Business Idea

Start A Time Tracking App

About

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.

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

Key stats

market size
$425B
revenue (monthly)
$56.6K
starting costs
$27.5K
gross margin
20%
avg product price
$10
time to build
11 months
growth
SEO
business model
Subscriptions
time investment
Side project
work from home?
Yes

About

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.

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

Key stats

market size
$425B
revenue (monthly)
$56.6K
starting costs
$27.5K
gross margin
20%
avg product price
$10

 

time to build
11 months
growth
SEO
business model
Subscriptions
time investment
Side project
work from home?
Yes

Startup Costs

Min Startup Costs Max Startup Costs
Office Space Expenses $750 $7,000
Employee & Freelancer Expenses $151 $352
Equipment & Supply Expenses $563 $5,200
Website Costs $303 $7,215
Business Formation Fees $600 $4,700
App Creation Costs $1,099 $20,099
Software Expenses $162 $3,094
Advertising & Marketing Costs $0 $3,000
Other Expenses $0 $800
Total Startup Costs $3,628 $51,460

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
TimeCamp - Time Tracking Software timecamp.com #23,755
WebWork Tracker webwork-tracker.com #28,018
Automatic Business Time-Tracking Software desktime.com #28,928
Jibble - Time Clock App jibble.io #38,041
TimeStation mytimestation.com #45,804

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.