iPhone App Dilemma

[hlopez22]

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.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[andviv]

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.

 

[hlopez22]

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?

 

[andviv]

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?

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[PopEmersen]

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.

 

[clee4]

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.

 

[Tony71]

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.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[andviv]

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.

 

[PopEmersen]

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.

 

[Tony71]

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.

Thanks for sharing Tony. Is he local?

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

Thanks again.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[clee4]

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.

 

[oddball]

Check out my thread, I talked about this a bit. https://www.thefastlaneforum.com/yo...an/38879-building-app-company.html#post207762

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.