Image source: http://clickthirst.com/wp-content/uploads/2016/02/corporate-photo-booth-rental.jpg
Photo booths are very popular and they are set up in most of the parties and events including weddings, festivals and even corporate events. With Photo Booths, it is now possible for you to ditch the normal office or retail job and make incredible money doing something that is fun and which requires less than $10,000 in most cases to start your own business!
Owning a Photo Booth Rental is a great choice for a new entrepreneur because the business model is simple. It is a simple process, buy a Photo Booth Rental promote services on social media and through wedding industry events. Many people are able to start this business as a side hustle, so its not a risky task that requires quitting your job or taking out a large business loan.
The basics to start a photo booth rental business can be divided into four parts:
The hardware and software you need to buy:
The booth itself Purchase a booth that can be quickly assembled and disassembled for convenience and ease of storing and transporting.
Camera - While choosing a camera for your photo booth use one with video capability. You need not choose an expensive camera, but a middle range DSLR will work for your booth during the initial set up.
Camera AC adapter Using an AC Adapter, plug the camera directly into an outlet so you dont have to worry about the batteries running out in the middle of an event.
Laptop A basic laptop with good capacity hard drive would be enough during the initial stage of your business and later on you can invest in buying an upgraded model.
Printer - Pictures are immediately printed with the printer and your guests can carry the memories along with them.
Targeting the customer through advertisement:
Letting the customer know you have a photo booth can be accomplished through a website and any social media platform. You can post the pictures of your Photo Booth Rental so that the client knows what it will look like. Put up all the information on your site for people to get in touch with you if they want to book it for an event. The best way to get a constant torrent of business is to network with a corporate event and wedding planners in your area.
Insurance:
Some venues will require you to have insurance, and its simply a good thing. This helps reduce your liability in case someone gets hurt in your booth.
Legal structure for your business:
There are options while starting a photo booth business as to how you can structure it which includes:
Sole Proprietorship- This is the most common for small start-up photo booth operators and you can register the business name at your local government office.
Partnership- In this type of business, you can have two or more partners who will contribute equally to the outcome.
Limited liability company- If you ever run into legal issues, your personal assets are less at risk and this is a great way to shield your business troubles.
Photo booth rental pricing:
It is a good idea to be priced competitively, but undercutting pricing is not the best business plan for a long and sustainable business because there are costs which should be outlined in your business plan.
So there you have it! A rough sketch of considerations while starting your own photo booth business, along with the equipment, software, and a proper plan.
