The Superwall Podcast · 2026-07-22
Steve Young - Beginners Guide to Buying & Selling Apps 2026
Steve Young (App Masters) explains his ASO-first approach to buying and building apps: find low-competition keywords (~30+ search volume, top competitors with few reviews and no keyword in title), name the app after the keyword, then monetize with a hard paywall. Case studies: a 2022 acquisition taken from $1-2K to $8-10K/month with a hard paywall and $60/year price (trial starts 6% -> 13%), a client app named after a keyword that hit #1 in week one, and a recent ~$500K/year acquisition. Also covers loan-financed acquisitions, Meta economics ($3 RPI floor) and traffic-source-based paywalls.
Play the episode15 tactics
Numbers mentioned
| Who | Metric | Value | Context | When |
|---|---|---|---|---|
| Steve Young's recent acquisition (health & fitness app, ~$500K/year) | revenue | USD 1M approximate | lifetime revenue, over $1M | 8:37 |
| Steve Young's recent acquisition (health & fitness app, ~$500K/year) | revenue | USD 500K/year approximate | last year; mostly App Store Search, some Apple Ads | 8:37 |
| Steve Young's recent acquisition (health & fitness app, ~$500K/year) | ad spend | USD 10K/month approximate | Apple Ads last month; being lowered to ~$5K this month | 9:17 |
| Steve Young's recent acquisition (health & fitness app, ~$500K/year) | ad spend | USD 5,000/month approximate | Apple Ads current month after scaling down | 9:17 |
| Steve Young's recent acquisition (health & fitness app, ~$500K/year) | arpu | USD 3per install approximate | revenue per install (RPI) | 17:07 |
| Steve Young's recent acquisition (health & fitness app, ~$500K/year) | count | 24 keywords | keyword variants containing the main term with search volume >= 24 that the app can still target | 47:05 |
| Older health & fitness app doing $6M/year mostly from App Store Search | revenue | USD 6M/year approximate | last year; primarily organic App Store Search, hard paywall | 8:37 |
| Older health & fitness app doing $6M/year mostly from App Store Search | revenue | USD 4M/year approximate | portion attributed to App Store Search | 8:37 |
| App Steve Young bought in 2022 ranking #1 for two ~30-volume keywords | downloads | 100–150 downloads/day approximate | organic, from ranking #1 for two ~30-volume keywords; unchanged after monetization changes | 17:49 |
| App Steve Young bought in 2022 ranking #1 for two ~30-volume keywords | count | 28–34 search volume approximate | search volume of the two keywords the app ranked #1 for | 17:49 |
| App Steve Young bought in 2022 ranking #1 for two ~30-volume keywords | price | USD 2–3/one-time approximate | price before acquisition; no onboarding paywall | 17:49 |
| App Steve Young bought in 2022 ranking #1 for two ~30-volume keywords | price | USD 60/year | new annual price behind hard paywall | 18:27 |
| App Steve Young bought in 2022 ranking #1 for two ~30-volume keywords | revenue | USD 1,000–2,000/month approximate | before hard paywall and price increase | 19:33 |
| App Steve Young bought in 2022 ranking #1 for two ~30-volume keywords | revenue | USD 8,000–10K/month approximate | after hard paywall, onboarding and $60/year price; same downloads | 18:27 |
| App Steve Young bought in 2022 ranking #1 for two ~30-volume keywords | conversion rate | 6% | trial start rate with a closable (X) paywall | 20:05 |
| App Steve Young bought in 2022 ranking #1 for two ~30-volume keywords | conversion rate | 13% | trial start rate with hard paywall (no X); trial-to-paid unchanged | 20:05 |
| App Masters client doing ~$1M ARR at $60/year | arr | USD 1M approximate | app only; client also had a larger web product | 18:27 |
| App Masters client doing ~$1M ARR at $60/year | price | USD 60/year | 18:27 | |
| App Masters client app named after a low-competition keyword | time to milestone | 1 weeks approximate | time to rank #1 for the keyword the app was named after | 15:56 |
| App Masters client app named after a low-competition keyword | revenue | USD 1,600/month | first month after launch (also described as first 21 days), no free trial | 15:56 |
| App Masters client app named after a low-competition keyword | downloads | 100 downloads/day approximate | right after launch, from ranking #1 | 24:00 |
| App Masters client app named after a low-competition keyword | mrr | USD 12K–15K approximate | reached with ASO only, a couple of keywords | 15:56 |
| App Masters client app named after a low-competition keyword | mrr | USD 20K approximate | a few years after launch; now adding other channels | 15:56 |
| Migraine Buddy | revenue | USD 50K/month approximate | 11:34 | |
| Migraine Buddy | revenue | USD 70K/month estimate | iOS, per Sensor Tower, from ~30K downloads | 12:58 |
| Migraine Buddy | downloads | 30K downloads/month estimate | iOS, per Sensor Tower | 12:58 |
| Green Noise App | rank | 3 rank | search rank for 'green noise' (was #1 for a while) | 21:09 |
| Steve Young's organic app doing ~$3K/month | revenue | USD 3,000/month approximate | all organic | 33:50 |
| Steve Young's organic app doing ~$3K/month | arpu | USD 1per install approximate | revenue per install on Meta traffic | 33:50 |
| App Steve Young bought for $18,000 that flopped | exit price | USD 18K/one-time | price App Masters paid; the app flopped | 41:46 |
| Indie App Santa | payback period | 3–4 months approximate | time to earn back the acquisition price | 41:09 |
| benchmarkMinimum revenue per install before running Meta ads | arpu | USD 3per install estimate | RPI floor to consider Meta | 17:07 |
| benchmarkMaximum cost per trial to consider Meta ads when optimizing for trials | cpa | USD 10–15 estimate | cost per trial | 33:50 |
| benchmarkTarget install-to-trial-start rate for a new app | conversion rate | 5–10% estimate | install -> trial start | 29:53 |
| benchmarkIndustry-average trial-to-paid rate; below it signals a product problem | conversion rate | 30–40% estimate | trial -> paid | 29:53 |
| benchmarkMinimum keyword search volume (ASO tool score) worth targeting | count | 30 search volume estimate | two ~30-volume keywords at #1 ~= 100-150 downloads/day | 15:14 |
| benchmarkBeatable keyword: #2-#3 ranked apps have only ~100+ reviews and few apps use the keyword in their title | count | 100 reviews estimate | 12:11 | |
| aggregateConsumer app founders Steve talks to who share big MRR publicly | roas | 0.9–1 x estimate | many are at 90-100% ROAS, i.e. roughly break-even | 16:40 |
| aggregateSteve's apps and clients plus founders he knows | mrr | USD 5M estimate | reachable with only one or two channels (mostly ASO, Apple Ads, Meta) | 6:00 |
| benchmarkIllustrative loan-financed acquisition: $10K/month profit app bought for $350K with a 10-year loan | exit price | USD 350K/one-time illustrative | 42:55 | |
| benchmarkIllustrative loan-financed acquisition: app profit | profit | USD 10K/month illustrative | 42:55 | |
| benchmarkIllustrative loan-financed acquisition: 10-year loan repayment | debt | USD 5,000/month illustrative | monthly loan payment on a 10-year loan; leaves ~$5K/month profit, cash back in ~3 years | 43:25 |