How much funding should you allocate for your project?

Do you have a business idea and want to take it to the digital realm? Then, you are where you need to be! You are about to read a market study that will give you an idea of the budget you need. Usually, one of the first and most important questions you ask yourself is: How much should I budget for my project?

It is challenging for entrepreneurs to obtain information on the price of:

1. a presentation site:

2. an online shop

3. a mobile application

4. a SaaS application

5. a web application.

Why? The answer is simple: digital agencies cannot post the actual price of these services because each project of this kind is created differently, and the prices are directly correlated with the work behind it. In short, the price may decrease or increase, depending on the contractor's requirements.

To make your path more accessible, we will explore what are (primarily) the costs for your projects in Europe.

1. How much does a presentation site cost?

The price of a presentation site varies a lot depending on how big it will be, its functionalities, the technologies used, and the difficulty of its implementation. If you opt for the variant of a costume website created, coded, and implemented from scratch, with a unique design, you should know that the prices on the Romanian market vary between 1500 euros and 3000 euros. Negotiations are only accepted when your requirements decrease. But be cautious not to be overwhelmed by price differences. The competition in the IT field is extremely high, and the price differences can catch your eye. If you are interested in the quality of the final product, look for collaboration with the company that will ensure the achievement of the goal. The quality costs, but the price is certainly justified.

2. How much does it cost to set up an online store?

First of all, you need to know that there has never been a better time than now to move your business online. Statistics show that internet traffic has increased by at least 20% over the previous period with the onset of the pandemic. Furthermore, according to the Association of Online Stores estimates, the e-commerce sector exceeded the threshold of 4.3 billion euros at the end of 2019, when the importance of online commerce had been estimated at 3.6 billion euros. If these numbers make your heart skip a beat, let's move on to prices. For creating an online store from 0, the prices differ depending on the size of the store, the number of products, filters, categories, marketing tools, custom implementations with stocks of other software, etc. The price can start from 3500 euros and can increase to 20,000 euros.

3. How much does a mobile app cost?

If you are considering developing your application, you need to understand that the process of creating it is not just about writing code and design. The developer should go through some essential steps before they reach the end-users. That's why the costs are a tad higher. So, to develop the complete package for a mobile application, available on iOS, Android, and Windows Phone, the lowest price is 8000 euros. This is when you want to have a basic application. But, again, as mentioned before, the price increases with the complexity of the product, which can reach up to 100,000 euros, including first-year maintenance services. According to one of the most significant statistics sites globally, "Statista," the estimated number of smartphone users by 2025 will increase by 15.82 million. Sounds tempting.

4. How much does a SaaS application cost?

Software as a Service (SaaS) complicated? Because not all of our readers are in the IT field, we'll briefly explain what this application does. SaaS permits users to link to and use cloud-based applications over the Internet. Typical examples are email, calendar, and office tools (such as Microsoft Office 365). SaaS offers a comprehensive software solution that you purchase for a fee from a cloud service provider. Rent an application for your organization, and your users connect to it through the Internet, usually with a web browser. According to the market study we conducted, the prices for such an application start at 15,000 euros and can reach up to 100,000 euros.

5 . How much does a web application cost?

In developing a web application, the cost decision-makers are made up of the complexity and size of the application. Also important to note is that a 3-page web application can be more expensive than a 20-page application if it needs advanced integration, such as synchronization with an external server, a database, or generating documents, such as invoices. In short, the more efficient the application, the more elaborate the calculations, and the ability to export the information in as many different formats as possible, the higher the cost of web development. A web application that requires large databases and an extensive content volume could cost you somewhere between 20,000 and 100,000 euros or may even exceed your requirements.

Companies may add additional fees based on the following: