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The Real Cost of Creating Your Own Fitness App

#RealTalk

Con Mitsios &
Kareena Mitsios

Founders of Loop App

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About this episode [listen below]

If you're an Influencer that aspires to have their own fitness app or you're in the market to launch one soon, take a listen to this episode where we chat about the real costs of creating your own fitness app. We take you through the process step-by-step and give you an overview of what and who is involved and what it'll take to get your app to market.

Transcript below. 

"You have to go to where your customers are. If your customers are searching on a desktop, then that's where you should distribute to. But if they're on their smartphone, you've got to distribute on the smartphone. It's just intuitive. As the years progress, more and more people are going to be using their smartphones and less using their desktop."

"Finding a great partner for development is hugely important but don't rely on that person to bring all those skills to the table…Do your own research because costs can grow exponentially if you don't know what you're doing or what you're talking about." 

- Kareena Mitsios

- Con Mitsios

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GUESTS ON THIS EPISODE

Kareena Mitsios

Kareena is the Co-Founder of Loop App. She has had a long career as a Strategic Marketer but her passion lies in empowering people to take control of their fitness, health and wellness. Her mission is to make knowledge and skills in these areas more accessible to all.

Con Mitsios

Con is the Co-Founder of Loop App and has worked tirelessly to bring his vision to life. Con is working to unite the fitness, health and wellness industries with modern-day technologies. He aims to support both the professionals that work within them by creating a new income stream and the consumers that want to feel fitter, healthier and happier.

Yeah, I think another thing that's really crucial that people often overlook is actually having a community side of the app…So just having an outlet for them to, you know, connect with other people other. Other like-minded people that are going through the same journey, that they are going through the same program and even support when they need it in case they're having trouble with anything. Or even if they just want to chit-chat. 

- Con Mitsios

EPISODE TRANSCRIPT

Con: [00:00:00] Toby Pearce actually has a really interesting story that he put out a few months ago. In the first version of their app, when it was getting developed, he said they spent half a million bucks on it and it didn't even get to working version.

 

Kareena: [00:00:12] Wow! Now that is a horror story for any budding fitness entrepreneur. But one that we can learn a lot from. So, if you're in the business of creating your own fitness app, tune in to hear how you can avoid these costly mistakes.

 

Kareena: [00:00:32] Hey there Loopers, welcome to another episode of In The Loop. This week. It is #RealTalk with Con and Kareena. Welcome Con!

 

Con: [00:00:42] Hey Guys!

 

Kareena: [00:00:42] This week we wanted to talk to you about the real costs of starting your own fitness app. Obviously, it's the business that we're in and we talk to a lot of influences who are aspiring to create their own fitness apps but most people don't know where to start or even what to look for. So, given that we've done all the research and the background and the building and all that fun stuff. We thought we'd well, explain what the actual process is and how much it really costs when you're doing it on your own. To kick us off Con, why don't you tell us, where should people start?

 

Con: [00:01:13] Yes there's a few things that come into it when building your own app. Obviously, the apps just portable you have to have your content to be able to sell so that people can actually follow you and work out with you, through the app. I mean, the app is the technology part that people can follow it through. And then at the end of it, you somehow have got to get it into people's hands.

 

Kareena: [00:01:33] So it sounds like a three-stage process. Three big stages. So, let's start from the beginning then. Creating the content. I guess, talking about that people have done it before. They've done it with eBooks, they've done it in clients even, so how do they do it for their own app?

 

Con: [00:01:50] Yeah, I think in terms of doing it for your own app, well like the content really comes into three different things that we're seeing at the moment. People doing workout content. People are doing nutritional content. And another thing that's up and coming a lot recently, people also doing mindset content.

 

Kareena: [00:02:05] Yes there is a lot in the wellness space that's coming through yet.

 

Con: [00:02:08] And I think it goes hand in hand with fitness these days. They're no longer like two isolated fields. They go hand in hand. I mean when you're working out you also need a sound mind.

 

Kareena: [00:02:16] It's a holistic approach. Which is definitely the current trend. Well not only a trend. I feel like it's an evolution of what fitness used to be so it's all encompassing.

