mobile phone app business plan

Mobile App Business Plan Template

Written by Dave Lavinsky

Mobile App Business Plan

Over the past 20+ years, we have helped over 5,000 entrepreneurs and business owners create business plans to start and grow their mobile app development company. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through a mobile app business plan template step-by-step so you can create your plan today.

Download our Ultimate Mobile App Business Plan Template here >

What is a Mobile App Business Plan?

A business plan provides a snapshot of your mobile app as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan for an App Company

If you’re looking to launch a mobile app or grow your existing mobile app you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your mobile app in order to improve your chances of success. Your business plan is a living document that should be updated annually as your company grows and changes.

Source of Funding for Mobile App Companies

With regards to funding, the main sources of funding for a mobile app are personal savings, credit cards, bank loans, angel investors and venture capitalists. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable. But they will want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business.

The second most common form of funding for a mobile app is angel investors. Angel investors are wealthy individuals who will write you a check. They will either take equity in return for their funding, or, like a bank, they will give you a loan.

Venture capitalists will also fund a mobile app and will take equity in return for their funding, VC funding generally comes after you’ve received initial proof of the mobile app concept or traction with your app.

Finish Your Business Plan Today!

How to write a business plan for a mobile app development company.

A comprehensive business plan for an app company should include the 10 sections as follows:

Executive Summary

• Company Overview

Industry Analysis

Customer analysis, competitive analysis, marketing plan, operations plan, management team, financial plan.

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of app business you are operating and the status; for example, are you a startup, do you have a mobile app that you would like to grow, or do you already have several successful app businesses?

Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the mobile app industry. Discuss the type of mobile app you are operating. Detail your direct competitors. Give an overview of your target audience. Provide a snapshot of your marketing strategy. Identify the key members of your team. And offer an overview of your financial plan.

Company Analysis

In your company overview, you will provide a detailed description of your mobile app business.

For example, you might operate one of the following types:

• Business app : this type of mobile app generally helps increase productivity and/or decrease costs.
• Entertainment app : this type of mobile app includes news, social networking, music, video, etc.
• Lifestyle app : this type of mobile app includes things like fitness, shopping, dating, etc.
• Education app : this type of app must have the primary objective of advancing a user’s knowledge and overall breadth in a particular subject.
• Utility app : this type of app includes things like scanners, trackers, health-related apps, cell service providers, etc.
• Travel app : this type of app aids in planning and booking trips.
• Other app : there are a limitless number of areas in which a successful app could be created

In addition to the business description, the Company Analysis section of your business plan needs to provide background on the business.

Include answers to questions such as:

• When and why did you start the business?
• What is your company history?
• What is your mission statement?
• What is your business idea or app idea?
• What is your business model or monetization strategy (i.e., freemium, subscription, in-app purchases, affiliate marketing, crowdfunding, paid apps, sponsored content, etc.)?
• What milestones have you achieved to date? Milestones could include sales goals you’ve reached, new store openings, etc.
• Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

In your industry analysis, you need to provide an overview of your app development business.

While this may seem unnecessary, it serves multiple purposes.

First, researching the mobile app industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your strategy particularly if your research identifies market trends. For example, if there was a trend towards quiz apps, it would be helpful to ensure your plan incorporates gamification into your app.

The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section:

• How big is the app industry (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential market for your mobile app? You can calculate this figure by multiplying the size of your target customer market by the amount they might spend per year on your app.

The customer analysis section must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: business operations managers, college students, sports enthusiasts, soccer moms, techies, teens, baby boomers, etc.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of mobile app you operate. Clearly, baby boomers would want different pricing and product options, and would respond to different user engagement strategies than teens.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the business types (if B2B), ages, genders, locations and income levels of the customers you seek to serve.

Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.

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Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other app businesses in your niche.

Indirect competitors are other options that customers have to achieve similar results to what your app offers.

With regards to direct competition, you want to detail the other app development companies with which you compete. Most likely, your direct competitors will be mobile app businesses offering the same type of service or activity that yours does.

For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:

• What types of customers do they serve?
• What products do they offer?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you provide superior features?
• Will you provide better customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For an app business, your marketing plan should include the following:

Product : in the product section, you should reiterate the type of mobile app that you documented in your Company Analysis. Then, detail the specific features of your app.

Price : Document how you will price your app and if there will be different pricing levels (e.g., free, entry, premium) and what those levels will be.

Place : Place refers to your distribution method. Document how customers can download your app (e.g., from your website, the Apple App Store, Google Play, etc.).

Promotions : the final part of your mobile app marketing plan is the promotions section. Here you will document how you will drive customers to your app(s). The following are some promotional methods you might consider:

• Social media marketing strategy
• Advertising in magazines, newspapers and/or trade journals
• Reaching out to local bloggers and websites
• Pay per click advertising

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your mobile app such as writing code, building upgrades, fixing bugs, providing customer service, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect your 10,000th app install, or when you hope to reach $X in sales. It could also be when you expect to hire your Xth employee or launch a new location.

To demonstrate your mobile app’s ability to succeed as a business, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally you and/or your team members have direct experience in app development business. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory team. An advisory team would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in mobile apps and/or successfully running small businesses.

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet and cash flow statements.

Income Statement : an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you have 100 downloads per week or 200? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets : While balance sheets include much information, to simplify them to the key items you need to know about, balance sheets show your assets and liabilities. For instance, if you spend $100,000 on building out your mobile application, that will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $100.000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement : Your cash flow statement will help determine how much money you need to start or grow your business, and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.

In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in an app startup or growing mobile app company:

• Cost of equipment like computers, data warehousing, etc.
• Payroll or salaries paid to staff and independent contractors
• Business insurance
• Taxes and permits
• Legal expenses

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your store design blueprint or location lease.

Free Business Plan Template for a Mobile App Business

You can download our mobile app business plan PDF template . Our sample mobile app business plan would also be a helpful resource for writing your own business plan.

Mobile App Business Plan Summary

Putting together a business plan for a mobile app will improve your company’s chances of success. The process of developing your plan will help you better understand your target audience, your competition, and your business strategy. You will also develop the marketing strategies needed to better attract and serve your target market, an operations plan to focus your efforts, and financial projections that give you business goals to strive for and keep your company focused.

Growthink’s Ultimate Mobile App Business Plan Template allows you to quickly and easily complete your Mobile App Business Plan.  

Additional Resources for a Mobile App Startup

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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 planning advisors can create your business plan for you.

Other Helpful Business Plan Articles & Templates

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.

Sample Business Plan for a Mobile App Development Company

Below are links to an example of 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 comprehensive 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, business description, company history, mission statement, monetization strategy and milestones achieved.
• Industry Analysis – In the Industry Analysis section, you will use information from your market research to discuss the market demand for your mobile application or business idea, 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 – The Competitive Analysis 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 platform placements (Apple App Store, Google Play, etc.), pricing strategy, and marketing strategies for engaging your target audience.
• Operations Plan – The Operations Plan section of your mobile app business plan will describe your business operations including app development, customer acquisition strategy, and other key aspects of your app company.
• Management Team – The Management Team section will provide information on the management members of your advisory 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 Development Companies?

There are many types of mobile app companies across a variety of categories. There are mobile app businesses 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 businesses 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 businesses 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 businesses 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, in-app purchases, 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.

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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Guide to writing a business plan for a mobile app business

✓ Updated on 25 April 2024

Mobile app business plans

Thinking of developing a mobile app? Done properly, app development requires a significant investment of time, money and resources. And therefore some careful consideration before you proceed. 

Writing a business plan for a mobile app business, in advance of any development, can really help to clarify your vision as well as identify the steps you need to take to maximise the return on your investment.

We’ve written about how to make an app . But in order to make sure your app pays for itself and provides an income , you really need to make sure you have an app business plan in place.

How to write a business plan for an app:

Make sure you’ve taken the right factors into account

What problem are you aiming to solve with your app?

It’s vital to understand what your competitors are already doing – and how your app will improve on this

Think about your app’s USP and how it benefits your users

No matter how good your mobile app business idea, good financial management will ultimately be key to its success

You will need to give some considerable thought to how you plan to market your app

1. Decide what to consider when writing a mobile app business plan

Mobile apps are continuing to grow in popularity year on year – in fact, mobile apps are projected to hit $188.9 billion in revenue by 2020 – up from just $88billion in 2016 ( Statista ).

It doesn’t seem entirely unreasonable to wonder  what the future holds for mobile apps  – and whether the market is already saturated.

And yet technology is constantly changing (think about the rise of voice-based apps such as Google Home, Amazon’s Alexa and Apple’s Siri for instance) along with consumer habits and expectations. 

So there is no doubt that the demand is still there for apps that can genuinely be shown to be more innovative and more engaging than their competitors.

Whatever your business, writing a business plan takes time. But it’s an iterative process can and one that can be hugely helpful in clarifying exactly what you want to achieve in the development of your own app.

So what are some of the key points you might want to consider when putting together a business plan for your mobile app?

To get you started, here is a app business template:

App business plan template

• Executive summary
• Company overview and business goals
• Industry analysis
• Customer analysis
• Competitive analysis and market research
• Marketing strategy plan
• Operational plan
• Management team (if you have one!)
• Financial plan and forecast

2. Define what kind of app do you want to develop

It is tempting to rush into the development of an app simply because other businesses similar to yours already have one.

But it’s worth giving some genuine thought to the ‘problem’ that you aim to solve with the creation of an app.

Businesses build apps for all sorts of reasons, such as branding, improving customer engagement, direct marketing etc. 

But as online publishing platform  Medium  says “Ultimately an effective mobile strategy involves more than just a mobile friendly website.”

3. Research your market

Once you have identified  why  the marketplace needs you to develop the app, it is vital to understand what your competitors are already doing – and how your app will improve on this.

When  conducting market research , you should look at both primary and secondary data and consider key information such as include the size of your market as well as a thorough understanding of pricing. 

A  SWOT analysis  can be useful for understanding your business’ Strengths, Weaknesses, Opportunities and Threats. 

LivePlan  explains “Strengths and weaknesses are internal to your company—things that you have some control over and can change. Examples include who is on your team, your patents and intellectual property, and your location.

“Opportunities and threats are external—things that are going on outside your company, in the larger market. You can take advantage of opportunities and protect against threats, but you can’t change them. Examples include competitors, prices of raw materials, and customer shopping trends.”

Building on this, there is also a value in conducting a  PEST analysis  to look at macro economic factors that may influence your business.  These are opportunities and threats due to Political, Economic, Social, and Technological forces. 

Pestle Analysis  explains these four areas in more detail: 

• Political   Here government regulations and legal factors are assessed in terms of their ability to affect the business environment and trade markets. The main issues addressed in this section include political stability, tax guidelines, trade regulations, safety regulations, and employment laws.
• Economic   Through this factor, businesses examine the economic issues that are bound to have an impact on the company. This would include factors like inflation, interest rates, economic growth, the unemployment rate and policies, and the business cycle followed in the country.
• Social   With the social factor, a business can analyze the socio-economic environment of its market via elements like customer demographics, cultural limitations, lifestyle attitude, and education. With these, a business can understand how consumer needs are shaped and what brings them to the market for a purchase.
• Technological   How technology can either positively or negatively impact the introduction of a product or service into a marketplace is assessed here. These factors include technological advancements, lifecycle of technologies, the role of the Internet, and the spending on technology research by the government.

4. Define your app’s unique selling point (USP)

So what problem does your app actually solve? What makes it different from all the other apps out there? Any why will someone download your app rather than another, similar one?

Identifying your app’s unique selling point (USP) is a useful exercise in really understanding what you plan to do that’s different to everyone else. 

It can also help you develop an ‘ elevator pitch ’ – a 20 second, one or two line summary that comprehensively explains your product. And which could, as the phrase suggests, be articulated to a potential investor between the floors of a buildings – should you be lucky enough to find yourself in a lift with someone on the lookout for your product! 

5. Understand your budget and how your app will make money

No matter how good your mobile app business idea, good financial management will ultimately be key to its success.

How, for instance, are you going to make money from your app? You might decide on a freemium model, where basic features are free but full functionality is hidden behind a paywall. You might prefer in-app advertising. Or your app might be for solely for in-app purchases. 

It is reassuring to know that  it is possible to develop a mobile app on a tiny budget  – but that budget still needs careful management.

Alongside all the usual business plan financial headings, you should also consider costs that are specific to app development. 

These can include customer acquisition cost, which  Appster  elaborates as cost per app install or CPI, suggesting “If you want to go one level deeper and be more exact, find out the cost per activation, keeping in mind that there will be a percentage of users who might install the app, and then uninstall it without engaging with the app.”

6. Decide how you plan to market your app

Developing an app is one thing but getting it to arguably saturated marketplace, with good take up is quite another.  

You will therefore need to give some considerable thought to how you plan to market your app once it is built (and possibly even before you have launched it). 

And so taking the time to put together a  marketing plan for your mobile app business  can pay dividends after launch.

Looking for a hand with writing a business plan for your mobile app business?  

If you would like a steer developing a business plan for your mobile app business, then the team at Creative.onl would love to help.

We are a friendly bunch with expertise across all of the following areas: 

• Digital strategy 
• UX design 
• App development
• Web development 
• Responsive web design
• Graphic design
• Video animation 
• Marketing support 

And we would love to help you with any aspect of your digital marketing strategy.

Whatever you are looking for,  get in touch with Creative.onl  to talk through the creative process.

App business plan FAQ

A mobile app business plan is exactly what is sounds like: a business plan, created specifically for a business based on launching a mobile app. Any startup business should have a business plan, and mobile app businesses are no exception.

Follow our 6-step process, and include the following 9 sections: • Executive summary • Company overview and business goals • Industry analysis • Customer analysis • Competitive analysis and market research • Marketing strategy plan • Operational plan • Management team (if you have one!) • Financial plan and forecast

If you feel that you have the expertise then you can go ahead and write your own app business plan yourself, without spending a penny: totally free. Or if you’d like some professional help, you can commission an app launch specialist like Creative.onl to write one for you: this might cost anything from £500 to £5000, depending on the level of support needed.

Every business is unique, whether it’s a mobile app business or otherwise. So this means that every mobile app business plan is also one-of-a-kind of tailored specifically to the business in question. But having said that, most app business plans follow the rough format we detailed, with emphasis added or removed from each section.

Send us an email to [email protected] and let us know what you need, we should be able to provide you with a PDF template.

✓ Reviewed by Joe Dawson , Managing Director

How To Write a Winning Mobile App Development Business Plan + Template

Creating a business plan is essential for any business, but it can be especially helpful for mobile app development businesses looking to improve their strategy or raise funding.

A well-crafted business plan not only outlines the vision for your company, but also documents a step-by-step roadmap of how you are going to accomplish it. In order to create an effective business plan, you must first understand the components that are essential to its success.

This article provides an overview of the key elements that every mobile app development business owner should include in their business plan.

Download the Ultimate Mobile App Business Plan Template

What is a Mobile App Development Business Plan?

A mobile app development business plan is a formal written document that describes your company’s business strategy and its feasibility. It documents the reasons you will be successful, your areas of competitive advantage, and it includes information about your team members. Your business plan is a key document that will convince investors and lenders (if needed) that you are positioned to become a successful venture.

Why Write a Mobile App Development Business Plan?

A mobile app development business plan is required for banks and investors. The document is a clear and concise guide of your business idea and the steps you will take to make it profitable.

Entrepreneurs can also use this as a roadmap when starting their new company or venture, especially if they are inexperienced in starting a business.

Writing an Effective Mobile App Development Business Plan

There are a few key components of a successful mobile app development business plan.

Executive Summary

The executive summary of a mobile app development business plan is a one- to two-page overview of your entire business plan. It should summarize the main points, which will be presented in full in the rest of your business plan.

• Start with a one-line description of your mobile app development company
• Provide a short summary of the key points in each section of your business plan, which includes information about your company’s management team, industry analysis, competitive analysis, and financial forecast among others.

Company Description

This section should include a brief history of your company. Include a short description of how your company started, and provide a timeline of milestones your company has achieved.

If you are just starting your mobile app development business, you may not have a long company history. Instead, you can include information about your professional experience in this industry and how and why you conceived your new venture. If you have worked for a similar company before or have been involved in an entrepreneurial venture before starting your mobile app development firm, mention this.

