mobile apps for business planning

How to Write a Mobile App Business Plan + Free Template

Anthony St. Clair

11 min. read

Updated February 7, 2024

Free Download:  Sample Mobile App Development Business Plan Template

When Apple released the first iPhone in 2008, it also launched its App Store—with about 500 apps. Nowadays, the number of apps on the Apple App Store and the Google Play Store totals about 5 million. If apps were people, they’d outnumber the population of Los Angeles.

Sure, the “gold rush” days of app development are long behind us, but building apps remains a solid way to bring useful or entertaining services to market. An app can also be part of a narrow or broader business strategy.

But with so much competition, building a profitable, successful app takes more than just an idea and a team of mobile app developers. You need a business plan to help guide your vision and implementation. This article will cover the steps to create your mobile app business plan, along with some tips to run it successfully. 

Need more guidance? Download our free mobile app development business plan for a full business plan outline that you can use to inspire your own plan.

• How to write a business plan for a mobile app

A business plan can be as short or extensive as you need it to be, and not a page more. In fact, you could launch a successful business based on even a one-page plan for your app development firm.

Writing a business plan for your mobile app business comes down to thinking through where you are with your app idea, what you want to accomplish, and how you think you will get there. A good business plan gives you both a starting point and a road map, but you can always review it and update it as you go.

At its heart, that’s all your app business plan needs to do.

Here are some of the key things your mobile app development business plan should include.

1. Determine what kind of app you will develop

Competition and opportunity co-exist throughout every app sector. If you’re still trying to decide where you might want to target your app development , strong contenders and trending app verticals include:

• Productivity
• Shopping (mobile-specific and general eCommerce)
• Health and Fitness
• Personalization

The sector you’re developing your app for influences the type of app you’ll want to build. For example, will you code for Apple iOS, Google Android, or both? Will you focus on a web or hybrid app? Is the app an extension of a website or other business channel? 

You’ll need to have this information defined up front in order to conduct proper research and easily write your business plan . 

2. Conduct market research and identify competitors

It’s one thing to have a good idea for an app. But the real question is, does the idea have a market that will be hungry to buy in?

As you develop your business plan, understanding your potential customer base is key.

For starters, evaluate similar apps and competitors in the vertical you are developing for—especially if there is already an app doing something that you want your app to do. As you conduct research and put together a market and competitive analysis, be sure to think through the following questions:

• Who are their customers?
• Are they the same ideal customer and target market ? 
• What steps will your company take to engage the market and involve them in testing and promotion? 
• What are the demographics (such as profession, age, or sex) and psychographics (such as opinions, hobbies, and lifestyle goals) of your target market? 

If you don’t understand the market for your app, it will be difficult to get them to find, install, use, and tell the world about your app.

Researching the market and your competitors can also clue you into expected app features, pricing and revenue models, gaps in services, and pain points that customers feel aren’t being met.

Understanding these factors can also help your business plan address a potential threat to your app’s viability: abandonment. User retention can be challenging throughout the app market, with 25% of customers using an app one time and then ditching it. So, be sure that you take into account how to attract new customers as well as how you’ll keep them around.

3. Positioning and promotional strategies

Once you’ve proven the market demand for your app’s concept, you should start figuring out how to promote your app and position it in the marketplace. Your business plan doesn’t have to include a detailed marketing plan . But it can be the perfect place to set up a few essentials that can guide your app’s marketing throughout its development and release cycles.

At a minimum your plan should include foundational messaging for pitching, branding, mission, and your overall sales and marketing strategy for your app, such as:

Develop and refine your elevator pitch

How concisely can you get across what your app does, why it’s needed, and what will make people love it? Can you talk up those key points with anyone from potential investors to your ideal customer, developers, and engineers to your mom and your best friend?

Examine how you’ll build awareness, interest, and need for the app

Will early testers be part of your outreach? Will you work with social media influencers, traditional media, or celebrity endorsers? How will you articulate the problems your app solves or the joy it provides?

What are some of the branding and marketing tasks your startup will pursue? 

For example, what is the company name? The app name? How will you engage your market on the social media platforms they like to spend time on? What original supporting content will attract the interest of your key audience?

In your business plan, it’s essential to understand your startup from the point of view of a founder and key player. But the marketing and promotional components of your business plan help you see your app from the point of view of an outsider, such as a customer or investor. The better you understand these other points of view, the better you can develop your messaging, build your app, and make it a success.

Free Mobile App Business Plan Template

Use this proven business plan example to successfully launch a competitive mobile app development business.

Download Now

4. Startup costs, financials, and pricing

Figuring out the potential startup costs for your app is not a one-size-fits-all equation. Generally, these are some of the factors to consider as part of your financial plan .

Platform development

Expect different development costs when developing for iOS, Android, or both. Your process will include defining a function, outlining what you need for your MVP, wire-framing, coding, testing, designing, and more.

Internal employees or outside contractors? 

If you’re planning to build up a full-on firm with employees, benefits, and offices, you will be looking at a different cost structure than if you want to outsource to a contracted development company or work with a freelance team that’s not employed by your app startup. That team may need pros in charge of mobile and backend development, design, QA, customer support, design, marketing, managers, and more.

The resources you have and the resources you need

How long it’ll take to develop and release your app depends in part on the resources you have access to.

Successful apps monitor and improve. Did the app crash? Is it scaling sufficiently to handle increases in use and load? What usage metrics are you monitoring and analyzing? How will you need to update the app to deal with OS updates?

By understanding these and other potential costs, you can develop a budget in your business plan. For more in-depth financial considerations, you should develop forecasts to gauge costs, future cash flow , and how your app company might grow and change over time by hitting release and growth milestones.

5. Development milestones

The release of your app is a milestone that’s farther down the road. In the meantime, you’ll be developing milestones that reflect major accomplishments in the development process. Your business plan can reflect some of those milestones, such as:

• Production of key features and functions
• MVP completion
• Testing and refinement
• Acceptance of app in app stores
• Achievement of sales and adoption goals
• Implementation of new features and versions

Remember, app development takes time. Focus your initial milestones on pre-release goals. From there, you can set and work toward post-release milestones that can pave the way to future growth, releases, and profits.

• Mobile app development tips for startup growth

As you develop your mobile app’s business plan, here are a few other tips and considerations to keep in mind.

Native, hybrid, or web?

Creating apps tailored to each OS—Apple and Android—can cost the most to develop, but also can maximize your app’s performance. The better the performance, the most adoption and use you could see in your target audience. 

At the same time, other apps work solely on the web, and others are developed as hybrids. Hybrid apps can help you manage team and development costs, but they typically can’t take full advantage of each OS.

As a rule of thumb, typically the more complicated or intense the app’s function, the better it tends to be to develop a native app. Lightweight functions may work fine in a web or hybrid environment.

Security and privacy

Privacy and security are at the forefront of customers’ minds as well as industry discussions around app business models. If you are developing for regulated industries—such as health care or financial services—there may also be legal privacy and security requirement to adhere to.

Decide on a platform: Apple, Android, or both?

If your target market is predominantly on one OS, that can guide your development decisions. Developing for both platforms requires more resources, but can give you the benefit of maximizing your ability to develop the app for each OS, and reach the most customers. Another option to consider is launching on one platform and adding another over time, depending on milestones in your business plan.

Offline vs online

A growing consideration in today’s app development firms is whether the apps can only function online, or if it can function offline too. Some level of offline function—and messaging that the app is offline—can make for better customer satisfaction, since users will have access to at least some features regardless of their internet connection.

For example, Google Maps can download route information so a user still has the mapping and some functions, even if they enter a remote location or go through an area where they don’t have a cellular or wifi signal. 

Walking users through what they can and can’t do offline, and how functions can be completed or data can sync once online again—can also go a long way to winning trust and loyalty from your app’s users. You’ll also want to determine if the offline function is something you develop as part of the launch, or if you roll it out in a later version.

Revenue model: Free/freemium, subscription, in-app purchases, ads, or a combo?

Apps can drive revenue in many ways. A common strategy is a freemium model: Offer a free baseline app, but other features can be unlocked with purchase or subscription.

Subscription models (usually with a tie-based free trial period) have also become increasingly popular in companies, and they are finding broad acceptance in the market. An app can also drive revenue by being a mobile commerce tool, helping customers complete a transaction from the convenience of their phone instead of having to go to a browser, non-mobile device, or other fulfillment channels.

Some apps are only available for purchase, often as a way to showcase an app’s superior or unique place in the market. Once purchased, though, other revenue models can come into play. The popular game Minecraft is a prime example: Customers purchase the app, but the Minecraft Marketplace offers in-app purchases to further customize the game.

Test properly before launch

If your app doesn’t work at launch, it may never recover from that stumble.

As the app reaches development milestones, ongoing testing can help you find and resolve problems before you have to deal with them in the deployed product. Conducting extensive testing across various devices, users, and OS versions can help you catch problems before they harm your new app—and your startup’s viability and profitability.

• Download your free mobile app development business plan template

Our free mobile app development business plan can give you the template you need to start setting up your business plan—and your business. It’s just one of hundreds of free sample plans that have been time-tested by our team and by thousands of entrepreneurs all over the world.

The question is simple: What mobile app development business will you create? Whatever it is, your business plan can help you get there. Download your free plan now and get started.

See why 1.2 million entrepreneurs have written their business plans with LivePlan

Anthony St. Clair is a business copywriter, author of the Rucksack Universe travel fantasy series, and a craft beer writer specializing in Oregon. Learn more at anthonystclair.com.

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Mobile App Business Plan Template

Written by Dave Lavinsky

Business Plan Outline

• Mobile App Business Plan Home
• 1. Executive Summary
• 2. Company Overview
• 3. Industry Analysis
• 4. Customer Analysis
• 5. Competitive Analysis
• 6. Marketing Plan
• 7. Operations Plan
• 8. Management Team
• 9. Financial Plan

Start Your Mobile App Plan Here

Mobile App Business Plan

You’ve come to the right place to create your mobile app business plan.

We have helped over 100,000 entrepreneurs and business owners create business plans and many have used them to start or grow their mobile app businesses.

Mobile App Business Plan Example

Below are links to each of the key elements of a mobile app business plan template:

• Executive Summary – In the Executive Summary, you will provide a general overview of your business plan including your target market, business model, and how you plan to make your business successful.
• Company Overview – The Company Overview section will provide an overview of your app idea, history of the company, monetization strategy and milestones achieved.
• Industry Analysis – From your market research, you will provide an industry analysis. This will include a discussion of the current mobile app industry landscape, trends, and issues facing your industry.
• Customer Analysis – The Customer Analysis section will describe your target market. This includes information on demographics, psychographics, and behaviors.
• Competitive Analysis – This section includes an overview of your direct and indirect competitors, their market share, your competitive advantage, and how you plan to compete against them.
• Marketing Plan – The Marketing Plan section will describe your marketing strategy. This includes information on your target audience, pricing strategy, and promotional activities.
• Operations Plan – The Operations Plan section of your mobile app business plan will describe your business operations.
• Management Team – The Management Team section will provide information on the management members of your team. This includes their experience, education, and skills.
• Financial Plan – In the Financial Plan section, you will provide the financial model and financial statements for your business. This includes your income statement, balance sheet, and cash flow statement.

Next Section: Executive Summary >

Mobile App Business Plan FAQs

What is a mobile app business plan.

A mobile app business plan is a plan to start and/or grow your mobile app business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can  easily complete your mobile app business plan using our Mobile App Business Plan Template here .

What Are the Main Types of Mobile App Companies?

There are many types of mobile app companies across a variety of categories. There are mobile app companies that focus solely on mobile games. Others are exercise or wellness focused. Some mobile apps provide guidance on specific topics, some offer music streaming, and other apps provide help or assistance on a variety of topics. Many companies have developed company-specific mobile apps to allow users to become more connected with their products or offerings. For instance, most major brands, restaurants and financial services companies have company-specific mobile applications.

What Are the Main Sources of Revenue and Expenses for a Mobile App Business?

The primary source of revenue for mobile app companies are subscription paid by the users on an annual or monthly basis. Advertising (selling ad space to other companies on their app) is another significant revenue sources.

The key expenses for mobile app companies are the costs to advertise and generate users. These expenses are often in the form of targeted social media advertising or online targeted marketing. Some major mobile app companies pay to have their mobile apps advertised on television commercials or music streaming platforms. Another major expense for app companies are office space, employee salaries and technology licensing fees.

How Do You Get Funding for Your Mobile App Business Plan?

A mobile app startup is most likely to receive funding from angel investors and friends and family. Personal savings and credit cards are also often used. Venture capitalists will fund a business plan for an app once it achieves enough traction (e.g., enough users or generating enough revenue).

A well crafted mobile app business plan is essential for attracting any type of potential investor.  Most app startups require funding to get off the ground and cover at least their startup costs.

What are the Steps To Start a Mobile App Business?

Starting a mobile app development company can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop A Mobile App Business Plan - The first step in starting a business is to create a detailed business plan for an app that outlines all aspects of the venture. This should include market research on the mobile app industry and potential market size, information on the mobile app concept, the services or products you will offer, pricing strategies and a detailed financial forecast.  

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your mobile app business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your mobile app business is in compliance with local laws.

3. Register Your Mobile App Business - Once you have chosen a legal structure, the next step is to register your mobile app business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws. 

4. Identify Financing Options - It’s likely that you’ll need some capital to start your mobile app business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms. 

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations. 

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events. 

7. Acquire Necessary Mobile App Equipment & Supplies - In order to start your mobile app business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your mobile app business.  A mobile app marketing plan includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising. 

Learn more about how to start a successful mobile app business:

• How to Start a Mobile App Business
• How to Start a Mobile App Development Business

Where Can I Get a Mobile App Business Plan PDF?

You can download our free mobile app business plan template PDF here . This is a sample mobile app business plan template you can use in PDF format.

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How to Start an App Business in (2024): Step-by-Step Guide

Free Mobile App Business Plan Template

Matthew Khalili

19 Min Read

Are you a startup enthusiast with a brilliant business idea? Or do you want to expand your current business by getting digital?

Well, whatever your motivation is, developing an app is a promising way to translate your business idea into a successful business.

An average American adult spends nearly 88% of their total phone time on mobile apps. This leaves ample space for mobile app businesses to flourish, grow and develop.

Now, don’t let your lack of technical expertise stop you from starting an app. It is possible to not only start an app business but turn it successful if you follow the proper way.

If you are wondering how to start an app business, this blog is a perfect guide.

So without any further ado, let’s get started.

How much money do you need to start a mobile app business?

The cost of starting a mobile app in the US varies between $38,725-$267,850 and more. However, the cost can extend up to $500,000 or more depending on the complexity and scope of your SaaS app.

These costs are highly influenced by factors such as development costs, the complexity of the app, location, and much more.

Pros and Cons of Starting a Mobile App Business

Starting an app business is indeed a rewarding venture. However, like every business, there are both pros and cons to starting a mobile app company.

• Global reach: Easier to tap into the international market and capture a worldwide audience.
• Scalability: Easy scalability to accommodate more features, users, and new trends.
• Low overhead: Less operational and overhead expenses.
• Competition: Intensely competitive marketplace with millions of existing apps.
• Rapid technological changes: Demands constant updates to stay relevant.
• Monetization challenges: The easy availability of free apps makes vcc3 monetization difficult.

A Complete Guide to Starting an App Business

Table of Contents

• Research and validate your app idea
• Brainstorm a mobile app name
• Create an app business plan
• Secure seed funding for your app business (optional)
• Choosing a mobile app development platform
• Develop an app
• Register your app business
• Apply for business licenses and permits
• Get business insurance
• Apply for a bank account & business credit cards
• Pre-launch and mobile app marketing strategy
• Develop a monetization plan
• Build a team as you grow
• Make your app available in app stores
• Release timely app updates

Developing an app might be easier. However, starting a successful app business isn’t. Let’s uncover every detail that goes into starting an app business, right from idea validation to gathering user feedback to testing new ideas.

1. Research and validate your app idea

The first step in creating a sustainable cutting-edge application is to conduct a thorough market research. The quality research at this step will essentially lay the foundation for the success of your mobile application.

Ensure cover a detailed analysis of the following to create a fresh, innovative, and problem-solving solution for your audience:

• Target audience: Identify your target users and analyze their pain points with current solutions. Assess the market size for your solution and determine your targeted available market (TAM).
• Competitors: Identify your potential competitors and assess their standing in the market. Discover problems with their mobile apps and see if your solution fills the gap.
• Failed application analysis: Don’t only choose a successful app for your analysis. Look after failed applications and see where and what they did wrong to avoid the same mistakes in your application.

At this step, simultaneously, you will also work on validating your mobile app idea. The idea behind this entire analysis is to ensure that you chase a problem that’s real and demands a solution.

Instead of jumping in with the first idea, it is better to ideate, analyze, and then finalize an app idea that is better than the rest. Remember to give every idea an equal chance before scraping it off entirely.

Find an appropriate product-market fit for the validated idea and rework the areas where there is a scope for improvement.

Now, with your validated idea move ahead and brainstorm a name for your mobile application.

2. Brainstorm a mobile app name

Before you move to complex parts and start development, finalize the name of your mobile application. However, finding the right name is a struggle in itself.

Now, if you are already operating as a successful business, launch your app with the same name. This will make it easier for your existing customers to find you.

However, if you are launching a new business, here are a few suggestions that can help you brainstorm the perfect name for your app development company:

• Brainstorm the keywords that reflect your business offering. For instance, if you are launching an app in the health and fitness segment, include related keywords in your app name.
• Choose a simple, easy-to-recall and easy-to-spell name.
• Choose a short name. Different app stores have character limits. So better brainstorm the ideas within that range.
• Don’t use heavy jargon or phrases in the name.
• Use online name generators to find name ideas.
• Ask for suggestions from creative people in your social circles to finalize a perfect name.

Overall, keep your brand values and its value proposition in mind and find a name that’s a reflection of those values.

Also, ensure that the name is unique and is available for registration. If you are planning to register the business with some other name, finalize that as well.

Want a Unique Name for your Mobile App Business?

Generate a brandable and catchy business name in seconds with our free business name generator for mobile app businesss.

3. Create an app business plan

From determining the business strategy to executing app development to financing to launching the application and marketing- a lot needs to be planned, executed, and monitored while starting your own app.

Creating a mobile app business plan ensures that you understand the market thoroughly and have every step figured out to withstand the changing tides of the mobile app industry.

Moreover, if you are planning to raise funds for your mobile application, having a well-crafted app plan will give you the edge over other app developers.

Wondering what goes into writing a comprehensive app plan? Here are the most crucial components your business plan must include:

• Executive summary
• Business Overview
• Mobile app industry analysis
• Mobile app services
• Marketing and sales strategy
• Operations plan
• Key management team
• Financial plan

Writing a cohesive actionable business plan is a taxing job. It requires in-depth detailing to present your business idea thoroughly.