 

Con: [00:02:25] It used to be from the ancient times, right? Like, healthy mind, healthy body. And now it's all of a sudden, it's come back. So, yeah, exciting.

 

Kareena: [00:02:35] This range of health and fitness topics are expected to be found all in the one app. And there are a number of ways to deliver these messages. So, we share our insight into the best way to get the biggest bang for your buck when it comes to creating content for your new fitness app.

 

Kareena: [00:02:49] So, I guess with starting content, people need to create those programs. And there is definitely a format that I think works best for apps that probably doesn't work the same way in a written e-book or something like that. Can you talk to us more about that?

 

Con: [00:03:05] Yes sure. So, when people creating content for apps usually they go the video route. Obviously, easier to follow. You get both the visual and they can also do audio cues in it. And what we're seeing a lot these days, a lot of other fitness apps have done it. They do their work out content in terms of exercises. Rather than filming a whole workout in one go they film the different exercises. And that way it just helps you further down the track. When you're wanting to get other workout, you've had the same exercise in it, instead of having to film it twice, three times, even ten times, if it's prevalent throughout the whole workout, like a push up might be, just film it once and then you kind of piece it together.

 

Kareena: [00:03:42] And there's a few reasons for that. It cuts down on time. People have to physically do these exercises that we're filming. So, if some poor soul that has to do it 100 times they can be very tired by the end.

 

Con: [00:03:52] I think that's the one thing people miss. Everyone, when they're making these programs, they get super creative with all the workouts they're going to do, and then all of a sudden when it gets down to filming. It's like, "Oh no! I've actually got to do all these?!".

 

Kareena: [00:04:06] Yes. And it's not that you have to do one take. We do a few takes just for good measure and safety. Sometimes you get different angles and things like that. So, they do have to do the exercises quite a few times. Outside of the time and the exhaustion factor, there's obviously, also cost. The longer a shoot takes the more it does cost. Whether you're doing it professionally or with a team like us or even on your own. Time is money for everyone. So, there is a considerable cost involved in filming these workouts. So, you went into an exercise library because it cuts down the cost and the time. You only have to film it once and it can be used multiple times later down the track. You can reconfigure entire workouts with the original content and without needing to reshoot. So, if you want longevity in your program and you want to be able to continuously create new content, that's definitely a consideration.

 

Con: [00:04:56] Yeah, I think also, the other thing that people miss. It allows you to change your program over time. So, when you're creating your program, you know, design your workouts and obviously, everybody thinks they're going to have a perfect workout. But at the end of the day, there's going to be people dropping out or dropping off or quitting halfway through. And if you got, in the form of an exercise library, you can see I guess, where people are dropping off. Find out why they're dropping off. And maybe just rearrange it. Maybe it was too hard, maybe it was even too easy. And you just reconfigure different workouts quite easily.

 

Kareena: [00:05:25] When you are creating an app, you constantly need to be creating new content. It's not something that you can put out once and then hopefully, have it for ten years. It's not that kind of product. It's something that needs to be constantly evolving and growing especially if you want to keep the user base that you acquire on the app which is the goal. Retention should be a key consideration with any fitness app and acquisition is a big cost to any business. Once you've got them they want to keep them there. And any way to do that is by continuously putting out content creating content.

 

Kareena: [00:05:55] Creating content can be a costly exercise. As an influencer, you're probably used to creating a lot of it on your own. But when it comes to creating a product to sell, you either need to have the skills that can be likened to professional photographer or videographer or consider outsourcing to someone that has a greater amount of experience in these areas. We weigh up the cost to do just that.

 

Con: [00:06:16] What about the other costs in terms of production? So, we've covered the filming process. Obviously, there's a few other costs involved. Do you want to take us through that?