You will also include information about your chosen mobile app development business model and how, if applicable, it is different from other companies in your industry.

Industry Analysis

The industry or market analysis is an important component of a mobile app development business plan. Conduct thorough market research to determine industry trends and document the size of your market. 

Questions to answer include:

• What part of the mobile app development industry are you targeting?
• How big is the market?
• What trends are happening in the industry right now (and if applicable, how do these trends support the success of your company)?

You should also include sources for the information you provide, such as published research reports and expert opinions.

Customer Analysis

This section should include a list of your target audience(s) with demographic and psychographic profiles (e.g., age, gender, income level, profession, job titles, interests). You will need to provide a profile of each customer segment separately, including their needs and wants.

For example, a mobile app development business’ customers may include small businesses that need an app to increase their customer base and reach new markets.

You can include information about how your customers make the decision to buy from you as well as what keeps them buying from you.

Develop a strategy for targeting those customers who are most likely to buy from you, as well as those that might be influenced to buy your products or mobile app development services with the right marketing.

Competitive Analysis

The competitive analysis helps you determine how your product or service will be different from competitors, and what your unique selling proposition (USP) might be that will set you apart in this industry.

For each competitor, list their strengths and weaknesses. Next, determine your areas of competitive differentiation and/or advantage; that is, in what ways are you different from and ideally better than your competitors.

Marketing Plan

This part of the business plan is where you determine and document your marketing plan. . Your plan should be clearly laid out, including the following 4 Ps.

• Product/Service : Detail your product/service offerings here. Document their features and benefits.
• Price : Document your pricing strategy here. In addition to stating the prices for your products/services, mention how your pricing compares to your competition.
• Place : Where will your customers find you? What channels of distribution (e.g., partnerships) will you use to reach them if applicable?
• Promotion : How will you reach your target customers? For example, you may use social media, write blog posts, create an email marketing campaign, use pay-per-click advertising, launch a direct mail campaign. Or you may promote your mobile app development business via word-of-mouth or by exhibiting at trade shows.

Operations Plan

This part of your mobile app development business plan should include the following information:

• How will you deliver your product/service to customers? For example, will you do it in person or over the phone only?
• What infrastructure, equipment, and resources are needed to operate successfully? How can you meet those requirements within budget constraints?

You also need to include your company’s business policies in the operations plan. You will want to establish policies related to everything from customer service to pricing, to the overall brand image you are trying to present.

Finally, and most importantly, in your Operations Plan, you will lay out the milestones your company hopes to achieve within the next five years. Create a chart that shows the key milestone(s) you hope to achieve each quarter for the next four quarters, and then each year for the following four years. Examples of milestones for a mobile app development business include reaching $X in sales. Other examples include developing new products or services, launching a new website, hiring new employees, and so on.

Management Team

List your team members here including their names and titles, as well as their expertise and experience relevant to your specific mobile app development industry. Include brief biography sketches for each team member.

Particularly if you are seeking funding, the goal of this section is to convince investors and lenders that your team has the expertise and experience to execute on your plan. If you ar e missing key team members, document the roles and responsibilities you plan to hire for in the future.

Financial Plan

Here you will include a summary of your complete and detailed financial plan (your full financial projections go in the Appendix). 

This includes the following three financial statements:

Income Statement

Your income statement should include:

• Revenue : how much revenue you generate.
• Cost of Goods Sold : These are your direct costs associated with generating revenue. This includes labor costs, as well as the cost of any equipment and supplies used to deliver the product/service offering.
• Net Income (or loss) : Once expenses and revenue are totaled and deducted from each other, this is the net income or loss.

Sample Income Statement for a Startup Mobile App Development Company

Balance Sheet

Include a balance sheet that shows your assets, liabilities, and equity. Your balance sheet should include:

• Assets : All of the things you own (including cash).
• Liabilities : This is what you owe against your company’s assets, such as accounts payable or loans.
• Equity : The worth of your business after all liabilities and assets are totaled and deducted from each other.

Sample Balance Sheet for a Startup Mobile App Development Company

Cash Flow Statement

Include a cash flow statement showing how much cash comes in, how much cash goes out and a net cash flow for each year. The cash flow statement should include:

• Cash Flow From Operations
• Cash Flow From Investments
• Cash Flow From Financing

Below is a sample of a projected cash flow statement for a startup mobile app development business.

Sample Cash Flow Statement for a Startup Mobile App Development Company

You will also want to include an appendix section which will include:

• Your complete financial projections
• A complete list of your company’s business policies and procedures related to the rest of the business plan (marketing, operations, etc.)
• Any other documentation which supports what you included in the body of your business plan.

Writing a good business plan gives you the advantage of being fully prepared to launch and/or grow your mobile app development company. It not only outlines your business vision but also provides a step-by-step process of how you are going to accomplish it.

A well-written business plan is essential for any mobile app development company. It can attract investors, provide clarity and direction, and keep you organized and on track as you grow your business.

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Best Mobile App Development Business Models

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Mobile App Development Business Plan

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Value Proposition

AppHero provides cutting-edge, tailor-made app development solutions to businesses, helping them expand their reach and boost customer engagement through seamless, user-friendly mobile applications.

The Problem

Businesses seeking to enhance their digital presence struggle to find reliable, affordable, and high-quality app development services that can deliver customized mobile applications that meet their specific needs.

The Solution

AppHero offers comprehensive app development services, including consultation, design, development, testing, and maintenance, to deliver fully customized, high-quality mobile applications that cater to each client’s unique business requirements and target audience.

Target Market

The primary market for AppHero is small and medium-sized businesses looking to establish or improve their mobile presence. The secondary target market includes startups in need of app development services to launch their innovative ideas into the market.

Small and medium-sized businesses are the primary target market:

• They require affordable yet high-quality app development solutions.
• They want a reliable partner to guide them through the app development process.
• They need customized mobile applications that cater to their unique business needs and audience preferences.

Competitors & Differentiation

Current alternatives.

• Freelance app developers
• Other app development agencies
• In-house app development teams

AppHero stands out from the competition by offering fully customized app development solutions, a dedicated team of experienced professionals, and a commitment to delivering exceptional customer service. Our transparent pricing model, coupled with our efficient project management approach, ensures that clients receive high-quality mobile applications within their budget and timeline.

Funding Needs

AppHero requires $100,000 in initial funding to cover operating expenses, marketing efforts, software and hardware purchases, and other startup costs.

Sales Channels

• Official AppHero website
• Social media platforms
• Networking events
• Referrals from existing clients

Marketing Activities

• Content marketing through blog posts and articles
• Social media campaigns
• Google Ads and targeted advertising
• Partnerships with industry influencers

Financial Projections

• 2023: $250,000
• 2024: $375,000
• 2025: $525,000

Expenses/Costs:

• 2023: $175,000
• 2024: $225,000
• 2025: $300,000
• 2023: $75,000
• 2024: $150,000
• 2025: $225,000
• Secure initial funding – June 1, 2023
• Launch official AppHero website – July 15, 2023
• Acquire first 10 clients – September 30, 2023
• Complete 20 app development projects – December 31, 2023
• Expand team with additional developers – March 1, 2024
• Reach $500,000 in annual revenue – December 31, 2025

Team and Key Roles

Ceo & lead developer:.

Oversees overall business operations, client management, and leads the app development team.

Project Manager:

Coordinates app development projects, ensuring timely delivery, and efficient resource allocation.

UI/UX Designer:

Creates visually appealing, user-friendly app interfaces that meet client requirements.

Marketing Manager:

Develops and executes marketing strategies to attract new clients and enhance brand visibility.

Partnerships & Resources

The purpose of these partnerships and resources is to enhance AppHero’s capabilities, reputation, and reach in the app development industry. Collaborating with these organizations and leveraging their expertise will allow us to deliver more comprehensive solutions to our clients, stay updated on the latest industry trends and technologies, and contribute to the growth of our brand.

• Technology Partners: Aligning with leading technology companies such as Apple, Google, and Microsoft will allow AppHero to access the latest developer tools, resources, and training programs. These partnerships will enable us to stay up-to-date with the latest platform updates, ensuring our apps remain compatible and optimized for various devices and operating systems.
• Design Agencies: Partnering with design agencies will help us provide an exceptional user interface (UI) and user experience (UX) designs for our clients’ apps. These collaborations will ensure that our apps not only function flawlessly but also deliver visually appealing and user-friendly experiences.
• Digital Marketing Firms: Collaborating with digital marketing firms will enable AppHero to offer our clients end-to-end solutions, including app promotion, user acquisition, and engagement strategies. These partnerships will help our clients maximize the potential of their apps, driving downloads and user engagement.
• Industry Associations: Joining app development industry associations such as the Application Developers Alliance or the International Game Developers Association will provide AppHero with networking opportunities, access to industry events, and valuable resources. These memberships will also increase our credibility and showcase our commitment to delivering high-quality app development services.
• Educational Institutions: Partnering with local colleges and universities can help AppHero recruit talented graduates and interns, ensuring a steady pipeline of skilled app developers. These partnerships may also present opportunities for collaborating on research projects or offering guest lectures, further strengthening our ties to the local tech community.
• Mentorship & Incubator Programs: Participating in mentorship programs and joining startup incubators can provide AppHero with valuable guidance, resources, and networking opportunities. These initiatives can help us refine our business strategy, connect with potential clients or investors, and gain insights into industry best practices.

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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!

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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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Mobile App Business Plan

Are you ready to revolutionize the mobile app industry? On this page, you will discover the essential steps to launch your own successful mobile app startup . 

In the digital era we live in, mobile apps have become an integral part of our lives, offering convenience, entertainment, and endless possibilities. If you’re ready to turn your brilliant mobile app idea into a thriving startup, this comprehensive guide is your roadmap to success. We’ll explore crucial topics like creating a mobile app development plan, selecting the optimal app for business planning, understanding the mobile app business model, launching a business app, establishing an app development company, effective marketing strategies for your mobile app, and crafting a compelling business plan for your tech startup. Let’s dive in!

Developing a Mobile App Business Plan

Before diving into the mobile app development process, it is crucial to have a well-defined plan. Start by identifying your target audience, understanding their needs and pain points. Conduct market research to analyze the competition and identify opportunities. Outline your app’s features and functionalities, and create a development timeline with clear milestones. Define the technology stack, choose the appropriate platforms (iOS, Android, or both), and establish a budget for development and ongoing maintenance.

Choosing the Best Mobile App for Business Planning

When it comes to business planning, having the right tools is essential. Look for mobile apps that cater specifically to business planning needs. These apps typically offer features such as financial projections , budgeting tools, goal tracking, and collaboration capabilities. Research and compare different options to find the one that aligns with your specific requirements and integrates seamlessly with your business processes.

Understanding the Mobile App Business Model

To build a successful mobile app startup, you need to understand the various business models available. Common mobile app business models include: 

Freemium: Offering a basic version of the app for free and charging for premium features or upgrades.

In-App Purchases: Providing additional content, virtual goods, or services within the app that users can purchase.

Subscription: Charging users a recurring fee to access the app or its premium features on a monthly or annual basis.

Advertising: Generating revenue through in-app advertising or partnerships with advertisers.

Sponsorship: Collaborating with brands or businesses to promote their products or services within the app.

Choose a business model that aligns with your app’s value proposition, target audience, and revenue goals.

Creating a Business App

Creating a business app involves understanding unique needs, providing solutions, and streamlining processes. Prioritize user-friendly interfaces, seamless integration, and regular updates based on feedback. Develop a mobile app to enhance engagement, streamline operations, and drive growth. Identify audience needs, design a user-friendly app, integrate with existing systems, and iterate for success.

Starting a Mobile App Company

If you aspire to start an app development company, consider the following steps:

Define your niche: Identify a specific industry or market segment to specialize in. This will help differentiate your company and target a specific audience.

Build a talented team: Assemble a team of skilled professionals, including app developers, designers, project managers, and marketers.

Establish partnerships: Collaborate with other businesses, agencies, or freelancers to leverage their expertise or fill skill gaps.

Create a portfolio: Develop a portfolio of successful apps or prototypes to showcase your skills and attract clients.

Market your company: Utilize digital marketing strategies, attend industry events, and network with potential clients to generate awareness and build a reputation.

Marketing Strategies for a Mobile App

Marketing plays a crucial role in the success of your mobile app startup. Some effective marketing strategies for mobile apps include:

App Store Optimization (ASO): Optimize your app’s name, description, keywords, and visuals to improve its visibility in app store search results.

Social Media Marketing: Leverage popular social media platforms to create engaging content, interact with your target audience, and build a community around your app.

Influencer Marketing: Collaborate with influencers or industry experts who can promote your app to their followers and provide credibility.

Content Marketing: Create informative and engaging content related to your app’s niche to attract and educate your target audience.

App Install Campaigns: Run targeted advertising campaigns to drive app installs, leveraging platforms such as Google Ads, Facebook Ads, or mobile ad networks.

User Referral Programs: Incentivize your existing users to refer your app to their friends and family, offering rewards or discounts for successful referrals.

Crafting a Business Plan for a Tech Startup

A well-crafted business plan is essential for attracting investors, securing funding, and guiding your mobile app startup. Your business plan should include:

Executive Summary: Provide a concise overview of your mobile app startup, its value proposition, target market, and revenue potential.

Market Analysis: Research and analyze the target market , industry trends, competitive landscape, and potential opportunities or challenges.

Product Description: Describe your mobile app, its unique features, functionalities, and how it addresses user needs.

Marketing and Sales Strategies: Outline your marketing and sales strategies , including user acquisition, monetization, and retention plans.

Financial Projections: Present detailed financial projections , including revenue forecasts, expenses, and anticipated profitability.

Team and Management: Introduce the key members of your team, highlighting their skills, experience, and roles within the company.

Funding Requirements: Specify the funding you require to develop and launch your mobile app startup, along with potential sources of investment .

As technology continues to advance, more individuals and entrepreneurs are recognizing the potential of starting their own mobile app businesses. This surge in interest reflects the growing importance of mobile apps in various industries and the desire to capitalize on their benefits. 

Our team of mobile app business plan writers have developed a sample business plan specifically tailored for the mobile app industry in New York City, New York . This comprehensive business plan takes into account the unique characteristics and opportunities of the local market. We believe this mobile app business plan sample will be an invaluable resource for your mobile app business startup. 

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Executive Summary

“Lizzy App” (herein also referred to as “the company”), led by Founder Ava Liz, is in the strategic planning phase of developing Lizzy (herein also referred to as “the platform”), an exclusive mobile dating app designed specifically for American-born South Asians. The platform’s mission is to create a meaningful space for users to find love and companionship with like-minded people.

The online dating industry is currently undergoing a significant transformation, becoming more inclusive and adaptable to the diverse needs of various ethnic and cultural groups. However, amidst this progress, there is a unique blend of cultures that often remains overlooked—American-born South Asians. These individuals, born in the US to parents who emigrated from South Asian nations, navigate between the traditional cultures of their parents and the diverse norms of the US. As a result, they require a dating app that understands and respects their unique cultural nuances.

Lizzy aims to fill this gap by providing a platform specifically tailored to the needs of American-born South Asians, offering a unique value proposition centered around exclusivity and assured through a meticulous user vetting process. By understanding and integrating the specific requirements of this demographic into the platform, Lizzy goes beyond mere surface-level compatibility and facilitates genuine connections based on shared cultural experiences and values.

To bring this vision to life, the company is seeking a bank loan of $150,000. T he funds will be allocated toward app development, marketing initiatives, operational expenses, and other startup costs. The loan will be repaid by implementing a cash capture mechanism, primarily through tiered membership fees. Additionally, the company expects to generate additional revenue through various in-app purchases, creating a sustainable revenue stream to support the growth and sustainability of the platform. 

With a robust business strategy, a steadfast focus on customer satisfaction, and backed by a visionary Founder with a strong commitment to bridging cultural divides, Lizzy is positioned to emerge as the ultimate platform for North American-born South Asians, revolutionizing the dating experience for this unique community.

Business Overview

Lizzy App is an emerging company poised to revolutionize the dating scene for American-born South Asians through the development of the limited-access dating app, Lizzy. The key differentiating factor of the platform lies in exclusivity, as all users are required to submit an application and pass a meticulous screening process based on undisclosed criteria before being accepted into the platform. This careful vetting process ensures that users have a higher chance of connecting with like-minded individuals who share similar cultural backgrounds and values.

