Mobile applications today are in a similar place to where websites were in the early days of the Internet. The big companies had websites, but the rest of the world had not bought into the idea of a website. Today, your company is not taken seriously unless you have a website. A business used to be cool if they had a website, now they are uncool if they don't have one.
If your business has a mobile application, and you include verbiage like "find us on the app store", or "there is an app for that" in your promotional material, you immediately set yourself apart from your competition. A mobile application will also increase traffic, attract new customers, and increase customer retention. In 2-3 years it will be necessary to have a mobile application to compete, so the time to act is NOW.