Partnership Wanted App

[Liveo]

Hi all,


I am looking to bring my business to life which is based on consumer spending, it is an app where we have currently spent 15k in R&D however require a partnership whom can help invest to bring to project to life, it is a live shopping app, we have our trademarks, we have our core business model ready but the app building is the part we are stuck at with some investment so looking to partner up, I believe the business model to be unique and that can revolutionise consumer spending.

Thanks
Serhat

 

[fisicx]

Do you need the partner to fund the app development or a partner to do the app development?

 

[Liveo]

Do you need the partner to fund the app development or a partner to do the app development?

I need a partner to do the app development

 

[Mark T Jones]

Anyone enveloping websites or apps will be bombarded with 'opportunities ' like this.

Have you done market research to demonstrate the business model works?

 

[fisicx]

I need a partner to do the app development

They will want paying. App developers don’t work for free.

 

[antropy]

require a partnership

No app developer is going to work on your idea for the promise of money if it's successful.

You need to find the money.

Paul.

 

[YasmeenLondon]

it is an app where we have currently spent 15k in R&D

What was the reasoning behind budgeting 0 for the design and development of the app but spending 15k on R&D?

As others have mentioned, no one will work for free and any future partner will need to see financial projections to determine if this project is worth their time, so, did you prepare any type of business plan or cashflow forecasts?

 

[NickGrogan]

What R & D did you do if you don't have an app?

 

[Porky]

Simple: Go and get quotes from two or three reputable App building firms so you know what you need to budget for the build costs, establish in your business plan what capital you need to launch this business to make it viable.

if you still want to run with it, go for it putting your own money behind it with co-investment via loans or equity if you need more.

As pointed out, nobody is going to partner to build this for free especially if you don’t have any “skin in the game” in the forward build and marketing plans, you are dreaming.

I’m not decrying the good work you may or may not have put into researching the market for this App but nobody knows how good that research is, how valid is it, you mention £15k spent to date on research but nobody knows if that was money well spent or not.

As pointed out by @Mark T Jones App developers get inundated with the next big idea every day, an idea is ONE thing but execution is EVERYTHING and actually building an app is normally the smaller cost element of the overall business plan typically the forward marketing costs for the route to market are the major cost consideration IMO.

You need proof of concept, prove the app works, prove the traction and take up rates from a lower base then look at raising capital to scale from there on proven values. Nobody is going to give you a chunk of change without that IMO.

I don’t want to appear that I’m peeing on your bonfire so to speak but I always think that it’s “better to be slapped in the face with the truth, than tickled with a lie” you have no chance of getting this idea airborne from where you are now without putting up your own seed capital to get your app built and at least proving some early traction with it and viability. That’s how I see it anyhow.

Good luck to you

 

[MikeJ]

Once you've raised the money to build the app, where are you going to find the money to market it? That's likely to dwarf the money for the app.

 

[Liveo]

No app developer is going to work on your idea for the promise of money if it's successful.

You need to find the money.

Paul.

I have already spent 15k on R&D it is someone who can actually develop and have the vision with myself to develop this app.

 

[Liveo]

What was the reasoning behind budgeting 0 for the design and development of the app but spending 15k on R&D?

As others have mentioned, no one will work for free and any future partner will need to see financial projections to determine if this project is worth their time, so, did you prepare any type of business plan or cashflow forecasts?

I have all of this

 

[Liveo]

Once you've raised the money to build the app, where are you going to find the money to market it? That's likely to dwarf the money for the app.

Once the app is running in beta I am pretty sure retailers will be jumping to be included

 

[Liveo]

Simple: Go and get quotes from two or three reputable App building firms so you know what you need to budget for the build costs, establish in your business plan what capital you need to launch this business to make it viable.

if you still want to run with it, go for it putting your own money behind it with co-investment via loans or equity if you need more.

As pointed out, nobody is going to partner to build this for free especially if you don’t have any “skin in the game” in the forward build and marketing plans, you are dreaming.

I’m not decrying the good work you may or may not have put into researching the market for this App but nobody knows how good that research is, how valid is it, you mention £15k spent to date on research but nobody knows if that was money well spent or not.