 

Kareena: [00:06:22] Production is quite cost prohibitive for most people, I would say. There's a few options to do it or a few ways to do it. You could do it yourself. And by that, I mean you could do it on your mobile phone but if you're wanting to create a saleable product and something that people are willing to actually put money towards, you want to make sure it's high quality. I would probably go up a notch and get someone who is professional in that field to come in film you. So, that is a considerable cost that we can talk about because we have done our due diligence and gone out to market to find out what would it cost, on average, for a 30-minute workout video, to be filmed. We looked at getting 10 videos filmed, with a two-day shoot and the prices ranged from AUD$1500 for one, up to AUD$10,000 for one. So, we were getting ridiculous quotes, at like AUD$20,000, $AUD$70,000. And this is just to create that one program. This isn't even to have content that you can use later. This is one thing, edited as well but at the same time, that's a considerable financial outlay right from the get-go, for a product that you're basically just launching.

 

Con: [00:07:31] Well it's a product that hasn't even launched yet, right? That's the initial upfront cost. And then, that's done before even the technology comes into it and you have to do that upfront before you even get a dollar of revenue.

 

Kareena: [00:07:42] Yeah, so you better hope it sells. [laughs] Otherwise you're going to be out of pocket like that again. That's the risk. And the financial risk. Which is hard for anyone to take on.

 

Con: [00:07:52] There's also the other costs. That's in terms of filming. Then you need a space to do it.

 

Kareena: [00:07:57] Studio costs...

 

Con: [00:07:59] Studio costs can also range considerably too depending on where you want to do it.

 

Kareena: [00:08:03] From AUD$500 dollars to thousands of dollars per day. So again, it depends on how much content you want to film. But most companies charge you on a half-day to full-day basis to shoot. Whether your content takes one hour, you're still going to get charged half a day, or if it takes six, it's now a full day rate. So, you've got to really try and weigh up what it is you need and how quickly you can get it done. The other thing that comes into play obviously, there's varying levels of production styles and teams. You can have anything from a one-man team doing it to a 10-person team doing it and that's with people having very individual roles like a sound person, a lighting person, a director, a producer. There's just so much that can go into it that you've really got to know what it is you're looking to achieve before you go out to market and try and source someone that can help you with that.

 

Con: [00:08:53] How much do people that want a film about, I mean, I wouldn't even say a month, I'd say at least three month’s worth of content, so people can actually follow them for a considerable amount of time. From start to finish, just for the production side of things. How much are people, you know, if they do it professionally?

 

Kareena: [00:09:09] Yeah, to get, and I'm going to low-ball it. Like, from the from the cheapest one we found in market at AUD$1,500 a Video. If you wanted a workout program for, you said three months,

 

Con: [00:09:21] Yeah say 15-20 videos a month.

 

Kareena: [00:09:24] 20 video per month could cost upwards of AUD$50,000-$60,000. And that's a lot of money.

 

Con: [00:09:33] Most people's yearly salary.

 

Kareena: [00:09:35] Yeah. You'd have to be saving for a long time to be able to afford that. Yeah. Yeah looking at a considerable fee just up front. And, as we said, it's quite cost prohibitive which is what stops a lot of people from taking advantage of these opportunities and technologies which is actually what's kind of required these days to compete in this field. Fitness apps are coming up through the ranks. There are quite a few of them out there but at the end of the day, if you want to create your own and compete, this is what you're up for. And that's just from the content side of things. And I would say, that's a continual cost because as I said, you've got to keep producing. So, it's not just a one-off.

 

Con: [00:10:11] It definitely doesn't stop. I mean, for the person that was with you from day one and that is are doing your workouts and probably your best customer because they love you so much and they follow it every day. They don't want to keep doing the same one over and over and over again. Like at the end of the day, if they get to three months then you're out of content. Theoretically, you're just going to run out of users so you have to keep producing and for fitness, fitness never stops.

 

Kareena: [00:10:32] So that's the content side of things.

 

Kareena: [00:10:36] Tech-Talk. The development of the app. This is a world of its own and for any influencer with a desire to launch their own platform. It's imperative that you become familiar with the technical and business aspects to help avoid huge pitfalls that will cost you thousands.

 

Kareena: [00:10:52] Moving on to the technology side now which is the actual distribution. I mean, now you've got the content. How are you going to get it to people? On the app side of things which is always a fun topic to discuss. Because there's a lot in that as well.

