We’ve done this enough times to know that there are typically one of two ways this can go (with rare exception):
- Your idea is fairly simple and a team of 5 is sufficient to reach a timely MVP.
- Your idea is complex and a team of 7 is needed in order to reach a timely MVP.
If your idea is determined to be ‘simple’, that would indicate that we believe that we can complete the development of the MVP with a team of 5 people. Duration being 8 months + 2 for testing and debugging.
If your idea is determined to be complex, that means that we believe that we need a team of 7 people in order to deliver the MVP within 8 months + 2 for testing and debugging.
We DO NOT promise MVP’s quicker than 8 months. We’ve learned from experience that doing so puts too much strain on the team and quality is diminished. We do not compromise on quality.
Now that you understand team/personnel size, let’s talk numbers and equity.
Co-Founders Nate and Soren make up two of the team members always. Nate is responsible for project management. Soren is responsible for IT management and quality control. The cost for Nate and Soren’s service is $1,500 per month each. That’s $3,000 per month for both.
The remaining team members are frontend and backend developers. All highly experienced and well adapted in working as a team. Our developers work at a rate of $2,500 per month each. That equals $7,500 per month for 3 developers or $12,500 per month for 5 developers.
The only additional cost involved in this early stage is hosting and UI/UX design.
Hosting: We typically need 2 servers during development and certainly after launch. During development those 2 servers will run you less than $100 per month. After launch price depends on infrastructure and server requirements.
UI/UX design: If you already have a completed User Interface design, we can skip this stage. If you would like for our team to design the User Interface for your app, it will cost an additional $3,000. You can catch a glimpse of our quality here: https://www.behance.net/wefoundd
Now let’s crunch some numbers!
If you have a simple app and you only need the team of 5, you would be looking at the following numbers to get you to a completed and polished MVP:
Nate & Soren: $3,000 X 10 months = $30,000.
3 Full-time developers: $7,500 X 10 months = $75,000.
Hosting: $100 X 10 months = $1,000
User Interface design: $3,000
Grand Total to reach simple MVP: $109,000.
If you have a complex app and you need the team of 7, you would be looking at the following estimate to get you to a completed and polished MVP:
Nate & Soren: $3,000 X 10 months = $30,000.
5 Full-time developers: $12,500 X 10 months = $125,000.
Hosting: $100 X 10 months = $1,000
User Interface design: $3,000
Grand Total to reach complex MVP: $159,000.
Of course, you can use our services to develop your app at the above pricing. As we do offer our development services without strings attached. But if you would like to ease that number and give up equity in exchange (granted we accept your pitch), we offer the following:
In exchange for 7% equity, we will give you a 45% discount on the above development pricing.
In exchange for 15% equity, we will give you a 65% discount on the above development pricing.
In order to be considered for the equity discount, you would have to pitch us and we’d have to be interested in your venture personally. As explained on the qualifications tab.
