Part 3 Mobile App Business
If you are in the mobile app business, you monetize through paid downloads, membership or advertising. It is not as hard business as you might think, simply because the distribution system is already set up for you by Microsoft, Apple and Google.
Meaning the place where you will be selling your app is already available Microsoft app store, IOS app store from apple and google play. The sales channel is in place once you create your app. The hardest part of any business is the distribution channels, and here it’s available for a little cost as you will see.
The Size of the App Market:
To give you an idea about the size of the market, let’s look back in 2008, we had only 500 apps available for download. Pass forward 2017 we have over 2,200,000 apps and growing. The apps downloaded 10 billion times. Apparently, there is enormous demand for the apps based on this Impressive download number!
Let’s say you have a good idea, and you think it will make people’s lives easier, hire a developer and create the app. Then choose from the options mentioned below on how to make money from the process.
How to earn money from your app business:
To make money, you will have to decide if you want to charge per download, make membership fee or rely on advertising alone to earn income for the business.
Some businesses start by giving their app for free, increase their user base and later offer users extended features for a small fee. Many companies rely on advertising and data collection to make money.
Your costs for starting an App business
Your costs will be developing the app, marketing, and app store fee. For Google play, you need to join and pay a one-time registration fee of $25 before you can upload an app. It helps ensure higher-quality products. Visit Google Play Developer Console to learn more.
Finally, things to consider before listing your app:
- Maturity ratings,
- The file size of your app, Google only allows apps of 50 MB or less to be published,
- Featured image,
- Setting the price and if you decide not to charge for the app and give it free, you won’t be able to ask for any money later. It will be permanently free.
- Promoting your app.