1. If this is your first app, it may be wise to set a budget first and ask developers what they can do within that budget rather than presenting them with a concept and getting a quote
2. What parts of the iPhone will the app utilize? Will the app be static, rely on external information from the internet, utilize the internal gyrosope or 3D physics engine, or use the iPhone’s camera?
Odds are, the more of the phone’s capability you’re using the more it’s going to cost to develop
See a breakdown of app types and functions here
3. It’s probably going to take longer than projected to complete, especially if your developers are not in-house (working for the same company as you)
4. It’s probably going to cost at least $3000
See this summary of articles and reports that places the cost of the average app at $6453 (for a “small app”)
5. Calculate a realistic cost/ROI. See Aaron Maxwell’s breakdown for Mashable Business here
According to Maxwell, you can reach nearly five times as many people per dollar invested with a mobile website rather than an app.
6. To get an idea of what the market looks like, check out Distimo’s publications on the current state of things
7. What’s the most you could make?
According to an interpretation of Distimo data on Quora, about 80% of PAID applications have been downloaded less than 100 times
Next, see this article that finds iOS apps average about $600 in revenue
Finally, according to another Quora post, the top iPhone apps of all time have made over $10M with a number of others making over $1M
8. For more info on iPhone apps, check out http://www.quora.com/iPhone-