Start A Time Tracking App - Business Ideas
Please note that the data provided in this article are estimates and may vary depending on various factors, and should not be considered as perfect or definitive.
A time tracking app is a tool used allows its user to clock in/out via an internet-connected device or to use a stopwatch to record the start and end of tasks. The time tracker apps also have analytics and reporting features that consolidate the data so that users can gain insights into time spent on different tasks, projects, and clients.
The growing need among managers and enterprises to improve employee productivity and adopt a remote work culture contribute to the high demand for time-tracking apps.
Therefore, if you are looking for the best App-based business, you may consider developing a time tracker application. Here is a high-level overview of some steps to get you started working on your business idea of the time tracker App
- Define the project scope
- Choose a software development methodology
- Formulate the approach for your development project
- Create a project team
- Develop the project plan with timelines
- Test the prototypes
- Find suitable API solutions
- Publish the Apps
Starting a time tracking app requires a great deal of effort, dedication, and most importantly passion.
If you're interested in how to sell time tracking app, or selling time tracking app online, you can use this page as a guide for everything you'll need to know.
Key Stats
Startup Costs
| Min Startup Costs | Max Startup Costs | |
|---|---|---|
|
Office Space Expenses |
$0 |
$7,000 |
|
Employee & Freelancer Expenses |
$151 |
$352 |
|
Website Costs |
$223 |
$7,215 |
|
Business Formation Fees |
$600 |
$4,700 |
|
Equipment & Supply Expenses |
$63 |
$200 |
|
App Creation Costs |
$1,099 |
$20,099 |
|
Software Expenses |
$162 |
$3,094 |
|
Advertising & Marketing Costs |
$0 |
$3,000 |
|
Total Startup Costs |
$2,298 |
$45,660 |
Case Studies
•
$185K/mo
•
$500K/mo
•
$350/mo
•
$850/mo
Successful Businesses
| Business | URL | Rank | |
|---|---|---|---|
|
|
Toggl: Time Tracking, Project Planning and Hiring Tools |
toggl.com |
2,619 |
|
|
Clockify |
clockify.me |
4,665 |
|
|
Worldtime Buddy |
worldtimebuddy.com |
8,020 |
|
|
ProofHub |
proofhub.com |
13,375 |
|
|
RescueTime: Automatic Time-Tracking Software |
rescuetime.com |
18,188 |
|
|
OnTheClock |
ontheclock.com |
21,270 |
|
|
Time Doctor |
timedoctor.com |
21,784 |
|
|
TimeCamp - Time Tracking Software |
timecamp.com |
23,755 |
|
|
Hubstaff |
hubstaff.com |
25,972 |
|
|
WebWork Tracker |
webwork-tracker.com |
28,018 |
|
|
Automatic Business Time-Tracking Software |
desktime.com |
28,928 |
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 time tracking app 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. |
|
Traffic to your website |
A time tracking app gives people a reason to visit your website and to keep coming back to you! |
|
Meaningful business connections |
You never know who you will meet as a time tracking 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. |
| 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. |
|
Low margins |
The gross margins for your time tracking app are typically around 20%, which can make it more challenging to incur new expenses and maintain profitability. |
|
Stressful work |
This line of work can be stressful for both you and your clients. This type of transaction is a significant financial decision for your client, so expectations are very high for you. Although this career path can be very rewarding, it also comes with its challenges and stressful moments. |
|
Niche Market |
A niche business is not necessarily a bad thing, in fact, it can be the key to your success. However, it can be more challenging and time consuming to find the perfect niche market and target audience. |
|
Work can be repetitive |
You may find creating the same product over and over repetitive and tiresome. One way of avoiding this is to diversify product lines and revenue streams - this will keep things interesting! |
|
Churn |
In this business, customers can cancel their membership or subscription for your services - which can make revenue forecasting challenging and unpredictable. It's important to focus on your churn rates and trends so that you can prevent this as much as possible. |
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
Partnerships
A partnership is a formal agreement between two or more entities to oversee business operations and share profits and liabilities.
Creating strategic partnerships with an existing business can be a huge win for a startup.
This is considering that a partnership creates a new slate of future options for your startup.
On the other side, pursuit of partnerships could suck up a ton of time, and bunch of resources, and fail to materialize.
Therefore, entrepreneurs need to do proper research and evaluate the possibilities of achieving success through partnerships.
Hey! 👋 I'm Pat Walls, the founder of Starter Story.
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