Subscribe to our newsletter:

Download from AppStore
iPhone / iPad
  • Lifestyle
  • Shopping
App profile

A Financial Guide to Creating Your Own App

20 Jul 2020 Developer News
rss subscribe
RSS Subscribe
Apps on sale

With the increased number of people using mobile devices for their daily browsing, apps have emerged as a more user-friendly option. People spend 90% of their time on mobile devices using apps for shopping, gaming, online dating, reading, listening to music, watching videos, and just about anything else you can think of. Business owners recognize the need to implement a mobile app into their business model, but it requires quite the investment.

Here is a breakdown of how much it will cost you to create your own mobile app.

How much does it cost?

A mobile app can cost anywhere from $1,000 to over $250,000. The spectrum is vast, and many factors will determine how much you'll be forking over for your app. Regardless, you will need to fund the development upfront and seek financing and investment options. Find out about different loan options from Cash Lady, such as no credit check loans, consider starting a crowdfunding campaign to obtain community support, or look for local or global investors.

So, what factors will contribute to the cost of your app?

1 Which platforms

The first factor you'll need to consider is which platforms you would like to design your app for. You can choose to make your app compatible with either Android, iOS, or both. When you select only one platform, it is called a "native" app.

Contrary to what you may think, developing a native app is actually more expensive than a hybrid — aka an app that operates on both platforms. That is because native apps run more effectively, as you can integrate them with many platform-specific features, such as the camera. They require more work from developers to ensure they are as high-functioning as possible. Native apps offer a better user experience, as hybrids have more generic development, enabling them to run on both operating systems.

2 Design requirements

The next thing that will determine your costs is the design elements you want to incorporate into the app. Anything that can be done via a template will save you money, and anything custom will cost extra. Cellflare breaks down some of the differences between the two. Here are the main design elements that you'll need to consider:

  • UX design: How the app functions and the design elements that create a better user experience.
  • Visual design: How the app looks and feels, including all visual design elements and layout.
  • Branding: Your logo, app icon, and brand identity development
  • Copywriting: All written texts such as descriptions, in-app prompts, and any other text that you need written that conveys your brand identity.

3 Complexity

Lastly, any additional features you want to incorporate into your app will be an additional charge. The more complex, the more you'll pay. The cost comes predominantly from your developers' time spent integrating the extra features for you. Gaming apps are some of the most complex apps to develop, so they will cost you the most. Here are some examples of additional features you may want included in your app that will cost you more:

  • In-app purchases
  • Integration with other platforms (i.e., Facebook, Google, Instagram, etc.)
  • Email login
  • User profiles
  • Rating systems (like/dislike, thumbs up/thumbs down)
  • Location tagging
  • Data sync

Creating an app can help future-proof your business and boost your user experience, but it's good to understand what to expect financially so you can make an informed choice.

Share this article: