This question is often attempted to be answered in blog entries because it is a commonly asked question usually by people wanting an app but not having any idea on the technical implications and therefore costs. As a result it is often the case the cost of building an app is higher than expected.
The one thing that bugs me if I attempt to come from a client’s perspective is that no one seems to give any figures. So here we’ll do just that, but first maybe it would help asking a little easier question.
What’s the smallest cost to build an app?
This will vary from agency to agency but for us, in the interest of transparency, the cheapest we can feasibly build an app for is around £20,000 (As it stands today March 18). Let’s look at the reasons why. The first reason for this is that it’s difficult to get an app from nothing to AppStore in less than a month. If you consider discovery, design and build processes; A month is achievable but the app would only have a small amount of features and likely any backend work is already in place or very simple or not needed. As a result you need at least two developers fulltime for a month, a UI/UX designer and an office. A company can barely make any profit after the costs of this recipe has been stirred.
There are some agencies in Brighton who would struggle to do anything cross platform for less than £20k (iOS and Android). This is due to higher running costs of the business and development techniques for example when at least two developers are needed to build iOS and Android apps. (Also if they have been able to build a good reputation for quality apps).
What’s the highest cost to build an app?
This is an interesting question and as an app development agency you might expect a different answer.
One of the principals we follow in Agile Development is known as Pareto’s law. This essentially says you’ll get 80% of your results from 20% of your efforts, so why not establish what’s known as an MVP (Minimum Viable Product). To us every project is an MVP and we’ll always recommend not squeezing in every feature under the sun to ensure best possibility of success. Decide what the core problem your app is solving and then look to solve that one problem to start with and address smaller secondry problems afterwards. This will reduce your initial cost risk and will allow you to prove the business has actual viability. You may then either implement additional features within a matter of weeks or months depending on your marketing strategy.
Again as it currently stands the higher end of apps we have built have been over £40,000 for the MVP. These Apps haven’t had tonnes of features crammed in but more, apps that have required bespoke functionality typically on all platforms, including web.
Impartial App Estimation
We tend to use this very helpful online tool to come up with a baseline estmate. It is very general but considers the primary factors for costs adding up in App Development. HowMuchToMakeAnApp.com is a great site to send people to if they’re looking for that ballpark figure.
App Development Funding
Various options are available when it comes to funding the development of your app. Depending on what you’re hoping to get out of it you might wish to use a startup funding circle where donations are made or part ownership is offered to the funders. www.fundingcircle.com or www.crowdcube.com
You could also access funding options via schemes like https://www.virginstartup.org or perhaps the development company themselves offer funding. For example AgileAppCo. Ltd partner with LDF one of the UK’s largest providers of independent SME finance solutions to offer options with funding your app development costs.
Why not contact us today to discuss your app ideas with us and we’ll see how we can help make your business a reality.