As pointed out by @Mark T Jones App developers get inundated with the next big idea every day, an idea is ONE thing but execution is EVERYTHING and actually building an app is normally the smaller cost element of the overall business plan typically the forward marketing costs for the route to market are the major cost consideration IMO.

You need proof of concept, prove the app works, prove the traction and take up rates from a lower base then look at raising capital to scale from there on proven values. Nobody is going to give you a chunk of change without that IMO.

I don’t want to appear that I’m peeing on your bonfire so to speak but I always think that it’s “better to be slapped in the face with the truth, than tickled with a lie” you have no chance of getting this idea airborne from where you are now without putting up your own seed capital to get your app built and at least proving some early traction with it and viability. That’s how I see it anyhow.

Good luck to you

Thanks for the message, I mean I have got quotes from firms however it all seems like everyone is interested in the money aspect of the app rather than building the app, the issue is here, firms whom have apps built have their own in house teams and are on payroll so the vision is in house, out sourcing a app form a firm they want x amount up front multiple meetings and your budget is gone then trying to make them understand your goal and so fourth don’t make any viable sense. I am no expert in app building but the right minded person can benefit from this project I have.

 

[fisicx]

They will benefit from the wages you pay them.

Once the app is running in beta I am pretty sure retailers will be jumping to be included

No they won’t. They are inundated with apps of all types all promising riches.

If you want your app to succeed you need to focus more on marketing than app building. Generate interest and maybe an investor will come forth.

 

[Mark T Jones]

I have already spent 15k on R&D it is someone who can actually develop and have the vision with myself to develop this app.

What you've spent is irrelevant. What is important is the results - In particular evidence that there is a clear, defined lucrative market

 

[antropy]

I have already spent 15k on R&D it is someone who can actually develop and have the vision with myself to develop this app.

Yeah I've been in this business nearly 15 years and this request comes up time and time again. You won't find a developer to do this, we require money not ideas.

Paul.

 

[Liveo]

Yeah I've been in this business nearly 15 years and this request comes up time and time again. You won't find a developer to do this, we require money not ideas.

Paul.

Every idea won’t work, however sometimes if you believe in the product and have a developer that believes in the product it can work, because the developers only concentrate on the pay check most ideas don’t work, I got a R&D done with a skeleton mock-up which cost me 15k, I mean how do I calculate the going forward fees when developing.

I do genuinely have a great product and can nearly guarantee it’s groupon but on steroids, I need a developer to commit so I know it’s worked on to the best of their ability so it works

 

[Liveo]

What you've spent is irrelevant. What is important is the results - In particular evidence that there is a clear, defined lucrative market

Your right but if a developer only is concentrated on the pay check then this don’t really show motive for it to work rather just pay me for my work I’m doing it works or doesn’t work don’t care

 

[Liveo]

They will benefit from the wages you pay them.


No they won’t. They are inundated with apps of all types all promising riches.

If you want your app to succeed you need to focus more on marketing than app building. Generate interest and maybe an investor will come forth.

Agree but when you have multiple businesses it is hard to do this.

 

[fisicx]

Agree but when you have multiple businesses it is hard to do this.

Not really. You pay people to manage your businesses.

Or sell your businesses to pay for your new idea.

 

[Liveo]

Not really. You pay people to manage your businesses.

Or sell your businesses to pay for your new idea.

yes need a PA maybe

 

[antropy]

I do genuinely have a great product and can nearly guarantee it’s groupon but on steroids,

I believe you think so. But, but what you understand is the idea is 1%, the implementation is 99%.

I need a developer to commit so I know it’s worked on to the best of their ability so it works

No, you need to find a good developer and pay them in money.

Paul.

 

[NickGrogan]

it’s groupon but on steroids

Market cap: Groupon's market cap has dropped 99.4% since its IPO.
Net income: Groupon's net income was negative $53 million in 2023.
Credit agreement: In February 2024, Groupon prepaid about $43.1 million to terminate its credit agreement with lenders.

Not sure that's a model you want to copy.

 

[Liveo]

Twitter was making nearly a million dollars in losses yet it sold for 44b to musk.