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4. Secure seed funding for your app business (optional)

Now, you need money for app development and other activities to turn those ideas into a reality.

Assess your monetary position and check if you require additional funds to start with the mobile app development. If so, how much?

Seek out a small loan from family members and friends to avoid any burden of repayment and high-interest rates initially. However, if that’s not the choice, identify the available funding sources and determine the best options for your needs.

Here are a few options for you to consider:

• Crowdfunding
• Angel Investors
• Venture Capitalist firms
• Credit card financing

If you are planning to seek funding from investors, you need to present a pitch of your business idea. For a certain stake in your business, they will provide you with equity.

However, you can always start small and seek funding from outside as you scale the app further.

5. Choosing a mobile app development platform

To begin the app development, first, finalize the ideal platform for your mobile app. All the mobile apps in the market have used one of these 3 app development processes to create apps:

Native apps

Native applications are developed to run on specific devices and operating systems. Such apps have access to the native device’s API, thereby, allowing you to build high-performance apps with a highly refined interface.

These apps are expensive to develop since you need different outputs for different operating systems. But they can be found easily by your target users for downloading. For reference, 80% of mobile traffic is generated through Native mobile apps.

Undertake the market research to gather an in-depth understanding of both the app stores- Apple App Store and Google Play Store. Assess the number of Android apps and iOS apps and the market share and revenue position of these platforms to make an informed choice.

For instance, as of 2023, there were more than 3.6 million Android apps and 1.8 million iOS apps on Play Store and Apple Store respectively.

Identify if your potential app users use Android or Apple devices and also consider the suitability of your native app with a respective operating system.

PWA (progressive web apps)

PWA is a hybrid of web pages and mobile applications. It is a web app that offers users a similar kind of experience to native apps.

These apps require no download and are indexed on search engines. They don’t require access to native device APIs to perform and are perfect for app businesses that require frequent updates.

It’s easier to target more customers with PWA than a native app and it is comparatively cheap to develop.

However, since the PWA’s don’t use native device’s API, it has a comparatively low performance in terms of features compared to native apps.

Lastly, there is an option of hybrid apps for you to consider. An app builder will help you build a cross-platform app for both platforms simultaneously using the same code.

Successful app business launches both Android app and ios app of their app to cater to a larger target audience.

Now allocate the resources depending on the app development method you choose.

6. Develop an app

Have you planned to develop a native app? If so, are you planning to develop an Android app, or iOS app, or both?

After choosing between native, PWA, and hybrid apps, it is now time to gather the resources and start working on the app development.

Here are 3 different methods to choose your development method:

Build your own app

This is perhaps the best method of cost-effective development, if you have proficiency in different programming languages, prior experience in building your own apps, and some time to invest.

Hire a freelancing app developer/ app development agency or an in-house team of app developers

If you are someone with no technical background, you need a bunch of people to undertake the development of your app ideas.

This method is costly. However, you can expect to have complete control over your product and its development.

Use an app builder

Similar to content management systems like WordPress, an app builder allows you to build a website without writing a single line of code. Watch how the user interface of your app turns out while the app builder builds it in real time.

As much as you focus on development, also draw your attention towards delivering a delightful user experience. Hire designers to help you attain a modern and intuitive user experience.

It takes anywhere between 6-10 months to turn your app ideas into a successful product. Follow this app development process to get a structurally correct product:

• Develop a minimum viable product
• Develop a wireframe
• Choose your programming language
• Start the coding
• Work on app design
• Test the app

Now, create a timeline for the launch and get the actual product ready.

7. Register your app business

Now, it’s time to give your mobile app business a legal identity. Register your business in these easy steps:

Select a business entity

A business entity is the legal structure of your business. The business structure you choose will determine the taxes, liabilities, and state regulations of your business.

Here are a few different entities you can choose for your mobile app business:

• Sole proprietorship
• LLC (Limited Liability Company)
• Partnership
• Corporation

Now, each of these entities has its own benefits and cons. Identify the suitable entity structure for your mobile application after thorough consideration.

LLCs and Corporations are more suited for businesses in a way that separates you from your business and keeps your liabilities under control.

Also, consider what are the prevalent business structures if you want to acquire funding from investors.

Apply for tax registration & business EIN

Now, quickly proceed with tax registration and get an Employer Identification Number (EIN) through an IRS portal .

The 9-digit EIN is like a social security number that allows you to open business bank accounts, apply for credit cards, fill the tax forms, and pay salaries.

Once the registration is complete, you go ahead and acquire the essential licenses and permits.

8. Apply for business licenses and permits

Business licenses and permits ensure that your mobile app business is legally compliant and sound. Depending on the nature of your app, its industry, functionality, and the area of operation; research and identify the essential licenses for your business.

Here are a few licenses and permits you must acquire for the mobile app business:

• Industry-specific licenses: Depending on your industry, i.e. gambling, healthcare, beauty, fashion, etc. get the licenses required in that specific trade.
• Zoning permits: If you are getting a commercial place for your app business, get essential building permits. Even if you are going to operate from home, check if your state requires zoning permits for home businesses.
• Software development license: Depending on your state of operation, you may be required to get a software development license to commence development.
• Sales tax permit: To sell physical and digital products, you may need a sales tax permit to accept and remit sales tax.
• Data protection and privacy compliance: Since you will be collecting personal and sensitive information from the users, you will be required to follow data privacy compliances applicable to your business—for instance, CCPA, GDPR, etc.

Hire a professional to look after these matters. Non-compliance with any rule may lead to extremely high penalties and fines.

9. Get business insurance

Insurance is not essential for compliance. However, it will safeguard your business against potential casualties and risks involved in the business.

Here are a few insurance you must consider getting:

• General liability insurance: If there is one insurance you must get, it is this. It offers protection against property damage, injuries, and a variety of business aspects that require coverage.
• Professional liability insurance: If you are going to provide services with your app, get yourself this insurance. It will protect against claims of professional negligence.
• Worker’s compensation insurance: For an app development business that will hire employees on a salaried basis, this license is mandatory. It’s a coverage plan for your employees.
• Cyber liability insurance: Since your business is going to operate in a digitized space, you need a license that protects your business in case of a security breach or leak of information.

Consider your requirements and acquire industry-specific insurance for your mobile app business.

10. Apply for a bank account & business credit cards

Set up a separate accounting system to keep your business and personal expenses separate. This will help you maintain your finances and will also ease the process of filing taxes.

Using that EIN number open a business bank account. Determine the best banking system that will work for your business. And also, apply for a business credit card.

Consistent credit card use will build your credit history and will help acquire loans in the future.

11. Pre-launch and mobile app marketing strategy

Making a perfect app is not enough. It needs to be marketed to the right audience through the right tactics to get traction and downloads.

Start working on your branding and marketing strategy before your app hits the app store. All the buzz and hype you create at this stage will help you when the app actually makes a launch.

Here are the marketing elements you should get in line with before launching your app on the app store:

• Clearly define your branding elements. What kind of image would you like to create in the market? Develop the app’s logo, designs, colors, and overall user interface keeping the branding in mind. Also, ensure that you deliver a consistent brand image through all your marketing channels.
• Identify where will you find your target audience. Will they be more responsive to social media or emails? Do they prefer written content or video content? Are they approachable through any offline channels?
• Create a landing page to promote the app and its features. A well-built landing page with correct strategic placements can be an invaluable asset in getting the desired outreach.
• Get in touch with influencers from your industry and collaborate with them to market your app.
• Create a content bank of content that can be reused for multiple purposes.
• Participate in industry-specific events and seminars to get in touch with your people.

Be generous with the marketing budget and put your app marketing plan into action.

Lastly, never put all your eggs in one basket. Try different marketing strategies and eliminate the non-useful ones as you monitor and analyze the results.

12. Develop a monetization plan

Are you planning to make money directly or through your app? If that’s the case, start thinking about a suitable app monetization model.

Here are a few methods popularly followed by other apps on iOS App Store and Play Store.

• In-app purchases: In-app purchases are for businesses that aim to sell physical or digital products through apps. Consider them as e-commerce apps that facilitate sales for your products.
• Freemium: These are downloadable free apps on the app store. However, only certain contents of these apps are free.  In this method, you earn when a user pays for paid content after using the free version.
• Subscription: You generate weekly, monthly, quarterly, or annual revenue by getting repeated subscriptions for your services.
• Paid apps: These apps aren’t available for free download. The user pays a certain fee to download the app and access its content.
• In-app ads: You can generate revenue by renting out advertising space on your app. However, ensure that you don’t sacrifice the user’s experience in this chase.

Each of these monetization models has its advantages and disadvantages. Identify the monetization methods used by your competitors or applications offering similar services. And plan your strategies accordingly.

13. Build a team as you grow

Don’t build a large team right from the beginning. Ideally, get the basic development of your app through freelancers or remote app developers.

Depending on whether you plan to launch an app on the Apple app store or Google Play Store, you will hire professional experts in respective programming languages.

Focus on a small but highly qualified team. Get the work like accounting, legalities, and marketing outsourced.

App development is a costly affair. You better plan the entire development process hourly to keep track of project completion.

14. Make your app available in app stores

You have come a long way. From undertaking market research for your app idea to preparing MVP and developing the app, you finally have your app ready to be launched.

Now you work on your app store optimization to make the app discoverable on app stores. The app market is intensely competitive. Whether you plan to launch an app on Apple’s app store or Google Play store, an optimized app stands a higher chance of being organically visible.

Here are a few things to consider while performing app store optimization:

• App name: Optimize your unique app name within its character limit. The character limit for an iPhone app is 50 while that for an Android app is 30.
• Keyword optimization: Add the relevant search terms of your app to make it easily discoverable.
• App icon: Use a clear distinct icon to your app to create a recalling power.
• Description: Add a captivating description of your app describing its features and benefits. Use bullet points, headers, and subheadings to keep the information easily scannable.
• Screenshots: Add important screenshots from your app design to help users understand what they can expect.
• Video: Add a video of your web app defining its clear purpose, message, and value proposition to connect with the users.

Manage your app store optimization by understanding the requirements of different platforms and making your apps available on app stores.

15. Release timely app updates

Launch the app as soon as your MVP is ready. Don’t wait for the development to end so that you have all the features ready. Focus on essential features and deliver them with your MVP.

Test the app on early adopters and gather the user data for performance on different mobile devices. It will provide invaluable user feedback from further development.

Launching the app is not the end of your app-building process. You need to regularly roll out updates, fix the bugs, and run beta testing of new features to stay ahead in the app market.

Ideally, an app development company should roll out new updates every 3 to 4 months.

Time to take the first step and validate your app idea. Already validated? Well, let’s build a solid foundation for your business idea by writing a stellar app business plan.

Writing a plan will ensure that there is no oversight in app planning and you get a clear direction to run your app business.

Upmetrics offers 400+ sample business plan examples for businesses from varying industries. These examples are perfect for writing a detailed and comprehensive business plan.

Now use our Upmetrics app business plan sample and get started.

The Quickest Way to turn a Business Idea into a Business Plan

Fill-in-the-blanks, AI-assistance, and automatic financials make it easy.

Frequently Asked Questions

Do i need technical skills to start an app business.

Yes, you can start an app business without any technical skills. There is a variety of app maker that allows you to build an app with simple drag-and-drop options. Moreover, you can always hire a technical partner to look after app development and its complexities.

What platforms should I target for my app (iOS, Android, both)?

Whether to make an Android or an iOS app or launch an app on both platforms, depends largely on your target audience. Conduct research and understand whether your app users will belong to the Android or iPhone cohort. If you can generate a reasonable user base from both platforms, you can consider making a hybrid app.  

How do I create a business plan for my app startup?

To create a business plan for your app startup, begin by undertaking thorough and detailed market research. Now, translate your ideas onto a paper covering the key fundamentals of a plan. Writing a plan can be difficult. So, it’s better to use templates and plan builders that will help you write a compelling actionable plan.

What are some common mistakes to avoid when starting an app business?

Here are a few common mistakes to avoid when starting an app business:

• Working on too many ideas
• Delaying the launch
• Not marketing it enough
• Not paying enough attention to the user interface

How can I secure funding for my app startup?

Apart from personal savings, here are a few funding options for you to consider:

• Venture Capital Firms
• Credit line
• Friends and Family

How can I monetize my app and generate revenue?

Here are a few ways to generate revenue through your mobile app:

• Offering a freemium model.
• Offering in-app purchases for additional access and services.
• Making it a paid app.
• Generating revenue through ads in your business.
• Getting sponsorships on the app.

About the Author

Matthew Khalili is an experienced business planning expert and the founder of The Plan Writers. With over a decade of experience in the field, he has helped numerous entrepreneurs in creating investor-ready pitch decks and business plans. Matt has enabled 5000+ startups to raise over $1 billion through his business plan, market research, and financial modeling services. Read more

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How to Write a Business Plan for a Mobile App Startup?

Anton Baryshevskiy

Head of Business Development, Co-Founder

Head of Business Development

Get your project estimation!

If you’re on the threshold of launching your mobile app startup, there are numerous things you need to be concerned with: workload, core concept, budget, product implementation area, employees… You need to rightly put all key elements of this puzzle together to provide a clear roadmap for your project — that is, to compile a business plan for mobile app development.

We at Mind Studios know how to make a business plan for an app. Here, you'll find a complete guide to creating a business plan. Also, we’ve added our template to help all stakeholders and investors have a clear and most importantly, equal understanding of your startup idea. So if you don't know how to plan an app yet and where to start, let's find out more about it.

A business plan is a guide that turns your ideas into action

As a rule, you should start with visualizing the project and formulating its key ideas. They will later become the basis of your business plan.

Another vital component of developing your project is writing a product requirements document (PRD) for your app. It consists of three sections: business requirements, user requirements, and software system requirements . The business plan is, actually, a component of the PRD, namely the business requirements part.

All the preceding processes, such as developing a project vision, core ideas, and concepts, creating an app development plan, and drafting a PRD, allow all stakeholders to be on the same page as the startup's founder.

In this post, we’ll go through how to write a business plan for an app startup.

Some statistics

Still not sure if your startup needs a business plan? Numerous studies back up the value of having a well-thought-out business plan for companies on different stages of their business journeys.

According to one study that involved 3,000 company owners from diverse fields, those with business plans were almost twice as likely to succeed as those who didn’t. Furthermore, such strategic-planning companies were more effective in attracting investment or securing loans.

You can find more detailed information in the diagram below:

If your way is developing a mobile application

As of 2021, people have made 230 billion downloads of mobile applications, up by 63% than in 2016. Everyone appears to require mobile solutions these days, so your startup has a lot of room for imagination. You can choose from a wide range of mobile app types. To name a few, it could be a travel, event planner (here's an event app development guide), money management, social networking, or fitness app.

No matter which one you decide to create, a pre-written mobile app business plan can help you seamlessly go through the mobile app development process with its four fundamental stages : discovery, idea validation , design, and actually, development.

A goal without a plan is just a wish

There is a plethora of mobile applications these days. It means, though, that there are hundreds of almost identical apps in each category. Attracting users becomes a task of utmost importance.

Chad Mureta, an app tycoon, says that a developer’s profit directly depends on their knowledge of what’s interesting to the user; that is, to create a successful and profitable application, a developer should think like a user .

Creating a mobile app business plan template based on thorough user analysis will help you explain your business idea to stakeholders. Also, you’ll see a path to a product-market fit. To make that happen, you should determine what your target audience wants, needs, likes/dislikes in competitors’ apps, and tends to expect from using your app.

Therefore, identifying your target audience preferences should be your priority, as it is one of the main drivers of your startup.

Understanding the market is the key to success

The author of the bestseller 4 Steps to Enlightenment. Strategies for creating successful startups , Steve Blank, suggests that very few people understand where their market is. The writer believes it is almost impossible to launch a thriving startup without analyzing the market it’s going to enter.

Before you start writing a business plan, it’s crucial to figure out not only the degree of public interest in your product but also the level of competition in the market you’re going to enter.

Thanks to the preparatory analysis of your rivals and potential app users, you’ll be able to flawlessly identify your product’s objectives, advantages, and unique value proposition (UVP). This will also help you form the basis of a proper business plan.

Review your business plan annually

Steve Blank claims that a business plan is static in contrast to a business model, which is dynamic. A business plan appears to be stable by definition: that’s a document created once and rarely revised after adoption.

But in our quick-to-change world, do you believe there’s anything that could remain static? Especially in terms of business? Investopedia , for example, shares an opposite to Steve Blank’s statement: A business plan should evolve in tandem with a company’s growth.

We at Mind Studios adhere to the last approach and recommend you go through your business plan for an app at least once every year . It will allow you to respond to changes in your users’ demands and assess what goals you have achieved and which ones you still need to accomplish.

Moreover, refreshing a business plan will enable you to keep your finger on the pulse of your startup’s current and upcoming financial needs and, therefore, help you develop efficient strategies to attract investments. Consider it a dynamic document that adapts to your startup’s development path.

Why should you make a business plan for apps?

In addition to helping you get your startup off the ground, a viable business plan acts as an indicator for investors to consider it as a potential asset.

Let’s summarize the main reasons why your mobile app startup needs a business plan:

Both startups and established businesses need business plans, the content of which will depend on the company’s primary goal.

To attract partners, startup owners tend to use a business model canvas — a more flexible model of the traditional business plan. It can seamlessly adapt to the iterative nature of tech startup development, yet providing core information about a project.

However, the business model canvas for an app does not guarantee 100% success; it can only be one of the components that will help your project attract investment. A comprehensive business plan with a detailed description of your company and mobile app, justification of funds use, and coverage of all legal concerns is what can instill trust in all stakeholders of your project.

Is there a difference between a business plan for a mobile app and other software?

There are obvious distinctions between mobile applications, websites, and other software solutions. They significantly contrast in marketing approach, monetization strategy, and feature sets. As a result, business plans for these solutions will differ as well.

A traditional software development business plan might be structured similarly to a business strategy for a mobile app company. However, any document that presents the firm and its product will be distinctive in content. It is reasonable since each project is unique, with its own goals and target audience.

What does a business plan for a mobile app look like?

Your mission is to create a reliable and stable mobile application for either enterprises, individuals, or non-profit organizations. In this case, a business plan will help you pave the road to make your project profitable.

Therefore, when writing a mobile app business plan for startups, you’ll need to estimate the cost of development and commissioning as well as the timing of the return on investment in your project. Only by doing this, will you get a clear picture of your app’s viability.

One of the essential factors in writing a good startup business plan for a mobile app is delivering maximum transparency at each part. Let’s highlight what you should include in your mobile app business plan to make it serve your business in the most effective way possible.

Executive summary

Let’s start with the executive summary . It is the first and most significant part of your mobile app business plan because it’s the first thing an investor will read. The executive summary should be clear and concise, with no detailed information about how your product works. Address the situation in the market, who your target customer is, and what unique problem your application can solve.

