MVP cost factors explained

When you’re building an MVP, the price can depend on many factors. You need to consider how much you can scale the platform and how many users it can handle. You also need to think about what features your MVP will include and how they’ll be customizable by different user roles. This guide will explain each of these points in detail so that you can better understand how pricing works with an MVP development company like ours!

Design

Design

When it comes to design, you’ll want to keep your MVP simple and minimal. It is less important for an MVP than it is for a full product. Consistency across platforms is key — if your app looks different on Android and iOS, for example, users will be confused about which version they should download.

Designs should also be user-friendly and easy to update as new features are added or bugs are fixed.

Scaling

Scaling

Scaling your MVP is a big, expensive undertaking. As you grow your company and customer base, there are many costs associated with scaling. For example, if you’re building an ad network that sells advertising space on websites across the internet (e.g., Google or Facebook), there’s a high cost for hosting all those sites and serving ads to them. If you’ve built an app that connects users with local service providers like dog walkers or house cleaners, then hiring more people to handle customer support will be necessary as well. All these things add up over time and can make it difficult to keep up with demand if they’re not planned ahead of time!

So what can we do? Well first off we need to understand what factors contribute most heavily to scaling costs:

  • Hosting and bandwidth 
  • Customer support/staffing 
  • Development/Engineering
  • Law/Regulatory compliance -Legal fees
  • Infrastructure maintenance and growth

Read also: “Top 5 ReactJS projects for beginners

Platforms you’re releasing on

Platforms you’re releasing on

One of the most important steps to consider when determining the MVP cost is which platforms you will be releasing on. This can seem like common sense, but it’s not always the case. You might find that your ideal platform would be mobile but your customers are desktop users. Or perhaps they use both equally and you need a solution that works across both platforms.

Each platform has different pricing structures, and each one has its own pros and cons as well. It all depends on what is important for your MVP in terms of features and functionality, but here are some examples so you can get an idea of what each option looks like:

  • Web app – web apps operate in any browser (desktop or mobile) with no installation needed by the user; however this type of application requires access to an internet connection; if there is no internet connection available then the service cannot be used
  • Mobile app – there are many options when deciding how much it costs to build such an app. Such factors as the platform, type of app, and the technology you’ll be using play a central role in price formation. Your app can be a hybrid, native, cross-platform, or for a single platform and created with the means of technologies for Android, iOS, or with React Native that suites both.

Features

Features

Features are the most common reason for an MVP being over budget. Features are typically included in MVPs to provide the best possible experience for users, but can also be used as a marketing tool or added to later iterations of an application or website when resources become available.

  • A feature can be a part of the MVP and not included in your MVP cost. For example, if you’re developing an eCommerce site that has some features such as shopping carts and coupons added in at a later date, those features will not have been included in your initial estimate because they weren’t needed at that time.
  • A feature can be both parts of the MVP and included in its cost. For example, if you’re using Stripe’s platform for payments on your new eCommerce site but don’t plan on using their invoice management tools until later iterations of development, then those services would likely be considered part of your initial estimate because they were essential elements needed during this first stage of development.

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Concurrency

Concurrency

Concurrency is a measure of the number of users who can use your app at the same time. Concurrency is measured either in terms of users or transactions, depending on what you’re trying to achieve with it.

Concurrency has many uses, including:

  • Scaling your app as needed (you’ll need fewer servers if there are only a few concurrent users)
  • Measuring how long it takes for one user’s request to complete (how long does it take for all their requests to complete?)

Customization options

Customization options

Customization options can be a major factor in the cost of your MVP. You may want to customize different aspects of your app, such as its color scheme or font size. Or you might decide to add functionality and allow users to create new products with their own custom titles, descriptions, and prices. The more customization you want to include in your MVP, the more money it will cost you.

The good news is that many companies offer free or low-cost templates that can help you get started building an MVP fast without breaking the bank—and once you’ve got one working version up and running (even if it does have basic features), then you can begin making decisions about how much time/money/energy should go into further developing features as well as how much effort would be required before rolling out an updated version of your product into production mode—all while keeping track of costs associated with each feature added along the way!

Technologies

Technologies

The strongest factor that will affect your MVP cost is the technology you want to use. For example, if you want a robust web app you need to use ReactJS, Vue.js, or Angular to create a user interface and Node.js or Ruby on Rails to develop a server-side. If we are talking about mobile development then you have to consider two options whether you want to create a native app for a specific platform like iOS or Android or you need a hybrid app. In the case of iOS native development, Swift will be a great solution, as for Android – Kotlin is your solution. In case, you need an app that will be available on both platforms then you need a hybrid app that can be developed with React Native.

Keep in mind that the choice of technology will directly affect the price of development because the rates are different for each technology.

User roles and permissions

User roles and permissions

You will also want to consider the developer roles and permissions. A common practice is to create a separate user for each role, but you should be aware that this can lead to issues down the line when it comes time to implement a new feature or make changes in one area of your product. For example, if you have one user account for all developers and another for administrative users when an update requires additional permissions for a specific group of developers (like adding the ability to create new users or reset passwords), it’s easy enough for them simply not log out of their administrative account when making those changes. This can lead your system into an inconsistent state where some users have permissions that others don’t because they weren’t aware they needed extra ones in order for something else to work correctly—and who would know what those extra permissions were?

Different MVP features can be priced differently.

As you build your MVP, it’s important to keep in mind the cost of each feature. The more often a feature is used, the more expensive it is to implement. Similarly, the less often a feature is used, the less expensive it will be for you to build. If a specific feature is used all of the time and never stops being used by your users (like an email service), then that feature will cost more than if you were building something that has only limited use cases or gets used sporadically over time (like an interactive map).

The same goes for features that are only useful when paired with other features: they’ll usually be cheaper than standalone features since they don’t require as much development work on their own.

Concluding

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The best way to find out what your MVP will cost is by talking with a development company or agency that has a relevant experience like our RIVO AGENCY. The specialists from such companies can give you all the details and the estimation of costs, so you could understand clearly how much you will pay for each piece of your MVP. After that, you can reconsider what features you need and start creating your minimum viable product and gather first impressions.

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