Mobile app development is a highly growing field, because of the vast opportunity and demand for mobile applications in all industries. Creating a stunning app costs at least $25,000 – a fee that makes it challenging for small businesses or even individuals to afford.
If you have experience in developing mobile apps, you will know that the hardest part is not in the actual development, but in monetizing your idea. As a mobile app developer, you do have another option that you can explore so that even after you start selling your apps you can still generate revenue from different streams.
There is Money in Features
There is no need to develop and sell an entire mobile app so that you can make some money. Companies are willing to purchase apps that they know have stunning features. Rather than developing the entire app, you can instead, sell the code that will help them use these features. By doing so, you are enabling companies with limited experience in app development, have professional and effective web apps. This works out as a win-win situation – cheaper for the company, and more profitable for you.
What to Consider When Setting the Right Prices
To sell your features and make some excellent profits, you need to find the right marketplace and offer your code as extension features. Then, there are some things that you need to keep in mind so that you sell your source code at the right price. These include: –
- Considering future upgrades as you may have to absorb these costs.
- The period of time needed for you to recover your investment.
- Understand why someone is purchasing your source code. If they want to use it to make money, you can charge them a higher amount. Problem solving may require a more reasonable charge.
- Factor in negotiation when you are setting your price. Remember, that the person you are selling the source code will try their best to bargain. It is challenging to set a fixed price for this type of intellectual property.
- Compare the costs that other people are charging, and set within these parameters so that you can be more competitive.
When selling your source code, pay special attention to detail. Make sure that you have ensured you have made the right decision regarding the rights that you retain for the code. Also pay attention to the licensing and your offers for support once the app is in use. Setting clear parameters on how and when you should be contacted is essential.
To get people to experience the features that you have to offer, you can begin by selling your app. Once people touch and feel, then they are more likely to purchase and then source. As someone with the skills to develop a mobile app, you should never experience frustration when it comes to a return for your effort. Monetize by selling your source code.