Lizzy’s revenue model is built upon two primary streams: membership fees and in-app purchases. The platform offers tier-based membership options that grant users access to a range of benefits and features, each available at different price points. To foster long-term commitments and establish a stable revenue stream, Lizzy implements a cash capture mechanism and offers discounts for extended membership durations. Moreover, in-app purchases provide additional avenues for revenue while enhancing the user experience with premium features and options.

Leveraging the Founder’s extensive network, Lizzy will initiate a beta launch in NYC Metro in April 2024. This beta launch will serve as a crucial phase to gather early user feedback and insights, allowing the company to make any necessary refinements before launching to the rest of the American market in June 2024. Once established in the American market, Lizzy has ambitious plans to expand its operations to the United States, reaching a larger audience of North American-born South Asians and solidifying its position as a go-to platform for meaningful connections and relationships.

Mission Statement

Our mission is to create a respectful, and exclusive digital space which enables North American-born South Asians to find meaningful connections which respect their unique blend of cultural identities.

Vision Statement 

Our vision is to create harmony within the South-Asian community; ensuring North American-born South Asians can safely and privately connect and explore one another.

Core Values

Lizzy’s culture is built upon a foundation of core values that shape the way the company interacts with customers, partners, and employees. These values are fundamental to all business activities and decisions and are deeply ingrained in the company’s ethos.

Community-Centered Approach.

The company believes in creating a platform that resonates deeply with the North American-born South Asian community. By fostering a sense of belonging and prioritizing the unique cultural values and aspirations of this demographic, Lizzy delivers a genuinely inclusive and personalized user experience.

User Safety and Secur ity.

Lizzy places the safety and security of its users at the forefront of its priorities. The company maintains stringent security measures and thorough vetting processes to ensure a safe and respectful online environment.

Excellence and Quality.

Lizzy is committed to delivering an unmatched user experience. By continually refining the platform to enhance ease of use, d esign aesthetics, and overall user satisfaction, the company strives to exceed user expectations at every touchpoint.

Collaboration and Openness.

Lizzy promotes a collaborative environment where ideas, feedback, and innovations are openly shared and valued. By actively encouraging collaboration between team members, users, and partners, Lizzy ensures a collective effort toward the betterment of the platform and overall user experience.

Uncompromising Integrity.

Upholding the highest ethical standards, Lizzy fosters a culture of trust, honesty, and transparency with team members, partners, and customers. The company treats all stakeholders fairly, ensuring transparent communication in all business activities.

Goals and Objectives

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Market analysis.

As the online dating industry evolves, understanding market trends, government regulations, and the competitive landscape is essential for positioning Lizzy for success.  This market analysis will provide a comprehensive review of these key factors, providing valuable insights into the industry that will help the company develop a winning strategy.

Global Dating App Industry

The dating application industry refers to a sector of the digital market that provides platforms or services for individuals to meet potential romantic partners. Dating applications, or dating apps, are a modern form of matchmaking, primarily accessed via smartphones and tablets. They allow users to create personal profiles, list their preferences, and search for other users who meet their desired criteria. These apps typically utilize algorithms to match users based on various factors, such as shared interests, age, geographic location, and more. Some apps also leverage advanced technologies, such as machine learning and artificial intelligence, to create more sophisticated matching mechanisms.

The global dating app industry has experienced significant growth in recent years, driven by the increasing popularity of online dating applications among young individuals, particularly millennials. The market size of the global online dating application industry was valued at $7,939.2 Million in 2022, with a projected CAGR of 7.6% from 2023 to 2030. One of the key factors contributing to the growth of online dating applications is the rise in usage among the LGBTQ+ community, who have found these platforms to be a safe and inclusive way to connect with potential partners. Moreover, the convenience and accessibility offered by smartphones and high-speed internet have fueled the adoption of dating apps worldwide.

In terms of revenue generation, the subscription segment led the market in 2022, accounting for more than 62% of the overall revenue. This dominance is attributable to the additional features offered by paid subscriptions, such as an ad-free experience, unlimited likes, and read receipts, among others. The subscription segment is anticipated to grow at a CAGR of 7.7% during the same forecast period.

Regionally, North America held the highest share, approximately 36% in the global market, largely due to the presence of major players such as Tinder and Bumble. The United States alone accounted for about 58% of the market share in this region in 2022. However, the US is anticipated to exhibit the fastest growth rate, with a projected CAGR of 7.3% during the forecast period. The Asia Pacific region, led by China and India, is also expected to witness rapid growth.

American Online Dating Industry

The American online dating industry has been experiencing steady growth, with revenue reaching $56.64 Million in 2022. This trend is set to continue with a CAGR of 2.53% in the next five years, pushing the market volume to an anticipated $66.21 Million by 2027. This growth can be attributed to the increasing number of Americans turning to online platforms to seek romantic relationships and companionship.

American Online Dating Industry Historical and Projected Revenue, 2017 to 2027 

Moreover, the number of users in the online dating market is expected to increase, with projections estimating approximately 3.05 Million users by 2027, representing a growth of 0.23 Million users compared to the figures in 2022. This upward trajectory will also be reflected in the penetration rate, which is expected to rise from 7.4% in 2023 to 7.6% by 2027. This gradual increase indicates a broader acceptance and adoption of online dating applications among the population.

In addition to the growing user base, the average revenue per user is expected to show positive growth. In 2022, the average revenue per user amounted to $63.10, and by 2027, it is projected to reach $66.56. This indicates that the industry is not only expanding in terms of user numbers but also generating higher revenue per individual user.

Market Trends 

This section provides an overview of the latest trends in the online dating industry, helping Lizzy stay ahead of the competition and identify new opportunities for growth. By examining key market drivers, consumer behavior, and industry challenges, the company can refine and innovate Lizzy’s business model to meet the evolving needs of users.

Inclusivity for Exclusivity

The online dating industry has experienced a significant shift in user preferences, with a notable focus on value-driven, niche dating platforms. Instead of engaging in mindless swiping through countless profiles, users now prioritize the search for a sense of belonging and meaningful connections within specific communities. This emerging trend is exemplified by the success of platforms like Grindr, which caters exclusively to the needs of gay, bisexual, and bi-curious men. Additionally, a diverse range of other niche dating apps has emerged, catering to users’ unique preferences, hobbies, or interests. These specialized platforms have capitalized on the demand for inclusivity by narrowing their focus to specific segments of the population, effectively transforming exclusivity into a unique selling point.

As a dating platform exclusively catering to North American-born South Asians, Lizzy is well-positioned to tap into the demand for a specialized and inclusive dating experience within this specific community. By providing a platform that understands the cultural nuances, values, and aspirations of this demographic, Lizzy will be able to create a sense of belonging and connection that is often lacking i n mainstream dating apps. With a focus on inclusivity, cultural resonance, and tailored connections, Lizzy has the potential to become the go-to dating app for individuals seeking meaningful relationships within their own cultural context, setting it apart from other generic dating platforms.

Gamification

Gamification is an emerging trend that adds an element of fun and interactivity to the online dating experience. By incorporating gaming elements into dating apps, platforms have found innovative ways to engage users and encourage interaction. Bumble’s “Ice-breaking Questions” and Tinder’s mystery game “Swipe Night” are prime examples of successful gamification strategies. These unique features created a buzz among users and even attracted new users to these apps. To introduce gaming elements, some app publishers have revamped the dating app profile by incorporating users’ interests or character types, allowing users to find potential dates based on compatibility and shared personalities. Ur My Type (UMT) stands as a notable example of this enhancement, as the app matches users based on their Myers-Briggs personality types.

In line with these trends, Lizzy will incorporate elements of gamification into the platform. This will involve Daily Login Rewards. In order to encourage users to engage with the platform on a daily basis, Lizzy will offer rewards for consecutive log-ins. These rewards will include free swipes, cumulative points that can be exchanged for in-app purchases, or other additional features and benefits. This strategy aims to maintain user engagement, foster a daily habit of using the app, and provide users with incentives to continue their interaction with Lizzy.

User Safety

Alongside the rapid rise of online dating, concerns over user safety have also escalated. In the past, dating apps have been subject to criticism for insufficient protective measures against harassment, catfishing scams, and other forms of online abuse. A survey by the Pew Research Center revealed that 10% of dating app users had endured threats of violence, 35% received unsolicited sexually explicit messages or images, 28% faced offensive language, and 9% were threatened with physical harm. In response to these concerns, the industry has started to place greater emphasis on implementing effective safety measures. Enhanced privacy settings, advanced user verification methods, and features designed to report and block abusive users are now standard requirements for dating apps.

To address user concerns over safety, Lizzy is committed to implementing robust security measures in addition to standard protocols such as data encryption and privacy protection. As part of the company’s safety strategy, Lizzy will establish a comprehensive vetting process for all users, ensuring the verification of identities and profiles to create a safer and more trustworthy platform. Additionally, Lizzy will introduce a report and block function which will allow users to report any suspicious activities and promptly block individuals who engage in inappropriate behavior. To further enhance user support, Lizzy will expand the customer support team to efficiently handle disputes, address complaints, and provide timely assistance as the user base continues to grow.

Dating App Burnout

The trend of dating app burnout is on the rise, with a majority of users experiencing stress and disappointment due to unsuccessful dates and mismatched intentions, according to recent research by Badoo. The study found that, on average, singles go on six failed dates per year and spend approximately $350 on these unsatisfactory experiences. Approximately 31% of respondents admitted they find it challenging to express their intentions out of fear of judgment, and 82% expressed a desire to be more honest about their intentions to benefit future relationships. Misunderstandings also stem from assumptions made based on people’s profiles and gender, adding to the existing frustrations.

Lizzy aims to address this issue by implementing an efficient vetting process to ensure a high-quality user pool, thus increasing the chances of successful, compatible matches. The platform will also encourage users to be open about their intentions from the outset, alleviating concerns about judgment and promoting honest communication. Additionally, Lizzy’s focus on North American-born South Asians reduces the breadth of assumptions made based on profiles, as users share a common cultural background. By recognizing and addressing the common causes of dating app burnout, Lizzy will be able to offer an enhanced, satisfying dating experience to all its users.

Government Regulations

This section outlines the various government regulations and guidelines that directly affect Lizzy’s operations in the US. Upon expansion to new territories, the company will diligently review the relevant laws and regulations in each jurisdiction with the guidance of legal consultants. This proactive approach will enable the company to mitigate potential risks of non-compliance and maintain a high level of trust and credibility with stakeholders.

USA’s Anti-Spam Legislation 

Enacted in 2014, USA’s Anti-Spam Legislation seeks to promote ethical practices in electronic messaging and to combat spam and related cyber threats. Such threats encompass identity theft, phishing, and the distribution of harmful software, including viruses, worms, and trojans, collectively known as malware.

Under the regulations of USA ASL, companies are encouraged to adopt a more disciplined approach to managing their electronic marketing programs. This entails obtaining consent before sending commercial electronic messages. Requesting consent is a crucial gesture that demonstrates businesses’ respect for consumer privacy. Moreover, it ensures that businesses engage with individuals who have a genuine interest in their products or services, leading to improved open and click-through rates.

As a company operating a digital platform, specifically an online dating app, Lizzy will be engaged in constant electronic communication with users. To ensure compliance with the CASL, Lizzy will:

• Obtain Consent: Lizzy will only send commercial electronic messages to users who have expressly given their consent. Consent will be sought during the application process, and users will have the option to revoke their consent at any time.
• Provide Identification Information: All electronic messages sent by the company will clearly identify Lizzy as the sender and provide contact information, including a physical mailing address and either a telephone number, email address, or website URL.
• Provide an Unsubscribe Mechanism: All commercial electronic messages will include a clear and simple mechanism for recipients to unsubscribe. Upon receiving an unsubscribe request, Lizzy will promptly remove the user’s contact information from the mailing list.

Competition Act 

The Competition Act is the main federal statute in the US that prescribes rules against false or misleading advertising and deceptive marketing practices. The Act prohibits making public representations that are materially false or misleading. Such representations can be reviewed under civil provisions and are prohibited under the Act’s criminal provisions. The criminal and civil provisions are identical, but the criminal offense necessitates a “knowing” or “reckless” mental state.

The Competition Bureau, the regulatory body responsible for enforcing the Act, can choose to pursue either the criminal or civil track when enforcing compliance with misleading advertising laws. Typically, the Bureau reserves the criminal track for particularly severe cases. The Act also includes specific prohibitions that apply to certain types of advertising issues, such as pricing claims, performance claims, promotional contests, testimonials, bait-and-switch selling, and sale above an advertised price. Furthermore, the Act mandates that all statements, warranties, and guarantees be backed by “adequate and proper” testing. This provision places the burden on the advertiser to substantiate any claim before it is made public.

In alignment with the provisions of the Competition Act, Lizzy commits to transparent, honest, and accurate advertising. This includes clearly representing its services, pricing, and promotional offers, and ensuring that all claims, whether related to the functionality of the app or success rates, are supported by proper evidence or testing. This practice is not only intended to maintain regulatory compliance but also to build a solid reputation for integrity and trustworthiness, which is fundamental to gaining and retaining user trust.

State Regulations

Personal Information Protection Act of New York

Since the initial user base of Lizzy will originate from the Founder’s personal network in New York, it is important to acknowledge that the state has its own private-sector privacy law, which is substantially similar to the federal PIPEDA. Generally, establishments subject to a similar provincial privacy law, such as New York’s Personal Information Protection Act, are exempt from PIPEDA with regard to the collection, use, or disclosure of personal information that occurs within the state.

PIPA is a privacy act that governs the private sector in New York, outlining how all private sector organizations must manage the personal information of employees and the public (including customers). The act establishes common-sense rules for collecting, using, and disclosing personal information, striving to balance an individual’s right to protect their personal information and an organization’s need to collect, use, or disclose personal information for reasonable purposes.

The act also grants individuals the right to access the personal information an organization holds about them and request corrections if they believe the information is incorrect or incomplete. Personal information, as defined by PIPA, includes information that can identify an individual (e.g., name, home address, home phone number, or ID number) and information about an identifiable individual (e.g., physical description, educational qualifications, or blood type). However, it does not include business contact information or work product information.

Under PIPA, personal information can be collected, used, or disclosed for practical purposes only. In the context of the act, “reasonable” refers to what a reasonable person would deem appropriate in a given situation. Factors such as the type or amount of personal information collected, the intended use of that information, and the potential recipients of that information will determine what is considered reasonable.

Competitive Analysis

The global online dating market is characterized by high competition, with dominant players influencing the industry landscape. These market leaders have successfully implemented sustainable growth strategies and are actively pursuing various methods of expansion, such as mergers, acquisitions, collaborations, and agreements. To better understand Lizzy’s position in this market, a competitive analysis has been conducted to identify the primary competitors and their respective strengths and weaknesses.

Competitor A is positioned as a dating app for South Asians to connect and engage in serious, long-term relationships, thus leaving a gap for apps which offer a space for casual connections.

Competitor B’s traditional approach to matchmaking may not resonate with modern, urban, professional South Asians looking for a more contemporary and dynamic platform like Lizzy.

Competitor C is a less tailored choice for American-born South Asians. Competitor C does not account for the cultural nuances and shared experiences that Lizzy integrates into the platform.

Products and Services

Lizzy’s primary source of revenue comes from membership fees, which are provided in various tiers tailored to the diverse needs and preferences of vetted members. Each membership tier offers different benefits, with higher tiers providing users with a greater number of daily swipes and likes, as well as unlocking exclusive features.  As part of Lizzy’s cash capture mechanism, membership fees are priced based on the duration, with discounted rates offered for longer commitments. This strategy not only encourages users to commit to a longer membership but secures a more predictable revenue for Lizzy.

To stimulate user activity and maintain consistent engagement, the number of swipes and likes is replenished after a 24-hour period. This daily renewal system keeps the platform dynamic and encourages users to interact with the platform regularly. Understanding the value of flexibility, Lizzy offers both auto-renewal and manual renewal options, allowing users to control their membership status according to their convenience.

These in-app purchases not only offer users more flexibility and control over users’ experiences but also allow Lizzy to generate additional revenue, providing a win-win for both parties.  Moreover, these additional features fulfill the desire of users to optimize their matching chances, maximize their reach, and enrich their overall dating experience. By offering these options, Lizzy enhances user satisfaction and engagement, which in turn will lead to long-term loyalty and revenue growth.