 

Con: [00:11:05] There is, there's heaps in that. I think the first question people always ask us is like well, why an app? Like, why don't you just go to a website? And at the end of the day, you just got to think, you have to go to a business where your customers are. If your customers are searching on a desktop then that's where you should distribute to. But at the end of the day, if you're searching for, you know, young whether it is males or females these days, people under the age of 40 are primarily on their smartphone. So, if they're on their smartphone, you've got to distribute on the smartphone. It's just intuitive. As the years progress, more and more people are going to be using their smartphones and less and less people will be using their desktop.

 

Kareena: [00:11:43] Yes, so apps are another one of those things depending on what you want using it in varying levels of costs or quotes to develop what you want.

 

Con: [00:11:53] Extremely varying levels.

 

Kareena: [00:11:55] Extremely varied. And that depends, you can give the same brief to 20 development companies and get 20 different answers. So, like a lot of that comes in really understanding and doing homework around what it is that you want.

 

Con: [00:12:09] I think also to, like, in terms of what you want and what you actually need, there's a lot of development agencies that will kind of take a step back and it will give them a brief in terms of what you want. They'll say "Awesome!" and they will just go and build it. Where there's other development companies that have realised that it's not just building the app, it's building a business around the app. Then you have other companies that teach you the business side of things of the app. But obviously, there's costs involved in that too. There's a few different factors.

 

Kareena: [00:12:36] Yeah. So, my first step would be research. Understanding what's in the market and understanding what you want on need to develop because you can always add things later. But to get, just off the ground, you want to have the basics of what you want in your app.

 

Con: [00:12:53] The bare bones. I mean, what they call it in the app world, a Minimum Viable Product. What's the minimum amount of features you need so your users can experience what you want them? I mean, in a fitness app, the main thing that they want to experience is working out with you. That's the only thing you have to develop first.

 

Kareena: [00:13:10] So, understanding that and going to market a lot of companies as you said, will like to work with you to create a business around your app.

 

Con: [00:13:17] Yeah, a lot of them offer. What would you call it?

 

Kareena: [00:13:22] A workshop.

 

Con: [00:13:23] Yeah. A workshop.

 

Kareena: [00:13:25] A lot of them offer a workshop.

 

Con: [00:13:26] Yeah, a business workshop. They run through your idea and how to formulate a business. And then a few varying things that go into an app. An apps funnel is five different things. It starts with acquisition. Where your customers and how are you going to attract them? Now, for most Instagram Influencers, you already have that. You already have a channel, you already have Instagram and you to have that platform with an audience. So that's, most of the time it's done for you. From there, it goes into activation. How are you users going to enjoy that first experience? And how can you get them there as quickly as possible? So, from downloading your app, how quickly can you get them to have the first workout with you? After that it goes into retention. Once they've had their first workout, you don't want that to be the only work out. You want them to keep coming back and working out more and more. So, what sort of things can you implement in your app that keep them coming back? Is intrinsic things? Like things that stem out of your, yourself.

 

Kareena: [00:14:17] And make you feel good.

 

Con: [00:14:17] That make you feel good, that make you want to exercise. Or is it external things? Is it "Oh no!" My friends, like 10 of my friends worked out today and I've had my workout." Maybe you don't want to be that person. So, there are different sort of things that you can implement in an app that makes you want to work out. From there, it goes into revenue. Making the money. Once they've kept coming back and have tried your workouts you want them to subscribe. And once they've subscribed and they're having a good time you want them to tell your friends, so referral. So, usually these workshops go through those five steps.

 

Kareena: [00:14:48] Which is great for someone who, I feel, has had an idea. Yeah. And really wants that support and that feedback from someone who has a bit more experience in that space yeah.

 

Con: [00:14:57] Yeah, basically how do you get from idea to market in a nice and succinct and profitable way.

 

Kareena: [00:15:01] Yeah. So, those workshops do exist and they do cost a fair bit. But generally, you can get a good idea out of what you want to achieve and they help you create a prototype which is basically, a fake app. [laughs] How else do you describe it in layman's terms?

