Frankly speaking the cost of building an app cannot be estimated easily into a fixed number as it varies. The average price of developing an app has been evaluated or counted from zero to millions. How much building an app will cost boils down to several factors such as the app features, how the app would be run and much more which will be discussed in details.
Read on to find out more.
What is software cost?
Software cost is the overall estimation or the process of predicting the cost required to develop or build a software.
What determines the cost of an app?
In building an app, you have first to identify the type of app you want to develop, for example; is it an iPhone app, android app, or other computing software. However, the following determines the cost of an app which are;
1. Platforms
By knowing the platforms, you want your app to be; it will help in managing cost. Such platforms are IOS, Android, Web much more.
Type of apps
Web
The web app is the mobile version of a website. The fact is as technology is advancing most users have shifted their taste to mobile instead of the web.
Mobile
Native apps are designed for either an Android or IOS and can be downloaded from an app store. It provides a good user experience, sound optimization and works faster.it is suitable for business apps and education apps.
Hybrid/cross-platform
This type of apps is not difficult to build, and here is why. It requires just one programming language, it is used to reach a wider audience, and the maintenance cost is less and easier to manage. Whether you decide to create a cross-platform, native or hybrid app, we at Multi-Programming Solutions can guide you on which best to develop in regards to app cost. It is best suited for game apps, lifestyle apps.
2. Design requirements
Here at Multi-Programming Solutions, we offer three design packages:
Basic
Individual
Custom
The design requirements play an important role also in the cost of an app. The more designs, the more it will cost.
Visual design: As the word connote is what gives your app its unique look and feel.
UX design: It uses the data gotten from user behavior to design user experience to provide a quality result.
You will need your unique Icon, logo, and branding.
Copywriting: you will need good content that keeps users engaged, stating the benefits distinctly and helps users understand the value of using the different features in your app.
Getting an experienced designer for your app development project can vary a lot via their different charges. You might likely pay at least $100 per hour for average designers or up to $200 per hour for professional designers.
3. Complexity
This has to do with the functionality and features in an app. Complexities can be In-apps purchases, payments.
What complexities increase the cost of app development?
If we take into consideration the three parts of the mobile app in respect to complexity, the cost varies because every app is different. Also, the app estimation is based on the amount of time and effort put in building an app. Here are the categories of mobile app development concerning complexity:
Simple: No API integration, no back-end, standard UI components, simple features like email subscription, social login, calendar.
Moderate: Custom UI features, payment features, API integration, headsets and tablets adaptation, back-end server.
There are additional features that determine the cost of mobile app development. These features can add beauty to your app, which is Audio, Camera, 3rd party API, Dashboard, Task list, Search, Rating system, Chat, Gallery, QR code, Calendar, Social sharing, Push notifications, Ads, Multilingual, Data collection, Geolocation, Offline capabilities, Activity tracking, Augmented reality, Virtual reality, Data export, Maps, Backup.
App pricing models
We at Multi-Programming Solutions provide you a start-up estimate covering the work to be done, or hourly charge model.
Fixed Rate: We give an estimate based on the scope of work. This is the primary form of app pricing model; but if the project changes the cost also changes.
Time and materials: We offer an upfront estimate, we charge on a weekly or monthly basis.
How are app development costs estimated?
We do estimates using a simple method, where we break down the app development process:
The features
Resources
Time
Once we understand the features of an app, the resources involved and time required to build the app, we can then break down the cost.
Why initial estimates often go under?
Here is why apps cost more than estimated:
Developers that use the Bait method to get you in the door, then start charging you a ridiculous amount for every single code.
When the scope increases during the app development process, the initial estimates often changes. Multi-Programming Solutions, we believe in transparency when providing our estimates to clients.
Most entrepreneurs want to develop the best product which is good but should also bear in mind that the scope changes to the cost.
On average, the time factor can be three months for low-end apps and 6 months for high-end apps.
Four ways to build a mobile app
The fact is the developer who will develop your app influences the cost compared to the functionality. In choosing your developer, you have to do your due diligence.
