Use iPhone App Licensing to Supplement Your Income

Use iPhone App Licensing to Supplement Your Income

App development and licensing can be a great way to supplement your income or provide an extra stream of revenue to family.  This is a project that you can start on your own time, working at your own pace around another job or a busy family life.  If you’ve been looking for a way to pursue your entrepreneurial ambitions without putting everything at risk, starting a project like this one part time is a great choice.

 

One of the great things about app licensing is the flexibility it offers you.  If you work a full-time job, you can develop your pitch documents at night, work on graphics over the weekend, and contact potential licensees during your lunch break.  If you take care of children at home, you can follow the steps in between mealtimes and play dates. Any extra five minutes can be put toward developing your idea – or not, depending on how committed you are and what your ideal timeline is.

 

There is also almost no risk involved in starting a venture like this.  Your only costs will be your personal working time and anything that you outsource to other firms or consultants.  Even if you outsource everything having to do with the pitch document and patent registration, your total costs should not exceed $500.

 

Once the initial few months of work is over and you’ve partnered with a licensee company, you’ll hopefully be enjoying the benefits of a passive, steady income stream without any further work on your part.  Depending on your contract agreement, you may have a small role in future updates and changes, but in general, once the company has licensed your idea, your part of the work is done.

 

Since there is so little time and money involved and the process itself is so flexible, app licensing makes an excellent part-time project or ‘second job.’  Who knows?  You might just hit it big enough to actually quit your day job!

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