Quantcast
fastlane insider
Results 1 to 12 of 12

Thread: iPhone App Dilemma

  1. #1
    hlopez22 is offline
    Fastlane Rookie
    Reputation Speed
    5 kph

    Joined
    Jan 2012
    Age
    23
    Posts
    59

    Default iPhone App Dilemma

    Have an idea for an application and I have recently been quoted by a company that creates great apps but their quote was $30,000 and I don't have that kind of money. I also have a developer who will do it for $2,500 and 40% - 50% equity but doesn't have the resources the company has nor the portfolio. What should I do? I believe this application has great potential because there is nothing out there that does this.

  2. #2
    andviv is offline
    Moderator
    Reputation Speed
    300 kph

    Joined
    Jul 2007
    Locale
    Northern Virginia
    Posts
    5,386

    andviv's Avatar

    Default

    if $2,500 is 60% of the deal, tell him you will pay him $4,000 to complete the app, no equity.

    Or, you will pay him $2,500 and 10% equity....

    Negotiate a little bit and see what he's willing to do.

    There is a thread out there from people asking for apps quotes from elance, Odesk and other sites... check it out.
    Palmera Tech -- Web Development Done Right!

    Boring and steady makes you money. Do not get distracted by shiny objects.

  3. #3
    hlopez22 is offline
    Fastlane Rookie
    Reputation Speed
    5 kph

    Joined
    Jan 2012
    Age
    23
    Posts
    59

    Default

    Yeah originally the offer was for $4,000 and no equity we also talked about equity and he said he would take 40% for $2,500. I could see the equity as being a good thing since he is the developer who has a small team I could see him pushing himself to get the job done even more because he has an interest in the application. So you think paying $4,000 is better than involving him and making him feel more responsible for the app?

  4. #4
    andviv is offline
    Moderator
    Reputation Speed
    300 kph

    Joined
    Jul 2007
    Locale
    Northern Virginia
    Posts
    5,386

    andviv's Avatar

    Default

    If you think it will be a success, pay him and own the whole thing...

    If you are not sure then his time and effort in exchange for equity are a decent hedge.

    But then again, if you are not willing to go all in, why bother in the first place?
    Palmera Tech -- Web Development Done Right!

    Boring and steady makes you money. Do not get distracted by shiny objects.

  5. #5
    wado1 is offline
    Fastlane Driver
    Reputation Speed
    95 kph

    Joined
    May 2011
    Locale
    Atlanta, GA, US
    Posts
    393

    wado1's Avatar

    Default

    Also, put your idea on odesk, freelancer, and elance. I put my idea on all three and I received alot of bids, 1 looks to be the guy im going with but I need to interview him via skype.

    Try it.

  6. #6
    clee4 is offline
    New Driver
    Reputation Speed
    20 kph

    Joined
    Jun 2009
    Locale
    NJ
    Age
    28
    Posts
    39

    Default

    i would also put this up job up on odesk, freelancer, elance, or guru and see the response. youll usually get quotes for the job within your budget and maybe a few outside your range, but itll be up to you discretion to figure out which programmer youll go with. keep in mind that Apple already takes out 30% of how much you sell it for from the start, splitting it three ways is a lot unless you estimate a few million downloads.

    as they say....hire slow, fire fast. take your time in finding the right person for the job.

  7. #7
    Tony71 is offline
    Fastlane Rookie
    Reputation Speed
    15 kph

    Joined
    Mar 2011
    Locale
    Irvine, CA
    Posts
    98

    Default

    I'm currently working with a developer for a iPhone App I came up with.

    I found him on odesk.com and I checked his past projects and he got good reviews.

    Let me know if interested.

  8. #8
    andviv is offline
    Moderator
    Reputation Speed
    300 kph

    Joined
    Jul 2007
    Locale
    Northern Virginia
    Posts
    5,386

    andviv's Avatar

    Default

    Quote Originally Posted by Tony71 View Post
    I found him on odesk.com and I checked his past projects and he got good reviews.
    Thanks for sharing Tony. Is he local?

    What rates are you getting? (by the hour or total cost for the project?)

    Thanks again.
    Palmera Tech -- Web Development Done Right!

    Boring and steady makes you money. Do not get distracted by shiny objects.

  9. #9
    wado1 is offline
    Fastlane Driver
    Reputation Speed
    95 kph

    Joined
    May 2011
    Locale
    Atlanta, GA, US
    Posts
    393

    wado1's Avatar

    Default

    Quote Originally Posted by Tarheelfan2009 View Post
    I actually had some luck with Guru.com by just using their search filter to only pull results within 100 miles of my home. I really wanted to get a programmer that I could guarantee good communication with because my app is time sensitive. So far, so good. Communication has been excellent and I have saved a lot of money by finding a young, start-up company wanting to gain more professional work experience. Chad Mureta's App Empire is a great read. Definitely recommend. Good luck with your app!
    In my android app thread, Tarheel said what's above. I took his advice and there is an app group in my city. I have a call with them later today, they look to be better than the offshore dev's I was looking at.

  10. #10
    Tony71 is offline
    Fastlane Rookie
    Reputation Speed
    15 kph

    Joined
    Mar 2011
    Locale
    Irvine, CA
    Posts
    98

    Default

    He is in China, I'am in DC..

    His rate is $33 an hour but you can also get fixed rate. It all depends on the project.



    Quote Originally Posted by andviv View Post
    Thanks for sharing Tony. Is he local?

    What rates are you getting? (by the hour or total cost for the project?)

    Thanks again.

  11. #11
    clee4 is offline
    New Driver
    Reputation Speed
    20 kph

    Joined
    Jun 2009
    Locale
    NJ
    Age
    28
    Posts
    39

    Default

    Quote Originally Posted by Tony71 View Post
    He is in China, I'am in DC..

    His rate is $33 an hour but you can also get fixed rate. It all depends on the project.
    Tony

    can you PM me information? thanks. always hard to find a developer. i like to keep a list of recommended ones. thanks.

  12. #12
    oddball is offline
    Fastlane Veteran
    Reputation Speed
    85 kph

    Joined
    Mar 2011
    Locale
    Albany, NY
    Age
    22
    Posts
    597
    Blog Entries
    9

    oddball's Avatar

    Default

    Check out my thread, I talked about this a bit. Building an App Company

    I had a budget of around $5k. My first quote was $21k and now I found someone to do it for not much more than my quote. Get a complete breakdown of what is costing you what. You may find features you can leave out now and add to updates later. I save several thousand doing this. Also, outsource some of it more. I did that with the sound files and I am saving around $1100 right there. I wouldn't give up equity though, if you think you are going to be successful with it, keep it all. The difference between $4k and $2500 isn't much, but the different between making $40k and $25k is a lot.

  13. Speed Up Your Fastlane Process! MJ Recommends The Following Books...

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Similar Threads

  1. company name dilemma/help
    By GamerGripz in forum General Entrepreneurship and Startup
    Replies: 30
    Last Post: Feb 26th, 2012, 08:37 AM
  2. My Introduction and Dilemma
    By youngG in forum Introductions & Networking
    Replies: 6
    Last Post: Feb 7th, 2012, 10:19 AM
  3. AC unit dilemma
    By biophase in forum Real Estate Investing
    Replies: 10
    Last Post: Jun 3rd, 2009, 04:11 PM
  4. In a Dilemma and Need some Guidance...
    By WealthyMind in forum General Entrepreneurship and Startup
    Replies: 5
    Last Post: Apr 13th, 2009, 10:08 PM

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •