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
Partnerships
business model
E-Commerce
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
Partnerships
business model
E-Commerce
time investment
Side project
work from home?
Yes

Startup Costs

Min Startup Costs Max Startup Costs
Office Space Expenses $35 $3,250
Employee & Freelancer Expenses $0 $5,500
Equipment & Supply Expenses $525 $5,500
Website Costs $232 $6,500
Business Formation Fees $600 $4,700
App Creation Costs $1,099 $20,099
Software Expenses $150 $3,044
Advertising & Marketing Costs $0 $3,000
Other Expenses $0 $800
Total Startup Costs $2,641 $52,393

Successful Businesses

Business URL Rank
Clockify clockify.me #4,665
Automatic Business Time-Tracking Software desktime.com #28,928
LightningMaps.org lightningmaps.org #38,748
Gridwise gridwise.io #191,477
TIMEFLIP timeflip.io #1,713,782
Trakref® trakref.com #2,456,165
Zoom Radar zoomradar.com #2,468,368
Labor Sync laborsync.com #2,687,714
Klokki klokki.com #2,812,504
Ludi, Inc. ludiinc.com #3,841,804

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

    An affiliate program is a way to reward people outside your organization to share your product.

  • 2

    Word of mouth

    The most tried and true way to grow a time tracking app is through word of mouth - some entrepreneurs would say it's more important than all social media.

  • 3

    Advertising on social media

    Social media advertising is one of the leading ways to get the word out when it comes to time tracking app.

    There are various different Social Media platforms available to you. Some may be more critical for your marketing efforts than others, however, it's important to have an understanding of what's out there and available to you.

    Learn more about advertising on social media ➜