An on-demand app idea can add some dollars to your bank balance. Would you like it?
Here’s how Scarlett did it:
Scarlett – a 31 year old single mother from New Haven’s worked for an American airline at JFK airport. To commute from her home to workplace, she used her car.
But, this was burning a hole in her pocket. She had to shed out a significant chunk of her earnings, just to commute. As a solution, she decided to carpool.
But, unluckily that option didn’t work well with her. For two reasons:
- Her personal safety
- Her odd shift timings
She thought her problem might get resolved if there was an app for women carpoolers which would let her communicate with fellow carpoolers.
Scarlett is a smart working women. She thought if there isn’t such an app, why can’t she develop one? If such an app will solve commute problem for her, it would solve similar problems for others.
Developing a Mobile App was a totally unknown area for her. She asked some of her friends and learned that it might take about $12-$15k to develop such an app and those $15k may be recovered within first 90 days!
She also learned that currently on-demand apps are in high demand.
She thought she should develop such an app but then it was the time for her to stuck up.
She didn’t know how to transform this idea into reality. And since she did not know what to do next she started thinking if high demand of on-demand app is just a bubble?
One of her friends, Peter asked her to send an email to email@example.com and talk about the idea. Yes, that’s right. That’s our email address (and Peter is our longtime client).
And here is the crux of our conversation:
On-demand apps are actually in-demand!
Consumer behavior is changing at speed of thought! They want everything instantly, with just one tap on their smartphones! On-demand business model answers this urge for instant gratification.
Around 42% of adult population in the USA has at least one used On-demand service, according to Burson-Marsteller. (source)
Uber is a classic case how an idea can get you a successful on-demand app! A company which started on-demand cab services in 2009, generated US$ 1.5 billion in just 5 years. (source)
Today, there are on-demand app for everything – right from food delivery to grocery stores – which promises to serve you, at your doorsteps!
Just a killer app idea and you can fill your pocket with dollars. *dollars in eyes*
Sounds sexy, doesn’t it?
Well, it is not that simple and sexy.
You’ll need a unique idea that solves a real problem of real customers but don’t give up for fear of competition or if this whole on-demand apps is part of some bubble.
Future of on-demand apps
Will this bubble burst?
First, it is not a bubble. And even if it is a bubble, if you solve a real-world customer problem with your app idea, then even if the bubble bursts, it won’t impact you negatively.
According to the survey of on-demand app in the USA by Burson-Marsteller’s:
- Around 86.5 Million Americans, i.e., 42% of adult population have used on-demand service, at least once.
- About 22% of adult population have offered services for on-demand apps.
- Approximately 51% people who offered services for on-demand economy admitted that their financial situation has improved considerably in past year.
- About 64% of those who offered on-demand services are hopeful about improving their financial situation in coming year.
Since the on-demand concept is strongly tied up with basic human behavior – instant gratification – Venture funding firms are also eyeing on validated ideas in the nice.
Compared to 13 investments in 2010, the deals jumped to 79 deals in 2014. This was equal to $4.12 billion. (source)
With this data, it is safe to say that on-demand apps are here to stay. For quite some time.
And you will make some good money if your idea is around this niche.
What about the Competition?
Yes, the niche is competitive – There are many players in the industry. But, let’s see the silver lining here! The niche is validated.
All it needs is right ingredients. A unique idea + good engineering + excellent UX, and your app can start bringing profits, even in competitive market!
Though, there is too much uberification of everything, these day, you can beat the heat of competition – Just identify an unexplored sub-niche.
In Scarlet’s case, she wanted to have a carpooling app that is exclusively for women! She targeted women, giving them a secure option to commute. This made her app a hit!
You can even plunge into a least explored industry segment. For example, build an app that delivers life-saving medicines to the customer’s doorstep!
This was just one of the 100 such ideas that solve our day-to-day problems. And even if there’s an app exists that solve the same problem, you can always bring in your unique perspective in terms of UX and functionalities.
There is an ocean of opportunities – You just need to explore it and identify the areas where you can pitch in your unique app idea.
The Budget Question
A good on-demand app may be developed for around $12-$14k but it can go as less as $6k or as high as $60k, it all depends upon the technical complexity of the idea being developed.
Want to find out more? Contact us!