Are you bored of the usual nine to five hustle? Deciding to create an app will take you in the right direction to fulfill your entrepreneur’s dreams. It is a fruitful investment when done with proper planning, considering each parameter. There are so many factors like pricing issues, cash availability, no financing, and feeling burnt out from the lack of success. As per the CB Insights report, 29% of startups give up on their dream venture due to a cash crunch.
There is a proportional dependency on the success rate with respect to liquidity; however, a lot of other factors help in maintaining balance too. While planning on investment and execution with limited resources, one should not pick cheaper options. Learn here how to establish goals for your new digital marketing campaigns efficiently.
In this article, we will take you through the real cost to create an app and the additional incurred expenses. You’ll learn the factors that affect this price and what are the hidden costs that are often not taken into consideration. Besides, a well-planned execution may help in getting the value out of your investments.
How much will an app cost you?
There is no definite formula or number to calculate the exact cost as so many factors are involved. These factors can alter the cost of app development by the time it is ready to hit the shelves.
Moreover, all the apps cannot be categorized under the same working conditions and graphics. Since gaming apps require more high-end graphics, the price goes up. Meanwhile, the games with simple graphics that do not operate on the internet do not require heavy-duty graphic work. They can work well with a decent graphic structure and minimal budget.
On average, the app development cost may lie between $10,000 and $150,000. When working on a simple application, the price may lie on the lower end of the spectrum or a little higher than $10k. Besides, it will be ready to use within 90-150 days. A small database and basic API features in an app will cost up to $50k and will be ready in 6-9 months.
For an advanced app with a larger database and graphics, the cost may lie between $50k and $150k. This may take nine months to come into existence. All these numbers provide a rough estimate of the app cost. You may go into more details about the features of the app to find out more specific numbers. There’s a chance that you may go overboard with features and surpass your budget.
What are the factors governing the overall cost of an app?
The factors governing the overall cost of an app may be dependent upon how complex the app is with the design and structure. Moreover, its running platform and other intricate details also establish the final cost. Let’s discuss these factors in detail, including apps design, the complexity of the app, and the tech stack involved in making the app.
Your app’s design and speed will greatly impact the user experience. Read and learn here the importance of web hosting for web speed. The application should have a well-thought design and easy-to-use design for a user-centric experience. The main focus should be on factors like color psychology, navigation, cohesiveness, and placement of buttons as per their functions in the app.
It should be easily understandable for a user without any hassles and misleading navigations. Besides, soothing and attractive colors, the key to getting more people to enjoy using the app. There should be ample graphics and interactive screen elements. The additional high-end graphics with shapes, items, typography, and general layout will enhance the user experience.
Besides, there should be features to authenticate the app with social networking sites. These will add up to the cost along with the app designs as mentioned above. The written content on the app will also be a deciding factor for app costs. Ensure that you pick the best copywriter for the app who understands crisp writing. Finally, the SaaS marketing of the cloud software after finishing the design will increase the cost.
Tech stack refers to the technology that develops the app. To develop a native app for iOS or Android, you will need a dedicated tech stack for the servers, UI, UX, and other elements. For a hybrid app, you may need a different complex tech stack to fulfill the technological needs.
Talking about the cost, a native app will cost considerably less when compared to a hybrid one. It only requires platform-specific people to assist the development, hence costs less. However, to create a cross-platform hybrid app, you will need more brainpower along with technological elements. This will substantially increase the cost with an increase in human resources.
The complexity of the app and its features affect the overall cost of the app. There are endless features that you can add to your app to make it more functional. You may get overwhelmed while narrowing down on the required features. This will impact the cost at the end of the development.
Features like sign up, log in, search, notifications, user profile, messaging, customer support, and more are very basic ones without being too extravagant. You can also add features like social media integration, location access, payment portals, secure gateways, etc. These will improve the user experience but will raise the cost too.
Later you may decide on a marketing goal as per your Facebook audience and other social channel requirements. The integration of advanced features like online streaming, rating, native features, audio, and video calls will take the cost higher. You can expand these features depending upon the advanced level of technology you need in your app.
What are the hidden costs of app development?
There may be a lot of factors that go overlooked when designing an app. These may not fit under any factors as mentioned earlier; however, need considerations to estimate the actual cost of app development. Therefore, keep a close check with the designing and developing team for factors such as,
- Infrastructural cost
- Support charges
- Admin and management charges
- Functional costs
Execution of the App
Your app’s plan needs impeccable execution to reach the users. Here are some ways that promote a smooth execution with on-time deliveries.
Local agencies: You may pick local agencies to develop your app. This will eliminate the geographical barrier and get you the top services with regular updates. You will be able to have clear and transparent communication with the local agencies. Moreover, there will be no delays in any process as they will be directly answerable to you. This is ideal for developing complex apps if you are running low on time. However, this will cost a lot more than outsourcing.
Outsourcing agency: This is the most cost-effective way to develop an app. The main benefit of outsourcing is excellent quality along with timely deliveries. You can use technology to keep the communication flowing despite the geographical barriers. This makes outsourcing ideal for developing your app with a restricted budget. For more detailed information, take notes on how much it costs to make an app with the right objective, experienced developers, and services.