Business Idea

Start A Cloud Based Attendance App Business

About

Starting a cloud-based attendance app business requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell cloud-based attendance app service, or selling cloud-based attendance app service online, you can use this page as a guide for everything you'll need to know.

Key stats

market size
$171B
starting costs
$23.3K
gross margin
83%
time to build
300 months

About

Starting a cloud-based attendance app business requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell cloud-based attendance app service, or selling cloud-based attendance app service online, you can use this page as a guide for everything you'll need to know.

Key stats

market size
$171B
starting costs
$23.3K

 

gross margin
83%
time to build
300 months

Startup Costs

Min Startup Costs Max Startup Costs
Office Space Expenses $0 $7,000
App Creation Costs $1,099 $20,099
Training & Education Expenses $0 $1,000
Software Expenses $162 $2,894
Advertising & Marketing Costs $0 $7,500
Website Costs $13 $215
Total Startup Costs $1,274 $38,708

Successful Businesses

Business URL Rank
Chatwork chatwork.com #1,558
greythr greythr.com #5,176
Screen Recording Software for Mac & PC getcloudapp.com #5,374
Quickbase quickbase.com #6,271
Symfony, High Performance PHP Framework for Web Development symfony.com #12,745
MapmyIndia mapmyindia.com #27,626
Employment Hero employmenthero.com #39,411
FactoHR factohr.com #52,630
PointClickCare pointclickcare.com #69,402
Resourceinn resourceinn.com #71,271
Apps Run The World appsruntheworld.com #77,538

Pros & Cons

Pros Description
Flexibility You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.
Ability to start your business from home It's not necessary to have a physical storefront or office space to get your business started. You can do everything from the comfort of your own home, at least in the beginning!
Rewarding work Starting a cloud-based attendance app business can be really rewarding work. After all, you are solving an immediate issue for your customer and you're working on something you truly care about.
Scalable With businesses and processes changing daily, there will always be demand for new features, products and services for your business. Additionally, there are several different business models and pricing tiers you can implement that will allow you to reach all types of customers.
No overhead costs To get your cloud-based attendance app business started, there are no costs associated with overhead, storage, packaging, etc. This will save you a lot of time and money!
High customer retention rates Once a customer invests in your product, they've invested their time and energy to utilize your product/service which is highly valuable to them. Typically, your product or service becomes indispensable to your customer.
Cons Description
Crowded Space Competition is high when it comes to your cloud-based attendance app business, so it's important that you spend a good amount of time analyzing the market and understanding where the demand lies.
Security Issues With any Saas business, data loss and security issues may arise throughout your process of building your product. It's critical that you understand exactly what you're responsible for and how to avoid potential issues down the road.
Lack of benefits With a cloud-based attendance app business, you are typically self-employed and responsible for finding your own insurance, which can be quite costly and time-consuming.
Isolation Often times, as a cloud-based attendance app business, you typically work alone and do not have much face-to-face interaction with other team members.
Taxes As a cloud-based attendance app business, you typically pay self-employment taxes which can be quite high. It's important to understand what you will be paying in taxes each year so you can determine if the work you're taking on is worth it.
No safety net Typically, as a cloud-based attendance app business, you do not receive a consistent pay-check and instead earn money based on your transactions each month. During the slow periods, you typically take away less since the job is based on commission. It's important to budget accordingly for the slow times.