Competitive Advantages  

The following competitive advantages differentiate Lizzy from other online dating platforms:

Highly Vetted User Base: While many dating platforms struggle with fake profiles and fraudulent activity, Lizzy ensures user authenticity by meticulously vetting all users. Through referrals, social media checks, and committee reviews, Lizzy creates a secure and trustworthy environment for its users, enhancing the quality of interactions on the platform.

Niche Market Focus: Lizzy caters specifically to North American-born South Asians, a niche often overlooked by broader dating platforms. This targeted approach eliminates the need for users to navigate through a multitude of unsuitable profiles, offering a more efficient and culturally compatible dating experience.

Limited Swiping : Unlike other platforms that bombard users with endless profiles to swipe through, Lizzy carefully curated matches for users. This approach mitigates decision fatigue and enhances the overall user experience by presenting only the most relevant matches, making each connection more meaningful.

Exclusivity: Lizzy introduces an element of exclusivity through its selective application process, distinguishing it from other dating apps. Prospective users or “applicants,” will undergo screening based on undisclosed criteria, resulting in a curated user base. This approach enhances overall user quality, attracts individuals seeking an exclusive dating experience, and fosters a safer and more genuine community.

Competitive Pricing : Lizzy offers an affordable alternative to platforms like Dil Mil, providing excellent value for money. This is achieved by combining user-focused features with a more accessible pricing model, making Lizzy a cost-effective choice for users seeking quality connections.

Ad-free Experience: Unlike many dating apps that disrupt the user experience with ads, Lizzy offers an ad-free platform. This allows users to focus on their connections and conversations without interruptions, providing a more comfortable and immersive experience.

Key Success Factors

Lizzy’s success will be driven by the following key factors:

Strategic Marketing and Branding

Effective marketing and branding strategies will play a crucial role in raising awareness and driving user adoption. Showcasing Lizzy’s unique selling points and creating a strong brand identity will be vital for attracting users, especially in the early stages of operations.

Scalability

Lizzy’s ability to scale efficiently and effectively will be key to its long-term success. The platform must be prepared to handle increased user volume and expansion into new geographical areas while maintaining its high level of service and performance.

Healthy Churn Rate

User turnover is inevitable for dating platforms, as a percentage of individuals join with the goal of finding a long-term relationship and eventually leaving the platform. Therefore, Lizzy will focus on implementing user retention strategies while also attracting new users to keep the community lively and dynamic.

Sustainable Monetization

Lizzy will strive to strike a balance between generating re venue and offering value to its users. The company will implement monetization strategies that are fair and transparent, ensuring that the prices charged align with the true value provided to users.

Continuous Innovation

The digital landscape, especially the dating app market, is continually evolving. To stay competitive, Lizzy will continuously innovate, introducing new features and improving user experience based on market trends and user feedback.

Customer Service Excellence

Providing exceptional customer service will enhance user satisfaction and loyalty. Lizzy will strive to offer responsive, empathetic, and effective customer support, resolving user issues promptly and professionally.

Sales and Marketing Plan

The sales and marketing plan lays out the company’s strategy for expanding Lizzy’s user base and growing the community. This section examines the key channels the company will use to promote its services, as well as the metrics that will be used to gauge success. Additionally, the plan will identify the strengths and weaknesses of the company, opportunities for growth and expansion, and potential threats that could impact business operations.

Target Customers

Lizzy will primarily cater to American-born South Asians, also referred to as “second-generation South Asians.” According to the American Government’s Classification of Generation Status, the term “second-generation” refers to individuals who were born in the US and have at least one parent born outside of the country. This classification essentially represents the children of immigrants.

The platform will initially launch in NYC Metro, a vibrant region with a robust South Asian community. In this area alone, there are approximately 40,640 American-born South Asians within the 20 to 54 age group, providing an excellent launchpad for Lizzy. The initial focus on a geographically confined area will allow the company to build a strong local presence and gather valuable feedback for refining the platform.

Following three months of intensive beta testing and platform refinement, Lizzy intends to roll out the platform to the rest of the American market. Nationally, there are roughly 230,000 American-born South Asians aged between 20 and 54. This population is expected to increase at a CAGR of 10.17% to reach approximately 550,000 by the year 2030. These statistics indicate a promising future for Lizzy in the American market, presenting ample opportunities for growth and success.

Furthermore, Lizzy has long-term plans to expand to the United States, a move that will provide access to an even larger pool of potential users. This planned expansion is another strategic step in positioning Lizzy as the premier dating platform for American-born South Asians, extending its reach beyond the American market.

American-Born South Asians

American-born South Asians represent a unique segment of the USA’s diverse population. Born in the US to parents who emigrated from South Asian nations such as India, Pakistan, Bangladesh, Sri Lanka, and others, these individuals straddle two worlds—the traditional South Asian cultures of their parents and the diverse, multicultural norms of the US. This group, while inherently familiar with American societal norms, maintains a deep connection with their South Asian roots through family customs, food, language, and more. Being born and growing up in the US, they often face unique challenges when it comes to dating and finding a suitable partner. The cultural nuances, expectations, and traditions of their heritage can sometimes clash with Western norms, making it difficult for them to find someone who understands and appreciates both aspects of their identity.

American-born South Asians trace their roots to a variety of regions across the South Asian subcontinent. Notably, individuals of Indian descent represent the largest segment within this demographic, constituting over half of the population. Other significant sub-groups include those of Punjabi, Pakistani, Sri Lankan, Tamil, Bangladeshi, Gujarati, Jatt, and Bengali descent, as well as those who identify more generally as South Asian without specifying a particular country or region.

Key Channels

Lizzy’s marketing plan hinges on a multi-tiered approach to connect with American-born South Asians who form the core of its user base. The Founder’s personal network will serve as a launchpad for the initial phase, while Instagram, TikTok, Facebook,  and Youtube will be key platforms for outreach given their popularity among the target demographic. The marketing approach will be designed around the marketing funnel, concentrating on various stages including awareness, consideration, conversion, loyalty, and advocacy.

At this stage, the company’s objective is to make the target demographic aware of Lizzy and its unique value proposition. This involves highlighting the features and benefits of Lizzy, building a strong brand presence, and generating excitement within the community to capture the interest of potential users. As this is the first point of contact between Lizzy and potential users, efforts will be focused on creating a positive and compelling impression.

Founder’s Personal Network: The founder possesses a strong network of individuals who have a significant number of followers. By leveraging these connections, Lizzy can tap into a sizable pool of potential users. It is anticipated that each of the 30 contracts will bring in approximately 10 users, leading to an estimated initial user base of 300 individuals.

Paid Social Media Ads : Lizzy will run targeted paid advertising campaigns on popular platforms such as Instagram, Facebook, TikTok, and YouTube. Leveraging advanced targeting options, these ads will reach individuals interested in dating apps or related content. By utilizing these platforms, Lizzy aims to enhance visibility, connect with a larger, more specific audience, and effectively communicate its unique value proposition through culturally relevant and engaging advertisements.

Influencer Collaborations: Lizzy plans to collaborate with influencers who have a significant following within the American South Asian community. These influencers will play a vital role in introducing Lizzy to their followers, creating a buzz around the brand. Collaborators will be carefully selected based on their credibility and alignment with Lizzy’s brand values.

Public Relations: Lizzy will also engage in public relations activities, such as issuing press releases, to local media outlets and South Asian-centric publications. This will help increase brand visibility, build credibility, and reach potential users who may not be active on the aforementioned social media platforms.

Website: To attract organic traffic to the website and position Lizzy as a trusted authority in the niche dating market, the company will invest in creating high-quality website content optimized for search engine optimization (SEO). This will include informative articles, blog posts, and guides related to dating, relationships, and South Asian cultural topics.

Consideration

In the consideration stage, the objective is to engage the interest of potential users and nurture them into becoming Lizzy users. This stage involves a detailed showcasing of the platform, its unique features, and the benefits users can experience from it. Here, the focus is on strengthening the connection between Lizzy and potential users, persuading them to consider Lizzy as their preferred dating app.

Organic Social Media Engagement: To build a stronger connection with potential users, Lizzy will engage in organic social media activities. These activities will be tailored to each platform:

• Instagram: Lizzy will regularly post visually appealing images and videos showing the app in use, user testimonials, and content that resonates with the cultural nuances of the target demographic. Instagram Stories will also be used for limited-time content and to engage followers with interactive elements like polls and questions.
• Facebook: While also sharing similar content as on Instagram, Facebook will be used to foster a community around the Lizzy brand. This includes creating a Facebook Group for users and potential users to interact, ask quest ions, and share their experiences.
• TikTok: Lizzy will create and share engaging, short-form video content on TikTok. This includes tutorials on using the app, highlighting unique features, and other culturally relevant content.
• YouTube: Long-form video content will be created for YouTube. This includes detailed walkthroughs of the app, interviews with successful matches, and content about love and dating within the South Asian community in the US.

Lead Capturing Landing Pages: Lizzy will create targeted landing pages designed to capture the contact details of potential users. These landing pages will include a prominent call to action, encouraging visitors to provide their email addresses in exchange for updates, exclusive information, or possible early access to the platform.

Email Marketing: Once the contact details of potential users have been captured, an email marketing campaign will be implemented. The campaign will aim to build interest and anticipation for the platform during the initial stages. In the later stages, regular newsletters will be sent out to provide more in-depth information about Lizzy, showcase success stories, and provide updates on new features.

The conversion stage is the turning point in the marketing funnel, where interested individuals take definitive action to become users of Lizzy. Given that Lizzy is an exclusive platform, this step involves completing an application process and undergoing a screening before being accepted. Both the application and screening process can be completed either via the Lizzy app or on the website, making it accessible to a wide range of users. During this stage, strategies will be centered around persuasive tactics aimed at encouraging sign-ups, membership purchases, and various in-app transactions.

User-Friendly Application Process:  Lizzy will ensure a streamlined and user-friendly application process to encourage conversions. Clear instructions and expectations will be provided from the beginning to minimize potential drop-offs and create a smooth and efficient experience for applicants.

Onboarding Program : Once a user is accepted, a comprehensive in-app onboarding program will take place to ensure they understand the platform’s various features and benefits. This not only helps in conversion but also ensures users utilize the platform to its fullest extent.

Trial Memberships: Lizzy will offer trial memberships to new users, providing them with an opportunity to explore the benefits of a full membership. These trials serve as a powerful incentive for users to convert into paying members.

Discounted Rates: To encourage long-term commitment, Lizzy will offer discounted rates on longer membership plans. This approach not only helps in securing revenue through a cash-capture mechanism but also enhances user retention by incentivizing users to choose longer subscription periods.

In-app Pop-ups: Lizzy will utilize in-app pop-ups to promote additional in-app purchases, including options such as extra likes, swipes, search options, and unlock additional features. This strategic approach aims to drive revenue while enhancing user engagement within the platform.

At this stage in the funnel, the focus is to encourage users to continue their relationship with Lizzy and consistently use the platform. Loyalty is cultivated through a positive user experience, excellent customer service, fostering a sense of community, and creating a safe and enjoyable environment where users can find meaningful connections.

Personalized User Experience: Lizzy will leverage its data-driven approach to provide a personalized experience for each user. This will involve tailored match suggestions, personalized messages, and other customized content that make users feel valued and understood.

Robust Customer Support: A critical aspect of user loyalty is the assurance of support when needed. Lizzy will provide comprehensive customer support, handling queries, concerns, and complaints promptly and professionally.

Promoting User Safety: Lizzy will promote safety features, such as the ability to report and block users, through various communication channels. By doing so, Lizzy reassures users that their safety and comfort are a top priority, thereby fostering a sense of trust and loyalty.

Regular Updates: Lizzy will maintain an ongoing commitment to improving the platform based on user feedback. This will be executed by regularly updating the platform and introducing new and exciting features.

Daily Login Rewards: In order to encourage users to engage with the platform on a daily basis, Lizzy will offer rewards for consecutive log-ins. These rewards will include free swipes, cumulative points that can be exchanged for in-app purchases, or other additional features and benefits. This strategy aims to maintain user engagement, foster a daily habit of using the app, and provide users with incentives to continue their interaction with Lizzy.

Community Engagement: Lizzy will actively engage with its user community on social media platforms. This will be done through regular posts, discussions, and interactive content. By creating a lively and interactive social media presence, Lizzy can cultivate a sense of community and belonging among its users, contributing to increased loyalty.

At this point in the marketing funnel, the objective is to turn loyal users into brand advocates. Advocacy occurs when users are so satisfied with their experience on Lizzy that they actively recommend it to others in their network. This not only provides a powerful testament to the value and quality of Lizzy but also helps attract new users to the platform through word-of-mouth. Here, the strategies will be focused on encouraging users to share their positive experiences, refer their friends, and actively promote Lizzy within their social circles.

Referral Program: A referral program will be put into place where existing users can invite their friends to join Lizzy. For each successful referral that results in a new user, the referrer will receive certain benefits such as premium features, extended memberships, or other in-app incentives. This gives existing users a compelling reason to spread the word about Lizzy.

Community-Building Events: Lizzy will host community-building events, both virtually and in person, as a means to further establish a sense of community among its users. These events can also act as a platform for users to share their positive experiences with Lizzy, reinforcing their role as advocates for the brand.

User Testimonials: Real-life success stories or testimonials from users can be a powerful form of advocacy. Lizzy will encourage users to share their experiences and stories, which can then be featured on Lizzy’s social media platforms and website. This not only promotes the brand but also adds a level of authenticity and trustworthiness to the platform.

Engagement with User-Generated Content : Encouraging users to share their Lizzy experiences on their personal social media accounts can create a viral effect. Lizzy will engage with such content by liking, sharing, or commenting on user posts, which can further boost visibility and reach.

Brand Ambassadors: Lizzy will identify power users or influencers within the Lizzy community and extend invitations to them to become brand ambassadors. These individuals will play a crucial role in promoting Lizzy within their network, generating buzz around the platform, and serving as relatable faces for the Lizzy brand. Their endorsement and engagement will contribute to increased awareness, trust, and loyalty among the target audience.

Key Performance Indicators

To effectively track Lizzy’s progress and ensure continued success, the company has identified the following KPIs:

• User Acquisition
• Number of new user applications
• Application acceptance rate
• Member referral rate
• Monthly user growth rate
• User Engagement
• Daily active users (DAU) and monthly active users (MAU)
• Average time spent per session
• Number of connections made between users
• Number of in-app activity
• Membership Retention
• Retention rate of active members
• Average duration of membership
• User churn rate
• Monetization
• Average revenue per user (ARPU)
• Revenue generated per membership tier
• Revenue generated from in-app purchases
• App Performance
• App Store and Play Store rating and reviews
• Number of reported crashes and technical issues
• Cost per lead and user acquisition cost 
• 4:1 return on ad spend 
• 5% monthly website traffic increase
• 2% monthly follower growth rate on all social media platforms
• Gross margin 
• Net profit margin 
• Positive cash flow

SWOT Analysis

• Exclusive platform that caters to the unique cultural context of American-born South Asians
• Founder’s expertise and deep understanding of the unique needs of the target demographic
• Founder’s extensive network within the South Asian community in NYC Metro
• Thorough user vetting process that ensures a high-quality user base
• Diversified revenue streams through membership fees and in-app purchases
• Limited user base due to the exclusive focus on North American-born South Asians
• New entrant with limited brand recognition compared to established dating apps
• Potential for a slower user growth rate compared to broader demographic dating apps
• Revenue heavily reliant on membership fees and in-app purchases
• Limited resources for aggressive marketing and user acquisition

Opportunities

• Increasing demand for niche dating platforms
• Growing consumer spending on online dating services
• Expansion into the American market to tap into the population of American-born South Asians
• Potential collaboration with influencers or celebrities to increase the platform’s visibility
• Integration of gamification features to attract and retain users
• Intense competition from both mainstream and other niche dating platforms
• Regulatory changes impacting user data privacy and app operations
• Economic downturns affecting users’ capacity to pay for premium services
• Rapidly evolving user preferences and expectations in the online dating industry
• Negative experiences or incidents that can damage the platform’s reputation

Operational Plan

The operational plan serves as the backbone that outlines the fundamental actions required to ensure Lizzy’s operations run efficiently and effectively. This section provides a comprehensive overview of the company’s day-to-day activities, covering critical areas such as hours of operation, location, app development, project timeline, platform mechanics, compliance with laws and regulations, and risk management. 

