Are you an aspiring app developer or entrepreneur with an awesome app idea, but the lack of funding is stopping you from bringing your idea to life? Of course, what good is an idea if you do not have any money to kickstart the app development process?
From buying the right app-building solutions to hiring an app development company, there are several expenses involved in this process. Well, do not worry; today, you are going to learn how you can turn your app idea into reality with no access to monetary funds. How? Let’s find out.
Can I Build an app on a Small Budget?
According to Statista, there are over 7 billion mobile phone users in the world. Therefore, you can imagine the potential to promote your company, products and services to a global audience.
Are you just a little short on the required money, or do you not have any funds at all? In either case, you can explore ways to create a mobile app for free.
Of course, having even the smallest amount can help start or accelerate your app development process. In this post, you will learn how to develop an app for free or on a limited budget.
7 Ways to Build an App for Free
If you have no money or are working with a limited budget, here are seven ways to create an app for free or with a small amount of funds.
1. Proof of Demand to Get Investors
This is a concept that entails building proof of the merit, technical feasibility, and value of the app you wish to build. It will cost you money but will help you get funding faster and get your app to the market.
For instance, you can build a custom web version of your app and use the data for its demand as a proof-of-concept to convince investors, developers, mentors, and donors to back your mobile app development. This is applicable for both Android and IOS app development projects.
2. Outsourcing App Development Servcies
A great way to build an app on a limited budget is to outsource your mobile app development project. For instance, if you are a USA-based company, you will find offshore app creation services to be far cheaper than domestic app development providers.
However, you have to ensure that you have adequate knowledge about server administration and app development and inspection. You will also need someone to conduct a quality control check to ensure that the app delivered to you by an offshore service provider is on par with what you need.
If you are not happy with the final app, you can always ask the company for a refund. Therefore, do check the refund terms and conditions of the company before signing any service contract.
3. Share Your Profit with App Developers
If you do not want to share credit with anyone, another alternative is to find an app developer and offer to split the profits equally. However, you have to ensure that you have an exceptional pitch to sell your idea.
You can even ask an app development company to build an app for free and share equity in the earnings. However, you will have to put some skin in the game as well and invest a little bit of your own capital in such a speculative app development venture.
4. Crowdfunding
If you have an exceptional app idea that will make users’ life better, you can always take your app development idea to the public and ask for funding. Several platforms out there allow entrepreneurs from different industries to raise capital to turn their ideas into reality.
The best place to start the fund-raising journey is by asking your friends and family. If not, you can use websites such as Kickstarter, GoFundMe, Patreon, Facebook Funding, etc., to start an app development fundraiser.
Work on a pitch explaining your app idea and how it will help thousands of users. You will be surprised at the number of people that might get behind your app and offer you much-needed monetary support with small to large donations.
You can always offer something in return to increase your chances of getting donations for your mobile app development process.
5. Making a Simple App
Have a limited budget? No worries, as you can always cut down the set of features, you wish to include in your mobile app. Go back to the drawing board with your app development team and identify the features costing you the most.
A quick tip here; you can always leave out the peripheral features without compromising your app’s user experience.
Why not develop your app and launch it with limited features once it is popular? When you have the money, you can add the features you initially left out.
6. Seeking a Mentor or Partner
Finding a mentor or partner can be a great alternative if you do not have the money and hate to ask for funds or help. The idea is to pitch your app idea to an investor, mentor, or financially-savvy entrepreneur and offer them co-founding credits for providing capital for building your mobile app.
You can find a co-founder on sites like Founderdating or CoFoundersLab. You can also try to find a mentor or partner on startup groups on Reddit, Facebook, etc.
7. Joining Sartup Incubators
You can find an incubator program for both IOS and Android app development projects. Being accepted by an incubator program will grant you instant access to funding, expertise, and resources you may require to kickstart and/or complete your mobile app.
Antler is one of the best platforms offering funds, coaching, mentorship, and office space to startups. You will also get help with your finance, administrative tasks, legal and corporate affairs.
Ready to Build Your App?
Now that you are aware of the seven ways to create an app for free or with a limited budget, it is time to get started. You can choose one of the above-mentioned strategies and start raising funds for your mobile app idea. We at Prolific Studio are industry leaders in building cutting-edge mobile applications. Speak to our mobile app development team today!
