Business Idea

Start A Team Collaboration App

About

Starting a team collaboration app requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell team collaboration app, or selling team collaboration app online, you can use this page as a guide for everything you'll need to know.

Want to learn more? You can check out our full guide on how to start a team collaboration app ➜

Key stats

market size
$9.5B
revenue (monthly)
$1M
starting costs
$37.9K
gross margin
22%
avg product price
$5
time to build
12 months
growth
SEO
business model
Advertising
time investment
Side project

About

Starting a team collaboration app requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell team collaboration app, or selling team collaboration app online, you can use this page as a guide for everything you'll need to know.

Want to learn more? You can check out our full guide on how to start a team collaboration app ➜

Key stats

market size
$9.5B
revenue (monthly)
$1M
starting costs
$37.9K
gross margin
22%
avg product price
$5

 

time to build
12 months
growth
SEO
business model
Advertising
time investment
Side project

Startup Costs

Min Startup Costs Max Startup Costs
Office Space Expenses $750 $7,000
Employee & Freelancer Expenses $151 $352
Equipment & Supply Expenses $500 $5,000
Website Costs $303 $7,215
Business Formation Fees $5,600 $20,400
App Creation Costs $1,099 $20,099
Software Expenses $162 $3,094
Advertising & Marketing Costs $0 $3,500
Other Expenses $0 $800
Total Startup Costs $8,565 $67,460

Successful Businesses

Business URL Rank
Asana asana.com #1,207
Podio.com podio.com #2,729
Whimsical: Think Together whimsical.com #8,329
Ideal Modeling & Diagramming Tool for Agile Team Collaboration visual-paradigm.com #11,201
Ryver: Your Team Collaboration ryver.com #11,305
ProofHub proofhub.com #13,375
Quip quip.com #14,092
TeamGantt - Project Planning Tool teamgantt.com #19,502
HackMD hackmd.io #21,627
Lark larksuite.com #22,445
Infinity startinfinity.com #23,875

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!
Meaningful business connections You never know who you will meet as a team collaboration app. This could be the start of an incredible business opportunity!
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.
Gain exposure and experience This career allows you to gain experience working for multiple different businesses - which will benefit your resume and also keep things interesting for you!
Unlimited income potential With starting a team collaboration app there is no cap as to how much income you can make. The stronger your business skills and the more energy/time you put into your career, the more you'll make.
Cons Description
Motivation of employees If you plan to have a sales/content team on board, finding creative ways to motivate them can be a challenge. It's important that you're able to offer great incentives and a good work environment for your employees.
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.
Low margins The gross margins for your team collaboration app are typically around 22%, which can make it more challenging to incur new expenses and maintain profitability.
High employee turnover In the team collaboration app, employee turnover is often high, which can be quite costly and time consuming for your business. It's important to try and avoid this as much as possible by offering competitive pay, benefits, and a positive work environment.
Taxes As a team collaboration app, 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.
Time commitment With starting a team collaboration app, all responsibilities and decisions are in your hands. Although this is not necessarily a negative thing, work life can take over at times. This can place a strain on friends and family and add to the pressure of launching a new business.

Marketing Ideas

  • 1

    Affiliate program

    Affiliate marketing is a great way to bring in a new revenue stream, especially when you don't sell products or services.

    Simply put, an affiliate program is an agreement where a business pays another business or influencer ("the affiliate") a commission for sending traffic and/or sales their way.

    The affiliate typically gets a unique link where clicks and conversions can be tracked.

  • 2

    Word of mouth

    Word of mouth is when a consumers reflects their interest in a company’s product or service in their daily dialogues.

    Therefore, word of mouth advertising is essentially a free advertising triggered by the customers experience.

    According to Nielsen, 92% of people trust recommendations from friends and family.

    Therefore, in today’s hyper-connected world, a single recommendation through a word of mouth can have a huge impact to your business.

  • 3

    Social Media Advertising

    Social media advertising is the use of social media platforms to connect with your audience with the objective to build your brand, increase sales, and drive website traffic.

    According to Oberlo, approximately 48% of the global population use social media, and the number is ever-growing.

    Therefore, social media allows brands access to cost-effective advertising by enabling them to interact with a large audience.

    Learn more about social media advertising ➜