Make your proposal unique to distinguish your company from others. In other words, create a unique value proposition (UVP). Use your imagination: consider your executive summary as a movie teaser and your investor as a spectator. Would they like to see your movie?

Specify your goals . These objectives should rely on your business analysis. Investors will examine your aims to see if they satisfy their needs. You also have to determine the ultimate goal of your exit plan . Furthermore, you should establish a list of funding requirements and the proceeds that will be used to boost the attractiveness of your company. One of the essential factors in the startup business plan for your mobile app success is ensuring maximum transparency at each stage.

Make your document convincing . To do this, ensure your product’s concept and goals are crystal clear and do not vary throughout the paper. Provide the reader with accurate data and realistic expectations about your project. Of course, don’t forget to make sure that the name of the person who created the business plan and executive summary and the names of your team members are consistent throughout the documentation.

Business description

Introduce your company in this part, beginning with corporate information and ending with your mobile app concept. This part of your startup business plan will show investors the corporate values of your company, your mission, product vision, and the fundamental factors for your startup success.

This information is vitally important for investors. For example, a technology startup accelerator Y Combinator considers getting money as by far the easiest part whereas working on ideas — the most significant part for any startup in achieving success. In most cases, Y-Combinator-like organizations make compiling a thorough business plan a prerequisite before introducing newly-formed projects to investors.

Company overview

Here you should describe your company’s:

This section should give the reader of your business plan detailed information about your startup: the official name of your company, the location of the headquarters, and its structure, namely the business entity type (LLC, corporation, etc.). Make sure to provide further details about your team, such as the number of workers, their names, job titles, and so forth.

Describe the purpose of your company and the fundamental principles that guide your business in the mission statement. After establishing your mission, outline the primary challenges and solutions your startup can offer.

Company history

Before making any business proposal, describe the history of your company, how your team formed, and how you came up with your idea. In addition, you can talk about the main stages of your company’s development and the experience that precedes the product launch.

Whether you are outsourcing app development process or you have an in-house team, it is often the most significant part of the executive summary because your app development team is the main engine of your project implementation. You should specify each person’s name, position, work experience, and responsibilities in the company. In addition, you can involve an advisory group that will help you make essential decisions. Consultants on your advisory team should have experience in the industry.

Market analysis

Information about the state of the market should be the main factor in your app idea realization. You should be aware of the present situation in your industry, have up-to-date information, and be able to generate a short-term forecast.

To conduct market analysis , you should take several steps:

• Examining existing business environment
• Defining your market research criteria
• Determining your total available market (TAM), service available market (SAM), and service obtainable market (SOM)
• Identifying your direct competitors
• Analyzing your target audience and figuring out the cost per acquisition (CPA) for your niche

No market research in the mobile app industry can be conducted without analyzing Google Play Store and Apple App Store with their ranks for top paid, top free, and top-grossing apps as well as user reviews.

Market forecasts

Forecasting is an integral component of writing a business plan for an app development startup realization.

Forecasts from reputable research firms such as Nielsen and Forrester are of interest when creating any business plan, be it a business plan for an app development, a website, or a traditional software startup business plan. To provide reliable market forecasts, you can:

• Include data on the growth of companies with solutions similar to your mobile app
• Add information on the amount of money poured into similar startups (platforms like Crunchbase or Y Combinator can help with this)
• Enrich your business plan with some forecasts on your target customer behavior

Your goal is to assess whether there’s a real market for your product, whether there are enough customers in the market, and, accordingly, whether those customers are willing to pay money for using your product.

SWOT analysis

A SWOT analysis is a strategic planning method that allows you to present a structured description of your business situation. It can be a great way to evaluate your app startup concept from four perspectives. Namely, its:

• W eaknesses
• O pportunities

It’s natural when a business has weaknesses: knowing about them will serve as a powerful driver for finding solutions and will reduce any risks your company may need to face.

Marketing strategy

An app marketing strategy is a bridge that allows your product to fall into the hands of your customers. You have to convince investors that you have such a bridge. This is an important part of the mobile app strategy.

When drawing up a mobile app marketing plan, you have to define the marketing strategies you intend to use in application promotion. Here are a few examples, along with descriptions of how they work:

Create a landing page

Creating a landing page for your mobile app will help you reach a wider audience by informing users about new features and updates. Make sure your page contains the name of the application, a description of its functionality, promotional videos, and so on.

Launch a website and blog

Launching a website is a great way to promote your application. There, you may, for example, provide more information about your company, its goals and values, and an overview of your future mobile solution.

A website blog is also a helpful thing with your app advertising. You can share news on your upcoming product and publish SEO-optimized articles for better promotion.

Social media marketing

Consider social media marketing while developing a business strategy to promote your app. Describe how you intend to use this form of advertising at various phases of your mobile solution development: before launch while attracting your audience and retaining users.

Estimate your marketing budget

You may estimate the cost of marketing services based on the market analysis you outlined in the preceding section of your business plan. Understanding the marketing budget is essential to all parties: you, the app owner, investors, and other stakeholders.

Product growth

Depending on the type of app startup, growing the user base approach differs, as does the business plan for entering different markets. For example, a massive advertising attack tends to make sense in markets where consumers understand your product or service and its usefulness.

Take, for instance, Uber , which has successfully launched extensive marketing campaigns. The company’s ads have spread globally with Uber localizing advertising for each region.

So, if you’re still working on a business strategy, think about how you’ll expand your user base in advance. This will tremendously assist you in future product growth.

Choose your product launch type

Be sure to indicate the product launch type in your business plan. There are two such types: hard and soft launch . The first one means delivering a finished product to your entire target audience. A soft launch is when you release an MVP or full version of your app, but for a limited audience.

To rightly set out this part of your business plan, you should clearly understand what kind of financing you need to move forward. Moreover, you need to express it as clearly as possible to be sure a potential investor will also understand what funding you need.

The financial model includes, as a rule, a three- to five-year forecast of all the main forecasted indicators, including profit and loss, cash flow, balance sheets, start tables, unit economics calculation as well as your app’s projected revenues and costs. Your financial document has to contain the following components to determine the actual cost and distribution of investments in the best way, with a clear explanation of each.

Startup costs/funding required

Inform your investors about estimated costs. We recommend placing reasonable estimates and leaving room for extra expenses since these numbers might fluctuate.

Designate all types of costs :

• One-time costs (e.g. relocation costs, costs for buying an office space, equipment, servers, software, licenses)
• Fixed costs: they remain unchanged regardless of whether you produce something or not (e.g. rent, insurance, lease payments, fixed salaries)
• Variable costs: costs that change according to the production volume (e.g. wages)

Monetization strategy

It is another section you need to add to your mobile app business plan. By illustrating your monetization model, you’ll demonstrate to your investors and other stakeholders that your project will be profitable and provide a return on investment with positive unit economics. It will also help you be sure that your startup will reach its break-even point.

The most common ways to monetize an application are :

• Advertising
• Charging for the application (if your business model describes a paid application, you need to convince the consumer why they have to pay and what they’re paying for)
• In-app purchases (this is a widespread mobile app business model in iOS and Android applications)
• Subscriptions (this model of monetization is quite popular and works until the user decides to cancel the subscription; in most cases, subscription apps have a free trial period)

One of our prominent projects in which we’ve helped set up a monetization strategy is Fitr. Training , a remote fitness coaching application. Our team analyzed the platform’s performance and discovered we could enhance the conversion rate.

We established a monetization model based on the collected data and customer feedback. Namely, our team launched an efficient subscription option. The results were remarkable: one out of every four coaches now uses the paid membership.

Mind Studios can also assist you in elaborating a potent monetization strategy.

Business plan example for a mobile app startup

We’d like to offer you a business plan template for a startup updated to 2023. Keep in mind that, although this mobile app business plan itself is structured according to all the rules, the calculations are entirely fictional. To complement our business plan, we also provide a mobile app marketing plan template, ensuring a strategic approach to promoting your app in the competitive market. This template includes up-to-date techniques for 2023, guiding you through effective advertising and user engagement strategies.

Download the free PDF business plan template for a mobile app here .

Writing a business plan for a mobile app startup isn’t easy. As a rule, the most challenging part of developing a business plan for a mobile app idea is writing the first page. Many people in this situation rush to find and download a free copy of another company’s business plan. They mistakenly believe that someone else’s business strategy will help them achieve their goals. But it absolutely won’t!

A business plan cannot be a cloned document. It must be one-of-a-kind reflecting your passion and enthusiasm in bringing your idea into life . A successful business plan should demonstrate that your company is viable and financially attractive. The higher the viability, the higher the investment opportunity.

If you need to compile a well-thought-out business plan to attract investments and successfully launch your app, our expert team at Mind Studios is here to help .

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Frequently Asked Questions

Below are answers to your most frequently asked questions:.

Immediately upon purchasing Growthink’s Ultimate Mobile App Business Plan Template, you will be taken to our Member’s Area where you can instantly download our template and begin working on your business plan.

If for any reason you are not delighted with our product, simply contact our friendly support desk and you’ll be issued a full refund. You have an entire year to request a refund if desired.

Unlike other software that charges you a fee month after month after month, you only pay once for Growthink’s Ultimate Mobile App Business Plan Template and you own it.

You can create an unlimited number of business plans with Growthink’s Ultimate Mobile App Business Plan Template. Once you purchase it, you have lifetime access to use it for any business in which you’re involved, now or in the future.

Yes, Growthink’s Ultimate Mobile App Business Plan Template works flawlessly on both PCs and Macs.

Growthink’s Ultimate Mobile App Business Plan Template is designed for both established Mobile App businesses and startups.

Yes , you can! Anyone can easily follow our basic instructions and create a great business plan quickly and easily. Plus, my expert team is available to help you if you have any questions.

More Feedback

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• Insights , Software Development

What Is a Mobile App Business Plan and Why Is It Important?

• March 1, 2022

Alex Kugell

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A mobile app business plan is a strategic way of playing a role in emerging markets.

Smartphones have become so pervasive that it’s likely even you are doing the tasks that you once did with a console or a computer with a pocket-sized flatscreen.

While 96% of all Americans own a cellphone, as much as 81% use a smartphone specifically. 

For those with businesses centered around technology, this means creating a business plan that can cater to a new horizon of innovation. Where smartphones are concerned, the most efficient way to cater to this need is through mobile apps.

Developing a mobile app starts with a good idea that you think will interest your target demographic. But to truly see your app thrive, you need a mobile app business plan.

Today, you’ll learn why this is such an important piece of the puzzle and what steps you should take to start your mobile app business plan.

Why Is A Mobile App Business Plan Important?

The market for mobile applications is continuing to grow. More and more businesses and entrepreneurs are trying to get into the game before the market gets too saturated.

Venturebeat expects the market to grow 270% to $189 billion by 2020. More than 50% of the market is held by gaming apps , the most popular kind of mobile apps.

As appealing as it sounds, creating a valuable and profitable app is not as easy as you may think. Creating a business plan for your application should be the first step to a successful launch. 

A comprehensive mobile app business plan serves as a guide for everyone involved in the project. It also gives insight on how the app should be introduced to the market in the most lucrative way.

Coming up with a good mobile app business plan is fairly straightforward. A business plan will provide you with a clear vision of your app along with marketing and financial logistics.

Whether you decide to bootstrap development or not, a good business plan usually contains the following:

• App overview
• Unique selling proposition
• Market analysis
• Estimated marketing costs
• Revenue projections
• Marketing plan & launch strategy
• Projected profit/loss statements
• Break-even analysis
• Cash flow projection

How To Write a Business Plan for a Mobile App

Documentation is the best way to organize any idea, no matter the industry. Mobile app business plans do not differ in this regard.

A business plan includes several sections:

Executive Summary

This is an opportunity for you to summarize your business plan in a concise manner. Readers should be drawn to your business and want to learn more about your goals at this point.

Leaving this part for last – after you’re done writing the rest of your business plan – might help you better formulate your words for this section.

Company Description

A company description is exactly what it sounds right. That said, don’t be afraid to be detailed about various elements of your business.

For example, your company’s legal structure, financial highlights, and suppliers should be part of this description as well as a brief history and overview of your company’s objectives and consumers.

Products & Services

In short, what are you selling? Write a detailed description of the product or service you’re providing with a focus on how customers benefit.

Again, be descriptive here. Include, copyrights, patents, research and development proposals , and how the product fares in the market.

At this step, you should start drawing conclusions based on market analysis, which should be composed of details such as a sketch of your target customer segments, an overview of your industry, historical and current market projections, and an inquiry of your competitors.

All this should be backed up by quantitative and qualitative data.

Combining all the information you have gathered, illustrate a strategic means of reaching your goals from promotion to costs to labor to operational management and lifecycles.

Management & Organization

Explain the roles and responsibilities of the people in your company. Even advisors like accountants and attorneys should be listed. Stakeholders should be included too with a description of their percentage of ownership.

Use an organizational chart that categorizes different departments with the names of each employee and company associate.

Now it’s time to get down to business. You’ll need to come up with some projections of how much your app will make.

Also, make some statements about your financial history for the past few years.

3 Steps To Building a Marketing Plan for Your Mobile App

The creation process of a memorable mobile application is not limited only to software development.

No matter how awesome your app is you need to know how to introduce it to the market. This means making sure that it reaches the right audience and starts generating revenue within the first days.

Building a user-friendly optimized application is crucial for the project’s success. But without knowing how to market it, it will take you much longer to reach your business goals.

A marketing plan shows that you know your product well and understand the needs of your audience and the market.

A good marketing plan addresses at least the following points:

1. Identify a Unique Selling Proposition

What makes your app different and/or better than the competition?

Knowing what differentiates your product will help create the proper positioning and brand messaging you need to market effectively.

2. Target a User Persona

Who are you targeting? What are their interests? This answer can contain one or more types of people, but you must outline them as detailed as you can.

Creating a user persona often puts together the following demographic information:

• Marital status

Psychographic data is also important. This allows you to understand the mindset of your target. Here are some examples:

• Challenges (personally or professionally)
• Personal/professional goals
• Favorite sites/apps

Think of developing a user persona as if you are creating a character for a story. Only you want your character to be as objective and realistic as possible.

In the beginning, you will define your user personas based on your own perception. It’s important to know that your perspective is subjective. Research is required to be true to the user persona you create for your product.

3. Use the Right Marketing Channels

Depending on your target, you should tailor the channels you use to reach out to them.

If your potential user base is on Instagram, then you should market on Instagram. Don’t waste your time on LinkedIn.

A common pitfall people make when marketing is to do everything. In theory, that sounds great. Except it’s a no stone unturned approach that will spread you thin.

Get to know your target audience and find where they congregate. Think like a fisherman.

The hot technique these days is growth hacking. Growth hacking is a means of rapidly trying out new methods to increase brand awareness. It’s great for businesses with very little funding that are looking for creative ways to market.

Here is a list of marketing channels for you to consider:

• Social Media ads
• Search engine Marketing
• Partnerships
• Content marketing
• Email marketing
• Event marketing
• App store optimization
• Organic or Incentivised downloads

A good way to get ideas is to study apps that have become successful. Find out what they did in their early stages to move the needle.

Monetization Strategies for Mobile Apps

The classic growth model apps use is to develop a user base and then monetize them later. But that is not the only path to success.

Other options for advertising include:

• In-app advertising
• Incentivized advertising
• In-app purchases
• Subscription

To validate your strategy, check out what competitors are doing. What strategies are they using and what are they charging?

4 Financial Key Metrics for Your Mobile App Business Plan

Once you’ve decided how to monetize your app, you need metrics to know you’re doing it right. You should keep these metrics in mind as you plan to monetize or validate your mobile app.

Before you build your app, these metrics will be speculative. However, they can still help you understand how your app and business will perform in the long-term.

1. Customer Acquisition Cost (CAC)

In the context of mobile, this metric would be called cost per app install (CPI). If possible, you can go further to find out the cost per activation (CPA).

Since this type of information doesn’t exist yet for you, you will have to rely on industry benchmarks. Companies like Fiksu can give you information on cost per thousand (CPM) from month to month.

2. Lifetime Value (LTV)

Ideally, you will want to know how much money you can make on average from a single user.

A low LTV will be considered a yellow flag, and if your acquisition costs are high then you’re going to have a hard time breaking even.

3. Burn Rate, Runway, and Cash Flow

Your burn rate is essentially the rate at which a startup ‘burns’ its liquid cash. This can be measured in monthly increments. Another way to think of this is as negative cash flow.

Cash is spent through fees, hosting charges, and other variable and fixed overheads. Like any good business, you will want to keep cash flow down.

Runway refers to how much time you have before your business runs out of costs. To calculate runway, use this formula:

Runway = (Total funds) / (Burn Rate)

Naturally, your cash flow will be determined by your monetization strategy and how well it is executed.

4. Profit & Loss Statement

Finally, you should project your profits and losses over a period of a year. This section identifies the liabilities and assets you might gather.

When estimating your possible earnings it makes sense to look at the situation from different angles: a best-case scenario; a worst-case scenario; and, well, realistic conditions.

Analyzing these three different outcomes will give you an idea of where you might want to cut costs. Ideally, you don’t want to go bankrupt during the first few months in business.

If you are able to recapture the expenses during your first year in a worst-case scenario stimulation, that gives a lot of promise for your app in the market.

5 Channels to Validate an App

Before investing in the development of your mobile app you want to make sure that your idea will have demand in the market.

Creating a mobile application requires both time and money. Early idea validation will ensure that you are investing in the right project.

Start with researching the market and getting feedback from industry experts and potential final users to get an idea of how viable your idea is.

You should also think about what you might want to change to make your app more viable .

There are multiple ways to validate your app. Here are a few ways:

1. Google Ads & Facebook Ads

If you already have a landing page set up, you can get straight to work. With a small budget, you can test a targeted audience and evaluate the response.

2. Google Trends

Google Trends allows you to compare keywords for relevancy. If you are entering a growing market then you can validate the market potential based on search volume.

This tool won’t work for apps that are novelty ideas though.

3. App Store

In the app store, be sure to check out the category that aligns with your app. You will see other apps that are competing.

Download a few of them and learn their strengths and weaknesses. This will help you come up with your unique selling proposition.

More importantly, read the reviews to see what users like and dislike about the app.

It would help if you asked yourself the following questions:

• Why do people like the app?
• What makes the app stand out?
• Does the app work the way it should?
• How are they marketing their app? (Check out the screenshots, icon design, and descriptions.)
• What is their competitive advantage?
• Does the app have any traction outside of the app store?

4. Third-Party Analytics

Companies like App Annie and Sensor Tower provide market data to help drive growth for applications.

5. Primary Research

Surveys and questionnaires can be very insightful if done correctly. This method will give you the best insights about customer behavior which can make or break your plan.

