How Much Does It Cost To Start A Time Tracking App? (In 2024)
Looking to start a time tracking app?
But curious about:
- how much it costs to start a time tracking app?
- what are the typical time tracking app startup costs?
- or the actual cost of starting time tracking apps?
Well, we have the data to prove it, supported by real time tracking apps and how much they actually cost to start.
Let's go over it.
What is the average cost of starting a time tracking app?
Based on our data reported by actual time tracking app founders, the average cost of starting a time tracking app is between $50 and $130,000.
Additionally, our data shows that the the median startup costs for a time tracking app are around $5K.
Remember, though, not all time tracking apps are the same - and neither are people's budgets. It's important to distinguish between different levels or types of time tracking apps
Real World Examples: How much does it cost to start a time tracking app?
We asked real time tracking app founders and business owners how much it actually cost to get started?
Here is what they said:
Pavel Cheshev
Founder of TIMEFLIP ($50K/month)
"We received quite modest pre-seed funding from a pool of business angels, but mostly we have been bootstrapping TimeFlip from day one. That meant we needed to be as lean startup as possible."
Pavel Cheshev is the founder of TimeFlip, an IoT solution for personal time management and productivity control that was started in 2016.
Dean A. Logan
Founder of Labor Sync ($185K/month)
"The entire business is self-funded with an investment of $2 Million to date on product development, legal services, payroll, etc."
Dean Logan is the co-founder and CEO of Labor Sync, a mobile application business founded in 2009 that helps track the time and GPS location of a mobile workforce.
Stas Moor
Founder of Klokki ($350/month)
"So it would have been impossible to get this far if we didn’t plan in advance. Both of us worked hard to save some money, to then have the “privilege” to not have a job for a while. That, plus a discipline to spend money only on the important things."
Stas Moor is the founder of Klokki, an automatic time-tracking Mac app for freelancers and creators that launched in 2018 and gained traction through supportive customer feedback and community engagement.
Drew Haines
Founder of HoursLogger ($850/month)
"Most of the startup costs were low for our business. We hosted on DigitalOcean for ~$10/month and the domain name was ~$30. The $800 annual LLC tax in CA was the most expensive cost we had. Everything else was pretty minor. All of this was easily covered by our consulting work."
Drew Haines is the founder of HoursLogger, a time tracking and invoicing app that [INSERT IMPRESSIVE STAT LIKE REVENUE].
Yarik Skov
Founder of Planndu ($700/month)
"We managed to get our first version spending only a few hundred dollars overall."
Yarik and Kate are the founders of Planndu, an app designed to help individuals focus and enhance productivity through features like focus timers, todo-lists, and notes, launched in 2022.
Nikolay Mihaylov
Founder of Ora ($21K/month)
"It took us around 600 days, from creating the repository to making the product publicly available."
Nikolay Mihaylov is the founder of Ora PM, a project management system that generates around $21K USD per month.
Ankit Tanna
Founder of Truein ($40K/month)
"My first startup was into the ride-sharing space. We soon realized there was a lack of clarity in ride-sharing regulations in India at that time. We decided to exit and got an opportunity to sell it to an automobile giant in India. It was a humble exit but still gave me cash in hand to kick start my next venture."
Ankit Tanna is the founder of Truein, a Face recognition-based attendance solution that boosts workforce productivity and transparency.
Asad Ali
Founder of Agiled ($10K/month)
"Our platform was bootstrapped and completely self-funded. We used our Agency income to fund this project. We were able to stay within the budget because we used Agency resources (Devs, Servers, etc) for Agiled."
Asad Ali is the founder of Agiled, an all-in-one business management software company that aims to help small businesses, freelancers, solopreneurs, agencies, entrepreneurs, and service-oriented businesses efficiently manage their operations.
Andrei
Founder of Monapp Calabs ltd ($25K/month)
"The initial costs for starting the business were low. The heavy investment was doing all the programming work. I was investing time, not money."
Andrei is the founder of Spapp Monitoring, an Android tracking app that started around 2014 and helps people monitor activities on mobile phones.
Jared Brown
Founder of Hubstaff ($500K/month)
"Dave and I each put in about $26,000 to fund the company in those early days."
