Building a successful app costs Rs 5,00,000. Here's An Epic Way To Raise It.

Posted on 14 August, 2015 by Team Wishberry

Innofest 470x246-03 From managing finances to reminding you how much water you should be drinking and when, apps have pretty much got every aspect of our lives covered. No matter what need you’re catering to, one major factor that influences the entire process of building an app from start to finish is the money. Here are a few cost-incurring aspects of the game that you should be aware of.
  • Intellectual Property protection

Protect your idea first! Don’t know how? Get in touch with a lawyer who’ll help you. This should cost you about 35,000-45,000 INR.
  • Web hosting and bandwidth

Domain name registration, website hosting, web design, SEO, tools and plugins are just some of the things that are going to feature prominently on your list of expenses. This bunch should approximately cost you Rs. 20,000.
  • App design and development

A UI/UX designer will cost you between Rs. 20,000 to 50,000. An app developer will charge you anywhere between Rs. 20,000 to upwards of a lakh depending on the complexity of your app. In all, the costs incurred here will be around 1, 00,000 INR for android and 50,000 INR for IOS since the basic framework of the app is already done.
  • Marketing

The best marketing trick is word of mouth, which is usually free. If you have to, you can consider spending partnerships with brands that have a similar audience, targeted online ads, tech fair participations, offline activations etc. The more innovative your marketing strategy, the higher your budget. It can go as high as 1,00,000 INR.
  • Team

You will need the following key people in your team to make an app that kicks all other apps’ asses: QA tester, programmer, UI/UX developer and designer, content & digital marketer and tech support.
  • App submission

Apple’s iTunes charges around 6,000 INR per annum, whereas Google’s Play Store charges a registration fee of 1800 INR. In all, a very good app will cost somewhere around or above 5,00,000 INR.
Sounds pretty expensive, right? Got no money? No problem!
Yep. There is a solution. It’s called crowdfunding. Sure, you’d rather get Venture Capital funding because it gets you the big and the headlines. However, you might still want to consider crowdfunding first for the following very legit reasons:
  • You get to jumpstart your beta phase

Crowdfunding not only lets you raise money for this, but also puts you in touch with just the kind of people you need during this phase, making this a thoroughly collaborative effort, without much trouble!
  • You get to validate your product

The greatest benefit of crowdfunding is that you get amazing insight into the market’s readiness for your app, which in turn helps you build a better product. All in exchange for some fun rewards and perks!
  • You find early adopters

Just what an app needs - a community of early adopters who later on become advocates of your app. Crowdfunding helps you reach out to just the right kind of people. If you have chosen the right platform, the community that has its eye on innovation will take you more seriously. If they like your idea, they will make sure everyone sees and knows it.
  • You get the attention of the right investors

Run your crowdfunding campaign well, nail your beta launch, and it is bound to cut through the massive digital clutter, get traction in the right circles and get the big players’ attention. Add the crowd’s validation to the equation; you’re sitting on a gold mine. However, a good point to remember is that, crowdfunding will work for your app, only if you have a ridiculously unique idea, like a Tinder for the differently abled or a gardening system that waters itself.

We keep cluttering the internet with our writing.

Keep yourself updated