 

Con: [00:15:18] It's not on the App Store but it functions, like, you click buttons it'll lead you to, like, if it's an interactive prototype. It'll have the aesthetic and some sort of functionality, looking like a real app, not actually on the app stores. You can't download it. And the behind-the-scenes of the app doesn't work.

 

Kareena: [00:15:36] Exactly. So yeah.... it’s a fake app. [laughs] It helps you get an idea of how you want it to work. And if ever needed to show people and get some feedback, it's always a nice way to go about it.

 

Kareena: [00:15:50] Creating an app is a step into the tech sphere. So, we break down the process for getting your app up and running and just how to keep those costs weight down.

 

Kareena: [00:16:00] So after you get that staged, then there's varying stages of the actual development. So obviously, designing is a huge part.

 

Con: [00:16:08] Most of the agencies will do that for you. Obviously, if you haven't designed an app before, there's quite like a scientific method behind how to design an app.

 

Kareena: [00:16:17] They're specialists in that. Design principles, color principles, you know, color behavior. How people respond to certain things, position of things like buttons and text and all that fun stuff. They know that stuff and they do that really well. So, they look after that, yeah, the design of the actual app. Then they move in to...

 

Con: [00:16:37] Development. Once All the designs have been approved and like, the wireframes a what all the screens are going to look like. Then it gets put to the engineers and they write the code.

 

Kareena: [00:16:46] And then they're testing...

 

Con: [00:16:48] Yeah once all that's done, then it goes into testing. Make sure when you put it out onto the app store you're going to crash straight away. Everyone's best or worst nightmare.

 

Kareena: [00:16:57] That would be so disappointing.

 

Con: [00:16:59] At least it got used a lot. I guess, people had a bad experience. So, it goes into Quality Assurance at the end. Then once that's all done, it goes live.

 

Kareena: [00:17:07] They're the main stages in the actual app tech development side. And the part that you would definitely need someone with that skill set to help you with it.

 

Con: [00:17:17] If you're not an engineer, I don't think, it's not really possible to learn it overnight and do a DIY approach, type of thing. That takes years honing your skills and it's super complicated and there's a lot of different things. That, I guess, you have to, you have to outsource.

 

Kareena: [00:17:31] Again. Back to the cost. So, we've cost for content. We've got costs for the app. Now cost of development, again, depending on what it is that you want. We're still looking at tens of thousands of dollars to start with.

 

Con: [00:17:45] Yeah, I think, tens of thousands of the minimum. You get quoted you know well into the six figures. Toby Pearce actually has a really interesting story that he put out a few months ago. And in the first version of their app, when it was getting developed. He said they spent half a million bucks on it and it didn't even get to a working version.

 

Kareena: [00:18:05] That is a lot of money, and for anyone who doesn't know, Toby Pearce, obviously, is behind Kayla Itsines app. SWEAT.

 

Con: [00:18:09] Yeah, the CEO of SWEAT.

 

Kareena: [00:18:13] So that is a lot of money not to have a working app. Half a million dollars! So, if you're looking at producing something at the level of Kayla Itsines, that's probably a good basis to go off. Which is a considerable investment.

 

Con: [00:18:27] Quite a lot. Yeah. Quite a lot for anyone.

 

Kareena: [00:18:28] Wow, Real talk about cost. That's up there. Which again explains why so many people don't have an app if they were in it for those that are venturing out there. You tend to see it with the top 1 percent of Fitness Influencers. The ones that have got such a following and have their various revenue streams and created their fitness empire to be able to support that kind of investment in a fitness app. You want to make sure you're getting the return at the end of the day. It's still a business.

 

Con: [00:18:57] Yeah and I think once you're investing that much in it. And even having that amount of capital to be able to design and develop it from the outset without earning a dollar, you need to have been doing something before.

 

Kareena: [00:19:08] Also, time-wise. Development can take a minimum of what we know, as four months.

 

Con: [00:19:14] Four months they say is a rough timeline. Then you've also got like, design as well, in there that usually adds to that timeline. So, people usually give rough estimates of about four to six months for the entire process. I've seen it as little as 3.