All for the better, of course.

How you choose to go about it is up to you. Some people are comfortable asking strangers on the street. Others tap into their social networks and ask their friends and acquaintances.

Finally, there are polls, which you can leverage to package your questionnaire in a presentable format.

Some people get obsessed with ideas but have no idea how to flesh it out.

They learn that mobile apps are lucrative, learn Java or Swift, and try to dive headfirst into something they know nothing about. In effect, they fail before they even get started.

Fortunately, the steps outlined here should help you build a more effective strategy around the development of your app.

Monetization, financial metrics, and figuring out what makes your product unique are a few principal points to take away from this.

>>> Keep learning: A more in-depth look at how to develop a mobile app on the Trio blog .

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How to write a business plan for your mobile app development project.

Starting a mobile app development project is a great idea because it allows businesses to reach a larger audience with their product or service, and it gives users the convenience of being able to access the app from anywhere on their mobile devices.

But, first thing first, you need to write a business plan.

A business plan is essential for any project, especially for mobile app development. It outlines the goals, objectives and strategies needed to successfully launch the app. It also helps to identify potential risks and provides a roadmap for the project's success.

In short, a good business plan will help ensure the profitability of your mobile app development project .

What are the essential parts of a business plan for a mobile app development project? What is the recommended format? Which important financial measures should be there? What's the best way to create a business plan quickly and effectively?

Please, find comprehensive answers to all these questions below.

Also, please note that starting your business plan from scratch is not mandatory.

You can download our editable business plan for a mobile app development project and adapt it to your project.

How to prepare a business plan for a mobile app development project

Is it worthwhile to invest time in a business plan for your mobile app development project.

Yes, you should invest time in a business plan for your mobile app development project to ensure the success of your project.

Formulating a comprehensive business plan will allow to:

• get familiar with the mobile app development market
• stay on top of the industry's emerging trends
• identify what makes a mobile app development project solid and successful
• understand the target audience's requirements and preferences for mobile applications
• come up with a unique value proposition for your app
• analyze competitor target markets
• identify solid competitive advantages for your mobile app development project
• find a business model that will generate positive cash flows
• implement a well-structured and calculated action plan
• evaluate risks associated with a mobile app development project, including technical challenges, user privacy, and market competition

Our team has created a business plan for a mobile app development project that is designed to make it easier for you to achieve all the elements listed.

How to outline a business plan for a mobile app development project?

A business plan is filled with facts, figures, and indicators. It must be presented in a structured format, to make easy to read and digest.

When we built our business plan for a mobile app , we took care to arrange it appropriately.

The content is arranged in 5 sections (Opportunity, Project, Market Research, Strategy and Finances).

1. Market Opportunity

The introductory section has been named "Market Opportunity".

This section presents a comprehensive report on the mobile app development project, including key data and metrics to guide your decision-making.

We continuously update all the data there.

2. Project Presentation

The second part is dedicated to the "Project" of your mobile app development project. Here, you can outline the purpose and functionality of your app, target user demographics, user interface and experience design, development timeline, app store submission plans, and the unique value proposition that solves a specific problem or provides a unique solution for users.

Remember to introduce yourself at the end of this section.

Discuss your expertise in mobile app development, your range of services, and how you plan to provide innovative and user-friendly app solutions to clients. Highlight your track record of successful projects, your skilled team of developers, and your dedication to delivering seamless and engaging mobile experiences that meet the needs and expectations of users through your mobile app development project.

You'll find wording already provided in our business plan. Tailor it to fit your concept exactly.

3. Market Research

Next up is the "Market Research" section.

In this section, you will find a detailed market segmentation analysis for your mobile app development project.

It includes a presentation of other mobile app development companies in the industry that will be competing with you. Your project's unique app features and competitive advantages are also highlighted. A customized SWOT analysis is included.

4. Strategy

In the "Strategy" section, you will find a detailed growth plan for your mobile app development project, outlining all the necessary steps and initiatives to ensure its high profitability.

Furthermore, there is a marketing strategy, a risk management strategy, and a Business Model Canvas that has been filled in, all included in this section.

5. Finances

Ultimately, the "Finances" section provides a comprehensive view of the financial aspects and metrics of your project.

How to write an Executive Summary for a mobile app development project?

The Executive Summary is like an introduction to the business plan for your mobile app development project.

Keep it brief, not exceeding 2 pages. Stick to the crucial points.

When you show your business plan to an investor, this is what they will read first. It needs to get their attention and make them want to read the rest of the plan.

In the Executive Summary of your mobile app development project, answer these questions: what is your mobile app development project about? who is your target audience? are there any similar projects in the market? what makes your project unique? how much funding do you require?

How to do the market analysis for a mobile app development project?

The market study of your mobile app development project helps you understand external factors such as customer demands for mobile applications, competition within the app development industry, and emerging trends in mobile technology.

By conducting an extensive market study, a mobile app development project can understand user needs, offer innovative and user-friendly mobile app solutions, optimize pricing strategies, and execute targeted marketing campaigns, ultimately leading to increased user adoption, app downloads, and a prominent position in the mobile app industry.

This is what we've outlined in the "Market Research" section of our business plan for a mobile app :

• interesting data points and market insights about mobile app development, including app usage trends, app market revenue, and the growth of app-based services
• a list of potential customer segments for a mobile app development project
• the competitive research
• the competitive advantages for a mobile app development project

The key points of the business plan for a mobile app development project

What's the business model of a mobile app development project, business model of a mobile app development project.

A mobile app development project's business model revolves around creating and monetizing mobile applications for specific platforms such as iOS or Android. Revenue can be generated through app purchases, in-app advertising, in-app purchases, or subscription models.

The business model focuses on identifying market needs or gaps, designing user-friendly and engaging apps, developing robust and scalable code, testing and optimizing app performance, and implementing effective monetization strategies.

Success depends on market research, delivering high-quality user experiences, effective app marketing, regular updates and improvements, and staying responsive to user feedback and evolving industry trends.

Business model ≠ Business plan

Please don't mix up the terms "business plan" and "business model."

A business model outlines the way a company creates value, generates revenue, and operates.

In a business plan, you demonstrate your business model using a structure called the Business Model Canvas.

Rest assured, we provide a Business Model Canvas in our business plan for a mobile app .

How do you identify the market segments of a mobile app development project?

Market segmentation for your mobile app development project involves dividing your potential clients into different groups based on their app development needs, industries, and target audience.

These categories may include factors such as iOS app development, Android app development, gaming apps, or clients from specific industries (e.g., healthcare, finance, education).

By segmenting your market, you can offer specialized app development services and solutions that cater to each segment's specific requirements. For example, you might provide iOS app development services and design user-friendly and intuitive interfaces for Apple device users, offer Android app development services and optimize apps for a wide range of Android devices and versions, specialize in gaming app development and create immersive and engaging gaming experiences, or develop industry-specific apps tailored to the needs of clients in sectors such as healthcare, finance, or education.

Market segmentation allows you to effectively target your marketing efforts, showcase your app development expertise, and deliver high-quality and customized mobile app solutions that meet the unique needs of each client segment.

In the business plan for a mobile app , you will get a detailed market segmentation, helping you understand your target audiences and their needs.

How to conduct a competitor analysis for a mobile app development project?

Without surprise, you won't be the only mobile app development project in the market. There will be other developers working on innovative and user-friendly mobile applications.

Your business plan should encompass an extensive market study that examines your competitors' characteristics, strengths, and weaknesses.

Address their weaknesses (such as inefficient app development processes, lack of user testing, or poor app performance).

Why should you focus on these elements? Well, these weaknesses can hinder the success of mobile app development projects. By addressing these aspects, you can offer innovative and user-friendly app designs, provide efficient and reliable app development and testing processes, and deliver excellent customer support, positioning your mobile app development project as a trusted and preferred choice for businesses and individuals seeking high-quality and functional mobile applications.

It's what we call competitive advantages—building them is key to standing out in the market.

Here are some examples of competitive advantages for an app: user-friendly interface, innovative features, regular updates and improvements.

How to draft a SWOT analysis for an app?

A SWOT analysis can help identify potential strengths, weaknesses, opportunities, and threats that can inform the development of a successful mobile app.

As you can guess, there is indeed a completed and editable SWOT matrix in our business plan for a mobile app

The strengths for a mobile app development project

When we talk about the "S" in SWOT, we mean Strengths, which are the project's positive attributes or advantages.

For a mobile app development project, possible strengths could include a user-friendly interface, comprehensive testing, scalability, and a secure back-end system.

The weaknesses for a mobile app development project

The "W" stands for Weaknesses, referring to the areas or aspects of the project that need to be addressed.

In the case of a mobile app development project, potential weaknesses could include an inexperienced development team, lack of proper project management, and poor quality assurance processes.

The opportunities for a mobile app development project

O represents Opportunities in SWOT, referring to the external factors or conditions that can create opportunities for the project's advancement.

In the case of a mobile app development project, potential opportunities include creating a social media app, a productivity app, a gaming app, and a shopping app.

The threats for a mobile app development project

When we mention the "T" in SWOT, we're referring to Threats, which are the external risks or negative factors that can impact the project's performance.

How to craft a marketing strategy for an app?

A marketing strategy plays a pivotal role in a business plan as it defines how a business will entice customers and generate sales.

An app can attract users by implementing a well-crafted marketing strategy that showcases its unique features, user-friendly interface, and how it solves a specific problem or meets a particular need.

Users won't choose your app without effective marketing; highlighting its features, usability, and benefits is necessary.

Have you explored marketing approaches to attract customers to your app? Consider optimizing your app store presence, running targeted advertising campaigns to reach your target audience, and utilizing social media platforms to engage with users and receive feedback.

No worries if you don't know anything about marketing and communication.

How to build a 3-year financial plan for an app?

A solid business plan must include detailed financial information such as projected income, expenses, cash flow, and balance sheets.

When creating your business plan, you must include anticipated revenue figures for your mobile app development project.

To earn the trust and confidence of potential investors, it's crucial to have revenue projections in your business plan that are based on believable and well-founded assumptions.

Our financial plan for a mobile app is straightforward and equipped with automated checks, enabling you to validate and adjust your assumptions easily. This way, we make sure you're building solid financial projections.

It goes without saying that you'll have to develop a provisional budget for your mobile app development project. Pay attention to every expense and don't leave any out (our financial plan includes a complete list for your convenience).

The break-even analysis is central in the financial plan as it will tell you whether your mobile app development project will generate profits or not.

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Step-by-Step Visual Guide to Mobile App Planning

Have a promising idea for an app on your mind? Great! That’s 20% of what you need to do to create a thriving product, already done!

Next comes the harder part of it, where you actually have to turn your idea into something that works.

We are about to dig into a visual strategy that could help you speed up your app development process. Read on to find out how to plan an app using easy-to-use visualization tools.

Goals for the App

Who is your target audience, brainstorm solutions, draw user flows, architecture diagrams, your app vs. your competitor’s app, outline your campaign process, putting it all together, working together, now you know how to plan an app. are you ready to plan yours, define the specifications.

There are a few specifications you need to define before you go ahead and develop your app.

These specifications come under your business plan – which documents what you want to do and how you plan to do it.

Check out how to visually improve your business plan here .

During the mobile app planning process, the goals you set will help you decide which features to add and how you should develop and design your mobile app.

Now, goals you set may vary from what you want your app to do to how you will market it to people. It is important to sit down and define what these are. Ask yourself

• What is the purpose of your app?
• How will it help simplify the lives of its users?
• How will it help solve the problems of its users?
• How do you plan to market it to your target audience?

Answers to these questions will help you outline the goals you need to focus on. And once you agree on them, prioritize your goals so you’d know where to start.

Tip: Usually it’s a good idea to keep your goals to 1-2 at max so that your app is focused and easy to use.

Understanding your target audience is vital to the development of your app.

Among information such as age, gender, career, location and other quantitative data, you should also learn about your user’s requirements, challenges, needs, and responsibilities.

Other qualitative information you should have a record of are the technologies your users use, what platforms (Android/ iOS) they are familiar with, what app functionalities they prefer etc.

For example, using a Venn diagram you can identify what app features you should prioritize given the different types of customers you would attract.

Now that you know who your target audience is and what problems they have, it’s time to figure out how to use your app to solve those problems.

This calls for brainstorming for ideas with your team. To facilitate the session, you could use a visual tool like mind maps .  What’s special about mind maps is that it increases productivity by helping you better structure or organize a free flow of ideas.

A completed mind map drawn around a single topic – in this case, the issue your user is facing – will give you a quick overview of how you should approach the situation and make quick decisions.

Tip: Color code – use different colors to represent each of your main branches – your mind maps to organize ideas better.

To determine which features to add to your app, you need to know how users are going to go through it. Is it a registered user who wants to edit information on her account, or is it a new user who wants to create an account?

All kinds of interactions that a user will have with your app can be visualized through use case diagrams – which are basically used to describe what a system does.

It’s the easiest way to convey to the developer what app features need to be focused on and show to your stakeholders what problems you are trying to solve.

Or you can draw some Flowcharts to explain how a user gets something done via the app. This will really help you zero in on how the app is supposed to work.

Start Sketching Your App

Now that you have identified how different users may interact with your app, it’s time to flesh it out. This means, turning your idea into pictures which will be converted into navigable screens during the final stage.

This is where you get to decide how many screens there will be and how each will look like. And putting them in a logical manner will help you get the idea as to how it will work.

Most apps will have some sort of data they have to capture and use. A great way to visually break it down is to use an  Entity Relationship (ER) Diagram. This will allow you to identify the key things you want to capture and how they are related to each other.

ER Diagrams are a really simple tool to do this even if it may sound daunting to use at first.

Based on your user flows and data needs identified earlier, it’s time to define how the app looks and works .

Wireframes are line sketches of the interface of your app. They show how it should work without really bothering about colors, placement, and other styling details. At this stage, it’s more about the functionality vs. styling.

Tip: Link the wireframes together via button clicks to show the navigation experience within the app.

When describing how your app works to outsiders such as stakeholders, you can use architecture diagrams like block diagrams or network diagram (example below).  They simplify complex processes that a non-tech savvy person might find confusing.

Plan Your Promotional Strategy

How many users you attract to your app depends on how you promote it.

Before you plan your strategy, you need to figure out where you are at compared to your competitors. This means analyzing the strengths and weaknesses of your app against that of your competitors, and opportunities and threats that you might have to face in the market.

A simple SWOT analysis will help you get a quick overview of these factors.

SWOT analysis to plan your promotional or marketing campaign step-by-step. Get the input of your marketing team as well.

And if you initially want to brainstorm for new ideas, use a mind map to generate promotional campaign ideas .

As you can see, there are a series of aspects that go into creating an app. A great idea is to link these Flowcharts , Mind maps , ER Diagrams and wireframes together in a sensible fashion. This way anyone can really walk someone through the entire app concept and know exactly how things are going to work.

We guarantee you that this clarity will save you a large chunk of money and time when it comes to actual mobile app development.

Building an app is usually not a single person’s job. You’ll have your developers, potential clients/customers, partners all wanting to have a say in how things should work and be done.

Using real-time collaboration when you are on a conference call or even in the same room to update and modify the diagrams as you make decisions is a great way to make sure that everyone is on the same page.

If you are using Creately , you can also use offline commenting so that you can have pointed discussions on various parts of your mind-map, wireframe or flowchart easily with everyone in your team.

Visualization makes communication easier, whether it is between you and your development team or your stakeholders.

As they simplify complex processes, help organize and communicate ideas, visual tools like these make planning an app -well – a piece of cake!

Join over thousands of organizations that use Creately to brainstorm, plan, analyze, and execute their projects successfully.

FAQs on Mobile App Planning

• Clarifies the purpose and goals of the app, ensuring it meets user needs and aligns with business objectives.
• Takes a user-centric approach by understanding the target audience, their preferences, and behaviors.
• Efficiently allocates resources, estimating budget, time, and development requirements.
• Mitigates risks by identifying and addressing potential challenges in advance.
• Facilitates a seamless development process with a structured roadmap and improved collaboration.
• Enhances user experience through well-planned UX and UI design.
• Considers scalability and future-proofing to accommodate growth and expansion.
• Optimizes cost and time by defining scope, prioritizing features, and streamlining workflows.
• Aligns the app with business goals, evaluating its impact on revenue, customer engagement, and brand awareness.
• Provides a competitive advantage by conducting market research and developing unique features or value propositions.
• Inadequate market research, leading to a lack of understanding of target audience needs and competition.
• Unclear objectives and goals, resulting in a lack of direction and purpose for the app.
• Poor user understanding, neglecting to consider user preferences and pain points.
• Feature overload, including too many features that can lead to a cluttered and confusing user experience.
• Ineffective planning and scope creep, causing delays, increased costs, and compromised user experience.
• Ignoring platform considerations, leading to inconsistent user experiences across different platforms.
• Poor UX/UI design, resulting in confusing navigation and unattractive visuals.
• Insufficient testing and quality assurance, leading to bugs and poor performance.
• Lack of analytics and metrics, missing out on valuable insights for optimization.
• Neglecting post-launch support and updates, hindering user satisfaction and app growth.
• Product manager: Defines app vision, sets goals, and coordinates development process.
• UI/UX designer: Creates intuitive and visually appealing user interface and experience.
• Mobile app developer: Implements app functionality using programming languages.
• Backend developer: Builds server-side infrastructure, handles data storage and integration.
• QA engineer: Tests app for functionality, usability, and performance.
• Project manager: Manages timelines, resources, and communication.
• Database administrator: Manages databases, ensures data integrity and security.
• DevOps engineer: Handles app deployment and CI/CD processes.
• Security specialist: Ensures app security and data protection.
• Marketing specialist: Develops marketing strategy for app launch and user acquisition.

More Related Articles

Amanda Athuraliya is the communication specialist/content writer at Creately, online diagramming and collaboration tool. She is an avid reader, a budding writer and a passionate researcher who loves to write about all kinds of topics.

Mobile and Web App Business Plan Template

Introducing our free mobile app business template! Streamline your app development process with this easy-to-use template designed for entrepreneurs and startups. From market research to revenue projections, our template includes all the essential components for crafting a successful mobile app business plan. Download it now and get started on the path to app development success!

Download the template today!

The world is in the midst of a mobile revolution, and mobile apps have become an integral part of our daily lives. With the growing popularity of mobile devices, developing a mobile app has become a lucrative business opportunity for entrepreneurs and startups. However, building a mobile app from scratch can be a daunting task. That's why we're excited to offer our free mobile app business template, designed to make the app development process simpler and more efficient.