Hours of Operations

The operating hours for the different departments of the company will vary depending on their respective responsibilities.

Management Team

To ensure optimal productivity and efficiency, Lizzy’s management team will operate during standard working hours. This will enable the team to work collaboratively and be available for communication with contractors and stakeholders during regular business hours.

Additionally, this operating schedule promotes a healthy work-life balance for employees, which is crucial for maintaining high morale and productivity. Having weekends off allows employees to recharge, ensuring they are motivated and ready to provide exceptional service during the workweek.

App Operations

The App Operations team, consisting of the Customer Service Department and the Account Review Department, operates on a 24/7 schedule. Team members will be working in shifts to provide round-the-clock support for the platform, seven days a week. Each team member will follow a standard 40-hour workweek, ensuring that customer queries are promptly addressed and user profiles are efficiently reviewed. This schedule enables the team to deliver excellent customer service, enhance user satisfaction, and maintain active engagement on the platform.

Office Location

During the initial phase, the Lizzy team will adopt a fully remote work model, leveraging modern technological tools for communication, collaboration, and project management. This approach allows the company to save on infrastructure costs, ensuring that more resources are available for critical areas such as platform development and user acquisition. The remote work model also provides the advantage of recruiting talent without being limited by geographical boundaries, thereby opening up a wider pool of potential employees.

Once the company achieves a lucrative financial standing, the plan is to establish a physical headquarters in New York City, New York, a city renowned for its thriving tech industry and vibrant startup ecosystem. This office will house senior management, administration, human resources, and other corporate functions, fostering a collaborative and centralized work environment.

App Development

The development of Lizzy will be entrusted to Simply Designs, a renowned application development firm in New York City, New York. Led by Scott Jackson, Simply Designs has built a strong reputation in the industry, specializing in custom software and app development across multiple platforms. Their expertise lies not just in coding, but extends to wireframing, graphic design, project management, testing, and facilitating app store approvals, making them an ideal partner for this project.

Simply Designs’ team of skilled mobile app developers will manage the process from concept to deployment. This includes creating a user-friendly interface, ensuring smooth functionality, and optimizing the app for both iOS and Android. In addition to the mobile app, the contractor will also be responsible for creating Lizzy’s website, ensuring a consistent brand image and user experience across all digital touchpoints.

The decision to outsource the app and website development to Simply Designs not only guarantees high-quality output but also provides financial advantages for Lizzy. Outsourcing will save the company the associated costs and time involved in hiring, recruitment, and managing an in-house development team. Furthermore, this approach ensures that the technical aspects of the project are entrusted to capable hands, allowing Lizzy to concentrate on other core areas such as market research, user acquisition strategies, and delivering superior customer service.

Project Timeline

The following illustration represents the projected timeline for Lizzy, detailing the key milestones and development stages that the company intends to accomplish. This timeline offers an informative roadmap of the company’s strategic goals, showcasing the planned trajectory from the acquisition of funds to the anticipated platform launch.

Platform Mechanics

The following diagram illustrates the key functionalities, steps, and interactions that a typical user will encounter from the application process to engaging with other users on Lizzy. This visual representation showcases the platform’s unique features, intuitive design, and user-friendly interface, providing a clear understanding of how Lizzy strives to deliver a seamless dating experience to its users.

Lizzy will adhere to the federal and provincial laws discussed in Section 3.2 Government Regulations , as well as other pertinent regulations, bylaws, and standards. The company will take all necessary steps to ensure that it obtains the required government permits to conduct its business operations legally and ethically.

Labor and Employment

The company will strictly adhere to the legal standards for payment, compensation, and working conditions as mandated by the New York Employment Standards Act. The management team will ensure open communication channels with employees to promote a positive work-life balance that enhances welfare. Moreover, the company will continuously monitor its adherence to labor laws and periodically review compensation packages to ensure they meet the legally mandated minimum wage requirements.

Risk Analysis

Slow Adoption Rate 

As a relatively new platform, Lizzy faces the inherent risk of slow user adoption which could significantly impact the company’s growth, market position, and long-term sustainability. 

Apart from leveraging the Founder’s personal network, Lizzy will implement a robust marketing strategy to boost awareness and attract users. Incentives will also be provided to early adopters, encouraging user referrals and positive word-of-mouth.

User Data Breach

A breach in user data could result in unauthorized access to user profiles and personal information, eroding user trust and potentially exposing the company to legal consequences.

Lizzy will adopt rigorous security measures, including encryption, regular security audits, and secure access management. In the event of a breach, Lizzy will promptly inform affected users and take immediate corrective action

Negative User Behavior

Users engaging in harassment, catfishing, or other inappropriate behaviors could damage the platform’s atmosphere and deter potential users.

Lizzy will implement a stringent user vetting process and enforce strict community guidelines to keep the community safe.  Users will also be encouraged to actively report any suspicious or inappropriate behaviors.

Regulatory Changes

New regulations or amended regulations on online services could have an impact on the operations of Lizzy, potentially resulting in additional costs or requiring modifications to the business model.

To ensure ongoing compliance, Lizzy will stay updated with all regulatory changes in the industry and work closely with legal consultants. The company will allocate the necessary resources to accommodate any adjustments required as a result of regulatory changes.

Economic Downturn

Changes in the economy can influence user spending behavior. In an economic downturn, users may be less willing to pay for premium features.

Lizzy will monitor economic indicators and adjust its pricing strategy as needed. The company will also strive to offer a range of features and price points to cater to users with different spending capacities.

Technological Malfunction

Any disruptions to the operation of the platform, such as crashes, bugs, glitches, or performance issues, can have a negative impact on user experience, potentially resulting in the loss of account.

To ensure the seamless functioning of the app, Lizzy will invest in high-quality technology infrastructure and conduct regular testing and maintenance. Additionally, prompt technical support will be provided to address any issues that may arise.

Market Competition

The online dating industry is highly competitive, with numerous platforms vying for user attention. An increase in competition could lead to a loss of market share for Lizzy and impact its growth.

To set the platform apart from competitors, Lizzy will focus on a differentiation strategy. This will involve continuously innovating and improving its service offerings to align with the specific needs and expectations of North American-born South Asians.

Organizational Plan

The organizational plan outlines the company’s approach to managing human capital, including the organizational structure, management team, personnel plan, and recruitment plan. This plan will be regularly reviewed and updated to ensure the company remains adaptable and responsive to emerging opportunities and challenges.

Founder and Owner

Ms. Ava Liz is a results-oriented professional with over 20 years of extensive experience in the social service sector. Ms. Liz’s expertise, characterized by a deep understanding of mental health and a proven ability to establish and maintain productive relationships with team members and clients, has led to a career filled with impactful social initiatives. Leveraging these skills, Ms. Liz has transitioned into tech entrepreneurship as the Founder and Owner of Lizzy, a venture that carries the same level of social commitment and determination.

A respected member of the South Asian community, Ms. Liz holds a Bachelor of Arts in Sociology and a Bachelor in Social Work, alongside an active registration with the New York College of Social Workers, highlighting academic proficiency and commitment to professional development. Moreover, Ms. Liz’s past success in fundraising, notably raising over $20,000 for the ALS Society within the South Asian Community, demonstrates tenacity, resourcefulness, and commitment to effecting positive social change. These attributes, along with Ms. Liz’s keen understanding of the target demographic’s unique needs and experiences, will play a crucial role in leading Lizzy to unprecedented heights in the dating app industry.

Key Personnel

This personnel plan provides an overview of the duties and responsibilities of each employee and contractor within the company, offering clarity on individual duties and fostering a culture of accountability and effective management. By clearly defining the scope and mandates of each team member, Lizzy aims to cultivate a cohesive and efficient team capable of working collaboratively toward achieving the company’s goals. 

Account Reviewer

Full-time Contractor

• Review and evaluate user applications based on predetermined criteria
• Make decisions on whether to approve, deny, or place applications on a waitlist
• Ensure the application process is fair, consistent, and aligned with Lizzy’s policies
• Communicate decisions to applicants and provides feedback when necessary
• Uphold the integrity and standards of Lizzy’s user community

Customer Support

Offshore Contractor

• Provide email support to assist users with inquiries, issues, and technical problems
• Respond promptly and professionally to user queries and concerns
• Resolve user issues and escalate complex problems to the appropriate team
• Offer guidance and assistance in navigating the platform and its features
• Deliver excellent customer service at all times and ensure user satisfaction

Industry Advisor

• Offer industry-specific knowledge and insights to guide Lizzy’s strategic decisions
• Provide expertise on trends, market dynamics, and best practices within the dating app industry
• Assist in identifying opportunities for growth, innovation, and differentiation
• Offer advice and guidance on industry regulations, compliance, and emerging technologies
• Helps shape the overall industry positioning and competitive strategy of Lizzy

Market Advisor

• Conduct market research and analysis to identify market trends
• Assist in defining and refining Lizzy’s target market and value proposition
• Provide insights on competitor analysis and market positioning
• Collaborate with the marketing team to develop effective marketing and promotional strategies
• Guide market entry and expansion strategies based on market dynamics and opportunities

Growth Advisor

• Drive the development and execution of growth strategies for Lizzy
• Identify opportunities to increase user acquisition, retention, and engagement
• Analyze user data and performance metrics to identify areas for improvement
• Collaborate with cross-functional teams to implement growth initiatives and experiments
• Monitor and evaluate the effectiveness of growth strategies and make adjustments as needed

Chartered Professional Accountant

• Manage financial records and bookkeeping with accuracy
• Ensure compliance with accounting standards
• Prepare financial statements, handle tax filings, and provide financial analysis and reporting
• Assist in budgeting, forecasting, and financial planning
• Provide guidance on financial strategies and helps ensure proper financial management

Financial Plan

The following financial projections have been carefully crafted by the management team of Serenity Farm Co. All projections are forward-looking and are dependent on securing the required financing.

Pro Forma Income Statement

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Mobile App Business Plan Template

Written by Dave Lavinsky

Writing a Successful Business Plan For Your Mobile App Business + Template

If you’re looking to start or grow a mobile app business, you need a business plan. Your plan will outline your business goals and strategies, and how you plan on achieving them. It will also detail the amount of funding you need, and if needed, present a case to investors and lenders regarding why they should invest in your business.

In this article, we’ll explain why you should invest the time and energy into creating a mobile app business plan, and provide you with a mobile app business plan template that includes an overview of what should be included in each section. Download the Ultimate Mobile App Business Plan Template here >

Why Write a Business Plan For a Mobile App Business?

There are many reasons to write a business plan for a mobile app company, even if you’re not looking for funding. A business plan can help you see potential pitfalls in your business strategy, as well as identify opportunities you may not have considered. It can also help you track your progress and adjust your plans as needed.

That said, if you are looking for funding, a business plan is essential. Investors and lenders want to see that you have a solid understanding of your industry, your customers, and your competition. They also want to know that you have a realistic view of your financial situation and how much money you’ll need to get started.

How To Write a Business Plan For a Mobile App Business

While every business plan is different, there are 10 essential components that all mobile app business plans should include:

Executive Summary

Company description, industry analysis, customer analysis, competitor analysis, marketing plan, operations plan, management team, financial plan.

Keep in mind that you’ll need to tailor this information to your specific type of mobile app business, but these 10 components should be included in every plan.

The executive summary is the first section of your business plan, but it’s often written last. This is because it provides an overview of the entire document.

In the executive summary, briefly explain what your business does, your business goals, and how you plan on achieving them. You should also include a brief overview of your financial situation, including how much money you’ll need to get started.

For organizational purposes, you could create headings for each main section of your business plan to highlight the key takeaways.

For example, your mobile app executive summary might look something like this:

Company Overview

[Insert Company Introduction / Short Summary]

Business Goals

[Insert Business Goals & How You Plan To Achieve Them]

Industry Overview

[Insert Industry Statistics on the Size of Your Market]

Competition

[Insert Overview of Competitors & Your Competitive Advantage]

[Insert Information About The Marketing Strategies You Will Use To Attract Clients/Customers]

Financial Overview

You can add and/or remove sections as needed, but these are the basics that should be included in every executive summary.

The next section of your mobile app business plan is the company description, where you’ll provide an overview of your business.

Include information about your:

• Company History & Accomplishments To Date

Mission Statement and/or Company Values

With regards to the company overview, here you will document the type of mobile app company you operate. For example, there are several types of mobile app companies such as:

• Developers (those who design and build apps)
• Publishers (those who market and sell apps)
• Enablers (those who develop the technology or platform that powers apps)

For example, a mobile app company description might look something like this:

We are an X type of mobile app company.

Company History

If an existing company: Since launching, our team has served X customers and generated $Y in revenue.

If startup: I conceived [company name] on this date. Since that time, we have developed the company logo, found potential space, etc. 

This is just an example, but your company description should give potential investors a clear idea of who you are, what you do, and why you’re the best at what you do.

The next section of your business plan is the industry analysis. In this section, you’ll need to provide an overview of the industry you’re in, as well as any trends or changes that might impact your business.

Questions you will want to answer include:

• What is the overall size of the mobile app industry?
• How is the industry growing or changing?
• What are the major trends affecting the mobile app industry?
• Who are the major players in the mobile app industry?

For example, your industry analysis might look something like this:

The size of the mobile app industry is expected to reach $XX billion by 20XX.

It is currently growing at an annual rate of XX% and is predicted to continue this growth in the future.

Major trends affecting the industry are:

– The continued growth of global smartphone usage

– The ever-changing landscape of the app store algorithms

– The rise of in-app purchase models

– The popularity of subscription-based models

How We Fit Into The Industry

This is just an example, but your industry analysis should give potential investors a clear idea of the overall industry, and how your company fits into that industry.

The next section of your mobile app business plan is the customer analysis. In this section, you’ll need to provide an overview of who your target customers are and what their needs are.

• Who are your target customers?
• What are their needs?
• How do they interact with your industry?
• How do they make purchasing decisions?

You want a thorough understanding of your target customers to provide them with the best possible products and/or services. Oftentimes, you will want to include the specific demographics of your target market, such as age, gender, income, etc., but you’ll also want to highlight the psychographics, such as their interests, lifestyles, and values.

This information will help you better understand your target market and how to reach them.

For example, your customer analysis might look something like this:

Target Market & Demographics

The demographic (age, gender, location, income, etc.) profile of our target mobile app customer is as follows: 

– Age: 18-24

– Gender: Male

– Location: Urban

– Income: $50,000-$100,000

Psychographics

Our core customer interests are as follows: 

– Technology: Mobile apps, smartphones, new technology adapters

– Music: Listening to music and going to concerts

– Lifestyle: Progressive and open-minded

– Values: Innovation, creativity and self-expression

– Gaming: Mobile and online gaming

In summary, your customer analysis should give potential investors a clear idea of who your target market is and how you reach them.

The next section of your business plan is the competitor analysis. In this section, you’ll need to provide an overview of who your major competitors are and their strengths and weaknesses.

• Who are your major competitors?
• What are their strengths and weaknesses?
• How do they compare to you?

You want to make sure that you have a clear understanding of your competition so that you can position yourself in the market. Creating a SWOT Analysis (strengths, weaknesses, opportunities, threats) for each of your major competitors helps you do this. 

For example, your competitor analysis might look something like this:

Major Competitors

XYZ Company is our major competitor. Its offerings include this, this and this. Its strengths include XYZ, and its weaknesses include XYZ.

Competitive Advantage

Your competitor analysis should give potential lenders and investors a clear idea of who your major competitors are and how you compare to them.

The next section of your business plan is the marketing plan. In this section, you’ll need to provide an overview of your marketing strategy and how you plan on executing it.

Specifically, you will document your “4 Ps” as follows:

• Products/Services : Here is where you’ll document your product/service offerings.
• Price : Detail your pricing strategy here.
• Place : Document where customers will find you and whether you will use distribution channels (e.g., partnerships) to reach them.
• Promotion : Here you will document how you will reach your target customers. For instance, mobile app businesses often reach new customers via promotional tactics including online ads (e.g., Google AdWords), PR, social media marketing, etc.

For example, your marketing plan might look something like this:

Products/Services

We offer the following products/services: 

We will use a premium pricing strategy to establish ourselves as the highest quality brand.

