If you’re reading this, you are likely interested in learning how to turn your interest in portable photo booths and photography into a source of income for yourself. Some people might believe that public demand for their photo booth rental services will essentially generate itself once people know about them, but it isn’t that simple.
Although you’ll probably find that guests at events such as weddings and parties will welcome the addition of a photo booth, you do need to make sure your audiences find you first, and that might take a bit of work. On top of that, remember that you need to profit enough from your business to make a living. Breaking even on your startup costs alone can be difficult.
To give you an idea of what to expect upon entering the photo booth industry, we’re going to break down some financials you should keep in mind. With some investments, hard work, and good fortune, you can make your startup photo booth rental enterprise a booming business.
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Start Smart
The first thing you’ll need to do, of course, is to buy a photo booth. You can get a respectable iPad-equipped photo booth from a company such as HootBooth for about $2,600, but the higher-end booths can cost upwards of $8,000. Other initial expenses may include a travel case for your booth, laptop, printer, paper, and ink. All those miscellaneous items together can cost you another $1,000 or more, depending on the brands you get. You won’t need a super high-end laptop with a lot of memory to edit your photos, so don’t overspend on that.
Now, let’s talk about how to start making all those initial investments back and then start profiting.
Championing Yourself
Existing professional photographers will likely find it easier to incorporate their new photo booth services into their existing marketing. But what about those who are just breaking into the photography/photo booth business? The key here at the outset will be self-promotion.
You should definitely get yourself an SEO-optimized website, start advertising on social media, and add your enterprise to Google My Business. Most people who want to hire a photo booth rental business are going to find you online, so you should spend your advertising money wisely. Try to target people and organizations that would be most likely to desire your services. These include engaged couples, wedding planners, event coordinators, conference centers, and marketing firms.
Setting Rates
Setting your fees per photo booth rental is obviously vital to the success of your business. Without getting too nitty gritty on the financial details, we’ve seen most photo booth renters charging something like $500 to $600 per rental. However, you will want to look hard at all the services you’ll be offering when determining your rates. Allowing customers unlimited prints of the photos they take, for instance, demands a fair additional cost that is sure to cover your expenses of providing all the necessary print paper and ink. Also remember the little incidental costs such as driving to your events. All that gas money adds up fast! Be sure to factor this into your prices.
If your rates are fair and you have the winning personality that is probably required to be in this business, you may find yourself working several events per month to start. As you build your reputation in your geographical area, your popularity will increase, and you might be working weddings every weekend and various other events during the week. This just all depends on how unique your services are and how effectively you market your business.
However, imagine the scenario in which you work several times a week, at about $600 per event. That could be anywhere from $1,800 to $2,400 per week or more in gross earnings. This isn’t a bad deal for being your own boss!
Don’t be afraid to get out there and buy a photo booth if that’s truly what you want to do. It takes hard work, but it’s a lucrative business if you can get it just right. You can buy a range of DSLR or iPad photo booths from a company such as HootBooth. Browse around their site to see all their booth options. And remember to have fun with it!
