How Much does It Cost to Make a Mobile App?
In the last five years, a quality mobile app has become a “must have” product almost in all industries. From small coffee shops to manufacturing giants, business owners all over the world are utilizing the power of mobile commerce to keep in touch with their customers and provide them with exceptional service. Considering the launch of a mobile app is always a good idea as it enables you to get extra information about users, track their activity and build a new channel to search leads, pitch products and maintain high-quality service for existing clients. However, after the creative process is over, the question of the mobile app cost always occurs. How many financial resources should you allocate to get a quality app? Where to find vendors and whether your expenses will pay off soon?
Frankly speaking, the prices for mobile app development vary widely, which means it is often problematic to run the numbers and come up even with approximate estimations. Developers’ rates, project duration, app complexity, and app elements are just a few of the factors that influence the final cost of the project. Let’s look into all aspects of building a mobile app and figure out how much money you will have to pay out of your pocket to get a quality product.
Factors Affecting the Cost of a Mobile App
Before assembling an in-house team or delegating a project to your partner, you should keep in mind that building an app implies striking a balance between the following three areas: developing a minimum viable product, getting high-quality software with all the innovative features and optimizing resources to avoid overspending. If you manage to find the “golden mean”, you have all the chances to make your users and investors satisfied. Needless to say, adjusting the project cost always involves comprise, but it is your choice whether to make it or not.
Mangosoft has extensive experience of developing Android, iOS and cross-platform mobile applications for customers around the world and can surely state which factors to consider before setting the budget for your project:
- Expertise of Your Development Partner. While a senior developer might charge over $150 per hour, you can hire less experienced specialists with $25-30 hourly rate. The choice of a specialist is highly dependent on technical requirements, quality standards and cooperation model. You might also consider geography before hiring the right specialist to your team. To attune the project cost, small and large businesses often outsource a developer from another country to fill out the skill gap. Gig culture has grown into a rapidly developing gig economy that enables IT specialists from different regions to work on a single product. Statistic research shows that outsourcing a specialist from Easter Europe ($25-150) is two times cheaper compared to the US and West European developers ($50-250). Whenever you need an extra pair of hands to support your team in the project, reach out to overseas service providers to get your work done quickly and efficiently.
- Technical Complexity. Simple app with no extra features, such as Pomodoro Timer, Flashlight, will come at $7000-8000. This software is the best match for small businesses which do not want an app to perform lots of functions. However, if you require a medium complexity app, be ready to pay $10 000-15 000 out of your pocket. This is an average cost of a project among popular software development companies. Large organizations often want their partners to meet customer development needs. In this case, be ready to pay 6 or even 7 times more for a quality mobile app. For instance, outsourcing software development companies charge nearly $70 000-90 000 to build an app like Tinder or Uber.
- Choice of the Platform. Did you know that Android apps are 2.5 times more expensive compared to iOS? iOS mobile apps come at lower costs because they are simpler to set up. iPhone apps come at $7000-10 000, while the cost of an Android app might exceed $15 000. We also have a good tip for you to optimize your budget. Cross-platform application work on all devices, so they have the potential to reach a broader audience. Although they might not work as smoothly as a product designed for a particular platform. Furthermore, such a project might require more time for adjusting the application for different screen sizes, platform versions, resolution and testing.
Who can develop a mobile app?
When you are aware of all the rates and costs, it is the right time to make your idea alive. For this purpose, you have to find developers with expertise in a specific field and ensure they will deliver a quality product upon the deadline. There are three primary hiring models you might consider to develop a fancy new mobile app:
- Find Freelancers. Freelancing is the cheapest way to make an app. On the web, you can find numerous platforms with developers wishing to support you in the project. Rates vary widely depending on the specialist’s geography, experience and qualification. However, keep in mind that you will have to spend lots of time to assemble a team, delegate tasks to them and control execution. Apart from that, quality is not their main priority. You never know what kind of product you will get in the end!
- Outsource a Project. Outsourcing is often the most optimal solution when you need to get a quality product within a limited timeframe. Lots of corporations, such as Microsoft, Apple or Cisco Systems, use outsourcing services on a regular basis. They find reliable vendors and strive to build long-term collaboration, which brings them lots of benefits in the form of discounts and special offers.
- Outstaffing. Want to have full control over the development process? Outstaffing is your choice. It allows you to create a team in another region, assign the tests and keep track of all activities. Developers communicate with you daily to provide updates and inform you of the progress in the project. This alternative provides you with greater flexibility as you can change requirements whenever you need.
So, how much does it cost to make a mobile app? As you see, the price might vary depending on many factors including technical requirements, developers’ experience as well as the choice of a platform. Apps of middle complexity might come at $10 000-40 000 depending on the hiring model you choose and features you want to integrate. Contact our software experts to get accurate estimations and breathe life into your project idea.