It's difficult to get people to download your mobile app and encourage them to use it. Even if your app is the most amazing thing ever, you will likely fail to monetize it and grow it when you reach a certain ceiling.
That's why selling your mobile app or creating an earn-out-based partnership is so important! You need to sense the right time to sell your mobile app in 2023 and cash in your digital assets.
So, how do you effectively sell your mobile app? Let's talk about it.
Why should you care about selling your mobile app?
Even if they're profitable, developers sell their apps. Similarly, mobile-first and profitable startups are closing their doors due to many factors, as published in the Startup Failure Analysis Report from 2018 to 2022 by BlueThrone.
.Personal reasons: A major chunk of mobile app developers want to sell their mobile apps due to family reasons and financial demands.
.Tax benefits: The U.S. tax system charges a lower amount of tax on mobile app sales as it categorizes the app selling as capital gains.
.New venture: Developers are creative, and they always want to develop new projects that are more interesting and profitable.
.Incapable of growing: There's only so much an indie developer or a small studio can know, manage and do.
What is the current mobile app-selling landscape?
Before you think about selling your mobile app, you should ask yourself these questions:
1.Do you know where to sell your mobile app?
2.What makes your app unique? Why should someone buy it over other, similar apps?
3.How will you reach the perfect mobile app buyers and get them interested in your app?
Most mobile app developers also want to know about the potential selling price. So, how much can you sell your mobile app for?
Calculate the profit and gross revenue of your app. Subtract all of the expenses you're incurring to generate this revenue, such as app store fees, server costs and support. Your app is worth 12 to 36 times its monthly profits.
How do you successfully sell your mobile app in 2023?
There are two ways to sell your mobile apps:
1.Sell on popular marketplaces like Flippa, Sellsideprojects and Transferslot. You can share your mobile app and sell it as a standalone product. This is best for small apps.
2.You can communicate with fellow developers and groups, and transfer your developer accounts to transfer the ownership of your mobile app for a suitable price.
Many app developers don't have clear knowledge about the financial side of their apps and the app selling process. App brokers--though not all of them--leverage this factor to take unwanted advantage.
To summarize this article in a few key points, if you are a mobile app developer and want to sell your app, then focus on these key issues:
.Why do you want to sell your app?
.Is your mobile app profitable? How much of a monthly profit does it make?
.To whom is best to sell your app?
.When is the best time to sell your app?
If you come up with strong answers to these questions, then you are ready to sell your mobile app and make the most out of it.
The original content of the note was published on Inc.com. To read the full note visit here