Building an App Company

[MamaD]

The car spotting app looks like it could have viral appeal. Just found it in the app store.

Looking forward to your next update.

 

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[silentownage001]

Oddball, any updates?

Also, I sent you a pm.

 

[oddball]

UPDATE, just copying posts from another forum I posted on.

So many of you know I have a couple apps, well, they haven't been going as I planned but I am not giving up on the app business. I still see it as a very profitable business. So I changed my strategy a bit. I like real estate investing and have been learning a lot about it and watching investors acquire new properties I figured I would do the same for apps. The hard part is there are really no valuation methods or anything on apps, its such a new market in comparison to other investments like stocks and RE. So I am kind of making it up as I go. In the past couple months I have bought a few apps, spending more than I probably should have, this is going to be a real tight month until I get things in line.

So I bought a few new apps
Whats this Icons name free & paid - $3,000
Name that icon and logo free & paid - $2,000
Neon Star Dash - $2,000


app_biz

So downloads so far are looking good so far, all the apps are fully transferred and todays data for yesterday was the first whole day I have had them all. So you can see how downloads are doing.


app_biz2

In app purchases have been doing quite well, there are good days and bad days, it looks like Mondays are not the best days. I've been making anywhere from $0 a day to just over $21 from IAP's. I'd like to get this to average around $25-30 a day.


app_biz3

Now ads are the missing link, they should account for about $500+ a month in revenue, I'd like to think this is a conservative number and it could be closer to $1000/month. I'm in the works of having all the ad networks switched over and then the transfers will be 100% complete to me. Goal is to have them all done and right by October 15th, sooner would be better.

After that is complete, I want to change a few things within the apps, I will probably link the apps to each other and hopefully spark some more downloads that way. I will add more as I move forward.

My portfolio:
Neon Star Dash
What's this Icon's name Free
What's this Icon's name
Guess the Icons and Logos Free
Bully Revenge
CarSpy - Mobile Car Spotting
CarSpy - Mobile Car Spotting Lite

 

[oddball]

UPDATE

Forgot to mention, app rating is also important. Helps with keeping downloads and not being an app with initial marketing for downloads on a bad app.
I don't have information on one of the apps because I bought it directly from the seller after already buying the other app off him, helped me get a lower price as we basically split the Apptopia fee, price closer to what I wanted.


neonstar


logogame

I valued the apps much lower than the figures support, so if I get the numbers that they show, I'm going to make some really good money on these. I'm hoping for a break even point at about 7 months.

And disclaimer, I am no expert so don't take everything I say exactly as I say. This is me trying it out and using what I know to hopefully make the right decision.


UPDATE

So downloads have been decent, they fell a bit during the week but the weekend was good as always.



IAP's did awesome this weekend, $100 between Saturday and Sunday. Here are Sunday's numbers...



Ads are still in the works. The one app is consistently getting ~ $3.50 a day which isn't where I want it to be, still want it to be around $6.
Other app had the ads finished and are waiting for Apple review. I'm hoping that one produces $12+ a day, hoping, lol. I also need to sit down and optimize the IAP's of that app (Neon Star Dash). Tons of downloads but very rarely getting IAP's. So if I can get more conversions that one has a lot of potential. I honestly think I can get that app to $1000 a month alone.
Then the other app they had an issue displaying some of the ads so hopefully they get it fixed in the next day or 2. That one won't be a huge producer but I am hoping $75+ a month + IAP.

Also been working on adding a casino app to my portfolio. Not going to be easy but I want to do it, watching Runner Runner this weekend made me want one even more! haha

 

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[oddball]

UPDATE

Current apps are doing well with IAP.
Yesterday: $18.23
10/22: $17.49
10/21: $36.13

So on top of the $270.57, I am up to $342.42 for the month. I bumped my goal up, I want another $108 by the end of the month.