 

Kareena: [00:19:27] And that is for a Minimum Viable Product. We're not talking a large-scale app here, we're talking about an entry level app.

 

Con: [00:19:32] Correct.

 

Kareena: [00:19:32] Yeah so, understanding those timelines as well when you're looking at creating your own app and when you're wanting to go out to market, is really important.

 

Kareena: [00:19:42] So we've been building our own fitness up here at Loop App HQ and we wanted to share a few tips that we've learnt during our journey. Take a listen.

 

Kareena: [00:19:51] Have you got any advice, given the process that we've been through, some behind-the-scenes things and they should probably be aware of their development stage?

 

Con: [00:19:58] I think the most crucial thing to be aware of in the development stage, which a lot of people miss. As I said before, a lot of people when they have an idea for an app, think they've got it all figured out. Think it's, you know, it's a simple thing, they're going to make workouts, people are just going to download it and you know, people tend to follow it and keep coming back. Apps are actually one of the most fickle things in the world. Even from, they say they can be a drop off rate from downloading it just to creating your profile, of already 50 percent.

 

Kareena: [00:20:25] Wow, you've lost 50 percent of people before you've even gotten the details?

 

Con: [00:20:28] Before you've even got their details. People may downloaded and then, we just change our minds so quickly. Yeah, 50 percent of people just won't even create a profile. When you're designing an app and you have an idea of what you want out of the app, it's really important that from the app agency, they're not just going to take what you say and say "Okay, you know, you're right with all your assumptions," and go and develop it. If you've never done it before then everybody has mistakes. It's just part of doing something new, you're going to have mistakes in what you do. So, it's about finding that partner that's not only going to design and develop what you have but really work with you and flesh out everything in terms of all the business sort of things and even just challenging your assumptions that you make and really making sure that you're sound in your launch and creation of the app.

 

Kareena: [00:21:15] I would like to follow on from that. Obviously, finding a great agency or even person to partner with for the development is going to be hugely important but I don't think that people should rely on that person to bring all those skills to the table. I think the biggest thing that we've probably learned in this process is knowing how much we had to learn about the development side to be able to have those conversations because costs with these things can grow exponentially if you don't know what you're doing or what you're talking about. So, what do you think might be quite a simple thing or quite commonplace could take hours and hours of engineering. So, making sure that you do your own research in what you want to create at the end of the day and also some insight into what it takes to create what you want will help you have those conversations later. I mean this is your business. You want to be able to know everything.

 

Con: [00:22:09] Yeah, I think on the flip side as well, also just knowing what they're saying to you is actually the case. Whereas when you go to a software developer, just don't take everything they say for granted. Like, if they're telling you they're going to be doing something a certain way, maybe just jot it down, Google it, make sure that you know that is the latest technology or that is the latest trend or that is the best way to do something. Making sure that they're up to date and they actually know what they're doing. I mean, so often though they might do, you know, all these tech talking and kind of just bamboozle you and you'll think you're going the right way and...

 

Kareena: [00:22:38] So many tech terms! [laughs]

 

Con: [00:22:40] Yeah, and they'll just start throwing them around and they'll just confuse you. And you'll go "This person really knows what they're doing." But they could just be using, you know, really old technologies and really old ways, and so they're going to hurt you.

 

Kareena: [00:22:48] And you don't want to look like an idiot. But at the same time, you have no idea what is going on. So many times, did we go into a meeting just listening to these technical terms, and you know, nodding and smiling. And then Googling it after and going "Ahh! Now I know what that means." And to be honest, that probably saved us so much because technology like any industry has evolved over time and there are people that do utilize older methods and other people that are leveraging new technologies. So, understanding what the landscape is actually like, you position yourself to better create a great product by knowing that stuff. So, do your research.

 

Kareena: [00:23:32] The last stage is marketing. And while we could discuss this for hours on end, we wanted to leave you with some final thoughts and insights into how you can create an amazing fitness app of your own.

