WEEK 9: HOW MUCH DOES IT COST TO BUILD AN APP?

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As we work on the final project one of the key questions we still need to address is the cost. There is cost to everything and we need to figure out what will be the cost to build the app we are designing. Our budget is $200,000. Is that a lot or a little? How far will $200K get us?

Different factors play a role in the cost of the business:
  • Start-up costs
  • Our wage
  • Marketing costs
  • Development costs
  • Hiring an accountant
I want to focus on Development costs here because I think it is very significant cost right up front. To keep the cost and complexity down I have decided to first focus on Android platform. I picked Android platform for two reasons. One reason it seems that there is less competition in our field on the Android platform. The second reason is that according to research firm IDC Android operating system had 78% share of all users globally and Apple's iOS only 18%.

A survey of IT professionals conducted in 2013 by AnyPresence, a backend-as-a-service company, asked about the initial cost of developing a typical mobile application. Over half reported spending more than three months and over $50,000 developing a typical app. Very nearly a quarter reported spending over $100,000.

I found different websites designed to estimate the cost of developing an app. They all ask different questions about the requirements, which can help think through all requirements and to make sure that nothing is omitted. I ran through each calculator and answered the questions as well as possible about the features we are planning to implement.

1. Otreva

App development company Otreva has a calculator site to estimate the cost of developing an app based on which features are selected. I selected features that seemed appropriate to start with, but not go overboard. The estimate came to about $99,000.

2. Tusnua Designs


Another calculator is available at Tusnua Designs. It generates an estimate of what they’ll charge to create an app. I generated an estimate for our app and total came to around $45,000.

3.   Kinvey

I tried out the app cost calculator at Kinvey, a Backend-as-a-Service company. I generated an estimate for our app and total came to around $111,000.

Based on 3 estimates I think it’s safe to plan that we need to spend around $100,000 to just build our app. We have $100,000 left for other expenses. Will that be enough?
 


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