“As the saying goes cheaper isn’t necessarily better.”
Here are some options you can choose from when looking to build an app— each with positives and negatives.
1. Foreign teams
With regards to foreign teams, they’re most likely your least expensive choice. This implies you are working remotely with India or Russia. The cost is low, yet the risk anyway is like the end product. You barely see who you work with and their portfolios can be tricky when you can vouch for it.
Yes, you might get a team but not a complete team with a product manager, designer, developers, and much more.
2. Freelancers
It’s easier to hire a freelancer, but you cannot compare to having a good developer in your team. Just like the offshore team, you probably know little or nothing about the freelancers. The negative side of hiring a freelancer to build an application is some lack of experience, tools or they might be delivered late.
3. Technical co-founder
Choosing a technical co-founder are an incredible choice if you’re an established business person with a reputation.
4. Established app development company
The best and secure way to build a great app, is hiring from an established app development company. Multi-Programming Solutions falls into this category.
Our developers are innovative and have lots of experience in building, developing and shipping successful software or apps. You can check out our reviews, and awards, and track records says it all, because we always leave our clients satisfied.
Three things to keep in mind when hiring app developers
Product Comes First
One thing you must always bear in mind is the end product, not the amount of money spent.
The real cost of design
Apart from having great technology, if you have a terrible design, no one will sign up or use your app. Design is “how it works not just how it feels or looks like” Steve Jobs. The design is what users see first and interact with, therefore if you want a useful app you have to put in a lot of effort in bringing out the best design for your app.
Don’t forget the marketing
Yes, you have developed an awesome app, a professional designer helped you with the UX. What’s next? Being such a beautiful app, it will shake the world. Well, the thing doesn’t work that way. You forget a step, the marketing aspect. How will they find it? Will it promote itself? Making your app visible in front of your customers is vital to your profiting.
Engagement models
Multi-Programming Solutions – we provide a flexible solution to meet our client needs. We understand that the details of each type of collaboration, compatibility, app pros, and cons and pricing are essential in the engagement model.
We at Multi-Programming Solutions give our customers a satisfying experience with three engagement models that are classic to their needs.
These models are:
Committed and professional team
Our team is highly committed to any given project; we offer our customers a team of experienced developers concerning their demands at Multi-Programming Solutions.
Fixed Price
Our fixed price covers both the time and scope of the project. Although this only works for specified goals and project but is changeable when the scope of the project is adjusted.
Time & Resources
At Multi-Programming Solutions, our billing process is equated to an hourly rate of each developer. This model is best for app projects that require new changes during the development process.
An ever-increasing number of organizations are seeking after front-line innovation to refine market shares and productivity. They began focusing on the product and applications development. Be that as it may, the accounting for software is not quite the same as IT systems developed for sale. So, evaluate how IT investments are executed, planned and distributed. For example, always try to predict the operational and functional advantages of each software application, measure the benefits and cost to know where your software is lagging and correct the gaps.
Benefits of capitalizing app software development costs
Capitalized software costs are expenses such as overhead charges, QA, programmer compensation.
Software capitalization is the internally-developed software used inside the company only. These are production automation systems, membership tracking systems, cash management tracking systems and accounting systems.
Here are the advantages of capitalized software:
Ratio analysis
Tax effects
Revenue smoothing
GAAP compliance. Capitalization is often required to be in harmony with GAAP. Capitalization is a complex process, so feel free to hire a certified public accountant.
When to stop capitalizing and start amortization of software development costs?
“An organization’s amortization and combined IT depreciation cannot be more than 20% of entire IT budget”.
Once the software is in use, first identify the cost of the app
Secondly, consider the competitors and technology advancement
Lastly, when the software product is made available, the capitalized costs should be amortized.
Conclusion
Pertinent to say, it is difficult to describe in one article how to evaluate the cost of a software project. We hope our brief explanation will help you find your answers to the above questions discussed in this article. If not, Multi-Programming Solutions is always ready to help you estimate and evaluate your app idea.
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