 

Kareena: [00:23:42] Okay, so we've covered the basics of what it means to create a fitness app from production through to technology. Obviously, marketing is a huge part of it and that's the third part where people need to be able to find your app, use your app and get that out there. So, that's almost a whole other topic that we'll probably save for another time. But on the development side, what else have you learnt in this process in developing a fitness app that you think will be useful for people that are looking to try it on their own?

 

Con: [00:24:10] Yeah, I think another thing that's really crucial that people often overlook is actually having a community side of the app. So, knowing that, you know, there are real people that are working out, that are using your app and especially if you're doing, for instance, a home and fitness app where people are going through these journeys and it's quite an isolated journey. They're not at a gym. They're not really part of an active community. They're doing it at home. Probably by themselves. So just having an outlet for them to, you know, connect with other people other. Other like-minded people that are going through the same journey, that they are going through the same program and even support when they need it in case they're having trouble with anything. Or even if they just want to chit chat. You know, even if they've just finished a workout. They're feeling good and they just want to be able to connect with other people. So, having a community side of things that people can actually just interact with one another. I think that will greatly increase retention and increase the chance that they'd use your app.

 

Kareena: [00:25:02] On my end, I'm going to just go super practical here, and be like, look at the numbers. Something that we've obviously discovered a lot in our research is retention figures, distribution, audience, demographics. All these numbers come into play and will contribute to whether your app is successful. So, no one wants to go into this failing and I have no doubt that people have so many great ideas but there is a lot that goes into creating a fitness app that people aren't always aware of. And I think you really need to do your homework in terms of the figures and understand at what points it's going to cost you, what points are going to be actually generating a revenue and when it's going to get to the point where it's profitable because they are very distinctly different stages in the app development world. And just understanding that and having a really realistic view on that will help you a lot as well.

 

Con: [00:25:59] Yes exactly. And just, you know, even extending from that, even once you are profitable, at what point are you just going to be recovering the capital outlay? Like the huge amount that it costs just to get it started. So, I mean once you've done all that, then you see when you're actually making money and it's returning more than you put in. It's always an interesting figure.

 

Kareena: [00:26:17] It is. And again, I think that is why it seems to be only the top 1 percenters that are doing at the moment because that's the point where it generally becomes a worthwhile investment. Again, as you said, you already have the capital to invest and you probably have a bit more leeway in terms of the time to be able to recoup those funds. And you have the backing to create a profitable product, you have the audience, you have the market. All things to consider when creating a fitness app. So, we've covered the production side of things so the costs of doing itself versus outsourcing to the team. Even looking at something like what Loop App does in terms of collaboration. They're all options. Then you've got the technology side so creating the app, developing the app and that involves everything from design to technical development to testing and.

 

Con: [00:27:10] Deploying.

 

Kareena: [00:27:11] Deploying! Great technical term there! [laughs] So, getting it out. And then obviously, the marketing side of things. So, making sure that people are aware that you've got an app and getting it in people's mobiles and hands. That is, very broadly, encompassing what it is to create a fitness app. There are obviously lots of little tedious things that go into each part of it and I wish I could share the months and months that we've worked on it. But, it is one of those things that when you get into it, you didn't realize how much is involved until you start the process. So, hopefully, we've just been able to shed some light on what it is to start and hopefully, give you a good place to begin looking into it but it's always a very exciting journey. And I think you learn a lot from starting your own fitness app.

 

Con: [00:27:57] Most definitely. Do your research in terms of what you need to do and how it's going to pan out. Mostly, the numbers. Just what numbers do you need? And is this a viable business for you? Because, I mean, the stat is so high with so many businesses failing and I guess people go into it possibly unprepared. So as long as you're prepared and you do your research, you should have a leg up.

 

Kareena: [00:28:18] We wish you the best of luck with creating your fitness app if you have any questions, you're always welcome to reach out to us. We'd love to hear from you! But that brings us to the end of our episode of In the Loop and we'll be back next week with an exciting interview from another fitness influencer. Yeah, I'm not even going to tell you who. You will see it then so, if you liked this episode of In the Loop, let us know by leaving a review. We always love to hear your feedback. We'll be back chatting about the business end of being an influencer so thanks for joining us. We'll catch you then!