Features of the App Business Plan Template

Our mobile app business template includes all the essential components for crafting a successful mobile app business plan. Here are some of its key features:

• Market Research - Before developing an app, it's important to conduct market research to identify the needs of your target audience, understand your competitors, and assess the demand for your app. Our template includes a comprehensive market research section to help you conduct a thorough analysis of the app market.
• Business Model - Choosing the right business model is crucial to the success of your mobile app. Our template offers a variety of business models to choose from, including freemium, subscription, and in-app purchases. We'll guide you through each option and help you decide which one is best for your app.
• Revenue Projections - Estimating the revenue potential of your app is a key step in the planning process. Our template includes a revenue projections section that helps you forecast your revenue streams and expenses, so you can make informed decisions about your app development strategy.
• Marketing Plan - Once your app is developed, you need to get the word out and attract users. Our template includes a detailed marketing plan section to help you create a comprehensive strategy that covers all the essential marketing channels, such as social media, email marketing, and search engine optimization.

Benefits of Using Our Template

Using our mobile app business template provides a range of benefits, including:

• Saves Time and Money - Developing a mobile app is a time-consuming and costly process. With our template, you can save time and money by streamlining the planning process and creating a more efficient development strategy.
• Provides Clarity and Focus - Our template provides a clear roadmap for app development, helping you focus on the essential components and avoid unnecessary distractions. This helps you stay on track and achieve your goals more effectively.
• Increases Your Chances of Success - A well-planned and executed mobile app has a greater chance of success in the market. Our template provides you with the tools and resources you need to develop a successful mobile app business plan and increase your chances of success.

Our free mobile app business template is an essential resource for entrepreneurs and startups looking to develop a successful mobile app. With its comprehensive market research, business models, revenue projections, and marketing plan sections, you can create a detailed plan that sets your app up for success. Download our template now and start your journey to app development success!

Mobile App Business Plan Frequently Asked Questions

Q: why do i need a mobile app business plan.

A: A mobile app business plan is essential to the success of your app because it helps you identify your target audience, understand the market, and develop a clear strategy for success. Without a plan, you risk wasting time and resources on an app that may not meet your goals or resonate with your target audience.

Q: What are the essential components of a mobile app business plan?

A: A mobile app business plan should include market research, a business model, financial projections, and a marketing plan. These components provide a comprehensive roadmap for app development, including identifying your target audience, assessing the demand for your app, estimating your revenue potential, and creating a strategy for attracting and retaining users.

Q: How can a mobile app business plan help me secure funding for my app?

A: Investors and lenders are more likely to fund your app if you have a well-crafted mobile app business plan. A comprehensive plan demonstrates that you have a clear understanding of the market, a viable business model, and a strategy for generating revenue. By showing your plan to potential investors, you can demonstrate that you have a solid plan for success and increase your chances of securing funding. Having strong financial projections are key to securing funding. Use a mobile app financial projection template can make this process easy.

We Know a Good Business Plan When we See One

Collectively, our team has reviewed thousands of business plans and has nearly 20 years of experience making SBA loans. We've also helped more than 50,000 businesses create financial projections across many industries and geographies.

Adam served as Executive Director for a SBA microlender in Indiana for over 10 years helping businesses and reviewing thousands of business plans.

Grace has built hundreds of custom financial models for businesses as well as our projection templates which are used by thousands of businesses every year.

Kyle served as an SBA loan officer for 7 years working directly with startups and business owners to review their business plans, projections, and prepare their loan package.

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How To Write A Mobile App Business Plan For A Startup?

Idea, planning, and execution. These three things are essential for any project to succeed. 

Yet, many business owners would forego the planning stage, believing that they should get started right away and create something after that. Trust us when we say that, for the most part, such kind of thinking won’t help you succeed. “By failing to prepare, you are preparing to fail”.

Writing a mobile app business plan can help you understand everything you now have, how the pieces of the project should fit together to form a roadmap, and what extra has to be done to get the best outcome.

As a leading software development company  we understand how to create a mobile app business plan after years of working closely with our clients and partners. Here you can find a comprehensive guide on developing a company strategy that will effect overall success.

Mobile App Business Plan

Why a mobile app business plan is crucial for your company

Several studies support the importance of having a well-thought-out business plan for organizations at various phases of their business journeys. And a plan plays an even more important role for startup.

According to one survey of 3,000 business owners from various professions, those who had business plans were nearly twice as likely to succeed as those who did not. Furthermore, such strategic-planning businesses were more successful in acquiring investment or obtaining loans.

Attract business interest and investments

Most of the time, you will need to get funding for your new company.

You must choose between startup co-founders or investors depending on the sort of company strategy you wish to employ. You may need to attract both in certain cases. An application business plan is the only method to complete this work swiftly and move on to more crucial milestones in your company’s growth.

Lower risks

According to recent studies, establishing a business plan can help you get closer to your goals and desires. Entrepreneurs who have detailed business plans are more likely to grow their firm and improve their income than those who do not.

Planning is an easy approach for securing loans and investments.

Stay on track

It’s difficult not to overlook the vital things in a world full with distractions. As a business entrepreneur, you will confront new problems and challenges every day. However, a series of points on your blueprint will serve as a fast reminder of why you started it and where it should lead you.

Prepare thoroughly

Writing a plan can help you learn more about the industry you want to enter. This will help you clarify your goals, identify priorities, and create more accurate forecasts. It’s your chance to expose possible risks and establish your own voice in the business.

Execute effective management

Being a good manager takes skill. A mobile app business plan is your instrument for building a masterpiece. It gives a view of key tasks, allowing you to assign each one to the appropriate individual.

Is a business plan for a mobile app different from one for other software?

Mobile applications, websites, and other software solutions all have individual advantages and disadvantages. Their marketing strategies, monetization plans, and feature sets differ greatly from one another. Because of this, the business strategy for various solutions will also vary.

A mobile app company’s business strategy may resemble the format of a traditional software development business plan. Any document that represents the company and its products shall, nevertheless, have a distinctive content. It makes sense since every project is different, has specific goals, and an exclusive target audience.

Components of a mobile app business plan

Now that you are aware of the need of a business plan for any enterprise, let’s learn more about what it entails. A business strategy often consists of:

• A list of bullet points outlining your goals.
• A few facts that provide accurate data about the sector you intend to enter.
• Tables with clearly defined procedures and tactics you want to use to accomplish your objectives.

Is the product viable? Does it have the capacity to provide users fresh experiences while offering its creators with quantifiable advantages? These are the two main concerns your app business plan has to address. The inclusion of the following components will guarantee a successful outcome.

Section 1. Executive summary

Let’s start with the executive summary.

It is the first and most important section of your mobile app business plan since it will be the first thing an investor reads. Without going into specifics about how your product functions, the executive summary should be clear and concise. You must discuss the market scenario, your target market, and the specific challenge that your application may resolve in this section.

To set your business apart from the competition, make your proposal unique. In other words, create a unique value proposition (UVP) . Use your imagination to visualize your executive summary as a teaser for a movie, with your investor as the audience. How can you make a teaser that would entice your investors to see the entire film?

Define your objectives . The goals outlined in this section have to be based on your business analysis. Investors will assess your goals to see whether they meet their needs. Additionally, you must decide what your exit plan’s ultimate objective is. Create a list of your company’s funding requirements as well as how the money will be used to accelerate business expansion. Making sure there is a high degree of transparency at every level – this is one of the key components of your startup business plan for your mobile app.

Make your document compelling . To do this, ensure that the concept and objectives of your product are clear and consistent across the entire plan. Give the reader (your investors) accurate information and attainable goals for your project. Of course, don’t forget to check that the names of your team members and the person who wrote the business plan and executive summary are used consistently throughout the document.

Section 2. Business description

This is where you may give a brief overview of your business, starting with some general facts before moving on to your proposed mobile app. Your company’s values, goal, product vision, and key success factors should all be covered.

This is the second most critical part following the executive summary. You must also entice the investors with this section. For example, Y Combinator, a technology startup accelerator, believes raising funds to be by far the simplest part whereas working on ideas is the most important aspect of any company’s success. Before presenting newly-formed ideas to investors, Y-Combinator-like businesses frequently require that a complete business plan be prepared.

Company overview

This part should provide investors with comprehensive information about your startup, including its legal name, headquarters location, and organizational structure (LLC, corporation, etc.). Be sure to provide further details about your team, such as the number of employees, their names, positions, etc.

The mission statement of your organization should specify its goals as well as the guiding principles that drive it. After defining your objective, highlight the key issues and the solutions your business may provide.

Company history

Before presenting any business proposal, outline your company’s background, how your team got together, and how you came up with your idea. Furthermore, you may discuss the major stages of your company’s development as well as the experience that preceding the product introduction.

Team introduction

The app startup business plan should include information about your team so that you can get to know the reader better. You may convert a simple description into a virtual introduction meeting by including a few lines about the company’s expertise.

Inform the investors about the management team. Give details about the engineering crew members. Names, roles, experience, and even interests should be mentioned. When writing your app business plan, make the audience feel as though they know the folks you’re talking about.

Another useful approach is to include information about your advisory team. These professionals assist you in making decisions, and their names might make a difference in the local market.

Section 3. Market analysis

The essential aspect in the implementation of your app idea should be market information. This is a vital part of every company plan. You must be aware of the situation at the moment in your industry, as well as the elements that influence it, have up-to-date information, and be able to develop a short-term forecasts.

To perform market research, follow these steps:

• Examining the current economic landscape
• Creating a list of market research criteria
• Identifying your total available market (TAM), service available market (SAM), and service obtainable market (SOM)
• Acknowledging your direct competitors
• Analyzing your target audience and determining the cost per acquisition (CPA)

Remember that no market research in the mobile app sector can be undertaken without first evaluating Google Play and Apple App Store rankings for top paid, free, and top-grossing applications, as well as user reviews.

Market predictions

Forecasting is an important part of creating a business strategy for the reality of an app development company.

Forecasts from widely recognized research organizations such as Nielsen and Forrester can be valuable when building any business plan, whether it is a mobile app business plan for app development, a website, or a typical software startup business plan. To generate accurate market predictions, you can:

• Provide statistics about the growth of businesses that offer solutions similar to your mobile app.
• Include data on the amount of money invested in similar businesses (platforms such as Crunchbase can help with this).
• Add a few forecasts about the target customer’s behavior to your company plan.

The ultimate purpose of this research is to determine whether your product has a real market, whether there are enough consumers in the market, and, therefore, whether those customers are willing to shell out money for your product.

Business analysis

Here, you will access how your business will perform in the targeted market. There are several approaches to present this to your investors, but one of the easiest ways is using SWOT analysis. A SWOT analysis is a strategic planning technique that allows you to offer a structured overview of your company’s current state. The reasons? It is simple enough to visualize, and it covers the four perspectives (strengths, weaknesses, opportunities, threats) that your audience is definitely interested in.

You should not try to hide your business’s weaknesses. It is normal for a company to have some aspects they are not excellent at. By knowing your weaknesses and risks, you know the aspects that need to be improved for a better performance. 

Section 4. Marketing strategy

An app marketing strategy is a link that allows your product to reach your clients. You must persuade investors that you have such a bridge. This is a critical component of the mobile app strategy. When creating a business strategy, you must specify which approaches you planned on using for application promotion.

Identify the marketing channels

Social media marketing is now often regarded as the most successful method of promoting a product. But will it be sufficient to advertise your app? Return to the research step and determine how many prospective people you can meet on Facebook, Instagram, or Twitter. Provide readers with information on which channels are likely to be the most profitable.

A landing page for your app is another powerful approach to reach out to the target market. Make an appealing mockup. Include the name of the application, a description of its features, promotional videos, and so on.

Decide on key metrics

Initially, your success will be determined by the number of installs or conversion rates, not by financial revenue. Decide which metrics will be useful in evaluating your project.

Estimate marketing budget

Based on the market analysis described in the preceding part of the business plan, you may estimate the cost of marketing services. Understanding the marketing budget is critical for all parties, including you, the app owner, investors, and other stakeholders.

Think about product growth

Growing the user base strategy varies depending on the type of app startup, as does the business plan for entering different sectors. If you’re still developing a business plan, consider how you’ll build your user base ahead of time. This will greatly help you with future product development.

Select product launch type

In your company plan, be sure to include the type of product launch. There are two sorts of launches: hard and soft. The first is to provide a finished product to your whole target audience. A soft launch is when you release your app’s MVP or full version to a small group of users.

Section 5. Financing

To properly lay out this section of your business plan, you must first fully understand the type of funding you will need to proceed forward. Furthermore, the objective is to describe it as clearly as possible so that a potential investor gets it.

The financial model typically comprises a three- to five-year prediction of all key forecast indicators, such as profit and loss, cash flow, balance sheets, start tables, unit economics calculation, and expected revenues and expenses for your app. To establish the real cost and distribution of assets in the best way, your financial record must have the following components, each with a clear explanation.

Business expenses/funding required

Inform your investors of the estimated expenses. We recommend making fair estimations and allowing for additional costs because these figures may change.

• One-time expenses (for example, relocation fees, office space costs, equipment, servers, software, and licensing
• Fixed expenses are those that do not fluctuate regardless of whether you build anything or not (for example, rent, insurance, lease payments, and fixed salary).
• Variable costs: expenses that vary with production volume (for example, labor).

Monetization strategy

It is another topic that you must address in your plan. By displaying your monetization tactics, you will show your investors and other stakeholders that your project will be successful and deliver a return on investment with favorable unit economics. It will also assist you in determining whether your startup will reach its break-even point.

The most popular mobile app monetization models are:

• Advertising
• In-app purchases
• Pay per download
• Subscription
• Sponsorship/Partnership

Writing the first page of a mobile app business plan for a mobile app idea is the most daunting part of the process. In that situation, many people scramble in search of a free copy of another company’s business plan. They mistakenly think that using someone else’s business plan will help them accomplish their objectives. But it won’t, not at all!

A company strategy cannot be copied. It must be unique and express your passion and zeal for achieving your idea. A strong business plan should show how financially desirable and feasible your company is. The higher the viability, the greater the investment prospect.

What Is A Mobile App Business Plan?

A mobile app business plan is a strategy for launching and/or expanding your mobile app business. It defines your business concept, identifies your target clients, shows your marketing approach, and details your financial projections, among other things.

How To Write A Mobile App Business Plan?

An executive summary, firm description, goods & services, strategy planning, management & optimization, and a financial statement are all elements of a mobile app business plan.

What Are The Steps To Write A Business Plan For A Mobile App?

Finding a unique selling proposition, focusing on a user persona, and employing the appropriate marketing channels make up the three processes.

How Long Will It Take To Make A Business Plan For An App?

A effective business plan may be written in two to eight weeks, based on our experience.

Can An Application Be Developed Without A Business Plan?

It is indeed possible. A business strategy for apps, however, entails more than merely outlining your concept. It also includes a thorough strategy, financial planning, and market research. It could improve the prospects for business success.

Savvycom – Your Trusted Tech Partner!

With over 25 years of experience, Savvycom has used digital technology to help businesses grow in a variety of industries. We offer high-quality software development services , including technology consulting and end-to-end consulting, to help you optimize your business potential.

Savvycom is what you need. Contact us now for more consultation:

• Phone: +84 24 3202 9222
• Hotline: +84 352 287 866 (VN)
• Email: [email protected]

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Beyond the Pitch Deck: Crafting a Compelling Mobile App Business Plan for Your Startup

Summary: As the technology evolved, an array of business opportunities got unlocked; icing to the cake are multiple startup funding options that encouraged younger entrepreneurs to venture into several business startups. One of the most lucrative startup businesses today is the mobile app business, wherein you own a mobile app for a specific niche or service and enjoy money-spinning returns. In this guide, we shall talk about crafting a compelling business plan for your startup app. What are the core elements, how to write a mobile app business plan, what could be a marketing plan for your mobile app startup business, and many other essential factors.

Mobile applications have become a part of anyone’s personal and professional life. The changing habits of millennials about shopping online and ordering services through mobile phones have pushed service and product industries to have mobile applications for their convenience. Statista, a research giant portal, quotes several statistics about mobile applications  that can impress anyone to think of mobile app business in this digital era:

• Global mobile application downloads in 2023 reached 257 billion
• Average consumer spending on mobile apps in Q3 2023 reached USD 5.05
• In Q4 2023, the total value of global consumer spending on mobile apps touched a whopping figure of USD 70 billion  worldwide
• The mobile applications are projected to cross USD 613 billion in revenues  by 2025

These statistics are alluring enough to draw anyone’s eyeballs to have a mobile app for their business. So, now you need the answer to what to do if you have an app idea?  Of course, based on your funding requirements, you need to think of the next step. If you have made up your mind to raise some funds, you need a foolproof business plan for startup app.

Table Of Content

What is a mobile app business plan?

Why is a mobile app startup business plan essential, core elements of a business plan for a mobile app, how to write a mobile app business plan, tips to write a successful mobile app business plan.

Let us delve deeper into it.

A business plan is a document that outlines the purpose and features of your mobile app. Also, it includes the targeted audience/user/customers and revenue model along with a strategic marketing plan for your app. A mobile app business plan for startups helps define the idea clearly and communicate it clearly with potential investors and partners.

It is an essential document for startup mobile app funding  that can make a difference in helping entrepreneurs get the desired funds. The better planned and described the whole document is, the better the investors will receive it.

First thing first: for a perfect mobile app startup business plan, you should mind the following factors:

• A clear vision and goals for your app : What problems does your app solve? Who and where are your users? What are the benefits of using your mobile app? What are the measurement criteria for your app’s success?
• A well-researched and realistic business plan : How will you execute the mobile app development, and how will you launch and maintain your app? How much does mobile app development cost? What is your app monetization plan? What could be the risks and challenges of your mobile app business?
• Mistakes to avoid when creating a business plan : A business plan for your mobile app should not have unrealistic assumptions or projections. You should not ignore the competitors or the latest market trends. Also, do not overlook any legal, regulatory, or ethical issues. Lastly, you should test and validate the app idea with real users to avoid failures.

As an entrepreneur, you may go through our comprehensive mobile app development guide  to get a fair idea of how a mobile app is built based on the requirements provided.

While mobile app businesses can get you an easy flow of revenue, it is only when the product is successful. Despite the abundance of mobile phone users, more than 90% of mobile applications fail to achieve their revenue goals for one reason or another.

Let’s first look at the importance of a plan for a startup app:

• Guides Strategic Direction:  A business plan outlines the vision, goals, and target market for the mobile app, providing a roadmap for success.
• Defines Revenue Model:  It clarifies how the app will generate revenue, which is crucial for sustainability and growth.
• Shapes Marketing Strategy:  A well-defined plan helps in crafting an effective marketing strategy to reach and engage the target audience.
• Establishes Competitive Advantage:  Identifying strengths and unique selling points helps differentiate the app from competitors.
• Attracts Funding:  A comprehensive business plan increases investor confidence and attracts diverse funding sources.
• Mitigates Risks:  By outlining potential challenges and strategies to overcome them it minimizes the risk of failure.
• Builds Confidence:  Having a solid plan instils confidence in investors, partners, and stakeholders, increasing the likelihood of success.

