5 Steps To Your Mobile App Funding

If you already have an mobile app idea in your mind, you are very likely to be eager to get started with it. Aye, you must get it rolling as time to market is very important once you have validated your business concept. A recent report by Technavio found that the mobile app market is expected to grow by $497.09 billion with a CAGR of 21% during the post Covid world 2020-2024. The report suggests that there is a positive impact of Covid-19 on the mobile app market.

Infographics Source: Businesswire

To transform your app idea from paper to an actual mobile app, the best option is likely to be to hire a mobile app development company, unless your best friend is an amazing coder. Be it in-house development or outsourcing, mobile app development is a proposition that requires significant investment. While depending on the app specifics and the feature sets, the cost of mobile app development varies. Generally, the mobile app development cost ranges between $15,000 to $80,000. It can go beyond the higher value depending on the app complexity and features.

Not just the app development cost, there will be many other overheads such as user acquisition and marketing, hiring, and other operational expenses. All of it means that if you do not have a significant amount of funds to self-finance your project, you will instead need to raise capital to build and operate your mobile app. So, how do you go about getting mobile app funding? What are the steps to seek funding for an app?

A general answer to these questions is that you gain mobile app funding the same as you would get funds for any other business or startup. You can raise capital from your business contacts or investors. People need to believe that your app idea can generate ROI (return on investment) and is worth investing in. Some mobile apps raise millions of dollars of capital even before pre-development, whilst others struggle to get investment even once the application is live. However, apps getting million-dollar capital investments usually pitch with a clickable prototype of the app. These prototypes clarify the app idea to the investors by illustrating the app functionalities. Click here to knowhow to build interactive mobile design prototypes.

How to Find Initial Funding For Your App Startup?
Most of the times when people think about raising mobile app funding for their startup, they immediately jump to venture capitalists. It is obvious as “Venture Capital Investments” is a very popular term. Venture capitalists make some of the biggest investments and are seen as the “big fish” in the startup funding world. So, venture capitalists is the obvious option, but what are the other options you can look at?

5 Steps to Starting a Lucrative Wedding Venue Business

If you are thinking about quitting your corporate job and becoming an entrepreneur, then the thought of starting a wedding venue business might have crossed your mind.
The thing is couples love to spend a lot of money on their wedding celebrations. As a result, the wedding industry globally generated up to $160.5 billion in 2020. So, if you want to start a business, you should definitely consider owning a venue for weddings as it is very affordable.
Not only will this help couples enjoy and plan their wedding day to the fullest, but it will also allow you to take part in an industry that is worth billions of dollars.
To help you in your journey of becoming an entrepreneur, we give you the steps you will need to start your wedding venue business.
5 Steps to Starting a Lucrative Wedding Venue Business
5 Steps to Starting a Lucrative Wedding Venue Business
Photo by Shardayyy Photography from Unsplash
Create a wedding venue business plan
No matter how simple starting a wedding venue business may seem, it is important that you have a plan to follow. To make the process easier, you can use a wedding venue business plan template to help you build a successful business.
The template will serve as a guide consisting of various strategies you will need to use to achieve your most important goals for your wedding venue business. It will help make you informed decisions about key elements of your business, such as investments and resources. This plan is also required if you are looking for financing from a bank.
Remember to update your business plan as your business evolves so you can keep things running smoothly.
Find the ideal location
Once you have a solid business plan, your next step is to search for a property that can be transformed into the ideal wedding venue. For example, if you are looking for a rustic look, you can search for rural properties such as a barn that will serve as the wedding venue for your upcoming project.
On the other hand, if you are looking for something more urban, you should know that the property costs in these areas will depend on where you live and how the facility is maintained.
When choosing a location for your business, ensure that you have easy access to public transport and that the space is well ventilated.
Also, be sure that there is a flexible lease that can easily be extended as your business grows.
Protect your business with insurance and permits
As is the case with any business, you will need to consult your local authorities to obtain the licenses and permits necessary to open your wedding venue business. The process will typically involve the registration of your business, getting a business license, as well as obtaining liquor, food, and building permits.
In addition to getting your legal permits, make sure you obtain insurance to protect your business, yourself, and your employees from liability. There are two essential types of insurance that you will want to consider and these are employer’s liability insurance and public liability insurance. You may also need special equipment insurance if you have valuable art, antiques, or furnishings.
Offer flexible packages
You might consider other options to make it easier for your clients to hold their wedding at your venue, considering that they can be expensive. You can offer a variety of options, including seasonal discounts and installment plans. You may also consider customizing packages to meet client needs.
For example, you can think about offering up your space to couples that are looking to elope but still want a photographer and a beautiful venue for their ceremony. You can partner up with a local pop-up wedding vendor to provide these types of experiences to people who want to tie the knot in a special and memorable way.
Build a marketing strategy
To promote your business, you and your team must create an integrated marketing strategy. It is not only your ability to plan and execute a wedding, but also your aesthetic and style that matter in this industry. Hire guest bloggers and partner with influencers to market your venue using high-quality images.
If you want your business to achieve even greater success, you should also consider creating a user-friendly website. It should be compatible with all devices and optimized using both on-page and offline SEO.
5 Steps to Starting a Lucrative Wedding Venue Business
5 Steps to Starting a Lucrative Wedding Venue Business
Photo by Adem AY from Unsplash
Final thoughts
Although there are plenty of business ideas you can consider for your startup, launching a wedding venue business is one of the most lucrative ideas for upcoming entrepreneurs. The wedding industry is one of the ever-growing industries in the world, allowing people to start a successful business while helping couples have the best time getting married.

