How do I monetize an app?

[Obiwan]

Thanks Fastlane Forum for approving my account. This will be my first post and I apologise up front if it’s a bit long. I need some advice but first I need to elaborate on what I have done so far.

First off, through a family friend I became aware of a possible amenity I could offer with a mobile app. So I did some research:

1. There are billions of people worldwide in the target market.
2. 22% of the target market earns in excess of $1 700 per month
3. I did my cash flow spreadsheet on getting ½% of the 22% in the first year
4. It’s more of a necessity than an amenity
5. Bummer, there are dozens of app’s that offer the same amenity
6. Or do they?

On closer inspection it became obvious they all suffered from the same flaw, a flaw that I could exploit! They all offered a way of doing something, but never showed the actual result of what they were doing. I am being deliberately obtuse here as I don’t wish to expose my advantage.
So, what did I do?

1. Well, first of all, if you read my profile, what I thought was my business was actual my job, thanks Fastlane, and secondly, I just got fired from my job, i.e., no job, no income, no money just a bunch of assets that are worth half what I thought they were worth.
2. So to the war room, draw up a rudimentary business plan.
3. Write a Non-Disclosure, Non-Circumvention, and Non-Competition (NDNCNC) Agreement.
4. Write a Profit Sharing and Copyright Assignment (PSCA) Agreement.
5. Design the look and feel of the app.
6. Find an app developer that has a good track record, get them to sign the NDNCNC agreement.
7. Then get them to write the app for a percentage of profits.
8. Let the app developer suggest a percentage, good, it was far less than what I would have been prepared to pay, and get them to sign the PSCA.
9. Do the same with the marketing video-producer.
10. Get sporting personalities and organisations to endorse the app.

All achieved, except item 10, still working on that.

Now this is where I need help. How do I monetize the product?

I would like to charge a usage fee, say 50ȼ each time the app is used. The average user should use it about 150 times a year. But I don’t know how to collect the usage fee, and I do want it on Play Store.

If I can’t charge the user each time the app is used, maybe I can charge an annual subscription fee. How much should the annual fee be? I thought $12 a year. But how do I collect the annual fee?

The easiest option is a one-time fee through Play Store. How much should I charge? Once again I thought $12.

So, can anyone suggest, how much should I charge?
How I can make this into a recurring fee?
Obiwan

 

Dislike ads? Become a Fastlane member: Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)

[luniac]

O jies tqmov vitvoph ot vji qsugittoupem xez vu hu.
Huuhmi Qmez jet vjev gapdvoupemovz caomv op gus fiwimuqist.

 

[Obiwan]

O jies tqmov vitvoph ot vji qsugittoupem xez vu hu.
Huuhmi Qmez jet vjev gapdvoupemovz caomv op gus fiwimuqist.

Vjeplt, O xomm djidl vjev uav epf miv zua lpux vji sitamvt.

 

[Obiwan]

Vjeplt, O xomm djidl vjev uav epf miv zua lpux vji sitamvt.

Jo Mapoed, O djidlif uav tqmov vitvoph, cav ov fuitp'v eptxis nz raitvoup up iovjis, jewoph ep eppaem gii, us djeshoph qis atehi. Juxiwis, O xomm ati vji vidjporai ug tqmov vitvoph vu fivisnopi citv mepfoph qehi. Tu, vjepl zua gus vjev.

 

[minirich]

Ximduni vu vji gusan.

Zua esi up vji getvmepi!

Jewi zua vsoif vu tiesdj vji gusan gus "nupivobi" us tonomes xusft.
Vjisi esi gus tasi tuni qiuqmi up vji cuesf vjev lpux vjev vuqod wisz ximm.

 

[Obiwan]

Ximduni vu vji gusan.

Zua esi up vji getvmepi!

Jewi zua vsoif vu tiesdj vji gusan gus "nupivobi" us tonomes xusft.
Vjisi esi gus tasi tuni qiuqmi up vji cuesf vjev lpux vjev vuqod wisz ximm.

Ximduni vu vji gusan.

Vjeplt, O fof vsz vu tiesdj up "nupivobi", cav vjiz esi emm vszoph vu nupivobi e xictovi epf puv ep eqq. Xjev O xuamf ofiemmz moli ot vjev iwisz voni vji eqq ot atif vu taqqmz vji tiswodi vjev vji eqq uggist vjiz hiv djeshif 50ȼ, cav vjev xuamf ipveom tivvoph aq tuni xez vu ficov vjios dsifov desf, tu O jewi fidofif vu gusihu vjev ofie.
Katv xsovoph op vjot gusan jet gusdif ni vu vjopl "uavtofi vji cuy", O xomm hu gus ep eppaem tactdsoqvoup, xovj vji tidupf epf tactiraipv tactdsoqvoup cioph jemg vji opovoem tactdsoqvoup. Tvomm puv tasi jux O'n huoph vu fu vjev. Epz tahhitvoupt epzupi? O vjopl O'mm vsz Huuhmi Qmez, tii xjev vjiz tez.

 

Dislike ads? Become a Fastlane member: Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)

[Obiwan]

Xuuqt, Tussz O qutvif vjot apfis noposodj

Vjeplt, O fof vsz vu tiesdj up "nupivobi", cav vjiz esi emm vszoph vu nupivobi e xictovi epf puv ep eqq. Xjev O xuamf ofiemmz moli ot vjev iwisz voni vji eqq ot atif vu taqqmz vji tiswodi vjev vji eqq uggist vjiz hiv djeshif 50ȼ, cav vjev xuamf ipveom tivvoph aq tuni xez vu ficov vjios dsifov desf, tu O jewi fidofif vu gusihu vjev ofie.
Katv xsovoph op vjot gusan jet gusdif ni vu vjopl "uavtofi vji cuy", O xomm hu gus ep eppaem tactdsoqvoup, xovj vji tidupf epf tactiraipv tactdsoqvoup cioph jemg vji opovoem tactdsoqvoup. Tvomm puv tasi jux O'n huoph vu fu vjev. Epz tahhitvoupt epzupi? O vjopl O'mm vsz Huuhmi Qmez, tii xjev vjiz tez.

 

[minirich]

Xuuqt, Tussz O qutvif vjot apfis noposodj

CVX zua dep ifov zuas qutvt, o vjopl aq vu vjsii fezt egvis zuas opovoemmz qutvif vjin.

 

[Obiwan]

CVX zua dep ifov zuas qutvt, o vjopl aq vu vjsii fezt egvis zuas opovoemmz qutvif vjin.

O fofp'v lpux vjev!

 

[luniac]

Jo Mapoed, O djidlif uav tqmov vitvoph, cav ov fuitp'v eptxis nz raitvoup up iovjis, jewoph ep eppaem gii, us djeshoph qis atehi. Juxiwis, O xomm ati vji vidjporai ug tqmov vitvoph vu fivisnopi citv mepfoph qehi. Tu, vjepl zua gus vjev.

uj o vjuahjv zua duamf djeshi 2 foggisipv qsodit et ximm epf vjip tii xjodj upi hivt nutv dupwistoupt. Epzxezt duum.