Firms make a loss to calculate what can be done with the user base before looking to make a profit.

I did say Groupon on steroids. Groupon has died out. Trend is shifting, shoppers are now more calculative and know deals are not really deals.

 

[fisicx]

Makes no difference. If you want a developer they will want paying.

Still can’t work out how you spent 15k and don’t have a MVP.

 

[Liveo]

Makes no difference. If you want a developer they will want paying.

Still can’t work out how you spent 15k and don’t have a MVP.

I have an investor deck if anyone is interested I can share.

 

[fisicx]

I have an investor deck if anyone is interested I can share.

Boring. Investors will want to see a MVP. After that comes all the numbers.

 

[Liveo]

Boring. Investors will want to see a MVP. After that comes all the numbers.

So any recommendations for a trustable firm?

 

[fisicx]

So any recommendations for a trustable firm?

Not really. You haven’t given any details about your idea so we have no idea what you need.

Why can’t you just use the company that did the R&D? Surely they are best placed to develop the MVP.

 

[NickGrogan]

Twitter was making nearly a million dollars in losses yet it sold for 44b to musk.

Firms make a loss to calculate what can be done with the user base before looking to make a profit.

I did say Groupon on steroids. Groupon has died out. Trend is shifting, shoppers are now more calculative and know deals are not really deals.

OK, so how much money do you have available to lose? You don't want to pay for the app - which is the cheapest part - and you plan depends on making a loss?

What exactly did you get for your £15k? perhaps you could share that?

 

[Mark T Jones]

Unfortunately your answers are actually taking you further away from getting investment

It's been said a million times on here - investors invest in people and businesses, not in ideas.

If you're serious about getting investment, you'll need:

- proper market research demonstrating serious interest
- cashflow projection showing how it will be monetised and what the costs will be
- MVP proving it actually works.
- an end game/exit strategy

Then you will have to demonstrate that you are the right person to to run/build the business on their behalf

 

[NickGrogan]

I have an investor deck if anyone is interested I can share.

You can DM to me if you want honest feedback.

 

[fisicx]

You can DM to me if you want honest feedback.

Same here. Happy to take a look.

 

[Sean Lee-Amies]

Thanks for the message, I mean I have got quotes from firms however it all seems like everyone is interested in the money aspect of the app rather than building the app, the issue is here, firms whom have apps built have their own in house teams and are on payroll so the vision is in house, out sourcing a app form a firm they want x amount up front multiple meetings and your budget is gone then trying to make them understand your goal and so fourth don’t make any viable sense. I am no expert in app building but the right minded person can benefit from this project I have.

I've worked - closely - with several investors and I can tell you that within five minutes they'd dismiss your pitch, no matter how good your deck is, because you're freely admitting to not having a clue how to overcome enormous challenges.

Developers are focused on the pay check because that's what they need in order to keep paying bills and meeting life expenses. There are literally millions of people with self-proclaimed great ideas, shooting themselves in the foot by offering sweat equity, mistakenly thinking it's the best way forward.

It rarely works out because if you hire a "doer" to build your app, they likely won't have the skills needed to contribute to your vision. They will wait for instructions and then execute them. This will eventually drive a wedge between most founders and they become a big problem that potentially owns 20-50% of the company - a total stranger that you've never worked with before, that you don't understand the first thing about the work they do so can't judge whether you're getting ripped off or not - or more importantly whether you're the problem, they are or both of you are.

I can tell you from experience - just watch Dragon's Den - that most investors see most founders (especially the first timers) as Del Boy's running around like headless chickens, not having a clue how to do anything properly because problem #1 is they don't listen to advice. They challenge everything. They ignore people who've been there done that.

And they always think that they're going to be the exception to the rule that 80+% of start-ups fail - citing 1 in a million unicorn stories to justify their opinions.

If you do the above things, you will alienate all investors, except the ones who are also first-timers and don't know what they're doing - who will likely become a major thorn in your side in the future.

I love what you're trying to achieve - and would hate for you to give up - but you should try to listen to the feedback this community is trying to give you and the dangers they're trying to protect you from