Jared Brown is the co-founder of Hubstaff, a time-tracking and productivity management SaaS business.
Enjoyed reading these real world examples?
Our platform is full of case studies of successful time tracking apps that you can learn from.
Starting a time tracking app - what you should know:
When embarking on the journey to create a time tracking app, there are several crucial factors that can significantly influence the overall cost.
Project Scope and Feature Set
The complexity of your app, in terms of features, will directly impact development costs. Basic time tracking functionalities such as clock-in/out, time logs, and project management tools may cost between $20,000 to $50,000. However, adding advanced features like automated invoicing, payroll integration, and detailed analytics can push the cost upwards to $80,000 or more. Additionally, incorporating multi-platform support (iOS, Android, web) can further increase costs by 30-40%.
Team Composition and Location
The cost of development is highly dependent on the geographic location of your development team. For example, hiring developers from North America or Western Europe may cost between $100 to $200 per hour. In contrast, developers in Eastern Europe or Asia may charge between $30 to $80 per hour. A diversified team composed of UX/UI designers, backend developers, and quality assurance specialists can also elevate the budget but ensure a higher-quality product.
Technology Stack
The choice of technology stack plays a significant role in determining development costs. Utilizing open-source frameworks such as React or Vue for the frontend and Node.js or Django for the backend can reduce costs. On the other hand, opting for proprietary technologies or custom solutions can add an additional $10,000 to $20,000 to the budget. Additionally, integrating third-party services (e.g., payment gateways, cloud storage) will incur extra costs, typically ranging from $5,000 to $15,000 depending on the service's complexity and usage.
Ongoing Maintenance and Updates
Launching the app is merely the beginning. Continuous maintenance, bug fixing, and feature enhancements are essential for long-term success. This typically costs 20-30% of the initial development cost annually. For example, if your app initially cost $50,000 to develop, you should budget an additional $10,000 to $15,000 per year for ongoing support and updates.
By understanding these key factors, you can better anticipate the financial requirements and ensure a smoother path to developing a robust and effective time tracking app.
Potential Costs of Starting a Time Tracking App
Starting a time tracking app involves various costs, ranging from development and labor fees to hosting and marketing expenses.
| Cost Category | Description | Estimated Cost |
|---|---|---|
| Development Team | Salaries for developers, designers, and project managers. | $50,000 - $150,000 per year |
| UX/UI Design | Costs for user interface and user experience design services. | $5,000 - $15,000 |
| Backend Development | Server-side development including database design and integration. | $20,000 - $60,000 |
| Frontend Development | Client-side development for iOS, Android, and web platforms. | $30,000 - $90,000 |
| Quality Assurance | Testing and quality assurance services to ensure the app is bug-free. | $5,000 - $15,000 |
| Project Management | Overseeing the development process and team coordination. | $10,000 - $25,000 |
| Domain Name | Registration of a domain name for the app's website. | $10 - $50 annually |
| SSL Certificate | Security certificate for encrypting data transferred between users and the server. | $50 - $150 annually |
| Cloud Hosting | Hosting services like AWS, Google Cloud, or Azure. | $100 - $10,000 per month (based on usage) |
| Third-Party APIs | Integration with external APIs such as payment gateways and analytics tools. | $500 - $5,000 per year |
| DevOps Services | Continuous integration, deployment pipelines, and server maintenance. | $2,000 - $10,000 per year |
| Marketing | Marketing efforts including SEO, content marketing, and paid advertising. | $5,000 - $50,000 |
| Legal Fees | Costs for legal considerations such as privacy policy, terms of service, and intellectual property rights. | $1,000 - $10,000 |
| Customer Support | Setting up customer support including tools and personnel. | $2,000 - $20,000 per year |
| App Store Fees | Fees for placing the app in app stores like Apple App Store and Google Play Store. | $99 - $299 annually |
| Analytics and Monitoring Tools | Tools for tracking app performance and user behavior. | $1,000 - $5,000 per year |
The above table covers the major costs associated with starting a time tracking app, but keep in mind that costs may vary based on the scope, scale, and specific needs of your project.
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Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
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