Ads since adding Neon Star Dash haven't been great, yesterday was better though.
Yesterday: $14.55
10/22: $10.04
10/21: $11.17
10/20: $9.17
10/19: $9.49
10/18: $10.68

It's all adding up though, Apple finally put my other app in the "In review" stage so that should create another couple bucks a day in ads I hope. Read an article the other day about a 21 year old who has a portfolio of like 100 apps and he cleared $500k last year. I think that was him and his partner, either way, impressive. I looked through his apps and a lot of them are just reskins. Definitely motivation to keep going and not give up.

UPDATE

Well, I just did some number crunching, so far, in October I have done pretty well. Ad revenue for October was $176.64 and IAP's has been $371.28 and paid downloads about $35 (didn't do currency conversions so rounded the number down a few dollars). So total so far is $582.92, not bad.

Keep in mind a couple things, ads on any app didn't start until October 4th. Ads on Neon Star Dash which is easily my biggest money maker didn't start until October 18th. The last app didn't start until like the 24th I think. Also, this doesn't account for CarSpy ads and Bully Revenge ads, although they barely produce anything as it is. We still have 3.5 days left in October as well. I expect another $35-$45 in ads and maybe $10-$30+ in IAP's in the last few days.

Oh, and I bought source code for 10 apps today. They are good games and I got a good deal, $300. There are a few I'd like to do first, not all 10 though. I'd like to say I would have 1 or 2 out for xmas but that isn't going to happen. Maybe I can have one done for January.

UPDATE

That is what I like about apps, can be great passive income. I have done zero marketing so far and I still have to optimize the apps keywords/titles/descriptions. So After all is said and done, I realistically think these apps will make $1250-$1500 a month (not counting when I make some of the ones I bought today).

I'm hoping to keep this developer who is doing the reskin now, I am happy so far, and see if he will do a 3 app reskin bundle discount. Do one a month, maybe I can squeeze him to do 2 by the end of December. If they can produce another $200-$250 a month each, that would be awesome.

 

[oddball]

I just copied the big updates, if you have specific questions, please ask.
I still have a lot to work to do, this is a growing thing but they are doing better and better.

 

[Gale4rc]

Really good progress... I would have a suggestion at this point since you have enough apps lined up to move forward with... Stop buying apps and hire someone to help you market/grow them. Personally I would look for a co-founder so hes as vested in the business as you.

Anyway, really great job. Sounds like you're definitely on your way to the top

 

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[oddball]

Really good progress... I would have a suggestion at this point since you have enough apps lined up to move forward with... Stop buying apps and hire someone to help you market/grow them. Personally I would look for a co-founder so hes as vested in the business as you.

Anyway, really great job. Sounds like you're definitely on your way to the top

Would never partner on this. I left out some of the updates since my other thread has a lot of posts. I am working on fixing the keywords and descriptions because they are pretty bad right now. Kind of like SEO but a little different. I also plan to do some ads to see if those work.

 

[pcharles]

oddball,

I created a few apps that got Apple-smacked in the review process. I learned through that process (mainly from partners doing the same) that the NEW apps are risky business. The best model is to find apps/categories that are already 'working' then replicate it. Not copying, just putting your own spin on it. This way, you know you'll get downloads. Not a flash in the pan kind of deal.

So real estate may be what you're interested in but try to align with existing real estate apps that are consistently getting downloads instead of trying to recreate the wheel.

 

[oddball]

I've build and bought apps, my developer is good with knowing what will or won't get passed. There was one they did not think would get approved so we didn't do it. Most of my apps are similar to others, never had any issues getting reviewed. I stick to games for the most part, IAP's are easiest imo in games and they are the best way to monetize.

 

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[bombaytea]

I'd say you are off to a great start.......
Just curious; did you already know your developer or did you
outsource on Odesk / Elance to find that person?

Would you happen to have a link to the 21 yr old
that is doing great with his 100 apps?

Thanks for your updates.....makes me want to start
my app business also

 

[oddball]

I outsourced on elance. I've mostly used the same developer for all projects but on my last reskin I am trying a new person. Also, sometimes I outsource for small things to independent freelancers because they are cheaper on small jobs.

My computer is really slow but it is on secret entourage, one of the newer interviews.