We will serve customers directly and through a partnership with XYZ company.

As you can see, your marketing plan should give potential investors a clear idea of your marketing objectives, strategies, and tactics.

The next section of your business plan is the operations plan. In this section, you’ll need to provide an overview of your company’s day-to-day operations and how they will be structured.

• What are your company’s daily operations?
• How are your company’s operations structured?
• Who is responsible for each task?

Your operations plan should be detailed and concise. You want to make sure that potential investors have a clear understanding of your company’s day-to-day operations and how they are structured.

You will also include information regarding your long-term goals for your operations and how you plan on achieving them.

For example, your operations plan might look something like this:

Daily Operations

Our company’s daily operations include XYZ.

Operational Structure

Our company is structured as follows:

• Department 1
• Department 2
• Department 3

Each department is responsible for XYZ tasks.

Long-Term Goals

Our long-term goals for our operations are to achieve the following over the next five years.

Date 1: Goal 1

Date 2: Goal 2

Date 3: Goal 3

Date 4: Goal 4

Your operations plan should give readers a clear idea of your company’s day-to-day operations, how they are structured, and your long-term goals for the company.

The next section of your business plan is the management team. In this section, you’ll need to provide an overview of your management team and their experience.

• Who is on your management team?
• What are their qualifications?
• What is their experience?

Your management team ideally includes individuals who are experts in their respective fields. You want to make sure that lenders and investors have a clear understanding of your management team’s qualifications and experience, and feel they can execute on your plan.

For example, your management team might look something like this:

Our management team is comprised of the following X individuals with the following experience.

Team Member 1: 

Team member 1’s qualifications and experience include XYZ.

Team Member 2: 

Your management team should give potential lenders and investors a clear idea of who is on your team and how their qualifications and experience will help your company succeed.

The final core section of your business plan is the financial plan. In this section, you’ll need to provide an overview of your company’s financials.

• What are your company’s projected revenues?
• What are your company’s projected expenses?
• What is your company’s projected growth rate?
• How much funding do you need and for what purposes? For example, most startup mobile app businesses need outside funding for things like initial app development costs, marketing, and operations.

Your financial plan should give potential investors a clear understanding of your company’s financials. While you may include a summary of this information in this section, you will include full financial statements in the appendix of your business plan.

For example, your financial plan might look something like this:

Our company’s projected revenues over the next five years are $XYZ.

Expenses & Net Income

Our company’s projected expenses and net income over the next five years are $XYZ.

Uses of Funding

This is just an example, but your financial plan should give potential investors a clear idea of your company’s financial projections.

The final section of your business plan is the appendix. In this section, you’ll need to provide any additional information that was not included in the previous sections.

This may include items such as:

• Full financial statements
• Resumes of key management team members
• Letters of reference
• Articles or press releases
• Marketing materials
• Product information
• Any other relevant information

By including this information in the appendix, you are allowing potential investors and lenders to learn more about your company.

In summary, writing a mobile app business plan is a vital step in the process of starting and/or growing your own business.

A business plan will give you a roadmap to follow. It can also help you attract investors and partners.

By following the tips outlined in this article, you can be sure that your business plan will be effective and help you achieve your goals.  

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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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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

• Case studies

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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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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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 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.

• Top 15 Business App Ideas For Entrepreneurs In 2024
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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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• Best Business Cell Phone Plans

Best Business Cell Phone Plans Of 2024

Updated: Mar 17, 2024, 11:08am

Business cell phone plans are an important consideration for any team. LinkedIn reports that 57% of sales professionals saw an increase in calls to customers in 2020. Ensuring that all of your staff can pick up the phone no matter where they are can make a huge difference in your overall sales.

If you want phone calls on the go, you have several options at your disposal. For one, you could go with a business-centric plan from one of the major United States wireless carriers. Alternatively, you could use one of the leading voice-over-internet-protocol (VoIP) platforms and stay connected via a mobile app. Forbes Advisor ranked the best mobile options on the market to help you figure out which is best for your brand.

• Best VoIP Service
• Best Free VoIP Phone Service
• Best VoIP Cell Phone Service
• Best Conference Calling Services
• Best Call Center Software

The Best 5 Business Cell Phone Plans of 2024

Why you can trust forbes advisor small business.

RingCentral

Verizon Wireless

Google voice, at&t wireless, forbes advisor ratings, methodology, considerations for choosing the best business cell phone plan, frequently asked questions (faqs), next up in business.

Featured Partners

$20 per user, per month (paid annually)

On RingCentral's Website

Starts at $10 per user, per month

On Zoom's Website

$18.95 per user, per month

On Nextiva's Website

• RingCentral: Best VoIP business mobile plan
• Verizon Wireless: Best traditional wireless carrier
• Google Voice: Best mobile solution for sole proprietors and freelancers
• AT&T Wireless: Best for mobile security
• T-Mobile: Best for novel features

The Forbes Advisor Small Business team is committed to bringing you unbiased rankings and information with full editorial independence. We use product data, strategic methodologies and expert insights to inform all of our content and guide you in making the best decisions for your business journey.

We reviewed the leading mobile phone providers in the market using a detailed system to determine the five best cell phone services for small businesses. Pricing was an essential consideration when putting together our list as were the features that each provider offered. We also took into consideration real users’ experiences with the cell phone providers to come up with our final rankings. All ratings are determined solely by our editorial team.

Best Overall Business Cell Phone Plan

Starting price

$24.99 per user, per month

Free hardware available

International coverage

RingCentral is a far cry from your traditional business cell phone plan. It does not offer a wireless network or devices for your team. Instead, this VoIP service offers a monthly (or annual) subscription to software you can use from a computer, tablet or smartphone via an app. In most cases, subscribing to RingCentral and having your team log in to the app via their accounts is a lot more affordable than going with one of the big wireless carriers. Therefore, it is our top overall pick for business cell phone plans.

Regardless of which plan you choose, all versions of RingCentral come standard with the following:

• Unlimited calls within the United States and Canada
• Unlimited business short message service (SMS)
• Team member messaging
• Voicemail to text
• Document sharing
• Toll-free numbers

Service plan costs vary depending on how many people you employ. Pricing for two to 20 users on an annual basis is as follows:

• Essentials: $24.99 per user, per month with unlimited domestic calling, SMS, document sharing and voicemail-to-text functionality
• Standard: $27.99 per user, per month with unlimited fax, video calling for up to 100 people, the ability to adopt a number in more than 100 countries and more
• Premium: $39.99 per user, per month with automatic call recording, third-party software integrations and more
• Ultimate: $54.99 per user, per month with advanced status reports, alerts and unlimited online file storage

RingCentral’s plans offer features that aren’t available through larger carriers. The fact that RingCentral offers toll-free numbers is helpful in commanding a more professional business presence, and features like video calling and faxing are nice bonuses. RingCentral also has an intuitive, modern interface that closely resembles your smartphone’s default phone and texting apps. Once it is installed, you can think of the app as a business phone that lives in your personal phone.

The only downside with RingCentral as a business cell phone plan is it requires a fair amount of trust. On one end, you will need to consider whether or not you can count on your team members to keep company information secure if the app is installed on their personal devices. Additionally, your staff may not feel comfortable with having their work phone installed onto their smartphones.

While the lines between work and home continue to blur, thanks in large part to apps like Slack and Zoom, you might want to evaluate your company culture before moving forward. It’s also worth noting that all of RingCentral’s features can be used on a PC or Mac.

Learn more: Read our full RingCentral review .

Who should use it:

RingCentral’s pricing and features make it a good fit for businesses of every size.

• Free 15-day trial
• Very affordable monthly plans
• Able to customize service by business size and industry
• Available across multiple devices
• Possible to video conference with up to 200 people
• Must upgrade for 24/7 customer support and, even then, it apparently leaves a lot to be desired
• Plans get inexplicably more expensive for sole proprietors
• Can only rent phones with multi-year contracts

Best for Traditional Plans and VoIP Features

Plans as low as $30 per month, per line

Verizon is one of the largest carriers in operation, with coverage and services spanning from coast to coast and beyond. The company makes our list as it provides solid cell phone plans for small and large businesses alike. You can choose from one of several subscription options according to what works best for your company.

Flexible Business Wireless Plans

The Flexible Business Wireless Plan offers unlimited domestic talk and text, unlimited international messaging and a mobile hot spot. It also comes with a shareable data pool for your phones, tablets and other devices. You can even gain access to corporate email services.

What makes this plan “flexible” is that you get to choose the amount of data you want to add to your smartphone, tablet or both. The pricing plans vary according to the amount of data you need for your device. Use a handy calculator to determine how much smartphone or tablet data you’ll need to get an idea of your expected monthly price.

Business Unlimited Plans

These Verizon business phone subscriptions provide companies with unlimited talk, text and data through three tier levels: Start. 2.0, Plus 2.0 and Pro 2.0:

• Business Unlimited Start 5G: As low as $30 per month when you add five or more lines. Includes unlimited talk, text and data; 5G nationwide/4G LTE and call filter
• Business Unlimited Plus 5G: As low as $40 per month with five or more lines; it includes everything in Start plus 5G Ultra Wideband, 100 GB Premium network access and an unlimited mobile hotspot. The tier also offers Business Mobile Secure, which protects your smartphones against potential security threats.
• Business Unlimited Pro 5G: As low as $45 per month when you buy five or more lines; offers unlimited Premium Network Access and a 50% discount on Business Unlimited Pro tablet plans

The monthly plan price fluctuates according to the number of smartphone lines you buy. Although Verizon offers generous price discounts with each tier, smaller businesses might find the pricing plans a bit expensive, even excessive if they don’t need five or more lines.

Verizon lets you bring your own device (BYOD) to the service and even offers discount deals for doing so. However, not every device is compatible, and the brand recommends confirming compatibility before making the switch. Verizon often offers free phones or generous credit, between $200 and $1,000, toward purchasing a new phone.

Like many service providers, Verizon tends to automate customer support to the point where some customers struggle to speak with an actual human. Because it can be hard to talk to anyone, customers often find Verizon’s customer service somewhat lacking. To make up for this, Verizon offers a feature in which an agent will call you when one is available if you don’t feel like waiting on hold.

Verizon represents a more traditional phone plan structure, one with its service easily accessible across the country and via different locations worldwide. As such, even pricing and customer service issues are but minor deterrents. You’re still getting a big carrier plan with coverage in most of the United States and a wide range of service plans and devices to suit your needs.

Verizon works well for small to large businesses with a healthy budget.

Learn more:

Read our full Verizon Wireless review .

• Nationwide coverage
• Offers mobile VPN with certain plans
• Data, calls and texting available to use while in Canada and Mexico
• Ability to mix and match plans
• Could be overkill for smaller organizations
• Plans can get expensive

Best for Sole Proprietors and Freelancers

Plans starting at $10 per month, per user

Google Voice is an ideal choice for those who need an extra business phone number but might not be able to afford a complex and pricey service plan. Google Voice is a popular virtual phone service that offers call forwarding, voice and text messaging and voicemail options. Best of all, there is a version of the system that is entirely free to use as long as you have a Google Account.

Google Voice is popular for offering an impressive set of functionality in its free tier. As long as you have a personal Google Account, you can adopt a local number with nearly any area code in the United States. You can make unlimited domestic calls and texts across the U.S. and Canada from your phone or computer.

Because Google Voice is a free service, it can be especially useful to a small, cash-strapped business that wants to be able to make and receive calls without committing to pricier service plans offered by AT&T or T-Mobile. Though an existing number is required, once you link it to Google Voice, you’re able to communicate using virtually any device. If your business needs more than what the freeware offers, you can sign up for one of Google Voice’s subscription plans:

• Business Starter: $10 per user, per month; recommended for entrepreneurs or small businesses with 10 people or less
• Business Standard: $20 per user, per month; works for businesses of any size
• Business Premier: $30 per user, per month; aimed at larger, international companies

Once you upgrade, you can enjoy features such as unlimited domestic calling and text, voicemail transcripts, a “do not disturb” feature linked to your Google Calendar working hours, use and activity reports and 24-hour technical support. Upgrade to Standard or Premier for additional perks, including desk-phone compatibility, auto attendants and eDiscovery for calls, text messages and voicemail.

Overall, Google Voice offers businesses several benefits at either no cost or through very affordable service plans. Even if there are downsides, with the amount of free features, Google Voice is a beneficial service.

Learn more: Read our full Google Voice review .

Google Voice works best for organizations, small and large, that want a business cell phone plan that streamlines their contacts across multiple devices.

• Free version available
• 14-day trial for paid features
• Highly scalable, with service options for businesses of every size and budget
• Get a local number
• Unlimited calling and SMS
• Need an existing phone number to forward calls
• Must have internet/Wi-Fi connection to use

Best for Mobile Security

$30 per line, per month

We chose AT&T Wireless as it offers flexible cell phone plan options with plenty of added perks. With AT&T, your company has access to nationwide coverage and a range of plans that come standard with unlimited talk, text and data.

In addition to domestic coverage, AT&T provides unlimited talk and text from the United States to Canada or Mexico with no roaming fees. Some plan options even extend service options from the U.S. to up to 120 countries. It is crucial to note that some features are only available through devices compatible with AT&T’s service.

You can choose between one of several business-related subscription plans, priced per month and per smartphone line. AT&T’s best per-line pricing options come with six or more lines.

Unlimited Your Way

AT&T provides unlimited business service plans that let you choose only what you need for team members. There are three tiers available; you can purchase between one and 10 lines with these plans (per the Unlimited Your Way plan group), with per-month pricing fluctuating according to your decision.

• Business Unlimited Starter: Begins at $30 per month, per line with five or more lines and includes unlimited domestic talk, text and data, and unlimited talk and text to Canada and Mexico; offers access to AT&T’s 5G and 5G+ services on compatible devices where available and standard streaming and mobile security
• Business Unlimited Performance: Begins at $35 per month, paid per line with five or more lines. It includes everything in Starter, plus advanced mobile security and high-definition streams; each line has access to 30 GB of hotspot data.
• Business Unlimited Elite: Begins at $45 per month and per line for five or more lines; this plan adds AT&T Business Fast Track, which gives higher priority to your data usage, letting things run smoothly during times of high congestion; the plan gives you 100 GB of hotspot data

AT&T Mobile Select (Pooled)

Perhaps one device needs 5 GB per month while another only needs 2 GB. Pooling data means that each team member only uses a specific amount and your business only pays for exactly what it needs. In addition to pooled data, this plan provides unlimited talk and text. Customers will also get access to Stream Saver, which conserves data when users stream content.

Depending on your device or location, AT&T also offers its Call Protect Basic service. Plans start at $35 per month for 1 GB and increase according to your intended data pool.

AT&T Business 4GB

This plan option gives your business access to 4 GB of data per line, plus unlimited talk and text. Pricing isn’t as straightforward as it could be. The most affordable plan costs $50 per month, per line, when you buy at least three lines; the service option maxing out at 10 lines. Please note that this price is only guaranteed when you agree to sign up for autopay. This knocks $25 off the price per smartphone line with a service commitment.

AT&T’s Security Features

AT&T offers protection against increasingly common annoyances such as spam and fraud calls, including the ability to block suspicious phone numbers outright. For an additional service charge, AT&T provides its Secure Wi-Fi VPN service through AT&T Mobile Security Plus. The most basic version of this is available free with every plan and includes device security and breach reports. The add-on costs $3.99 per month and comes with a serious upgrade on secure mobile features:

• Secure Wi-Fi VPN
• Personal ID monitor
• Safe browsing
• Wi-Fi alerts
• Theft alerts (Android devices only)

If you’re looking for free hardware, AT&T Wireless does offer discounts and deals from time to time, including free phones or generous discounts towards the purchase of a qualifying phone.

AT&T’s business cell phone plans are impressive. Unfortunately, when things get congested, your service quality can drop substantially thanks to data caps and slowed coverage. AT&T often forces customers to upgrade to higher tiers to avoid slowdowns. The company’s plans can also get very expensive when you account for optional add-ons and devices.

AT&T Wireless is one of the larger service carriers, and so it can guarantee coverage and high-quality service to almost all of its customers. That said, its service fees could prove to be too expensive for smaller businesses with very tight budgets.

AT&T is best for mid to large-size companies with specific data needs and a desire for greater security when communicating or transferring information.

