Building a software as a service (SaaS) product is one of the most lucrative startup ideas at the moment. SaaS products don’t require investments in hardware and are highly scalable. However, building good software around a useful idea isn’t cheap. Find out how much you’ll need to invest to enter the SaaS business
In April 2021, Gartner predicted that by the end of the year user spending on cloud-based products would rise by 23%, reaching $332.3 billion compared to $270 billion in 2020. Businesses are increasingly adopting cloud-based services, as they want to get high-quality tools without needing to invest thousands of dollars on custom development.
SaaS entrepreneurs, on the other hand, have the ability to scale their businesses and both return and increase their investments in software. With SaaS products, the limits are only in the market and your software’s technical capabilities.
With SaaS products, the limits are only in the market and your software’s technical capabilities
Though a SaaS business doesn’t need to invest in equipment, or products like many other businesses, developing a SaaS product is hardly cheap. However, there are ways to optimize your expenses without sacrificing quality, like building an MVP first and partnering with an outsourcing company.
Learn about the prices you can expect from outsourcing companies in Ukraine, as developing the same software in other countries like the US may be three to five times more expensive https://www.mobindustry.net/blog/how-much-does-it-cost-to-build-a-saas-product/