How much does an MVP cost in 2021?

How Much Does an MVP Cost? MIN COST МАX The minimum viable product is that version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort. ERIC RIES React quickly to unexpected changes based on user feedback Test ideas and user behavior MVP DEVELOPMENT GIVES AN OPPORTUNITY TO before creating a full version of an application How much does an MVP cost? MVP PRICING VARIES SIGNIFICANTLY DEPENDING ON scope of work (design, functionality, API development) web or mobile app first (or both) hourly rates 1 A freelancer or a company? FREELANCER COMPANY VS $100 $25 $10 $100 HOURLY $250 $45 RATE Asia North America North America Eastern Europe Using the average East European hourly rate The average estimates for MVP development would be $6,150 $17,000 - $30,000 Software developer MVP COST when using outsourcing MVP development services ESTIMATES $12,500 The total cost of a freelance team $45,000 - $65,000 $2,850 QA specialist if you prefer onshore/offshore outsourcing $3,500 UX designer 2 How does project scope affect the MVP price? Take online food delivery services as an example and consider the high-level requirements of a food delivery app. iOS/Android application and Website Admin panel Registration/Login Order confirmation Login User profile • Payment processing Order management Menu Contact the manager User management • Item pages Deals Push notifications Cart Social media sharing Dashboard with statistics Push notifications New order notifications This functionality requires the following scope of work: Analysis (wireframes + SRS) 80 h .... .. Project Management 98 h 190 h Design (web and mobile apps) TOTAL SCOPE Testing, Stabilizing 390 h 1,408 h 200 h iOS app development Web app + Admin panel + API development 250 h 200 h Android app development Please note hours might fluctuate based on exact requirements. Be prepared for flexible pricing. 3 Web or mobile? It depends on two things: budget range and desired feature list. REASONS IN FAVOR OF WEB DEVELOPMENT REASONS IN FAVOR OF MOBILE APPS 1 MVP price is lower when you launch a website. Mobile MVPS are faster. 2 Web opens on both iOS and Android devices. 2 They have an offline mode. 3 Most traffic comes from the Web. 3 Mobile apps consume resources more efficiently. 4 Do you need a promotional website? Yes. Announce your presence, invest money in marketing to let people know about your product. They will not open your app if there is no info about you on the Web Examples of possible MVP app costs What if popular services launched an MVP in 2021 using outsourcing software development? DuoLingo Snapchat A popular elearning solution focused only on two languages with a large feature list and a variety of exercises. This messenger allowed users to send pictures and videos using funny AR filters. Content disappears after five seconds. User profile Graded courses Progress Image taking Photo editor Filters Notifications Gamification Leaderboard Messaging Self-delete Price: $22,500 - $36,000 Scope: = 900 h Price: $30,000 - $48,000 Scope: = 1200 h Amazon Spotify a The tech giant was once an online bookstore that offered its customers a vast catalog and fast delivery. The app started from the idea of letting its users listen to music via online streaming. Users benefited from a vast library-legally. Catalog Commentaries Payments Audio player Search Categories Search History Administration system Catalogs Track queues Offline mode Price: $40,000 – $64,000 Scope: = 1600 h Price: $47,500 - $76,000 Scope: = 1900 h Top five tips to cut MVP price and timeline Choose an 02 Launch using third-party modules Keep number of users in experienced outsourcing development Chose basic 01 design 03 functionality Focus on core 04 05 mind team What steps does MVP development include? Agile is important. Startups see the results soon and can make changes, if needed. Development Agile Testing Design iteration Post-launch Discovery Mapping Launch guarantee period www.itechcraft.com IT Craft [email protected] The next success story will be yours. ↑ ↑