Tarun Nagar 
Almost all businesses are progressing with the support of technology where website development, mobile app development, progressive web apps, cross-platform apps, and hybrid apps are the options. Although you can go with any one of it time, for the business owners, it is too tough to manage the payments for their project. Read this blog to know more about how can you develop your next project with flexible payment schedule?
What will happen next if you have a flexible payment schedule for mobile app development costs?
When it comes to having an app for business purposes, most enterprises are concerned about the cost of their app or web, or both. The next bottleneck is to pay the cost to the mobile app development company for their work.
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The Need For Project Development With Flexible Payment Schedule
Usually, there are three types of businesses that exist based on the size, which are-
- Large Scale Business
- Medium Scale Business
- Startups
Somehow large, scale, and medium business scale businesses arrange the payment for project development but for startups available with limited funds or having financial burdens, it becomes quite tough to pay the app development cost. If you are also looking to develop your next mobile app without any financial burden and looking for the best options, then this blog might help you the best.
This blog is dedicated to the ways that you can follow to go through project development with Flexible Payment Schedules. Here we will try to cover all the aspects regarding the same.
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The Science of Mobile App Development Cost
Do not confuse about the title; it is all about how a cost estimation takes place for website development and mobile app development or how a project’s cost estimation takes place?
So the first point is several factors contribute to the overall cost of bringing the project or app idea into real life. The app development cost depends on crucial factors such as UI/UX design, the platform you want to focus on, backend & frontend development, testing, and app submission and launch.
Still, it is tough to determine the exact cost of mobile app development. But yes, you can go with the following steps for the app’s cost breakdown. It will give an idea about how much budget you need to spend approximately.
1. Project Scope
The first thing that you need to think about the while estimating the cost to find out the best option to develop your next project with Flexible Payment Schedules. The project scope refers to the number of features, complexity, and other functionality of the app.
The first initial and perfect option is MVP – a minimum viable product. It contains minimum features. The point is that suppose you have a limited budget, then MVP can be launched in fewer amounts. Its cost ranges in-between $10,000- $25,000 USD.
2. Labor Cost
Either it is web development cost or mobile development. The labor cost is the most influential factor. It includes the wages of professionals involved in project development. The team of experts to shape the app includes:
- Project Manager: These experts remain in direct communication with clients and work as communication channels between clients and the app development team.
- Front-end Designer: The front-end designers are the professionals who are responsible for designing & developing the app visuals and its layout.
- Mobile App Developers: The professional who writes the code for the backend, infrastructure components, integration of the database, and third-party integration are called mobile app developers.
- Testing Experts or QA: The experts who ensure the quality of the app by putting it into rigorous testing conditions.
3. Platforms
The apps can be developed for various platforms such as Android, iOS, and the Web. The cost depends on the platform you are going to focus on. Usually, web apps are less costlier than mobile apps. Specifically, if you go for mobile app development, then there is a difference between Android and iOS app development. You can also opt for cross-platform app development for mobile apps, which is a cost-effective option.
4. App Features
The features have a significant contribution to the cost of app development. It includes the basic features and other features such as third-party integrations, in-app purchases, user & admin panel development, and custom designs.
5. Testing & Publishing
An app or website can’t be published without testing, and on the other hand, for publishing the app, you need to submit the fee to the app repository. For testing an app, there are some tools, and the cost of these remains included in the overall cost.
How Can Project Development With a Flexible Payment Schedule Happen?
It is such a best way to develop the project with a Flexible Payment Schedule as there will be no financial burden on you as the payment will be monthly, quarterly, half-yearly, or yearly basis. If you need it, then it can also happen as per the project development phase.
Regarding flexible payment, there are some options that you can choose accordingly, and these are:
1. Stage Payment Schedule
As its name implies, you have to make the payments in stages. By following this model, the customer pays a significant portion at an initial stage, and then the rest of the payments will be in stages as follows:
- 40% at the time of signing the contract.
- 40 % at the time of project completion
- 20 % after the project is delivered in fine condition
It gives you the freedom to manage the funds as you know at which stage you have to pay the mentioned amount. It can be negotiated as you can pay a less amount at the start of the project, then you can schedule the payment in installments based on the project price.
2. Milestone Based Payment Schedule
It is more than a fine model compared to the stage payment schedule. Its success is that you can start with a very minimal amount. It works like while signing the contract; you have to pay only 10-20% amount to the software development company. The rest of the payment is to be done after each milestone.
3. Fixed Payment Schedule
There are several complications with implementing large projects, and one of the complications is budget management. The best remedy is to develop the project with a fixed payment schedule. It also works fine for small projects. The payment is made based on a fixed timeline with the clients’ consent. As a project owner, you will pay a fixed amount every month so you can manage the other funds.
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4. Hourly Based Option
It is also known as the time & material payment schedule model, where payment takes place based on the material and time required for shaping the app or website. The payment is calculated on an hourly basis. It also provides flexibility if you need mobile app development services for some specific time.
How To Build An App Within Optimized Cost?
It is okay that you are in the search for app development or project development with a flexible payment schedule. From your side, you can follow some steps to optimize the cost of your next app. One of the best options is to hire hybrid app developers who can help you to get a cost-effective app for your business.
These crucial steps are:
1. Research Phase
Although it is an initial phase but most important, it is the phase where you will sow the seeds for project development. Here you need to do extensive research about the latest market trends, tools & technologies for app development, competitors, and the preferences of the target audience.
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2. Right Vendor for Outsourcing
The next important and more complex thing is to find the right vendor to whom you will outsource your project. The smarter way is to visit the homepage and find out what the reviews are posted by their clients, reviews posted on the third-party sites, and portfolio. The last step is to take interview the developers you want to involve in your project.
3. Payment Schedule
Once you finalize the developers, the next step is finding out which payment model they work with. The best option is to go with a flexible payment schedule for app development.
4. MVP
The intelligent idea is to develop and launch the MVP model. It will be a basic version of the app, but it has several advantages. One of the best advantages is that it gives ample opportunities to find out the real potential of the app. It will help you to get real-time feedback from the users.
Wrapping it Up!
Most of the app ideas do not occur due to the appropriate funds. Majorly startups face this issue more. So, the best way to develop a project is a flexible payment schedule. Businesses or individuals who want to earn from the mobile app can easily move forward with this idea. Here they will have the freedom to pay for the app development in installments. It can relieve them from the burden of arranging the funds for app development.
Time & cost to develop a mobile app is two important factors. The time can be managed but managing the cost is sometimes a bottleneck issue that can be solved via periodic payments. Based on the agreement, the app owners have to pay the amount at a specific time or complete a milestone decision in the meeting. It is the best way to develop the project with the appropriate flow.