Having a business plan for mobile app startup proves to be an essential strategy for your startup success as it helps you define several vital aspects of your app:

• App target market,
• App revenue model
• App marketing strategy
• App competitive advantage

As entrepreneurs, it is always a better approach to have diversified funding sources  for your startup and to present your idea to more than one potential investor or fund provider ; your mobile app business plan should be pitch-perfect.

If you know how to write a business plan for a mobile app, you will be able to attract multiple fund providers and target audience/customers who share the same vision as yours because, with such a plan, they would believe in your product. It is also essential to know about the top mobile app funding trends . Without a proper business plan for a mobile app, you might put your time, money, and resources at risk.

Interested in building an app for your Startup business?

A business plan for a mobile app is a document that outlines the goals, strategies, and feasibility of developing and launching a new app in the market. It helps to communicate your app’s value proposition and competitive advantage to stakeholders and potential investors.

A business plan for a mobile app typically includes the following core elements:

• Executive summary

Market Analysis

Product overview, company overview, marketing plan, financial plan.

• Risk Mitigation Strategies (RMS)

Writing a business plan for a mobile app requires you to follow specific steps with logic and emotions. The purpose is to convince the reader (investors) and give them confidence in your app business.

Executive Summary

This is a brief overview that covers the main points of the mobile app startup business plan. It may include the concerns that the app can address, the targeted market, revenue model/funding requirements, and the unique features or benefits of the product.

An executive summary in a mobile app business plan is simply an outline or a glance at your business venture. The reader should get a glimpse just by reading the executive summary. The executive summary can be further divided into three categories: summary, UVP, and target or objectives.

• Summary : The summary is a concise and compelling text that showcases a startup business plan to grab the attention of readers and provoke them to read ahead.
• UVP : The UVP (Unique Value Proposition) is the core message of your app business plan. UVP makes the app different from the rest and mentions why target users should opt for this app over other alternatives.
• Targets/Objectives : The targets/objectives mention the specific and measurable results you want to achieve through the app business in a specific timeframe. Whatever you mention should align with the UVP and particular market needs.

One of the critical aspects of crafting a compelling business plan for a startup app is to find out your targeted users and competitors with their unique value proposition. This helps you understand your potential customer’s needs and preferences.

Here are some steps that help you conduct market research and analysis for your app business with an example:

• Define the purpose : Identifying the problem or opportunity that your app business aims to solve or address will help you narrow down the scope and concentrate on a particular segment.
• Gather enough data : Researching to gather existing data and information about a specific industry and its market size to understand trends and customer behavior will overall help you understand competitors and their success.
• Ask the end-users : The best way to have a sure-shot startup business plan is to collect data and feedback right from the targeted customers or end users through tools and methods like surveys, interviews, focus groups, user testing, and polls.
• User segmentation : After gathering enough data, you should segment your target audience based on criteria such as demographics, psychographics, behavior, and geography.
• Market forecasts : The market forecast focuses on studying factors such as market size and demand as per the latest trends. The forecast shall also help you understand customer lifetime value (CLV).
• SWOT analysis:  Conducting a SWOT analysis is one of the mandatory steps of a business plan for a mobile app. It evaluates the strengths, weaknesses, opportunities, and threats for your app business. Through SWOT, you identify competitive advantages and challenges as well as any external factors that might affect your business success.

You can mention the app’s functionality, design, and user interface, along with probable user experience and technical specifications. The product overview also explains how the application is different from the competitors in the market by mentioning the value it could add to the users.

A product description is a brief summary of your product’s (a mobile app’s) main features, benefits, and monetization strategy. The reader or the investor needs to understand the product to build trust in the business plan. The product overview should include:

• App’s core functionality and purpose : You should mention the app’s main functions and why the app is built (the primary cause).
• App’s benefits and value for your users : The App’s benefits include showing what users will get with the app. For instance, for a fitness app, the user must be made aware of how the app will benefit them, keeping their mental and physical status optimum.
• App’s monetization model as per app’s goals and market : To investors and you, business does matter. How the app business works, earns money and sustains the tough market should be reflected in this overview.

One of the most essential factors in a mobile app business plan is a summary of the company by mentioning its background, mission, and vision. The organization overview introduces the team members and their roles, along with technical/marketing skills and qualifications.

The brand identity matters, and therefore, it is essential to include a thorough detail of the firm, agency, organization, or company. Startups in mobile app businesses should clearly define their company’s details.

• Overview : Mention the company, its origin, whose brainchild it is and what its vision and mission are.
• Team and advisory board : You should mention the board of directors, MDs, CEO, and other authorities as a team and advisory board in detail.
• Timelines and milestones : Defining the startup app business plan in phases such as timelines and a breakdown of short-term goals and long-term goals, will give readers a fair idea about how the app business shall grow and achieve its target.

Another aspect of having a mobile app startup business plan is to include a comprehensive analysis of the market opportunity by showcasing research on customer segments, competitors, and the latest trends for the app.

The detailed plan for marketing ideally outlines the marketing strategy and tactics through various social media channels as per specific budget and metrics to promote and distribute the app to the targeted customers.

Companies need proper marketing to sustain the competition. Marketing helps companies reach the targeted customers and inform them about the products and services while convincing them to buy. Mobile app businesses also focus on engaging and retaining end users for success.

• Outline objectives, strategies, and tactics : Objectives are the goals you want to achieve with your app business, like an increase in downloads and user retention with enhanced revenue. Strategies include a plan to target a specific market segment and create a unique value proposition. Tactics refers to specific actions that are used to execute a strategy.
• Promotion of the app : You need to identify your targeted users and their needs, find them, and communicate the benefits and features of your app compellingly and engagingly.
• Marketing performance metrics : For your mobile app startup business plan, you need to define key performance indicators (KPIs such as number of downloads/installs) that go with your vision and check them regularly.

A financial plan is the backbone of a business plan for a mobile app. It is a projection of the income statement and cash flow statement stated through a balance sheet and breakeven analysis. The plan preferably includes the assumptions along with sources and proper utilization of funds to develop and launch the application.

A financial plan is an essential part of a mobile app business plan because it helps you estimate your product’s revenue, expenses, and profitability. The plan enables you to evaluate the feasibility and viability of the app business idea; additionally, you pitch it to attract fund providers.

Here are some steps to create a financial plan for your app:

• Choose a revenue model : Choose from different methods to monetize your app. It could be an in-app purchase, subscription, advertisement, or freemium model.
• Project your app’s revenue : You should estimate how many users will download and use your app, how much they will spend or generate in revenue, and how long they will stay engaged with your app.
• Outline your app’s expenses and budget : In this, counting the costs of mobile app development , deployment, and maintenance of your app is considered. You may contact a mobile app development company for close-to-accurate estimation.
• Calculate your app’s profitability and breakeven point : Here, comparing your app’s revenue and expenses with market leaders to determine its profitability is mentioned. Also, it would be best if you represented how long it will take for your app business to reach the breakeven point.

Risk Mitigation Strategies

In a startup app business plan, RMS includes listing down the potential risks and challenges that may affect the success of the product and their remedies or precautions. The factors to include are possible technical glitches, legal issues, regulatory issues, market volatility, and operational issues.

Even if you have a well-thought-out startup business, many a times there is a chance that things might not work as properly as planned. For this reason, risk mitigation strategies  for startup apps are considered to be a critical aspect of a business plan.

This is to ensure that even if the startup may face some challenges, the entrepreneur is already prepared and thought about a way out. Some potential risks of mobile app startup business are:

Low user retention

Many users download apps but seldom use them. They are likely to uninstall them quickly. This affects the app’s revenue and growth potential.

Solution: Work on UI/UX. Conduct thorough research on peers – what they do and what their apps look like for retention.

High competition

The mobile app market is saturated with hundreds of similar or alternative apps as yours. This can make it hard for your startup app business to stand out and attract users.

Solution: Intense market research of trends and user expectations is needed. Come up with unique features and functionalities in your product.

Security breaches

Mobile apps store and transmit crucial data like personal information and payment details, which exposes them to cyberattacks or data leaks that harm users and the app’s reputation.

Solution: Spend a special budget on building multi-tier security measures and unbreakable digital walls.

Legal issues

Mobile apps have to comply with various laws and regulations, such as privacy, intellectual property, or taxation. This can create legal liabilities or fines if the app violates any of them.

Solution: Find a legal advisor who knows in and out of local and international mobile apps or digital trading. Get certificates/licenses. Spend a special budget on compliance. For example: HIPAA for medical apps.

Need help with business plan for your Startup App?

Let us glance at the entire process. Here is a quick look at what you need to do for the plan.

Closing thoughts on mobile app business plan

The conclusion of a mobile app startup business plan should summarize the main points of the document and highlight the value proposition of the app. The gist should also include a CTA (call to action) for the reader or investor so that they are invited to take action.

Once you have aced the funding dilemma, you need to keep up the good work going by knowing how to scale a startup .

Ready to build a mobile app to lead the market?

You must be thorough with how to write a mobile app business plan by now. So, you have an app idea and also know how to pitch your deck to investors and users. It is suggested that while making the pitch-perfect business plan for your mobile app, you should have a tech partner by your side to help you make the business plan foolproof.

We are a  renowned mobile app development company  that can help you draft the technical aspects and get you an estimated budget for your dream product.

Contact us now , and together, we can make your dream come true.

He is the Co-Founder and CEO of Prismetric . An enthusiastic entrepreneur, interested to discuss new app ideas, rich gadget tricks and trends, and admires signature tech business styles to readily embrace. He enjoys learning most modern app crafting methods, exploring smart technologies and passionate about writing his thoughts too. Inventions related to mobile and software technology inspire Ashish and he likes to inspire the like-minded community through the finesse of his work.

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How to Create the Best Business Plan for an App? Guide to a Business Plan App

Summary: The world has witnessed a great upsurge in the mobile app market. As per a report, the global mobile app market size was at USD 206.85 billion in 2022. And it is all set to increase at a CAGR of 13.8% till 2030. We all know that these and many other stats are right and effective.

On what basis are we so confident about? There is a major increase in the internet and the adaptability of online apps. So, now businesses tend to make calculative moves by developing mobile app business plans. Let’s have a look at how to write a good business plan for your mobile app.

Key Takeaway:-

• Such a business plan for the app will help you measure the risk factors beforehand.
• Steps to curate an app business plan are stated below to ensure a proper direction for your mobile app.
• Why should you opt for a mobile app plan? Ensure your futuristic success with a plan on hand prior to the SDLC.
• What good will such a business plan do? You will be able to figure out every necessary point in time & also get a good team to execute the plan.

Introduction

Anything well-planned always gives a better outcome than an unplanned thing.

Imagine the scenario in which you want to go on a trip.

In the first scenario, you have yet to plan the trip. You reach there and have to do a rekey of things. You will have to look for a nearby stay, have food, and have fun. Eventually, it did consume a lot of your time, money, and energy.

A planned trip with all the things right from the hotel to food and fun will help in a hassle-free holiday. Now you have travel apps and agents to go and get every booking document way before your trip.

So, while reading too, the first thought that came to your mind was a planned & well executed trip.

The same goes for apps. Plan it to win the online spectrum at the right time.  

In this competitive online space, who will not want a great curated business plan? Every startup or enterprise has to expand and grow to survive the online world.

Now, let’s directly chase the question.

Why Do You Need a Mobile App Business Plan?

• In general, the revenue in 2023 is over $935 billion. 
• 21% of millennials open an app 50+ times per day. 
• 49% open an app 11+ times each day. 
• A typical mobile user uses 30 apps per month and 10 apps per day.

All these mobile app statistics are alarming. To ace in the digital world, you have to strike hard with a business plan.

There are 100s of apps made on the same concept. Why will a user use your app? How will you lure them to stay for long? What are the other futuristic business ideas? Thus, you need a roadmap to discover your project phases and needs.

How will your mobile app startup succeed? From where will your app get funds? How will you survive in the later SDLC stages? All these things and many more can be noted in a mobile business plan app.

And most importantly, such advance plans always help to get to the user base.

What is the worth of a business plan? Know it from the best tycoon:-

Without a plan, even the most brilliant business can get lost. You need to have goals, create milestones, and have a strategy in place to set yourself up for success. – Yogi Berra .

Perks to Get an App Business Plan

• You need a strong business plan to transform your ideas into actions.
• A plan will always help you to improve. 
• It defines growth points and steps to expand in the future.
• You can raise funds by presenting it to the investors.

Now, without further due, let’s get into some exceptional steps to follow for your PRD.

How to Write a Successful Business Plan for Your Mobile App?

Pave a winning road with a business plan. It does not matter whether you are an SME, enterprise, or startup; every app idea will need a plan to flourish in the unknown online space. 

The key factors that you should know for a business plan are budget and investment returns on a timely basis. Apart from that, you have to provide maximum transparency to achieve each milestone in real-time. 

Let’s have a look at some of the intricate steps to follow when creating an app business plan.

8 Steps to Create a Good App Development Business Plan

#1 Executive Summary

As the name has, it is ‘summary’. We all know it means a precise & concise way to define one’s business; when you approach an investor, they do not have time to read every bit about you.

You need to jot down the essential details of your company and its offerings. 

What should be the overview?

• Make a unique proposal
• Create an excellent UVP
• Specify your goals
• Provide accurate documents

Your business plan must contain the current and expected market situation along with target customers. It should also have the crux of your app, i.e., what problem will it solve? But all the details are to be mentioned in a precise way.

#2 Introduce Your Firm

For a good plan, you need to start with your firm’s details and end with a mobile app idea. You have to show your investors your company’s mission, product vision, and other factors for your startup’s success. 

Describe Your Firm

Write the details of your startup. It should give a reader details like the company name, location, headquarters, team size, hierarchy, etc. The mission statement of your firm should specify its goals. Also, list the main problems and the likely answers your startup may provide.

Always ensure that your business plan is easy to read. And also, one should understand the mission of your firm from the very beginning of your plan.

Company History

Every investor is interested to check a firm’s background. How did your company come into existence? How did you come up with such an idea? What were the stages of your company’s development? How have you decided to launch your product? All these details will help you to win the trust of your fundraisers. 

Your Tech Team

Why will a third party take an interest in your venture? There are two reasons to believe you.

• Your app idea and its growth perspects.
• The team backing your app idea with their tech brains.

Whether you outsource app development or have an in-house team, you need to have a detailed description of the team members. From work expertise to company responsibilities, the business plan should consist of all of it.

#3 Marketing Analysis & Strategies

Details about your app idea’s market are very crucial. You have to keep a watch on the industry and consumer needs. Every factor, along with its impact and solution, has to be given into the plan. A forecast of your ideal situation is a must. Such details help to know your overall market knowledge and the analysis for the future.

What should be your intricate steps?

• Review the current business environment
• Define your research criteria
• Get to know your overall market, SAM, and SOM
• Know your rival
• Analyze your audience

Expert advice: One has to study Google Play Store and Apple App Store. You will easily come to know about who is at the top, who is paid more, and which apps are grossing well. Ensure that you get the nerves of every app in the store right. And prepare for the missing pieces in your app.

#4 Forecast Your Market Possibilities

Why should your mobile app business plan have such a market forecast? How will it help your market credibility? A market forecast always shows your app idea’s efficacy to grow in the later stages. And if you are someone with a startup app idea , then, of course, such a step is a must for you. 

Now, what are some of the reliable points to showcase in your plan?

• Describe the expansion of businesses.
• Include data about the amount of funds received by your firm. And who has invested in it so far?
• Add some forecasts about the behaviour of your target users.

Your goal is to look into a long term situation. Study and analyze deeply whether there is a real market for your product. Is there enough customer base? Will you be able to maintain money & funds in the future? All these factors do matter a lot. 

Being an IT professional in web and mobile app development , we know the importance of market forecasts. With every app idea before making our first move, we ensure to analyze every bit of the market. Thus, it gives our team of experts a proper picture of the current needs. And provides great insight to the project owner about the future.

#5 SWOT Analysis

Now, this is a well-known method to get the right analysis of your business. Every brain understands SWOT.

• Opportunity

Every business has a weakness; you cannot simply deny it. With SWOT, you will get all the loopholes in time. And can work on them to convert them into prospects. Such findings also represent a futuristic expansion for your business.

#6 Create a Marketing Campaign

How will anyone come to know about your app? Via Marketing. Obvious answer! One needs to be careful about how they present themselves to the world.

The market awaits eagerly about new entries. You need to focus and strike at the right time among the right audience. With so much of the online and offline world, you need to be on the right channel to meet your potential client. Let’s have a look at some examples:-

Create a Landing Page

A landing page is a trustworthy face for your brand. You need to showcase features, functionalities, and the motto of your online product on the page. Ensure that you use the logo and the name correctly. Also, to engage more audiences, you can integrate an explanatory video. 

Launch a Website & Blog

Today, the very first thing we all do is to check a brand, product, or service’s online presence. So, as we say, it has become a mandatory move to build a website and start to blog for a better SERP rank. You have to promote your app with keywords and all the other SEO rules to be among the untouched global audiences. 

It is a modern and trusted way of advertising your business.

Social Media Platforms

Of course, this is The Way to be among all kinds of age groups. Market yourself thoroughly on all the popular social media like Facebook, Instagram, Twitter, Threads, etc. It helps a lot as these have their in-house plans, which helps a product reach and market itself well in advance.

You have to put aside a budget only for social media. And look into the analytics of your page to improve on every online front. It is very easy to be in the public eye, but to catch their attention for seconds is the game to be aced. 

The Market as per Budget

Marketing is an integral part of creating an app business plan. You have to get an estimate to spend on these strategies. You have to keep a check on your money spent. And the response achieved to be on the right strategy and meet the end goals on time.

#7 Product Growth & Launch

Every app is different and varies in user base, too. So, the growth of every online business differs a lot. An ABC tactic that worked for XYZ product is not necessarily apt for your venture. To expand in the right direction, you need a good sense of the market. And attract apt audiences that tend to make a loyal user base in a short span.

Now, as far as the product launch is concerned, there are two kinds of launches. In every app development business plan, you will have to mention one of these types. 

• Full-fledged deployment: You deploy a full bloomed SDLC. The one with all the features, tech stacks, and other growth criteria.
• MVP model: This is a minimalistic version of your idea. The MVP app development contains much needed features and functionalities. It is the best way to explore and know the possibilities of growth from the user’s perspective. 

#8 Finances

The financial model has a three- to five-year outlook for all the key forecasted indicators, like:-

• Profit and loss
• Balance sheets
• Start tables
• Unit economics calculation
• Revenues and expenses 

These will help you get an actual cost & asset value. In the future, it will help to figure out budget ways. 

Now, the investor might ask you about how you will monetize your app in the later stages. Here is a brief on it before ending the blog.

