Mobile App Development Business

How Much Money Do Mobile App Development Businesses Make? (2024)

Pat Walls

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Updated: June 23rd, 2024

TL;DR:

Based on our data, mobile app development businesses can make between $6,000-$700,000 per month.
The average revenue for a successful mobile app development business is $141K per month.
The highest grossing mobile app development business in our records makes over $8,400,000 per year.
Mobile app development business owners salaries can vary wildly depending on industry, niche, and size of the business

So you're thinking about starting a mobile app development business?

And now you're wondering how much mobile app development business owners actually make...

Well, let’s dive in!

Here are example of real mobile app development businesses and how much money they make - as reported by the founders themselves:

1. Appetiser ($8.4M/year)

Jamie Shostak, the co-founder of Appetiser App Development, came up with the idea for the business when he met Michael MacRae, who had apps with millions of users but was looking for a new challenge. They both shared a passion for building and growing tech products, and saw a need for speed, data-driven insights, and top-level quality in the industry. After landing two great clients, they realized the importance of setting up predictable growth systems and started reaching out to prospective companies through outbound sales tactics. They are now on track to make over $8,000,000 annually with over 200 employees worldwide.

How much money it makes: $8.4M/year

2. Balsamiq ($6.6M/year)

Balsamiq Wireframes, a low-fidelity wireframing tool, was founded by Giacomo "Peldi" Guilizzoni in 2008. The idea for the tool came from Peldi's experience working at Adobe, where he realized the need for a simple sketching tool that could be used by any contributor in product meetings. With a focus on constant learning and improvement, Balsamiq has grown into a team of 33 people with a monthly revenue of about $550,000.

How much money it makes: $6.6M/year

3. Wolfpack Digital ($3.6M/year)

Gina, the founder of Wolfpack Digital, came up with the idea for her app development agency after realizing the lack of soft skills and business strategy in the tech ecosystem in Romania. With a diverse background in engineering, psychology, and business, Gina was able to bring together her interests and tap into the impressive tech talent pool in her hometown of Cluj. Since launching in 2015, Wolfpack Digital has experienced impressive growth, reaching a yearly revenue of over $1.5 million.

How much money it makes: $3.6M/year

4. Appscrip ($3M/year)

Rahul Sharma started Appscrip after identifying the lack of a specialized technology provider for startups in the on-demand services, social eCommerce, Fintech, and messaging platforms. With a focus on delivering cost-effective solutions in a shorter timeframe, Appscrip has grown to become a globally-acclaimed company with over 350 apps delivered per year and an in-house team of 150+ developers. Their success is evident through their numerous awards, recognitions, and contracts with renowned companies.

How much money it makes: $3M/year

5. RipenApps Technologies ($1.8M/year)

After working in the IT field for a decade, Ishan Gupta realized that digitalization was the future and wanted to contribute at a larger scale. He partnered with three friends who had expertise in business consulting, IT and sales, and programming to launch RipenApps in 2017. Since then, they have grown from a team of 4 to 169+ and have delivered 500+ successful projects, resulting in a USD 1.5M turnover.

How much money it makes: $1.8M/year

6. SteelKiwi ($1.8M/year)

Steelkiwi, a Ukrainian outsourcing company for web and mobile app development, was founded by Anton Baterikov and another individual in 2011. They noticed a gap in the market for offering businesses an alternative to PHP development and decided to provide high-quality products using Python. Today, Steelkiwi has expanded its expertise and works with businesses in various industries, with over 80 employees helping clients grow digitally.

How much money it makes: $1.8M/year

7. Never Settle ($1.8M/year)

Kenn Kelly, co-founder of Never Settle, came up with the idea for the digital agency after experiencing the ups and downs of the tech startup world. He realized the importance of taking care of people and decided to create a company that values and empowers both clients and staff. With a focus on service and building long-lasting relationships, Never Settle has become a globally recognized leader in mobile, website, and marketing solutions, completing over 1,000 projects in seven years.

How much money it makes: $1.8M/year

8. Materialize ($1.5M/year)

Alex Nordlinger, the founder of Materialize, came up with the idea for his business while working on side projects as a software engineer. Realizing he could take on more projects by hiring a team, he decided to start Materialize, a software development studio that provides web and mobile app development services. The business has grown to 18 employees, with a revenue of $125k per month.

How much money it makes: $1.5M/year

9. Imaginovation ($1.2M/year)

Imaginovation has grown an average of over 40% in revenue every year since its founding in 2011. They have won several credible tech awards and have been featured in top publications. The company has a strong local presence and a focus on building SEO-optimized websites to establish an online presence. The future looks bright for Imaginovation as they continue to attract and retain customers with their client-centered approach and innovative technology solutions.

How much money it makes: $1.2M/year

10. The Jed Mahonis Group ($960K/year)

Tim Bornholdt, co-founder of The Jed Mahonis Group, came up with the idea to start a custom iOS and Android app development consultancy after realizing the potential of the App Store. With a passion for technology and a friend who believed in the business, they started the company with just $250 each and have since grown it into a nearly seven-figure a year agency working with clients such as Great Clips and Profile by Sanford Health.

How much money it makes: $960K/year