 

[MattCour]

I missed this thread, nice job so far man! Ads are a tough thing in my experience.. They generate the most rev for me but also lower the UX dramatically. It's really a hard trade off! It seems the people who have the most success with small games pump them out like a factory. www.thechocolatelabapps.com is another amazing resource for small games and app Dev in general.. Elaine has made around 200 small games so far, so she knows a few things =) She also has a few courses on Udemy which are excellent. Basically video walk-throughs of how to integrate ads into your games as well as upload to Itunes Connect..

 

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[oddball]

Thats awesome, I will check it out, thanks.
I try and keep the ads in key spots, I don't want them to bombard the user, but I want them to work. So far I think I found a sweet spot. One of my apps generates a lot from ads, but not much from IAP but I see a few issues that I am working on fixing. If I do this, I will make out great with this app. I'm already looking at paying it off in around 7 months from ads alone. Target is to get the updates out early December to capitalize on xmas sales.

 

[bombaytea]

Hi Oddball........thanks for the info....You too, Matt.
Oddball,......I see you are in Albany.....I used to live in Watervliet.

 

[oddball]

Small world, I'm actually moving to Texas in a couple months. Sick of NY.

 

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[bombaytea]

I know what you mean....high taxes everywhere.
I'm sure you will love TX.

Good luck.

 

[oddball]

I know what you mean....high taxes everywhere.
I'm sure you will love TX.

Good luck.

Hell yea, I went down this past week to try and find an apartment and such, loved it. Only thing is everyone says the heat gets bad but its trading cold for hot.

 

[oddball]

Quick update on numbers, a member PM'd me and I realized I haven't updated. I am still chugging along here.

Revmob numbers are about $8-15 a day. (Projecting a little over $300 for the month)
Chartboost can vary from $10-$35, averaging closer to $15-20. (Somewhere around $550-600)
IAP's and downloads really vary from $0-$30, seems to be around $10 lately. ($300ish)
Expecting around $1,200 this month total.

My first goal was small, $10/day. Next goal is $100 a day. I expect to hit it in the next 2-3 months.

 

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[oddball]

Looking for some help, if anyone with iphone's or ipods could drop a review for me newer apps that would be awesome. 3, 4, or 5 stars, just post what you rated and I'll leave some rep in return. Thanks

https://itunes.apple.com/US/app/id771457241?mt=8&ign-mpt=uo=4
https://itunes.apple.com/US/app/id779599956?mt=8&ign-mpt=uo=4

 

[SGBoise]

Just come across your progress. Looks like your heading in the right direction. Keep it up.

 

[oddball]

It has been tough but slowly figuring things out.

 

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[alexz]

$1000+ a month is not bad. You should have made all your money back by now. To maximize the profit, you may want to try multi platform approach. You build the game that runs on iOS and Android and other platform with little tweaking. You get the widest possible audience. I know someone also making good money buying the source codes, and reskin and tweak the game play a little bit to make it more polished. That is a workable strategy too.

I am glad you move to Texas. Austin is a great place to live, especially if you live near UT Austin. You can easily network with many talented developers there!

 

[oddball]

Final January numbers. Things seemed to slow down a bit towards the end of the month, you can see that in the download charts specifically. My two slot machine apps really slowed down. They still make money but the downloads are low. Problem with those apps is there aren't a lot of keywords to target downloads so there is a lot of competition for them. I'm going to make a couple changes and try some different keywords to see if that helps. Also going to try using Applovin for ads on a couple new apps.

Downloads: 33,360


IAP/Paid Revenue: $387.24


Admob: $18.16


Revmob: $343.73


Chartboost: $748.52



Total: $1,497.65
I think I had some good momentum from Xmas, still doing some more tweaking though.

If anyone has seen Flappy Birds, interesting to see that app hit top of the charts. Speculation whether or not bots were used but even so, the organic downloads its getting from being top of the charts is huge. If he was running full screen ads I bet he would make 4 figures a day, easy. That app will die off quick but even so, makes a good junk up from and it will continue to make money day after day, just not as much. Such a simple app too.

