Starting a Photo Booth BusinessWith the rise of social media, the humble photograph seems to dominate our lives. Every moment is captured for prosperity and the funnier, the better. It’s hardly any wonder that the photo booth industry has taken off.
In America the photo booth market is worth $70 million and the UK is hot on its coat tails. Research suggests the industry is likely to grow by 12% annually over the next five years.
Demand seems to be out running supply so this could be the perfect time to start your own business.
Most venues require visiting suppliers to have their own PLI cover in case of damage or injury to a member of the public.
It makes sense to cover yourself against potential claims from members of the public when operating your Photo Booth.
Having PLI will allow you access to more venues and show that you take your Photo Booth business seriously.
£10m Photo Booth Public Liability Insurance, as one of the FREE benefits provided with membership to AMPbooth, is a great deal.
Location – Market ResearchGoogle is your friend in this instance.
Do some searches of photo booth hire in your locality. Look at forums. Are potential clients struggling to book a booth for their event in your area? Do your competitors seem busy? Is your area screaming out for another supplier?
Is it right for you?
The nature of the work would never be a 9 to 5 prospect. You need to consider working most weekends and some evenings. On the other side of the coin, you would have flexibility with your time and manage your own life/work balance. You would need to ask yourself; Have you good communication skills and do you like being around people? Do you like attending parties? Would making people happy give you fulfilment?
The choice of photo booths on the market is expanding year on year. There is the traditional booth, either pop together with curtains or blow up variety.
Selfie stations comprise of a screen on a simple stand. This is ideal if space is at a premium. Mirror booths, although quite expensive, have the aesthetic and novelty appeal.
The latest to hit the market is the 360 booth stand where a camera rotates around the subjects and captures a short video.
In addition to the booth, you would need a good quality camera, printer and software. You will need to add lighting, props & backdrops too; it can make all the difference to the quality of the photographs.
PricingIn the first instance, be aware of what others charge around you. Try not to fall into the trap of thinking you have to be the cheapest. If you are offering a better service, you can adjust your price accordingly.
Also be conscious of ‘perceived value’. If you price yourself as the cheapest, you could be perceived as not so good as the more expensive options.
Be prepared for some props to go missing at each event and factor this into your pricing
UpsellingUpselling is a recognised way of increasing your revenue. There are a number of ways you can do this:
Your Target MarketWeddings and parties is the obvious answer but don’t dismiss the potential in the corporate market or charity events. In fact, any event, even a store opening, trade show, festival or sporting event has the potential of being a client.
The range of events is very wide so it may be prudent to target a particular group. That way you can hone your skills, marketing and sales pitch specifically for their needs.
Scaling Up The BusinessA photo booth business can be as large as your imagination.
It doesn’t rely on the skills of one person. Modern photo booths are easy to operate so intense training isn’t necessary.
You may start with one photo booth and just yourself, but in time you could purchase additional booths and employ extra operatives.
The opportunity to expand and diversify with different connotations of the humble booth is always there.