Hybrid vs Native App Development: Why Hybrid Takes the Lead

Understanding the Mobile App Landscape
Mobile apps are an integral part of our daily lives, with users expecting seamless performance and engaging experiences. The choice between native and hybrid app development can significantly influence the success of your mobile application. Native apps are designed for specific platforms like iOS or Android, using platform-specific programming languages such as Swift and Objective-C for iOS, and Java or Kotlin for Android. On the other hand, hybrid apps employ web technologies like HTML, CSS, and JavaScript to create a single application that operates across multiple platforms.

The Significance of User Experience
The user experience (UX) is paramount in mobile app development. While native apps have historically provided superior UX due to their platform-specific optimization, hybrid apps have made significant strides in closing this gap. According to a Kinvey report, businesses find that developing a mobile app is challenging, with 56% rating their experience as ‘somewhat challenging’ to ‘very challenging’. The choice between native and hybrid can influence this complexity.

Native vs Hybrid: A Comparative Overview
Native apps are renowned for their high performance and ability to leverage device-specific features, making them a popular choice for applications that require complex calculations, high graphics performance, or tight integration with device hardware. Financial institutions often prefer native apps for their enhanced security features.

Hybrid apps, however, offer a compelling advantage in terms of development speed and cost-effectiveness. By writing a single codebase that works on both iOS and Android, developers can bring an app to market more quickly and update it simultaneously across all platforms. This approach is particularly attractive for small to mid-sized companies and startups operating with limited budgets and tight timelines.

The Evolution of Hybrid App Technologies
The landscape of hybrid app development has evolved dramatically, thanks in part to frameworks released by tech giants like Google and Facebook. For instance, Google’s Flutter and Facebook’s React Native have bridged the gap between the performance of native apps and the versatility of hybrid apps. These frameworks allow developers to create apps that are nearly indistinguishable from their native counterparts in terms of user experience.

The Hybrid Advantage in Numbers
Statistics reveal a growing trend towards hybrid app development. According to a Statista survey, as of 2021, 42% of software developers used React Native, making it the most popular cross-platform mobile framework. This indicates a significant shift towards hybrid app development practices.

Case Studies of Hybrid Success
Some of the most popular apps in the market today are hybrid. Instagram, Uber, and Twitter have all leveraged hybrid development to their advantage, achieving widespread adoption and high user satisfaction. These success stories underscore the potential of hybrid apps to deliver robust, scalable, and user-friendly experiences across multiple platforms.

Conclusion: The Hybrid Horizon
The debate between native and hybrid app development is less about which is superior and more about which is most suitable for your specific business needs and goals. With the advancements in hybrid app technologies and the increasing demand for cost-effective, cross-platform solutions, hybrid apps are proving to be a winning strategy for many businesses looking to make a mark in the mobile app space. As the technology continues to mature, we can expect hybrid apps to play an even more prominent role in the future of mobile app development.