• Provides highly customizable business cell phone plans
• No roaming fees for Canada and Mexico
• Offers stellar mobile security add-ons
• No overage charges
• Data speeds drop when service gets very busy
• Add-ons and premium tiers can make the service pricey

Best for Novel and Unique Features

$25 per line, per month

T-Mobile is the third of the three biggest U.S. wireless carriers, after merging with Sprint in 2020. While it has all the standard functionality of the other business cell service providers, what makes it stand apart are its unique and novel bonuses that come with select plans. For instance, some plans come with Microsoft 365 and unlimited in-flight Wi-Fi.

T-Mobile offers limited and unlimited talk and text service in Canada and Mexico and standard 5G in its business packages. Additionally, all levels of T-Mobile’s business cell phone service come with its scam shield module, which identifies and warns you about known scam callers on your caller ID.

You get to choose from one of four service plans available for businesses, each priced per month and per line:

• Business Unlimited Select: Available for as low as $25 per month, per line when you purchase at least six lines; comes with 50 GB of premium data and 5 GB of hotspot data, limited talk and text to Mexico and Canada and unlimited standard definition streaming
• Business Unlimited Advanced: Available for as low as $30 per month, per line when you purchase at least six lines; includes one hour of free in-flight Wi-Fi,100 GB of premium data and a 40 GB hotspot plus unlimited talk, text and data in Canada and Mexico, as well as 5 GB of high-speed data at no extra cost; provides unlimited high definition streaming; includes two basic Microsoft 365 Business licenses
• Business Unlimited Ultimate: Available for as low as $40 per month, per line when you purchase at least six lines; unlimited access to premium data and 100 GB for your hotspot as well as unlimited in-flight Wi-Fi; get unlimited video streaming with quality up to 4K UHD
• Business Unlimited Ultimate+ for iPhone: Available for as low as $50 per month, per line when you purchase at least six lines; unlimited access to premium data and 200 GB for your hotspot as well as unlimited in-flight Wi-Fi; get unlimited video streaming with quality up to 4K UHD and Apple Business Essentials and AppleCare+

As mentioned, T-Mobile’s smartphone pricing will change depending on how many lines you choose to buy. You will be charged $60 per month for the most basic option if you only buy a single line. For this reason, smaller companies with tight budget constraints might find T-Mobile’s pricing to be too expensive, especially if they only need a few lines.

But for more mobile businesses that have employees constantly on the go, there are some really great perks. Offering access to unlimited in-flight Wi-Fi and unlimited talk, text and data to employees in Mexico and Canada could become a great selling point for your own brand.

Like most major carriers, there are a lot of customers competing for data priority. While T-Mobile offers access to this “premium data,” you have to pay a lot more out of pocket to ensure that your service doesn’t stagnate when things get particularly busy.

T-Mobile typically has multiple deals concerning phones, including free devices or credit up to a few hundred dollars towards buying a new smartphone. Like many such deals with carriers, they come with specific contract requirements, so it’s best to ask about the details before signing up.

T-Mobile seems best for businesses with team members who are constantly on the go and can therefore better appreciate perks related to international travel and flights.

• Reliable 5G network
• Service plans offer unlimited talk, text and data in Canada and Mexico
• Optional perks such as in-flight Wi-Fi and Microsoft 365
• Plans are expensive for six or fewer lines
• Bonus features only available in advanced plans

When putting this ranking together, we considered several vital components. Forbes Advisor researched the industry and analyzed multiple companies and plans. Then, we scored these providers across four categories of features using 13 different metrics that were weighted to favor features that small business owners find valuable in a cell phone service provider. The following are some of the metrics that we used to rank the providers that made our list.

Our main concern when it came to pricing was if the service is affordable, especially for small businesses, especially for the entry-level plan. Then, we looked at the costs and variety of plans available from each provider and what kind of value that each upgrade brought to users. Pricing accounted for 30% of our weighted scoring.

Key Features

We broke features into two distinct categories: general features and additional features. For general features, we looked at the offerings from each cell phone service provider that we considered to be common ones that every customer needs. Some of these general features include unlimited domestic calling and texting, international calling, conference calling and if any necessary hardware came free with the service. We weighted features at 45% of our total score.

Additional Features

For additional features, this included aspects of cell phone service that some users would consider to be nice to have, such as an automated attendant, mobile hot spot access and mobile security. For both kinds of features, we gave more weight to those that came with the service automatically as opposed to those that were add-ons that users had to pay additionally for. We weighted features at 15% of our total score.

Expert Analysis

Finally, based on our market research and the categories listed above, our experts also ranked additional criteria from customer reviews using metrics that included ease of use, popularity, value for the money and any stand-out features, such as offering international texting plans, mobile VPNs, free in-flight Wi-Fi, video calling and access to free local phone numbers. Altogether, these criteria make up 10% of the total score.

When selecting the best business cell phone plan for your company, there are a few factors to keep in mind. At the moment, for example, there are only three mainstream nationwide carriers. These larger carriers have pricing plans that might be too expensive for smaller businesses. Google Voice and RingCentral could work as much more affordable alternatives. We listed a few specific considerations in the sections below.

Smartphone Lines and Pricing

It’s a good idea to consider the number of lines your business needs, not to mention monthly or annual costs. Service providers will often offer a lower per-line price, but you’ll have to buy several lines to get the discount. It might be more affordable in the end to buy one or two lines rather than buy extra lines your company doesn’t need or can’t afford.

Free Phones and Purchase Credits

While the top carriers often allow you to BYOD, it might be possible to get at least one new phone for your business. If not a free phone, it’s common to provide you with substantial credit worth up to $1,000 towards the purchase of a brand-new smartphone.

A common caveat is this generosity gets tied to a long-term contract commitment. Do the month-to-month, and even year-to-year, math and decide what you’re willing to agree to in exchange for free or heavily discounted hardware. If all else fails, check to see if you can bring your existing devices with you to the new service provider. Some providers will let you do this at little to no extra charge.

International Perks or Availability

Many business cell phone plans focus on domestic features. Yet, if your brand is global, you’ll likely want to work with a company that offers talk, text and data options beyond American borders. Will data caps or a lack of in-flight Wi-Fi inhibit your ability to share information or communicate adequately? If you need worldwide service and support, it might be better to go with a much larger and more reliable carrier.

How ‘Unlimited’ Is Unlimited?

When a phone service says that an offer is unlimited, it is rare that an asterisk does not accompany the promise. Not all unlimited pricing plans are the same. Often, when things get congested, you may find that your service quality drops significantly. So, you learn that while your service option may be technically unlimited, there’s no such promise about the quality.

Some providers offer tiers that guarantee high-quality service no matter what. It’s best to read between the lines of the fine print to see what type of unlimited service you are getting offered.

Who has the best business cell phone plan for small businesses?

We selected RingCentral as our top choice due to its affordable payment plan structure when compared to other telephone companies.

What cell phone companies are offering free phones?

AT&T, Sprint and T-Mobile are among the most popular brands known to offer a free phone when switching to their service. Brands often have such deals periodically, so it is good to stay updated about potential offers.

What is the average cost of small business cell phone plans?

Your final cost will depend entirely on the service package and the number of lines you have on your plan. With that in mind, smaller businesses can expect to pay anywhere from $29 and $69 per smartphone line, per month. That does not include any additional hardware costs. Be sure to research and compare brands to find the price that works best for your business.

Who has the best unlimited talk, text and data plans?

We recommend RingCentral, Verizon and AT&T Wireless. Verizon and AT&T offer more comprehensive unlimited plans. Meanwhile, RingCentral’s options are generally more affordable.

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For nearly a decade, Toni Matthews-El has published business topics ranging from cloud communication software to best steps for establishing your own LLC. In addition to Forbes Advisor, she's published articles for Medical News Today, US News and World Report.

Cassie is a deputy editor collaborating with teams around the world while living in the beautiful hills of Kentucky. Focusing on bringing growth to small businesses, she is passionate about economic development and has held positions on the boards of directors of two non-profit organizations seeking to revitalize her former railroad town. Prior to joining the team at Forbes Advisor, Cassie was a content operations manager and copywriting manager.

Stay connected and save time with an easy-to-use business phone solution that fits organizations of any size.

Work from anywhere

Your Voice line works on mobile devices, laptops, and supported deskphones so you can stay connected at work, home, or on-the-go.

Voice can be customized to fit your day-to-day workflow. Number assignment, porting, and billing are neatly consolidated in the familiar Google Workspace Admin console.

Voice uses Google AI to help save you time by blocking spam calls and transcribing voicemails to text automatically. Integrations with Google Meet and Calendar help keep the focus on what's important.

Voice can be deployed instantly — and globally — from anywhere, with less administrative work. This feature includes easy set up of multi-level auto attendants and ring groups (also known as hunt groups).

Works with Voice

Focus on what's important while staying connected with a business phone system on deskphones, smartphones, and the web.

Expand your reach with SIP Link

SIP Link  allows customers to connect PSTN services from any carrier to Google Voice through certified Session Border Controllers (SBCs).

Compatible hardware

Trusted by organizations of many sizes,  Polycom® devices  and  certified headsets  provide reliable solutions for business communication.

Google Workspace

Receive valuable meeting context from  Google Meet

Manage your work-life balance with  Google Calendar

Get more done with Voice and Google Workspace

Easy for users.

Built for Google Workspace, Voice has a familiar look and user-friendly feel that fits easily into their workflow.

Easier for IT

Make it simple for your IT team to stay on top of their work with Voice, an integral part of the Google Workspace family.

Smart for business

Manage costs for your business with three license editions that help you streamline operations with Voice and Google Workspace.

Choose the right business phone plan for you.

1 View the list of countries where Voice is available.

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Up to 10 users

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Calls between Google Voice numbers included

Calls to the US from any Google Voice number included 2

Calls to Canada from a Canadian or US Google Voice number included 2

Calls to most European countries from within Europe included 2

Google Fi Compatible [US only]

Voicemail transcription

Google Calendar Integration

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Mobile apps: Android & IOS

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Usage and activity reporting

Call forwarding

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Unlimited Regional Locations

Unlimited Domestic Locations

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eDiscovery for calls, voice mails and text messaging records

Ad-hoc user call recording

Unlimited International Locations 1

Advanced reporting (BigQuery)

Automatic Ad-hoc user call recording

Promotional pricing plans apply to EMEA only. Other regions may vary.

2 Refer to the Voice rate card for a complete list of calling rates for your Voice number.

Learn how VoIP phone emergency features differ from traditional emergency calling service .

Our sales team now uses Google Voice to call and text customers from their smartphones, tablets, and the web. And because it is considerably more affordable to operate than our legacy VoIP systems, we continue to steadily expand our usage of Google Voice.

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To help make buying a new phone more affordable, if you find a better price within 7 days of receiving your new, eligible phone, we’ll credit the difference.  

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If you have an old smartphone, it could be worth something. Trade in your eligible phone for credit, and it might even help offset the cost of a new phone!

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Join Telstra Plus and get rewarded when you make an eligible payment on your services. Earn points to put towards must-have devices, accessories and more. Eligibility criteria apply.

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We have Australia's largest 5G network and it's rapidly growing. 

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Our cyber security team is constantly monitoring our network to protect your data from suspicious activity.

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Call our local team or visit your local store. Plus, the My Telstra app makes it easier to manage your account with in-app messaging and in-store appointment booking.  

Offset mobile plans at no extra cost

We've offset the emissions from our operations, and we're doing more to harness technology to minimise our impact on the planet. 

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At Telstra we recognise and acknowledge the existing, original and ancient connection Aboriginal and Torres Strait Islander peoples have to the lands and waterways across the Australian continent. We pay our respects to the elders past and present. We commit to working together to build a prosperous and inclusive Australia .

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Learn how Country Communications teamed with Ooma Enterprise to lower abandoned calls and raise a pizza chain’s bottom line. Spoiler alert–they routed calls to a call center whenever staff was too busy to pick up.

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All three Ooma Office plans begin with more than 50 essential business phone features that empower you to connect seamlessly with customers and co-workers. If your business requires advanced communication features, get more with Ooma Office Pro and Ooma Office Pro Plus.

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Features high-performance Wi-Fi & HD audio, supports USB headsets, 5-way conferencing.

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Features flexible Wi-Fi comms with smart noise filter, 5-way conferencing.

Features superior sound, multi-line, Wi-Fi, Bluetooth, 7-inch touchscreen, 12 lines.

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4 ways Ooma AirDial Remote Device Management gives you even more info and options

Ooma AirDial Remote Device Management (RDM) is always improving, adding helpful new features to save time and improve your experience. Check out some of the latest features like call alerts, power on notifications, dark mode settings and more! […]

The award for Best Business VoIP Phone Service in 2024 goes to … Ooma Office!

PCMag readers called it. Each year, PCMag polls its readers for their Business Choice awards and Ooma Office took top honors as the Best Business VoIP Phone Service! […]

How to modernize your motel phone system

This guide will help clarify the process of switching from an analog phone system to an internet phone system in your motel rooms. It's not as scary as you might think! […]

Go green with VoIP technology

As the world continues to grapple with the challenges of climate change, there is recognition that sustainability can and must be integrated into all aspects of our lives, including the corporate responsibility of business. VoIP is an easy and seamless way to make your communication more sustainable with some green tech. […]

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If you are a qualified taxpayer or authorized representative (Power of Attorney) you can apply for a payment plan (including installment agreement) online to pay off your balance over time.

Note: Once you complete your online application you will receive immediate notification of whether your payment plan has been approved.

Individual payment plan

Do you qualify.

Your specific tax situation will determine which payment options are available to you. Payment options include full payment, a short-term payment plan (paying in 180 days or less) or a long-term payment plan (installment agreement) (paying monthly).

You may qualify to apply online if:

• Long-term payment plan (installment agreement): You owe $50,000 or less in combined tax, penalties and interest. You have filed all required returns.
• Short-term payment plan: You owe less than $100,000 in combined tax, penalties and interest.

If you are a sole proprietor or independent contractor, apply for a payment plan as an individual.

Note: Setup fees may be higher if you apply for a payment plan by phone, mail, or in-person. Get more information on other payment plan options and fees .

What do you need to apply for a payment plan?

Starting November 14, 2021, IRS usernames that were only used to access payment plans (Online Payment Agreement) can’t be used to sign in anymore. You will be prompted to create an account with ID.me and will need photo identification.

If you are applying for a direct debit payment plan, you will need your bank routing and account numbers.

If you recently filed your tax return or your return was examined but have not received a balance notice from the IRS, you will need the balance due shown on your return.

What does it cost?

If we approve your payment plan, one of the following fees will be added to your tax bill.

Get more information on other payment agreement options and fees.

How do I review or revise an existing plan?

Reviewing a payment plan

You can view details of your current payment plan (type of agreement, due dates, and amount you need to pay) by logging into the online payment agreement tool using the Apply/Revise button below.

What you can change using the online payment agreement tool

You can use the online payment agreement tool to make the following changes:

• Change your monthly payment amount
• Change your monthly payment due date
• Convert an existing agreement to a Direct Debit agreement
• Change the bank routing and account number on a Direct Debit agreement
• Reinstate after default

You can log into the online payment agreement tool using the Apply/Revise button below.

How to revise an online payment plan

Log in to the online payment agreement tool using the Apply/Revise button below. On the first page, you can revise your current plan type, payment date, and amount. Then submit your changes.

If your new monthly payment amount does not meet the requirements, you will be prompted to revise the payment amount. If you are unable to make the minimum required payment amount, you will receive directions for completing a Form 9465 Installment Agreement Request PDF and Form 433-F Collection Information Statement PDF .

To convert your current agreement to a Direct Debit agreement, or to make changes to the bank account associated with your existing Direct Debit agreement, enter your bank routing and account number. 

If your plan has lapsed through default and is being reinstated, you may incur a reinstatement fee.

Power of Attorney (POA) for an individual

To apply as Power of Attorney (POA) for an individual, you need to log in with your IRS username or ID.me credentials (see What do you need to apply for a payment plan?)

