not an easy task, but just because we’re cool, here’s a guide to help you out:
Who is going to create it?
Freelancers: On average, a senior iOS / Android developer charges around $35 USD per hour. Keep in mind that when you hire a freelancer to develop your app, there may be a lack of communication, setbacks, and dependability in terms of delivery deadlines.
Offshore app development team: Prices vary as well; for example, a Mobile App Development Company with 60 employees in South India charges 18 US dollars per hour, while another with 200 employees in Bangalore charges 35 US dollars per hour.
American App Development Agency: The cost of the service is estimated by project; for example, Applico’s prices range between $100,000 and $300,000 USD, Savvy Apps’ prices range between 150,000 and 450,000 USD, and Fueled’s prices range between 150,000 and 500,000 USD.
What kind of app is it?
After determining which app developer best fits your planned budget and needs, it’s time to meet with your app builder to discuss the type of app you’ll create.
Native Apps: Because each mobile platform has its own set of development tools and interface elements, Native Apps are specifically designed and coded for a specific type of device. They provide users with the quickest, most consistent, and responsive experience possible. Prices for a custom native app range from $25,000 to $50,000. Multiply that by the number of platforms you need to support, especially since you now need to build it for both iOS and Android.
Web Apps: A’mobile version’ of a website, an app like this (if we can call it that) loads within a mobile browser, such as Safari or Chrome. Although this is the cheapest option, Web apps are severely limited in terms of features and always require an Internet connection to function. Basic Web Apps range in price from $5,000 to $15,000 USD. Keep in mind that Google prioritizes mobile-friendly websites in its search results, so having a responsive website is a must.
Hybrid Apps: These fall somewhere between native and web apps and are generally faster to build than native apps but not as fast as web apps. However, keep in mind that Hybrid apps have several key limitations that force native to be the only option in many cases. Hybrid apps range in price from $600 to $2000.
Every ingredient, just like when you go to a restaurant and order a custom pineapple/olive/bacon pizza, will be added to the price.
Access to App Data Management: This is determined by whether the application needs to connect to servers in order to perform searches, update their information in real time, and display the results. Calculating how much this would cost is imprecise, but you can estimate it by time. Remember, time is money, so developing the simplest app data management would take one month and the most complex would take about a year.
Geolocation: Another factor to consider is whether users require information based on their location. You could, for example, display information about the nearest store or simply determine where you took a picture. This feature will take your app developer less than 6 months to develop.
Users Registration: The app will be more expensive if it requires a user login. In terms of size and type of data stored, this will be determined by the database used. In addition to geolocation, the development of this feature will take about 6 months.
Push notifications: In order to send customized messages to users, you must consider the type of notifications, whether a notification management interface is required, and whether it should be integrated with an existing system. You’ll need the same 6 months for this feature if you’re working with geolocation and user registration at the same time.
Design: Of course, apps with advanced and complex interactive options take longer to create than simple ones with basic menus and tabs. The simplest design would take less than a month, while more complex designs would take 3 months or so.
As you can see, there are numerous factors that will influence how much it will cost to develop your app, but at the very least, you now have an idea of how to structure your budget.