In the modern world, it’s hard to find someone without a smartphone or who has a smartphone but without any mobile applications installed.
As long as smartphones and tablets are increasing in numbers, the mobile app development industry will continue to grow, in terms of revenue and jobs.
Revenues from mobile applications are constantly growing. According to the reports, the iOS App Store has more than 2 million applications and the Google Play Store has more than 3 million and thousands of new applications go live every day.
If you would like to join this beneficial industry, and already have a great app idea, it’s time to take the next step towards your goals and bring into being a great app business plan.
But first, let’s clarify why you actually need a brilliant business plan for an app?
There are a huge number of mobile applications these days. And considering that in each application category there are hundreds of almost identical applications, you must attract users so they’ll use your application.
Recent reports show that creating a business plan will take you closer to your goals and success. Entrepreneurs with broad business plans are more likely to grow their company and increase their revenue than those who without a plan.
Planning is a best way to secure loans and investments.
In a startup journey, it’s difficult not to miss the essential things. Every day you, as a startup owner, will face new problems and challenges. But a set of summary points on your plan will act as a quick reminder of why you started it and where it should take you.
A business plan is a guide that turns your ideas into action and will be your roadmap on your business adventure.
Usually, there are two reasons why mobile app startups write a business plan:
- To attract funding
- To attract founders
The content of the business plan for a startup depends on the startup’s main goal.
To attract founders, it’s enough to create a business model canvas — a more flexible model of the traditional business plan that can easily adapt to iterations that are characteristic of technology startups.
We’ll consider the business plan as a tool that will help you get funding and monetize your mobile application ideas. We’ll also give advice on all possible aspects of a business plan for launching a mobile application.
The cost of writing a business plan will be related to the costs that are required to launch the project. In order to save money, you can use business plan templates.
Mobile App Business plan template outline
This mobile app business plan template includes the following sections:
- Executive summary
- Unique value proposition (UVP)
- Targets / Objectives
- Problem Analysis
- Company overview
- Company history
- Management Team
- Market Analysis
- Market forecasts
- SWOT analysis
- Marketing Strategy
- Target market
- Competitor analysis
- Create a landing page
- App rating
- Product growth
- Startup costs
- Revenue models
- Funding required
Your mission should be to create a reliable and stable mobile application for enterprises, individuals, and non-profit organizations. In this case, your application will be able to compete with others.