How to Raise Funds for Your Mobile App
Many small businesses offer quality products and services to their customers which would convert into excellent mobile applications. Your business could become the next Amazon, if you have the right amount of funding to support your business requirements at the start of the process. You’ll need to show investors your product and the potential of your mobile app. Before you can get in front of an investor, you will need to build the foundations as an effective idea isn’t the only thing you need. Creating an impressive prototype, will enable you to build a level of public interest and brand traction. You will need to produce something more solid to persuade investors that you have the next big product on the market. Here are some ways that you can raise funds for your mobile app.
Small Business Bank Loan
A small business bank loan is a great way for your start-up to secure a loan that will accommodate your business needs. If you have a strong business plan, which includes numbers and figures that are correct, there is more of a chance of securing a small business bank loan. Each bank will offer you a slightly different loan depending on their understanding of your circumstances.
Find a Business Partner
Have you got someone that believes in your product and can invest in you? Even if your investor is in another field, they could invest in your business without knowing anything about your sector in return for a percentage of the profit you make. This is an ideal way of funding without having to pay interest on your bank loan. A silent business partner has a limited contribution to the partnership; they provide capital. This ensures you maintain control of the business and your business partner is unable to interrupt the day-to-day running of the business. If you’re looking for silent business partners, there are a variety of platforms that will enable you to connect with like-minded individuals who can help support your business in its early stages.
Apply for an App Contest
Annually, many companies open competitions for people with app ideas that haven’t yet made it onto the market. If you enter your mobile app idea and if the app gets chosen by a professional panel, you could have an investor for your mobile application. Whatever the outcome of the competition is it’s always useful to enter as it gives your app exposure to a range of industry experts that may love your mobile app and decide to invest, or, at the very least it will help to enhance brand visibility and awareness.
Crowdfunding is for small businesses that may have a project idea and want to raise funds by large numbers of people donating via the internet. It’s a win-win situation for any small business as it doesn’t only raise the funds you need, but it puts you in front of potential investors that are interested in your product. To start, you simply have to post your concept/idea onto the crowdfunding website and then wait for people that are interested in your mobile app to start donating.
Contact Appoly for Mobile App Development
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