The verdict in three sentences
A vertical SaaS built with an agency costs EUR 40,000 to 70,000 for a V1 delivered in 4 months, then EUR 30,000 to 50,000 for a V2 that turns the product into a complete offer. With EUR 1,500 a month in running costs and a price of EUR 89 per agency per month, operational break-even arrives around 60 customers, reachable in 12 to 18 months for a founder who knows the trade. Innovation tax relief (the R&D scheme in the UK, the CII in France) can recover a meaningful share of eligible spend, provided the project is documented from day one.
What each version pays for
A former estate agency director knows the pain points of his profession: tracking listings, chasing landlords, viewing reports, reporting to the network. He wants to publish a SaaS with his own money. The classic trap is trying to ship everything in V1. Here is the split we recommend, as a 2026 order of magnitude.
| Item | V1 (4 months) | V2 (3 to 4 months) |
|---|---|---|
| Scoping, mock-ups and user tests | EUR 6,000 to 9,000 | EUR 3,000 to 5,000 |
| Multi-tenant core, accounts, roles | EUR 8,000 to 12,000 | Included |
| Core feature (listing tracking and follow-ups) | EUR 14,000 to 25,000 | EUR 6,000 to 10,000 of enrichment |
| Subscriptions and Stripe billing | EUR 3,000 to 5,000 | EUR 2,000 to 3,000 (plans, trials) |
| Property portal and calendar integrations | EUR 4,000 to 9,000 | EUR 8,000 to 14,000 |
| Mobile app or field PWA | Not in V1 | EUR 7,000 to 12,000 |
| Dashboard, network reporting | EUR 5,000 to 10,000 | EUR 4,000 to 6,000 |
| Total | EUR 40,000 to 70,000 | EUR 30,000 to 50,000 |
V1 must solve one problem better than every spreadsheet on the market, with working online billing from day one. V2 is funded by feedback from the first 20 to 40 paying agencies: it adds the integrations that make the tool indispensable and mobile use during viewings.
The business model up to break-even
The EUR 1,500 monthly run covers hosting, monitoring, email and support tools, plus a few hours of corrective maintenance. The table below shows the monthly result by number of agencies, with support and acquisition costs estimated at EUR 3,800 a month once the product is live.
| Customer agencies | Monthly revenue at EUR 89 | Monthly costs (run + support + acquisition) | Monthly result |
|---|---|---|---|
| 10 | EUR 890 | EUR 5,300 | -EUR 4,410 |
| 30 | EUR 2,670 | EUR 5,300 | -EUR 2,630 |
| 60 | EUR 5,340 | EUR 5,300 | +EUR 40 |
| 100 | EUR 8,900 | EUR 5,800 | +EUR 3,100 |
| 200 | EUR 17,800 | EUR 7,000 | +EUR 10,800 |
| 400 | EUR 35,600 | EUR 9,500 | +EUR 26,100 |
With thousands of independent and franchised agencies in Greater London alone and tens of thousands nationwide, 400 customers is a market share of around 1%. Churn is the variable to watch: above 3% a month, break-even slips by several months.
Innovation tax relief and code ownership
In France, the innovation tax credit (CII) covers 30% of eligible spend in 2026, capped at EUR 400,000 a year. In the UK, the merged R&D scheme offers comparable relief to companies resolving genuine technical uncertainty. Part of the agency's fees can qualify if spend is properly justified: specifications, review of existing solutions, time tracking. On a EUR 55,000 V1, the saving can reach EUR 10,000 to 16,000 depending on the eligible share.
Two clauses are non-negotiable in the agency contract: full assignment of code rights to the founder and reversibility, with the code pushed to your own Git repository from week one. Without them, your main asset does not truly belong to you.
Mini case study
James, a former agency director in London, funds a EUR 55,000 V1 and plans a EUR 40,000 V2 after nine months.
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Total investment: EUR 95,000. Estimated tax relief on the eligible share: EUR 13,000. Net investment: EUR 82,000.
With 60 agencies by month 14 and 150 by month 24, the monthly result moves from zero to about EUR 7,000. Cumulative losses until break-even, about EUR 45,000 of run, support and acquisition, come on top of the investment: James must plan close to EUR 127,000 of funding needs, which he can reduce by selling 30 annual pre-subscriptions at EUR 890 before launch, i.e. EUR 26,700 collected upfront.
FAQ
Why use an agency instead of hiring a CTO?
A senior CTO in London costs EUR 110,000 to 150,000 a year fully loaded, with no guarantee of shipping a V1 alone in four months. The agency brings a full team at a fixed price and lets you hire a CTO once 50 to 100 customers have validated the product.
Is EUR 89 a month the right price?
It is a common price for a niche business tool in 2026. Test it with 15 to 20 agencies before V1: if more than half accept a pre-subscription, the price point is credible.
How long does it take to sign 60 agencies?
For a founder from the trade with an active network, 10 to 18 months is a realistic order of magnitude, with 4 to 6 new customers a month after launch.
Is V2 mandatory?
It is not mandatory, but without integrations and mobile use churn often exceeds 4% a month. Fund it with revenue and early customer feedback rather than blindly.
Can we combine tax relief with grants?
Often yes: in France a Bpifrance French Tech grant of up to EUR 30,000 can stack with the CII under conditions, and in the UK Innovate UK grants interact with R&D relief rules. Prepare the file before V1 starts.
Let's scope your project. We scope your vertical SaaS from V1 (EUR 40,000 to 70,000 in 4 months) to V2, with a costed business model and a prepared tax relief file. Detailed quote within 48 h. WhatsApp +221 77 596 93 33.
Mohamed Bah
Fondateur, Kolonell
Passionate about digital and entrepreneurship in Africa, Mohamed has been helping Sénégalese businesses with their digital transformation since 2020. Founder of Kolonell, he believes every SME deserves a professional and accessible online présence.
