Gone are the days of traditional fitness methods; today's generation demands innovative and technologically advanced solutions to stay fit and healthy. With the rise of fitness apps, it's no wonder that the market is projected to reach $64.8 billion by 2027, growing at a CAGR of 24.1% from 2022 to 2027 (Source: MarketsandMarkets). To capitalize on this trend, creating a fitness app like Neobank has become a lucrative opportunity for entrepreneurs and businesses alike.

The latest funding in the fitness app space has boosted our confidence in their success. For instance, UK-based Neobank Zopa raised $93M in its latest round and is now worth $1B+. The global neobanking market was valued at $66.82 billion in 2022 and is expected to grow 54.8% from 2023 to 2030 (Source: Grand View Research). Thus, now is the time to enter the neo-fitness sector and help your customers make better lifestyle decisions online to grow your business.

Cost of Developing a Fitness App

The price range for developing a fitness app like Neobank is between $40,000 and $250,000. The hourly rate of development features to be included in the app, technologies to be used, app UI/UX design, underlying app platform, and other factors all have an impact on the total cost of development.

Hiring a specialized fitness solutions development company can help you put things into perspective, even though several factors can affect your app development budget. Now, allow us to attempt to provide you with a precise app development cost estimate based on the selected company using our simple formula.

Factors Affecting Fitness App Development

It is essential to comprehend that the features and technologies that are going to be implemented will have a direct effect on how much it costs to construct a fitness app. Additionally, you can achieve maximum return on investment and increased market traction by working with a specialized app development team that has similar experience providing fitness app development services.

App Complexity

A FinTech mobile's development budget is largely determined by how complex it is. For instance, developing a fitness app with a long feature list and a lot of complexity will cost more than developing a fitness app with few features.

UI/UX Design

Developing a strong fitness app design requires you to implement a clear UI/UX strategy that can guarantee your company's success. Your mobile app will lead the way in technology and be successful if its sales design addresses user engagement and retention. To do this, the app wireframes must be validated against various testing methodologies, each of which has the potential to affect the fitness app development cost differently.

The following variables have an impact on the fitness app's UI/UX design cost:

  • Visual elements
  • Typography
  • Color psychology
  • Content writing
  • Button placements
  • Branding
  • UI optimization
  • Portrait or landscape mode

App Platform

The fitness app development pricing is also influenced by the underlying app platform. For example, the cost of developing apps for iOS and Android differs. Any requirements depend on several variables, including the deadline, testing, etc. It is advised to begin with a single platform to maximize your app development budget. You have the option to move to a cross-platform app once the app becomes popular.

Team Size

An important consideration when estimating the total cost of developing a fitness app is the size of the app development team. Although hiring independent contractors can save costs, the quality might suffer because of their inexperience. An alternative is to contract with a specialized app development company, which can maximize savings and benefit from years of experience.

Maintenance

One important component that significantly influences the total cost of establishing a fitness app is the upkeep of mobile apps. The costs associated with maintenance comprise those necessary to guarantee that the application is free of bugs as well as those associated with providing updates for the app or introducing new features in response to market demands. To guarantee that apps run smoothly across all platforms, offering a flawless user experience and guaranteeing the app's longevity, important steps must be taken.

Tech Stack

For your fitness app development to be successful overall, you need a strong tech stack. To help the app take off in the marketplace, the fitness app developers that were hired must incorporate cutting-edge technologies. The price of integrating various technologies varies, though.

Features

When estimating the cost to develop a fitness app, the feature list is essential. A very feature-rich, sophisticated app should ideally cost more. A clear feature set that differentiates the app from rivals is essential for market success. The app's feature set ought to be able to improve both the user experience and its functionality.

User-Centric Fitness App Features

Fitness apps are digital financial institutions that operate entirely online and are becoming more and more well-liked as a result of their useful and intuitive features. These are a few features of a fitness app that are focused on the user:

  • Biometric Protection

One of the biggest advantages of fitness apps is its advanced security measures. These apps employ biometric authentication, such as voice recognition, fingerprint scanning, or facial recognition, to guarantee that only the account owner has access to their account. This provides a higher level of security than traditional PINs, which are vulnerable to phishing and hacking attempts.

  • Multiple Payment Options

Customers of fitness apps have access to several payment methods, such as A2A, ACH, and P2P payments. It is simpler for consumers to send and receive money instantly when they are using a fitness app with multiple payment options.