For the individual you are representing, you will need:

• Taxpayer's Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN)
• Your Centralized Authorization File (CAF) number
• Caller ID from the taxpayer's notice or POA's signature date on Form 2848
• Balance due amount
• Secondary taxpayer’s SSN or ITIN (if applicable)
• Adjusted Gross Income for most recent return on file
• Tax year examined (if applicable)

Note : The POA must be authorized for all balance due periods in order to represent the taxpayer for a payment plan. Not all POA authority designation levels can represent the taxpayer for this purpose (including level “h”) or use the online system (including level “k”).  See the Instructions for Form 2848 for more information.

Apply/Revise as Individual Apply/Revise as Individual POA

Business payment plan

Your specific tax situation will determine which payment plan options are available to you. Payment options include full payment or a long-term payment plan (installment agreement) (paying monthly).

You may qualify to apply online, if:

• Long-term payment plan (installment agreement): You have filed all required returns and owe $25,000 or less in combined tax, penalties, and interest.

Note: Setup fees may be higher if you apply for a payment plan by phone, mail, or in-person. Get more information on other payment plan options and fees .

What does my business need to apply?

To apply as a business, you need to log in with your IRS username or ID.me credentials (See What do you need to apply for a payment plan? )

You also need:

• Your Employer Identification Number (EIN)
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• Tax period filed or examined

Get more information on other payment agreement options and fees.  

If your new monthly payment amount does not meet the requirements, you will be prompted to revise the payment amount. If you are unable to make the minimum required payment amount, you will receive directions for completing a Form 433-B Collection Information Statement for Businesses PDF  and how to submit it.

Power of Attorney (POA) for a business

To apply as Power of Attorney (POA) for a business, you need to log in with your IRS username or ID.me credentials (see What do you need to apply for a payment plan? )

• Taxpayer's Employer Identification Number (EIN)
• Business address of most recently filed tax return on file

Apply/Revise as Business Apply/Revise as Business POA

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Best Cell Phone Plans

We picked the best cell phone plans for unlimited data, nationwide coverage, hotspot data, family discounts, and sign-up deals.

✰ Best-value plans from our recommended partners ✰

Choosing a cell phone plan has never been harder: There are just too many great options.

Between T-Mobile, Verizon, AT&T, and the plethora of prepaid carriers like Visible, Mint Mobile, and Consumer Cellular, there are over 200 cell phone packages available in the United States—many of which include excellent pricing, generous data allotments, and 5G coverage.

We keep tabs on the latest plan options and follow developments in the mobile world closely. Take a dive into this guide to get the scoop on the best cell phone packages. You can find details on which plans deliver the best coverage, most competitive prices, greatest deals on hotspot data, juiciest discounts for families, and more.

Best cell phone plans at a glance

Here is a quick breakdown of the plans we highlight on this page:

• Best unlimited plan for a single line: T-Mobile’s Go5G Plus plan gives you everything you could need in a phone plan and more: Unlimited high-speed data, 50GB of monthly hotspot data, international data and texting, plus a yearlong AAA membership and subscriptions to Netflix and Apple TV+.
• Best cell phone coverage: Verizon’s Unlimited Welcome offers the best cellular coverage for a fair price, so you’re more likely to get a clear connection whether you’re in a network-congested city or a remote rural area.
• Best overall value : The $25 Visible Plan doesn’t cost much but still delivers reliable 4G LTE and 5G coverage via Verizon’s networks. You also get unlimited hotspot data, albeit at maximum speeds of 5Mbps.
• Best deal for new customers: Mint Mobile charges only $15 per month for the first three months of service for unlimited talk, text, and data with a 40GB data cap.
• Best family plan : The AT&T Unlimited Starter SL plan comes with ActiveArmor security, a nice chunk of hotspot data, and lower rates per line as you add more lines together.
• Best budget option for a single line : Tello sticks to the basics with its 10 GB Data + Unlimited Talk & Text plan. For just $19 a month, you get a solid chunk of high-speed data that works over T-Mobile's 4G LTE and 5G networks. You can also use the data for your phone's hotspot. 

Quick guide to this article:

• T-Mobile: Best unlimited plan for a single line

Verizon: Best coverage

Visible: best overall value, mint mobile: best deal for new customers.

• AT&T: Best family plan
• Tello Mobile: Best budget option for a single line
• How to pick a cell phone plan
• Best cellular coverage
• Best wireless speeds

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How did we pick the best cell phone plans?

Reviews.org does extensive research to compare and contrast prices on cell phone plans—but price isn’t everything. To determine the real value of a good cell phone package, we pay close attention to important factors like the coverage you get and data speeds on the carrier’s network. We go into more detail on these two driving factors and others farther down on this page .

After looking over the fine print for pricing, speeds, high-speed data, and more, we reach out to folks in different areas of the country and scour platforms like Reddit and Quora for firsthand accounts giving us insights into the cellular carriers and plans we want to highlight. We also try to get hands-on experience with cell phone plans when it’s possible to do so. With all those considerations, we can make reliable recommendations.

Reviews.org makes money when readers click our sponsored links, but I researched and wrote this piece independently. Our brand partners do not read or preapprove our pieces before they are published.

T-Mobile Go5G Plus: Best unlimited plan for a single line

Cellular carriers have been leveraging partnerships with streaming companies and other brands to offer “everything but the kitchen sink”-style phone options lately, and T-Mobile’s Go5G Plus is a perfect example. One of T-Mobile’s flagship unlimited plans, it offers truly unlimited high-speed data, 50GB of hotspot data along, and some major perks, including subscriptions to Netflix and AppleTV+ (with 4K streaming), a free one-year AAA membership, and T-Mobile Tuesday discounts.

This is a perfect option for regular travelers and others who regularly need phone and internet while away from home. A Wi-Fi hotspot data cap of 50GB gives you a lot of flexibility for streaming, gaming, and remote work on multiple devices. The plan also includes unlimited texting and 5GB of priority data when you travel internationally—and 15GB of data for Canada and Mexico.

It’s well worth considering a lower-tier T-Mobile unlimited package (such as Go5G or Essentials Saver) if you don’t need all the bells and whistles that come with Go5G Plus. But no other carrier compares to T-Mobile when it comes to mobile perks, and all of the flexibility, firepower, and extras you get on this plan more than justify the higher cost.

Pay half price for the same T-Mobile coverage

If you want to get a good cell phone plan that operates on T-Mobile’s network, you can always opt for a prepaid carrier. Prepaid carriers (otherwise known as MVNO or mobile virtual network operators ) use the same networks as the major carriers, but charge significantly less for unlimited plans.

Tello’s unlimited data plan costs only $25 a month and uses T-Mobile’s network for service. Just know that Tello's unlimited plan comes with a 35GB data cap, and once you pass that data allotment, your speeds slow to an absolute crawl. Stick to Wi-Fi as much as you can, and you shouldn’t come close to passing the data cap.

Verizon has long held a strong reputation for cellular coverage, and it still delivers excellent service across most of the country today. Verizon’s 4G LTE network covers 55% of the country ( according to federal data ) and it gets the best ratings for coverage experience from Opensignal, an analytics organization that monitors cellular networks. That makes Verizon’s Unlimited Welcome plan the way to go if you need an ultrareliable cellular carrier or live in an area that otherwise gets spotty service.

Francisco Ruiz, an avid road tripper living in Los Angeles told Reviews.org about an experience where Verizon’s coverage made all the difference. “We blew a tire on the I-15 freeway near Barstow and were miles away from the nearest town,” Ruiz said. “I was the only one in our group who used Verizon—and the only one who could get a signal to call AAA.”

Verizon takes a thrifty approach to perks

The Unlimited Welcome plan also offers discounts and benefits as part of a unique slate of $10 per month add-ons. Services include mobile hotspot data, TravelPass credits, and subscriptions to platforms like Apple One and the Disney Bundle ( Disney+ , Hulu , & ESPN+ ). Some of the discounts are pretty slim, and it would be nicer if you could get the benefits for no additional price. But the $10 add-on structure makes it so you can pick and choose. It also brings down the overall price of an unlimited plan, letting you cover all the important fundamentals (like 5G Ultra Wideband access and unlimited high-speed data) at a relatively affordable price.

Pay half price for the same Verizon coverage

Verizon’s cell phone plans can be costly, but you can get a cheaper unlimited plan on Verizon’s network with a prepaid MVNO carrier.

Looking for an alternative to Verizon? If you already pay for Spectrum or Cox internet , you can bundle your internet and cell phone packages together for a discounted rate. Going with one of these providers is a great option if you need a simple, low-cost cellular plan that still delivers solid cell service over the best 4G LTE network coverage in the country.

The first thing you notice about Visible is the price: An unlimited phone package for only $25 a month is absolute steal. The fact that you get unlimited talk, text, data, and mobile hotspot data for such a low fee makes Visible one of the best value cell phone plans on the market.

As you can read in our full-length Visible wireless review , you do have to accept some limitations with this carrier. The baseline plan operates on Verizon’s network, giving you the best cellular coverage in the United States. However, you don’t get access to the fastest data speeds on Verizon’s Ultra Wideband 5G network—that requires an upgrade to Visible+, which costs $20 more per month.

The hotspot data on this plan is also capped at 5Mbps. But you get unlimited hotspot data, and in a switch from how things used to be, Visible allows you to connect more than one Wi-Fi device at a time. Slow it may be, you still enough speeds to stream in standard definition and browse the internet—a handy option if you’ve got a toddler in the backseat who just has to watch Disney+ on their iPad during a long drive or you need to do some work while at a hotel.

Currently, nobody can beat Mint Mobile 's unlimited plan that costs just $15 per month for the first three months of service. Even after those three months are up, Mint's $30 unlimited plan still has most cell phone packages beat when it comes to price. If you ever find yourself in a situation where you need good cell phone service for at least a couple of months, look no further.

You won't always get the fastest data speeds with a prepaid carrier. But since Mint uses T-Mobile's fast 5G network—the fastest and most widely-available 5G in the country —that means you can get download speeds on your phone up to 50Mbps. 

Occasional data speed throttling

Mint Mobile customers might occasionally see their data speeds throttled during peak-usage periods or when the network gets congested with too many users. If tons of people are accessing the internet at the same time on T-Mobile's network, the carrier gives priority to its brand-name customers and sends prepaid customers to the back of the line.

You're much more likely to run into data throttling in a big city or at a crowded concert or sports game. But if you're out in the suburbs or living in a rural area, you’re less likely to see slowdowns.

AT&T Unlimited Starter SL: Best family plan

On its own, the AT&T Unlimited Starter plan costs $66 a month, but the price per line drops significantly when you add more lines. Three lines or more make the plan just $45.99 a month per line, and you can get it down to $35.99 a month per line when you get a family plan with four or more lines together.

The total savings on this plan adds up to $380 every month. AT&T has a lot of great cellular plans , but this one hits the sweet spot because you also get unlimited data, 5GB of high-speed mobile hotspot data every month, and you can even get a free phone with the trade-in program. What sets this AT&T family plan apart from similar plans offered by T-Mobile and Verizon is the extra security features. All AT&T plans come with a feature called ActiveArmor that alerts users for suspected fraud and spam. If you’re worried about family members getting scammed, this feature offers some peace of mind.

Tello Mobile 10 GB Data + Unlimited Talk & Text: Best budget option for a single line

A prepaid provider running over T-Mobile's 4G LTE and 5G networks, Tello gets you a simple deal that's perfect if you make a few calls a week and use your data for standard social media scrolling. T-Mobile has the biggest 5G network in the country and excellent coverage overall, so you can get reliable cell service on this plan for a bargain price.

The plan costs just $19 a month, and while it doesn't give you as much data as you get from other carriers, 10GB a month is still enough to get a modest streamer or social media scroller through the month. You can also use your phone's hotspot with this plan; just be careful how often you use it, since the hotspot data comes out of your total 10GB monthly allotment. 

If you need more data, you can always upgrade to the unlimited plan, which gives you 35GB of data for just $6 more a month.

Want to know more about Tello? Take a look at our Tello Mobile review .

What to look for in a cell phone plan

Here are a few tips to keep in mind when deciding on a cell phone plan:

A reasonable price: The average phone user spends $66 a month on a cellular plan from one of the “Big Three” carriers (T-Mobile, Verizon, and AT&T). But many cellular customers would be just fine paying $39 a month for a prepaid plan from an MVNO like Visible or Mint. Make sure to compare prices and think through what features you really need before committing to a phone plan.

Enough high-speed data to last you the month: About 10GB of high-speed data a month is a great start for many users, but consdering the average person checks their phone 144 times a day , you may need more or less depending on how often you use your phone to go online. Many cell phone plans are advertised as “unlimited,” but they come with a cap on high-speed or “premium” data that gives you a fast connection over 4G LTE and 5G networks. You may need to look at the fine print to figure out how much high-speed data you’re getting.

Adequate coverage for where you live: Not all mobile providers have reliable service in every part of the United States. Verizon has the best 4G LTE cellular coverage in the country, but T-Mobile has the biggest and fastest 5G network. See our breakdown on the best carriers for coverage to get a sense of which carrier works best for you.

Mobile hotspot data (if you need it): Do you like taking your laptop and working on the beach? Some cell phone plans offer designated high-speed hotspot data every month, and you can also sign up for a separate data plan that lets you power a mobile hotspot device capable of hitting faster speeds and connecting more devices. 

A discount for two lines or family plans: Many carriers offer a discount per-line when you open two lines or more on a package, giving you a break on the overall cost of your monthly bill. This is usually referred to as a family plan discount, but you can add anyone you want on an extra line—including friends or even neighbors.

Which wireless carrier has the best cellular coverage?

Verizon has the best cell phone coverage for 4G LTE users nationwide, while T-Mobile gets the best 5G coverage.

Analytics company Opensignal credited Verizon for offering the best 4G LTE coverage in the country. Those results track with our experience comparing the top cell phone coverage in the United States. While usage of 5G phones is on the upswing, 4G coverage is still more prevalent than 5G. So you’re best off with a plan on Verizon’s network over AT&T and T-Mobile for coverage.

Network coverage experience

Opensignal’s “coverage experience” rating measures “the extent of mobile networks in the places people live, work and travel,” according to its report. Taking in both percentage of land and population covered by cell service, the rating reflects the users’ experience as they travel around areas where cell service should be readily available.

Every cell phone plan we recommend uses at least one of the Big Three major networks: AT&T, T-Mobile, or Verizon. These networks stretch across the United States but can offer wildly different experiences depending upon your exact location. For example, a Verizon customer in Des Moines, Iowa might get better cell reception than a T-Mobile customer in the same city.

The best way to find out what coverage to expect in your neighborhood is by entering your zip code in our coverage map and swap between the networks to see what network offers the best coverage for you.

Which wireless carrier has the best wireless speeds?

T-Mobile gets the fastest data speeds on average, according to Opensignal. The analytics company rates speed through the Download Speed Experience metric, which measures users’ everyday experiences with 4G and 5G wireless networks—and T-Mobile blows the competition out of the water.

Faster internet speeds mean you can download and upload files faster and watch YouTube videos without buffering. But fast speeds also make it possible to do more things on one device. For example, fast speeds mean you can download an app in a shorter time while also getting up-to-date traffic info on your GPS app in between streaming YouTube videos.

Average download speeds

Recap: What’s the best cell phone plan?

There isn’t really a one-size-fits-all best cell phone plan. That’s why we break down our recommendations into categories. Here are our best-in-choice cell phone plans for our top six categories:

• Best unlimited plan: T-Mobile’s Go5G Plus plan offers unlimited high-speed data, including 50GB of hotspot data, for $90/month per line. Go5G Plus customers also unlimited international texting, 5GB of international high-speed phone data, free subscriptions to Netflix and AppleTV+, and a free AAA membership for a year. And with T-Mobile Tuesday deals, Go5G Plus’s perks are practically unlimited.
• Best coverage : Verizon offers the most reliable coverage no matter where you go in the country.
• Best overall value : Visible gets you unlimited hotspot data (with max speeds of 5Mbps) for just $25 a month, making this a nice plan for small families and road trippers.
• Best deal for new customers : Mint Mobile offers its unlimited talk, text, and data plan to new customers at half the price for the first three months of service.
• Best family plan : The AT&T Unlimited Starter SL costs $66 a month on its own, but the price plummets down to $36 monthly if you get a family plan together with four or more lines.
• Best value phone plan for a single line : Tello’s 10 GB Data + Unlimited Talk & Text only costs $19 a month and gets you a solid little chunk of data and excellent coverage over T-Mobile's 4G LTE and 5G networks.

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