 

[PopEmersen]

He stated he did no marketing for his app, is that true? Was is just pure luck? I find that hard to fathom BUT after releasing our iphone app, I could see that.

 

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[MattCour]

Final January numbers. Things seemed to slow down a bit towards the end of the month, you can see that in the download charts specifically. My two slot machine apps really slowed down. They still make money but the downloads are low. Problem with those apps is there aren't a lot of keywords to target downloads so there is a lot of competition for them. I'm going to make a couple changes and try some different keywords to see if that helps. Also going to try using Applovin for ads on a couple new apps.

Downloads: 33,360



IAP/Paid Revenue: $387.24


Admob: $18.16


Revmob: $343.73


Chartboost: $748.52



Total: $1,497.65
I think I had some good momentum from Xmas, still doing some more tweaking though.

If anyone has seen Flappy Birds, interesting to see that app hit top of the charts. Speculation whether or not bots were used but even so, the organic downloads its getting from being top of the charts is huge. If he was running full screen ads I bet he would make 4 figures a day, easy. That app will die off quick but even so, makes a good junk up from and it will continue to make money day after day, just not as much. Such a simple app too.

Great job bro!!! Talk about passive income right??! Flappy Birds is everywhere right now, that game is hard as hell!! I've read a few articles that claim he's making $50,000 per day right now. He's been featured in Techcrunch and VentureBeat several times the last few days. I have no clue how he got 3 games in the TOP 10 FREE.. Simply amazing!

 

[oddball]

He stated he did no marketing for his app, is that true? Was is just pure luck? I find that hard to fathom BUT after releasing our iphone app, I could see that.

People will argue he used bots and some say it just went viral. There are definitely some fishy things with the whole situation though.

Great job bro!!! Talk about passive income right??! Flappy Birds is everywhere right now, that game is hard as hell!! I've read a few articles that claim he's making $50,000 per day right now. He's been featured in Techcrunch and VentureBeat several times the last few days. I have no clue how he got 3 games in the TOP 10 FREE.. Simply amazing!

Obviously I don't know for certain but I can guarantee he isn't making even close to that. I'd put money it is 4 figures. His ad setup is horrible and he has no IAP's.

 

[oddball]

I just copied my update from another forum, didn't even pay attention to what it said but I am actually making a Flappy Bird clone. I wasn't planning to because it is just a fad that will phase out but it is one of the cheapest apps I've done and it still fits a theme I would have done anyways. So, I will lose nothing by doing but potentially gain a lot of downloads if I can catch the fad before it ends.

 

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[MattCour]

People will argue he used bots and some say it just went viral. There are definitely some fishy things with the whole situation though.



Obviously I don't know for certain but I can guarantee he isn't making even close to that. I'd put money it is 4 figures. His ad setup is horrible and he has no IAP's.

LA Times article..

http://www.latimes.com/business/tec...-daily-20140206,0,4148069.story#axzz2sZyw4iCr

The dev says that he's making $50,000 per day and has hit 50 mil DLs already.. mind boggling!

 

[oddball]

Great job bro!!! Talk about passive income right??! Flappy Birds is everywhere right now, that game is hard as hell!! I've read a few articles that claim he's making $50,000 per day right now. He's been featured in Techcrunch and VentureBeat several times the last few days. I have no clue how he got 3 games in the TOP 10 FREE.. Simply amazing!

Yea, looking up numbers this makes no sense. Articles from yesterday say 50 million total downloads, the CPM would have to be so high for him to get $50k per day. From my experience, a game like this would look at a $1-2 CPM with proper setup and his setup is horrible. Maybe if he had the ads setup differently but I just don't see it.

I have no idea if this is true but here's the article.. http://www.latimes.com/business/tec...-daily-20140206,0,4148069.story#axzz2sZyw4iCr

The dev says that how much he's making per day..

Just saw this after I posted. Also, the dev has wanted to hide from all the attention and refused many interviews, seems fishy that now he opens up and tells what he is making.