Monetization Strategy for an App Idea

If you are creating an app business plan, the strategy display is a must. Your firm will make profits in the future, and you are confident of it. 

Here are some of the common money-making tactics for your app business:-

• The charge for the services (You have a premium app model. Ensure that the users pay and use it.)
• In-app purchases are a great model for mobile apps on both iOS and Android.
• Subscriptions (this monetization strategy is very common. And continues to make revenue until the user decides to cancel the subscription. And so most apps offer a free trial period.)

Classic Tip from Our Experts

To flourish in your app business plan, you should take an MVP model with you. With such an app or software development, it becomes easy for the third person to understand your intent and be with you in the discussion.

A business plan with a functioning model is what will definitely make its way through. You can address your audience most effectively with such a profitable move. For more query on the topic, you can consult our experts. Also, get a free quote for your app idea!

On a Concluding Note!

Bring out your unique app business plan. No clone successfully made its way up to an original Uber, Netflix, Amazon, and Flipkart. Get yourself out there with our tech brains. Let’s explore the best for you and your business together. Invade the online space with a great mobile app business plan.

1. What is a business plan for a mobile app?

The app business plan is a document with all the details of the business and step wise representation of a futuristic SDLC. 

2. How does a mobile app business plan look like?

It starts from a brief history of your company to the marketing plan, launch date, investor details, and more. Every minute upgrade which will happen in the future has to be mentioned in the plan. 

3. What is the price to create a business strategy for an app?

It depends on the size of your business and the entire project scope. Our cost to create a business plan starts from $3000.

Mobile App Business Plan

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Bharat Patel

The software development world has been filling the gaps between customer and businesses at a lightning speed. Being an expert for 17+ years in the tech industry, I have been into multiple roles right from management to consulting. My team and I ensure to craft the best large scale apps with intricate designing to meet all the required and complex needs of a business.

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How to Start a Mobile App Business

ON THIS PAGE

• How To Start a Mobile App Business
• How To Start a Mobile App Business FAQs

Helpful Slideshows, Videos & Images

• Additional Resources in the Mobile App Industry

Starting a mobile app business can be very profitable. With proper planning, execution and hard work, you can enjoy great success. Below you will learn how to start an app successfully.

Importantly, a crucial step in starting a mobile app business is to complete your business plan. To help you out, you should download Growthink’s Ultimate Mobile App Business Plan Template here.

Download our Ultimate Mobile App Business Plan Template here

15 Steps To Start a Mobile App Business

• Choose the Name for Your Mobile App Business
• Develop Your Mobile App Business Plan
• Choose the Legal Structure for Your Mobile App Business
• Secure Startup Funding for Your Mobile App Business (If Needed)
• Secure a Location for Your Business
• Register Your Mobile App Business With the IRS
• Open a Business Bank Account
• Get a Business Credit Card
• Get the Required Business Licenses and Permits
• Get Business Insurance for Your Mobile App Business
• Buy or Lease the Right Mobile App Business Equipment
• Develop Your Mobile App Marketing Materials
• Purchase and Setup the Software Needed to Run Your Mobile App Business
• Build Your Team
• Open for Business

1. Choose the Name for Your Mobile App Business

The first step to starting a mobile app development business is to choose your business’ name. This is a very important choice since your company name is your brand and will last for the lifetime of your business. Ideally you choose a name that is meaningful and memorable. Here are some tips for choosing a name for your mobile app business:

• Make sure the name is available. Check your desired name against trademark databases and your state’s list of registered business names to see if it’s available. Also check to see if a suitable domain name is available.
• Keep it simple. The best names are usually ones that are easy to remember, pronounce and spell.
• Think about marketing. Come up with a name that reflects the desired brand and/or focus of your software company.

2. Develop Your Mobile App Business Plan

One of the most important steps in starting a mobile app business is to develop your mobile app business plan . The process of creating your plan ensures that you fully understand your market and your business strategy. The plan also provides you with a roadmap to follow and if needed, to present to funding sources to raise capital for your business.

To enhance your planning process, incorporating insights from a  sample mobile app business plan  can be beneficial. This can provide you with a clearer perspective on industry standards and effective strategies, helping to solidify your own business approach.

Your business plan should include the following sections:

• Executive Summary – this section should summarize your entire business plan so readers can quickly understand the key details of your mobile app business.
• Company Overview – this section tells the reader about the history of your mobile app business and what type of mobile app business you operate. For example, are you building hybrid apps or native apps? Will your app be available for purchase from different app stores? Will it undergo app store optimization for Apple’s app store or another app store? Do you specialize in developing Android apps or iOS apps?
• Industry Analysis – here you will document key information about the mobile app industry. Conduct market research and document how big the industry is and what trends are affecting it.
• Customer Analysis – in this section, you will document who your ideal or target customers are and their demographics. For example, how old are they? What are their interests?
• Competitive Analysis – here you will document the key direct and indirect competitors you will face and how you will build competitive advantage.
• Marketing Plan – your app marketing plan should address the 4Ps: Product, Price, Promotions and Place.
• Product : Determine and document what products/services you will offer
• Prices : Document the prices of your products/services
• Place : Where will your business be located and how will that location help you increase sales?
• Promotions : What promotional methods will you use to attract customers to your mobile app? For example, you might decide to use pay-per-click advertising, public relations, search engine optimization and/or social media marketing. You might also try to secure advertising on an app store to reach a larger audience or creating YouTube videos that showcase your user interface and all the features of your app.
• Operations Plan – here you will determine the key processes you will need to run your day-to-day operations. You will also determine your staffing needs. Finally, in this section of your plan, you will create a projected growth timeline showing the milestones you hope to achieve in the coming years.
• Management Team – this section details the background of your company’s management team.
• Financial Plan – finally, the financial plan answers questions including the following:
• What startup costs will you incur?
• How will your mobile app business make money?
• What are your projected sales and expenses for the next five years?
• Do you need to raise funding to launch your business?

Finish Your Business Plan Today!

3. choose the legal structure for your mobile app business.

Next you need to choose a legal structure for your mobile app business and register it and your business name with the Secretary of State in each state where you operate your mobile app business. Below are the five most common legal structures:

1) Sole Proprietorship

A sole proprietorship is a business entity in which the owner of the mobile app business and the business are the same legal person. The owner of a sole proprietorship is responsible for all debts and obligations of the business. There are no formalities required to establish a sole proprietorship, and it is easy to set up and operate. The main advantage of a sole proprietorship is that it is simple and inexpensive to establish. The main disadvantage is that the owner is liable for all debts and obligations of the business.

2) Partnerships

A partnership is a legal structure that is popular among small businesses. It is an agreement between two or more people who want to start a software company together. The partners share in the profits and losses of the business.

The advantages of a partnership are that it is easy to set up, and the partners share in the profits and losses of the business. The disadvantages of a partnership are that the partners are jointly liable for the debts of the business, and disagreements between partners can be difficult to resolve.

3) Limited Liability Company (LLC)

A limited liability company, or LLC, is a type of business entity that provides limited liability to its owners. This means that the owners of an LLC are not personally responsible for the debts and liabilities of the business. The advantages of an LLC for a software company include flexibility in management, pass-through taxation (avoids double taxation as explained below), and limited personal liability. The disadvantages of an LLC include lack of availability in some states and self-employment taxes.

4) C Corporation

A C Corporation is a business entity that is separate from its owners. It has its own tax ID and can have shareholders. The main advantage of a C Corporation for a software company is that it offers limited liability to its owners. This means that the owners are not personally responsible for the debts and liabilities of the business. The disadvantage is that C Corporations are subject to double taxation. This means that the corporation pays taxes on its profits, and the shareholders also pay taxes on their dividends.

5) S Corporation

An S Corporation is a type of corporation that provides its owners with limited liability protection and allows them to pass their business income through to their personal income tax returns, thus avoiding double taxation. There are several limitations on S Corporations including the number of shareholders they can have among others.

Once you register your mobile app business, your state will send you your official “Articles of Incorporation.” You will need this among other documentation when establishing your banking account (see below). We recommend that you consult an attorney in determining which legal structure is best suited for your company.

4. Secure Startup Funding for Your Mobile App Business (If Needed)

In developing your mobile app business plan, you might have determined that you need to raise funding to launch your business. If so, the main sources of funding for a mobile app business to consider are personal savings, family and friends, credit card financing, bank loans, crowdfunding and angel investors. Angel investors are individuals who provide capital to early-stage businesses. Angel investors typically will invest in a mobile app business that they believe has high potential for growth.

5. Secure a Location for Your Business

You might choose to run your mobie app business from home or build a remote team. Alternatively, you might secure a physical location for your business. To find the right space, consider:

• Driving around to find the right areas while looking for “for lease” signs
• Contacting a commercial real estate agent
• Doing commercial real estate searches online
• Telling others about your needs and seeing if someone in your network has a connection that can help you find the right space

6. Register Your Mobile App Business With the IRS

Next, you need to register your business with the Internal Revenue Service (IRS) which will result in the IRS issuing you an Employer Identification Number (EIN).

Most banks will require you to have an EIN in order to open up an account. In addition, in order to hire employees, you will need an EIN since that is how the IRS tracks your payroll tax payments.

Note that if you are a sole proprietor without employees, you generally do not need to get an EIN. Rather, you would use your social security number (instead of your EIN) as your taxpayer identification number.

7. Open a Business Bank Account

It is important to establish a bank account in your mobile app business name. This process is fairly simple and involves the following steps:

• Identify and contact the bank you want to use
• Gather and present the required documents (generally include your company’s Articles of Incorporation, driver’s license or passport, and proof of address)
• Complete the bank’s application form and provide all relevant information
• Meet with a banker to discuss your business needs and establish a relationship with them

8. Get a Business Credit Card

You should get a business credit card for your mobile app business to help you separate personal and business expenses. You can either apply for a business credit card through your bank or apply for one through a credit card company.

When you’re applying for a business credit card, you’ll need to provide some information about your business. This includes the name of your business, the address of your business, and the type of business you’re running. You’ll also need to provide some information about yourself, including your name, Social Security number, and date of birth.

Once you’ve been approved for a business credit card, you’ll be able to use it to make purchases for your business. You can also use it to build your credit history which could be very important in securing loans and getting credit lines for your business in the future.

9. Get the Required Business Licenses and Permits

Every state, county and city has different business license and permit requirements. Nearly all states, counties and/or cities have license requirements including:

• General Business License – This is the most common type of business license. It gives you permission to operate your business in a specific location.
• Sales Tax License – This type of license is required if you will be selling products or services that are subject to sales tax.

Depending on where you open your business and the type of apps you develop, you will have to obtain the necessary state, county and/or city licenses.

10. Get Business Insurance for Your Mobile App Business

Business insurance policies that you should consider for your mobile app business include:

• General Liability Insurance – This type of insurance can help protect the business if someone is injured or their property is damaged as a result of something the business did or failed to do.
• Product Liability Insurance – If the mobile app business sells products, this type of insurance can help protect against any injuries or damages that occur as a result of using the product.
• Workers’ Compentation Insurance – If the mobile app business has employees, this type of insurance can help protect against any injuries or illnesses that they may suffer while working for the business.

Find an insurance agent, tell them about your business and its needs, and they will recommend policies that fit those needs.

11. Buy or Lease the Right Mobile App Business Equipment

A mobile app business needs a computer, internet access, and software to create mobile apps. If you plan to have a physical location for your team, you might also need office supplies and furniture.

12. Develop Your Mobile App Business Marketing Materials

Marketing materials will be required to attract and retain customers to your mobile app business. The key marketing materials you will need are as follows:

• Logo – Spend some time developing a good logo for your mobile app business. Your logo will be printed on company stationery, business cards, marketing materials and so forth. Your logo might also be displayed within the app. The right logo can increase customer trust and awareness of your brand.
• Website – Likewise, a professional mobile app business website provides potential customers with information about the products and/or services you offer, your company’s history, and contact information. Importantly, remember that the look and feel of your website will affect how your target audience perceives you. A website is a good place to announce company news and app updates to new and existing app users.
• Social Media Accounts – Establish social media accounts in your company’s name. Accounts on Facebook, Twitter, LinkedIn and/or other social media networks will help customers and others find and interact with your mobile app business. Social media pages are great for building communities of your users.

13. Purchase and Setup the Software Needed to Run Your Mobile App Business

There are a few software programs that a mobile app business needs in order to get started. One option is Appcelerator, which allows you to develop apps using JavaScript, HTML5, and Titanium. Another popular tool is PhoneGap, which helps you create cross-platform apps using HTML5 and JavaScript. Finally, you’ll need a development environment like Eclipse or Xcode in order to write code for your apps.

14. Build Your Team

A key component to starting most any business is to build a great team. This is especially true for mobile app businesses, which are heavily reliant on technology. You’ll need to assemble a team of talented engineers, designers, and marketers who can help you turn your vision into reality.

If you don’t have the necessary skillsets in-house, you’ll need to hire freelancers or consultants to fill the gaps. The most important thing is that you have a solid foundation of people who can bring your app idea to life.

15. Open for Business

You are now ready to open your mobile app business. If you followed the steps above, you should be in a great position to build a successful business and you will know everything you need about how to start an app business. Below are answers to frequently asked questions that might further help you.

How to Finish Your Mobile App Business Plan in 1 Day!

How to start a mobile app business faqs, is it hard to start a mobile app business.

Starting a mobile app business can be easy as long as you have great app ideas and the resources to make them come to life. Your biggest challenges will most likely be securing the funds needed to start the business and building a team for the app development process. The steps outlined above will help you and teach you how to start an app business.

How Can I Start A Mobile App Business With No Experience?

If you have a great idea for a mobile app but lack the experience to make it happen, you can always consult with or hire someone who does. There are many ways to get started in mobile apps without any prior experience. Doing thorough market research and investigating how other app developers run their businesses can also be very helpful in launching your own successful app development company.

What Type of Mobile App Business Is Most Profitable?

There is no definitive answer to this question since there are many factors that can affect profitability. However, some types of mobile app businesses that tend to be more profitable than others include those that offer unique and innovative products or services, target a specific niche market, or have low overhead costs.

How Much Does It Cost To Start A Mobile App Business?

The cost of starting a mobile app business can vary depending on a number of factors, such as the type of app you want to create, the platform you want to develop it for, and whether or not you hire someone to help you. In general, you can expect to spend several thousand dollars at a minimum to get your business off the ground.

Key startup costs include:

• Hardware with enough speed and space to ensure a smooth work environment and a high-resolution screen
• Finding and hiring the right coder(s), as needed
• A place to work, if needed
• Office furniture

What Are the Ongoing Expenses for a Mobile App Business?

Your ongoing expenses for a mobile app business will depend largely on the type of app you have created and the platform you are using to sell it. Generally, your biggest ongoing expenses will be employee salaries and software costs.

Key costs to remember include:

• Wages – App developers typically have at least an undergraduate degree, and are required to have a specialized skill set. These factors combine to make your app development team’s wages your single largest industry expense.
• Purchases – These generally entail development kits, hardware, and software updates.
• Royalties – App store royalties are a significant cost for app development businesses, but these costs have been trending downward over the last five years.
• Marketing - Marketing costs include advertising and any other expenses associated with promoting your business and products.

How Does A Mobile App Business Make Money?

Most mobile app businesses make money through a business model that is a combination of advertising and in-app purchases or subscriptions. Some apps also offer paid memberships that give users access to additional features or content. Users might also pay an initial fee to purchase when downloading an iOS app from the Apple app store or an Android app from the Google Play store.

Is Owning A Mobile App Business Profitable?

Yes, owning a mobile app business can be profitable. However, it is important to keep in mind that profitability depends on a number of factors, including the type of app you have created, your target market, and your marketing and advertising efforts.

Why Do Mobile App Businesses Fail?

There are many reasons why mobile app businesses fail. Some common reasons include a lack of innovative products or services, poor marketing and advertising efforts, and an inability to generate enough revenue to sustain the business. Additionally, many businesses fail due to a lack of understanding of the mobile app industry and how it works.

How Big Is the Mobile App Industry?

There are currently an estimated 455,835 Mobile App businesses in the US. This industry has experienced rapid revenue growth over the past five years, to reach $16.2 billion.

What Are the Key Segments of the Mobile App Industry?

The two largest product segments for the Mobile App industry are Games and Social Networking apps. Smaller product categories include News Apps, Entertainment Apps, and Other Apps.

What External Factors Affect the Mobile App Industry?

A number of factors affect the performance of the Mobile App industry. These drivers include:

• Number of Mobile Internet Connections –This corresponds to the number of people who own a smartphone, which in turn affects demand for apps.
• Percentage of Services Conducted Online – The increasing number of online purchases and business transactions represents a distinct opportunity for app developers, as more people complete these transactions via smartphone applications.
• Time Spent on Leisure and Sport s – Since games are a major segment of the industry, it follows that the more time people have for leisure, the more game apps they will download. 

Who Are the Key Competitors in the Mobile App Industry?

The companies with the greatest market share are King Digital Entertainment, Kabam, Electronic Arts, and Zynga (all game app developers).

What Are the Key Customer Segments in the Mobile App Industry?

The Mobile App industry’s largest customer segment is consumers between the ages of 18 and 29. Consumers aged 30 to 49 are the second-largest customer segment, followed by those over the age of 50.

How Much Do App Developers Make?

About 25% of developers earn over $5,000 per month on the iOS platform, and 18% of developers make this on the Android platform.

According to PayScale, the median salary for a senior Software Engineer/Developer/Programmer is $99,193 per year.

Where Can I Download a Mobile App Business Plan PDF?

You can download our mobile app business plan PDF template here. This is a business plan template you can use in PDF format.

How To Build a Billion Dollar app?

Mobile App Development Cost and Design

Inside the Android Factory: 5 Ways to Build Profitable Applications

For additional information on the App Development industry, consider these industry resources:

• The Application Developers Alliance: appdevelopersalliance.org
• Gartner: www.gartner.com
• The Verge: www.theverge.com/apps
• App Mavericks: www.appmavericks.com

OR, Let Us Develop Your Plan For You

Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success. Click here to see how Growthink’s professional business plan consulting services can create your business plan for you.  

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Mobile App Business Plan Template [Updated 2024]

Mobile App Business Plan

If you have a mobile app startup or want to expand your current mobile app business, you clearly need a business plan.

The following mobile app business plan template and example give you the key elements to include in a winning plan.

You can download the Mobile App business plan template (including a full, customizable financial model) to your computer here.

