An increasingly popular feature at wedding receptions, company parties, class reunions and birthday celebrations, photo booths are a growing sector in the event planning industry. These steps will help provide a template for getting starting in this surging novelty market:
1. Put together a business plan: Determine who will operate the photo booth business (you? you and a partner?), and write out why that person is the right person for the job. Ask what problem the business hopes to solve, how it will solve it, and who it will serve. Think about the capital and resource requirements need to get the business going, and look for the funding necessary to meet them.
2. Take a look around at the market: Will this be the first photo booth business in the area, or are there dozens of professional photographers offering a similar service? Gauge each potential competitor, and look for ways the new photo booth business can stand out in the crowd. Photo booths range widely in price depending on their features; be sure to know what the competitors have in their arsenal before putting down money on a booth.
3. Make the initial purchases: Choose a photo booth that fits the business plan, and take the leap. Additional start-up costs could include marketing materials, camera equipment, photo booth props, business cards, or liability insurance.
4. Get a marketing plan together: Establish a brand that works well for the target audience, and stick with it. Choose logos, make a basic website, setup email accounts, and start social media accounts before the business goes live. Start cultivating content on all those channels so potential customers will have something to base their decision on.
5. Know how the payment will work: Set up all bank accounts, payment methods and pricing structures needed for the first year of business. Customers will want to see that payment is going to a credible source, and business owners will want to avoid last-minute questions when it comes to money.
6. Put together a portfolio: Especially in markets that are already home to a photo booth business, new owners will need to demonstrate their work and have examples of their services. Considering offering up a free or heavily discounted photo booth rental to a friend’s wedding, community organization’s party, or local high school’s reunion. Gathering examples of the fun, high-quality shots this new photo booth business produces will be key to building a customer base.