If you are reading this, then you must have decided to do something of your own. You must be having an idea that you want to bring to life. And the key factor for which you are here is the cost analysis. No matter which business it is, you need to formulate a precise plan for startup funding stages investment and make it worthwhile in the end.

As per CBInsights, 29% of businesses fail due to the cash problem. They run out of cash really soon. And the pillar reason behind this is the lack of planning at the beginning of the project.

So, it is important for you to focus on and implement the project discovery phase effectively. It will help you analyze the cost involved, along with its dependence on multiple factors.

Here in this article, we will provide you with a brief idea about the cost of creating an app with businesses like Digitaltrends. We will also study the ways via which you can reduce the cost of an app. Besides, you will also get an idea about the factors that determine the final price of your app development project.

How much will an app cost you?

Frankly speaking, there is no one answer to this question. When we talk about the price of developing an app, there are various things that can alter the final value.

All the apps are not the same; for instance, gaming apps require a lot of high-end features like awesome graphics. Hence, there is a lot of money involved in making a gaming app. On the other hand, if we talk about simple apps like games that do not require internet access or have a simple interface with just decent graphics. These apps will not cost you much.

On a wide scope, we can say that your app development cost will lie between $10k - $150k. Let’s be a bit specific here,

• * For an absolutely simple application with simple functions, the price may be just over $10k, and it will be ready for use within 90-150 days.
• * If you want an app with a small database and basic API features, it will cost you around $10-50k. The time required here will be 6-9 months.
• * Lastly, for a perfectly advanced app with a large database and state of the art features, the overall price will be within $50k and $150k. This type of app will take over nine months for development.

This is just an estimate of how much an app will cost you; the exact value may be something else after it is known what kind of app you want to develop and what features it contains.

What are the factors governing the overall cost of an app?

Among the various other factors, the key aspects that affect the overall cost of building an app are the app’s design, the complexity of the app, and the tech stack involved in making the app.

Let’s take a comprehensive look at the factors involved:

Design

The design of your app will greatly affect the user experience. And as user experience is the essential element that your app should have, it is important to make an app with a top-notch design.

You must focus on factors like color psychology, the way users usually navigate in the app, and of course, the placement of various buttons in the app. This will make the app appealing to the users and will also enable them to use it without much hassle. The colors of the app are the key magnets to attract the users to it.

The design of the app also includes graphics and screen elements. Having high-end graphics along with elements like typography, shapes, items, and overall layout greatly affects the user experience too. Moreover, other features like authentication, social networking, etc. will add more cost to the app design.

Lastly, the app design factor includes the branding and marketing of the app. This also affects the cost of an app. And of course, the writing on your app interface will be responsible for attracting more users. For engaging writing, choose the best copywriter for your app and add the writer's charges in your overall cost.

Tech Stack

Tech Stack is actually the technology that is required to develop the app. Now, if you are developing a native app like for android or iOS, it will require a specific tech stack for server, UI, UX, and others. In contrast to this, if you want to develop a hybrid app, you will need a different and complex tech stack for that.

As per the cost factor is concerned, it will be less in developing a native app. As it will require only platform-specific people for development, the cost will be low as compared to the hybrid app. The cost of employing people in making a hybrid or cross-platform app will be more as you will need people who are professionals in both platforms. The manpower will increase, and so will the cost.

Complexity

This is another crucial factor that affects the overall cost of the app. There are many features that you will like to add to your app, obviously, if it is required for that. Hence, the cost of the app goes up with the addition of more features.

Some basic features that are needed in a simple app are login, sign up, search, notifications, profile construction, messages, etc. these will not cost you more. But if you like to add features like social media integration, payment portals, geo-location, location tracking, better security, etc. these will raise the cost of an app and also its functionality.

The cost can also skyrocket due to integrating additional advanced features like video chat, in-app call, online streaming, native features, and rating systems. These features form a part of high-end apps like Netflix, Tik-Tok, etc.

Are there any hidden costs in app development?

Yes, the app development process has some hidden costs that are not classified under any factor. Hence, it is necessary to check them with the development and designing team. Here are some of the hidden costs that you need to know about:

• * Infrastructural cost
• * Support charges
• * Admin and management charges
• * Functional costs

Who should you hire to save costs in developing an app?

Well, there are various ways via which you can get an app developed. Here are some of your best options:

Local agencies: The first way to get your app developed is via local agencies. The advantage of this method is that you will get top-notch work with timely updates. You will never witness a delay in the process. On the other hand, the cost of this method will be sky-high.