Mobile App Business Plan Example

Below are links to a sample of each of the key sections of a solid business plan for a mobile app development company:

• Executive Summary – The Executive Summary provides an overview of the mobile app business and its goals. If you are seeking funding, this is the first section that a potential investor or lender will read, so it should be compelling.
• Company Overview – In this section of your business plan, you should provide a detailed description of your mobile app business including the history, mobile app concept, business model, mission statement, and the company’s growth plan.
• Industry Analysis – In the Industry Analysis section, you will describe the mobile app industry including recent developments, market research and trends, and the competitive landscape.
• Customer Analysis – The Customer Analysis section of a business plan for an app will provide details about your target audience including their demographics, needs, and preferences.
• Competitive Analysis – In the Competitive Analysis section, you will provide information about the strengths and weaknesses of your direct competitors (other mobile app businesses) and how you will establish your competitive advantage to gain market share.
• Marketing Plan – The Marketing Plan will detail the monetization strategy for your mobile application and how your company will promote your mobile apps and/or development services. This includes a comprehensive digital marketing strategy to reach your target customers on multiple platforms (Google Play, Apple Store, etc.).
• Operations Plan – The Operations Plan outlines the day-to-day operations of your mobile app business. This includes information about how you will manage your team and develop, launch, and support your mobile applications.
• Management Team – In the Management Team section, you will outline the qualifications and experience of your executive team members and advisory team.
• Financial Plan – The Financial Plan section will include a 5-year financial model and projections (income statement, balance sheet, and cash flow statement). This is important to show potential investors and lenders that you have a viable plan for the mobile app business.

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Mobile App Business Plan Outline

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How to Write Business plan for your Mobile app?

The search giant Statista quotes that in 2026, users are likely to download 143 billion mobile apps from the Google Play Store, and for the Apple Store, it is 38 billion. These figures show a remarkable growth between 15-30% from the previous years. Even further, during the third quarter of 2022 , more than 3.55 million mobile apps were available on the Google Play Store.

Hence, it is not exaggerated to say businesses should have a foolproof mobile app business plan to find a permanent place on users’ mobile phones because the chances of user engagement and conversion are manifold.

At present, businesses are on the verge of getting completely automated, and any business that does not offer ease to its end users or customers to avail services or buy products are likely to get vanished. If you are an entrepreneur and aim to lead the market with your brand, it is indeed necessary to write specifications for mobile app development before you even think of outsourcing a project to top mobile app development companies.

Table of Contents

Importance of Mobile Apps for Businesses

There are many significant reasons why mobile apps are mandatory for any business; today, mobile apps are not just a trend, but a necessity for businesses in the modern world. They help businesses increase their sales, customer loyalty, brand awareness, accessibility, analytics, revenue generation, and customer service. Mobile apps can also serve as a powerful marketing tool that can reach and engage the target audience with personalized and timely messages.

Here are some reasons why mobile apps are mandatory for businesses today:

Improves accessibility

Mobile apps can improve accessibility by making the business available 24/7 to customers. They can also offer offline access, location-based services, push notifications, and other features that can improve the user experience and convenience.

Increases sales

Mobile apps can boost conversions by offering a fast and convenient way for customers to browse, compare, and purchase products or services. They also offer discounts, coupons, rewards, and other incentives to encourage repeat purchases and referrals.

Marketing tool

Customized mobile apps serve as a marketing tool that can promote the business’s products, services, offers, and events to the target audience. Mobile apps can also leverage social media platforms, email marketing, SMS marketing, and other such digital marketing services to increase the reach and impact of marketing campaigns.

Customer loyalty

Mobile apps foster customer loyalty by providing a direct and constant communication channel with customers. With it you can also offer features such as feedback forms, chatbots, social media integration, and loyalty programs that can help you to enhance customer satisfaction and retention.

Brand awareness

A good mobile application increases brand awareness by creating a unique and memorable identity for the business. You can turn an app idea into reality and portray your business’s values, vision, mission, and personality through design, content, and functionality.

Better analytics

Enterprises, especially startups, primarily focus on analytics as they largely depend on this data to build other business strategies. Thoughtfully built mobile apps can provide better analytics by collecting and analyzing data on user behavior, preferences, feedback, and satisfaction. You can also get better insights into market trends, customer segments, and competitors that can help you improve your business strategies and performance to increase profit and get the best Return on Investment.

Better customer service

Mobile apps can offer better customer service by providing instant and personalized support to customers. It can also offer features such as FAQs, tutorials, videos, chatbots, and call options that can resolve customer queries and issues to increase User Experience (UX).

Having a mobile app is important for businesses today as it can provide many benefits that help them to grow and succeed in the competitive market. With mobile applications, business owners can attract, retain, and delight their customers with a seamless and engaging user experience.

How To Write a Business Plan For a Mobile App?

Executive summary

A concise and clear part about how your product works is an executive summary. Whether you are a CEO of an upcoming big startup or a small business owner, expressing your product should be translucent. The three things to keep in mind while writing an executive summary for your mobile application are:

Unique value proposition

A Unique Value Proposition or a Unique Selling Proposition (USP) is a section that expresses your mobile app business idea’s uniqueness and distinct selling points about the product or services that you offer.

This is the list of things you will need to incorporate:

• Identify your ideal customer
• List your product’s benefits, value, and how it stands out
• Focus on clarity and specificity
• Test and optimize your UVP and USP

Objectives are the specific steps you and your business organization need to take in order to reach long-term goals. It includes what the business aims to achieve and the overall ideals of the organization. These objectives are based on your analysis for mobile applications.

It mainly focuses on your end goals and the timeline to achieve your goals. These objectives improve customer services, enhance worker productivity, increase profits, and attract investors to your business plan for mobile app development.

This part is a brief outline of the business organization’s goals and purpose for the app development business plan. A good outline includes

• Brief description of products and summary
• Summary of objectives
• Solid description of market
• High-level justification for viability
• Snapshot of growth potential
• Overview of funding requirements

Company synopsis

It is a shortened version that gives the basics of your business plan for a mobile app idea. It attracts financial lenders and inventors to bring in new capital. The pro tip is to include only-need-to-know information by keeping it brief and punchy.

Here are the foundational elements you will need to include in your business description:

The overview is like an introduction to your business. It comprehends the official company name, business entity, year of establishment, headquarters, and other locations if any.

Type of business

Whether it is a limited liability company(LLC), sole proprietorship, corporation, or partnership, this part includes the business structure of your enterprise. Entrepreneurs should carefully consider mentioning the type of business in the company overview.

The facts and concrete details about your business are essential for the readers of your company synopsis, but it is also important to share a glimpse of your mission and future goals. This section provides clarity behind what, who, and why of your company. The best mission statement typically is a succinct single but catchy line.

Statement of Concept

This is the part where you convert your words into reality. Readers by now know who you are and what you do but this acts as a guide and a persuasive tool in decision making. It simply identifies the target audience, defines the problem, and implies how your mobile app will address the problem.

Tell your story. A part of what makes your business plan for mobile application development unique from other businesses and organizations is your story and your experiences. Try to add interesting details and characteristic patterns of where your company comes from, how it came into existence and how you think, feel, and work.

You can list your achievements and milestones through a diagram or a chart so that readers can track your mobile app’s entire journey feasibly. If it’s not a startup, this is the space where you can also talk about the evolution of your mobile app business plan, how it was when it was first launched, how it has grown and changed over the years.

Share the names, photos, and key roles of the ownership and management team of your company. Whether they are remote workers, full-time, part-time employees, app development team, or advisory board members, stakeholders, mention details of their work history, educational background, and skills.

The importance of this section is often understated but giving the details about all the people involved within the company is vital. The readers will be intrigued about your app development team and investors will want to know more about them. Adding a section of your advisory panel and board members who are extremely experienced can be a center of attraction.

Industry Analysis

This section involves a lot of research-based information about your business, rivals, sales, and the overall market. As an entrepreneur, it is vital to collect every grain of information regarding your mobile app business idea from market history to current trends. There are a lot of business factors to consider before launching a mobile app.

The overall information about the market can hugely impact business statistics. This part includes two main segments market analysis and market forecast:

Market analysis

One of the main factors in realizing your mobile application development idea for your business should be data about the state of the market. Collect current information, make short-term forecasts, and have a marketing plan. Market analysis hugely impacts the viability of your mobile app business plan.

Market forecasts

This is an integral part of writing a business plan to realize your mobile app development. Usually, the data on the growth in the number of companies in the mobile app development industry and data on the money spent is incorporated in market forecasts.

SWOT analysis

SWOT analysis is method of strategic planning that allows you to give a well-structured description of where you stand in the market. It can be used to study new projects, enterprises, regions or even entire countries linked with your mobile app. SWOT analysis is a decisive factor in understanding businesses and plays a huge role in customer satisfaction. Here are the details on what exactly SWOT analysis stands for;

The positive tangible and intangible attributes within the business organizations’ control are mentioned in this part.

All businesses have their individual weaknesses and it is quite normal. The knowledge of potential problems acts as a strong motivator to address solutions to its significant weaknesses.

• Opportunities

The externally attractive factors that represent the reason for an organization to exist and develop are opportunities. List out the opportunities that exist in an environment propelling the organization.

The external factors beyond your organization’s control and can act as an operational risk to your mission should be considered beforehand. Having contingency and backup plans can be a big help to address the threats that may or may not occur.

Marketing Strategy

This section is the bridge that strategically allows your mobile app business plan to fall into the hands of your customers. It helps you outline exactly where your business plan for developing an app fits into the market and how will you price, promote, and sell your mobile app.

The correct marketing strategy gets you more sales and acts as an important source of information for potential investors interested in analyzing your mobile app business plan.

Target audience

You need to pick your target audience and understand them thoroughly before developing a mobile app. For any experienced mobile app developer, knowing the target audience is a critical point. It gives them a chance to figure out the structural behavior of your mobile app.

Eventually, knowing your audience and targeting just them helps save a lot of money and time for app marketing. Market segmentation strategies also play a huge role in targeting app customers.

Landing page

A landing page is an excellent way to reach out to your target audience. For this, you will need to develop an engaging mockup and provide your collaborators with data on how many customers will discover your product from this landing page.

A mobile app landing page is specifically made for promoting your mobile app concept by describing features and value propositions. A landing page entices users to click on the link, download and install your app.

App rating and review

Mobile app rating is just one of the approaches to position your app for success, but it’s a critical one. Hence, including it in your mobile app business plan is necessary. Nowadays, user often rely on app ratings and reviews to decide whether they should download the mobile app or not. Google is coming up with a new rating formula that rates apps in the Play Store based on their current performance.

Research shows that almost 79% of people will read reviews and ratings before installing an app. So, it is also an important user acquisition factor. Furthermore, you can leverage app reviews to accelerate app growth.

Competitor analysis

Competitor analysis is an indispensable element of any business plan. All businesses religiously perform this step, regardless of the organization type, size, or industry.

Define your competitors, study their weaknesses, brainstorm them into your strengths, learn from them and be aware of their history and capabilities. Make sure, mobile app that you build offers an ample amount of functionalities and is able to cater to customers better than your rivals.

As Gillian Morris states, if you invest in growth before you have customer retention, you are not acquiring mobile app users. You are renting them. You need to focus on activation first and not acquisition.

Your success will be measured by conversion rates or the number of installations and not financial rates, especially in the beginning stages. Mobile app growth can be fueled by referral programs and collaboration with business organizations.

Customer acquisition strategy

The most effective way to promote a product, especially a mobile app concept is through social media. It is simply a marketing phase where you can convey the details and strategies of how you plan to attract new users.

By targeting multiple platforms and spreading the word, you will be bringing your mobile app closer to the intended users. Some of the many marketing channels you can aim to achieve a perfect business plan for monetizing your mobile app after development are:

• Search engine marketing
• Social media ads
• Mobile app walls ads
• Email marketing
• Press releases
• Content marketing
• App store optimization
• Push and in-app notifications
• Incentivized user downloads
• Organic installs
• Public relations
• Event marketing
• Retargeting campaigns
• Partnerships
• Mobile site redirection

Operational strategy

Operational strategy is a total pattern of decisions that shape long-term capabilities of a mobile app and its contributions to the overall strategy. This is the part that drives the business’ operations. It is a strategy for customer relations that also allocates funding to the business. By planning this, a business can examine and implement effective systems for using resources, personnel, and work processes.

Here are the two steps you will need to encounter:

Users process

Since the users first hear about the mobile app and start using it, the user process is a detailed outline of how users are using the mobile app. It involves information about users’ behavior from start to end.

Personnel plan

The personnel plan incorporates all the information about the employees and people working on the project. The process of hiring the employees, their salaries, and expenses are included in this section. The hierarchy of the organization, norms, and stages are outlined in this section.

Financial Plan for Mobile Application

The final step in planning a successful mobile app development for your business is you need to predict the expected revenues and finances of your mobile app. Before moving forward, you must clearly understand the type of finances you are going to need.

Required funding

This is the part where you reveal all information related to funding and finances for your mobile app business plan.

Here are the questions you will need to address:

• How much finance or funds do you require?
• How are you going to make money?
• How much percentage of equity are you proposing to give in return?
• How long will the money be sufficient before you need to propose another funding round?
• How is it going to be, preferred stock or a convertible note?

The two things investors will be most interested in will be the costs and the variables. The cost to develop a mobile app varies depending on app features, app developers’ rates, and the complexity of the application. For a precise estimate, you may request the top mobile app development company for a quote. Some costs are fixed while some are not, here are a few costs you will need to take into consideration:

• One-time costs
• Periodic costs
• Fixed costs
• Variable costs

Revenue models

Revenue models are strategies and resources for managing and promoting a business’ revenue stream. It took 8 years for Facebook and over 3 years for Snapchat to introduce monetization models. But if you do it right, you can achieve amazing results. One of the best examples is Amazon Prime, with analysts pegged Prime’s yearly user retention rate at over 90%.

While planning for mobile app monetization, it is important to monitor the marketing metrics and benchmark them against the industry. This will help you spot weaknesses and align your marketing efforts more efficiently with MVP development .

Revenue models can turn out to be successful with continuous testing and iteration Among a lot of revenue models to earn money via mobile app, we have penned down the most popular and efficient ones here:

• In-App Purchase
• In-App Advertising
• Subscription-Based Model
• Freemium Model
• Premium Subscriptions
• Sponsorship and Partnership
• Affiliate Marketing
• Referral Marketing
• Data Monetization
• Pay Per Download

The average time spent by mobile users on their smartphones is 170 minutes per day. Out of that, apps account for 89% of mobile media time versus around 13% on the web. This is just the data, reality is right in front of us, right in front of you on your screen at the very moment. So, if you have a mobile app business idea , don’t hesitate to make a wonderful plan and create a groundbreaking mobile app because it will grow significantly. Last but not least, plan for what is difficult while it is easy, and do what is great while it is small.

Frequently Asked Questions about Mobile App Business Plan

What is a business plan for a mobile app.

The business plan for a mobile app is detailed documentation that acts as a guide for all the business stakeholders involved in the development project. it enables them to know how to build and launch the app profitably.

How long does it take to write a business plan for an app?

Business plan creation for the app involves identifying USP, target user and competition research and analysis, and the right marketing channels search, which takes around 1-3 months based on the app’s complexity.

Is it possible to create an application without a business plan?

Yes, it’s possible to create an app without a business plan, but an app released in an unplanned way ultimately fails at a later stage even if it’s able to gain enough traction. Having a business plan helps you move in the right direction.

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A professionally engaged blogger, an entertainer, dancer, tech critic, movie buff and a quick learner with an impressive personality! I work as a Senior Process Specialist at Topdevelopers.co as I can readily solve business problems by analyzing the overall process. I’m also good at building a better rapport with people!

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FCC fines Verizon, AT&T other major carriers nearly $200 million for sharing customer data

Verizon, at&t, t-mobile and sprint have been fined a collective $200 million for sharing customers' location data without their consent, the fcc announced monday..

Federal regulators have fined several major cellphone carriers nearly $200 million combined for illegally sharing customers' location information without their consent.

T he Federal Communications Commission announced the fines Monday against Verizon, AT&T, T-Mobile and Sprint, the latter two of which have since merged since investigation began. An investigation determined the four carriers sold access to their customers’ location data to aggregators, who went on to sell the data to third party location-based service providers.

“Our communications providers have access to some of the most sensitive information about us," said FCC Chairwoman Jessica Rosenworcel in a statement. "These carriers failed to protect the information entrusted to them."

Williams-Sonoma fined: Retailer must pay $3.2 million for falsely claiming products were "Made in the USA," FTC says

Location data 'puts all of us at risk,' head investigator says

The investigations began after it was made public that the nation's largest wireless carriers were sharing customers' location information without their knowledge or any other sort of authorization.

By selling access to such information to aggregators, the FCC found that each carrier had attempted to "offload its obligations to obtain customer consent onto downstream recipients of location information." That meant that in many instances, no valid customer consent was ever obtained.

When the carriers were notified that their safeguards were ineffective, all four continued to sell access to location information without implementing measures to protect customer location information from unauthorized third party access, according to the FCC.

Under federal law , carriers are required to protect location information along with other confidential customer information unless they have "express consent" to share it, the FCC said.

Foreign adversaries and cybercriminals have begun making it a priority to obtain sensitive personal data of Americans, such as location information, said Loyaan A. Egal, chief of the FCC Enforcement Bureau, which headed the investigations.

“The protection and use of sensitive personal data such as location information is sacrosanct,” Egal said in a statement. “When placed in the wrong hands or used for nefarious purposes, it puts all of us at risk."

What were all 4 carriers fined?

The agency first proposed the fines in 2020 following the investigations.

The penalties for Verizon and T-Mobile were eventually reduced after the commission reviewed additional evidence, according to the forfeiture orders made available by the FCC.

Here's what each carrier has been fined:

• Verizon : $46.9 million;
• AT&T : $57.3 million;
• T-Mobile : $80.1 million
• Sprint : $12.2 million.

Wireless carriers plan to appeal penalty

In separate statements Monday to USA TODAY, Verizon, T-Mobile and AT&T all said they would appeal the ruling, indicating the penalty is related to programs the companies all shuttered more than five years ago.

In a statement saying “Verizon is deeply committed to protecting customer privacy," company spokesman Rich Young said FCC's order concerns a now-defunct program requiring opt-in consent from customers to support services like roadside assistance and medical alerts.

"When one bad actor gained unauthorized access to information relating to a very small number of customers, we quickly and proactively cut off the fraudster, shut down the program, and worked to ensure this couldn't happen again," Young said in the statement. "Unfortunately, the FCC’s order gets it wrong on both the facts and the law."

An AT&T spokesperson told USA TODAY that "the FCC order lacks both legal and factual merit."

"It unfairly holds us responsible for another company’s violation of our contractual requirements to obtain consent, ignores the immediate steps we took to address that company’s failures, and perversely punishes us for supporting life-saving location services," according to a statement from AT&T.

T-Mobile said in its statement that "we take our responsibility to keep customer data secure very seriously and have always supported the FCC’s commitment to protecting consumers, but this decision is wrong, and the fine is excessive."

Eric Lagatta covers breaking and trending news for USA TODAY. Reach him at [email protected]

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