Are you thinking about starting a photo booth business? If the answer is yes, you’re in the right place. We have all the answers you need to start your photo booth business successfully.
The entertainment industry in Australia is stronger than ever and everyone is looking for new and improved ways to celebrate and entertain.
So, running a photo booth business can be a great opportunity for you to enhance peoples’ parties and celebrations.
Let’s see how you can start your new photo booth business right now.
Is a photo booth business a good idea?
This is probably the first question you have and, logically, we should start from there. As mentioned, the entertainment industry is constantly growing and expanding. And along with the industry, the interest in creating experiences and memories is also growing. That’s why starting a photo booth business is a good business idea.
It’s a business that can bring you income, and allow you to be your own boss.
Running a rental photo booth business is highly profitable with low operational and maintenance costs. It’s one of the most cost-effective businesses to launch, requiring minimal initial investment and offering flexibility in setting prices.
For instance, it can be a smart idea to start an outdoor photo booth hire in Sydney. Let’s see how you can do that in a couple of steps.
How to start a photo booth business?
Now that you know that a photo booth business is a good idea and it can be quite profitable, we can start talking about how to start your business.
Start with a photo booth business plan
Just like for any business, you should start your photo booth business by writing a business plan. This document will help you stay organized and on track with your business.
In the plan, you should include a detailed overview of the business concept, outlining the problem it addresses and your unique selling points compared to competitors. Specify what sort of booths you will use (e.g. an outdoor photo booth), and include all important details.
Then establish SMART goals (Specific, Measurable, Achievable, Realistic, Timely) for your business plan. Identify your target customer and what sort of events the booth will be used for. Don’t forget to include pricing details in the plan as well.
Determine all the business costs
You will need to have some capital to start your photo booth business. If you don’t already have some equipment, you will need at least a couple thousand dollars.
Determine all your business costs by categorizing costs as either one-time or recurring.
One-time costs will include all the equipment you need to run a successful photo booth business. So, a booth, cameras, monitors, printers, and props. You don’t need to buy everything at once. A second booth and a backup camera can come after you start earning some money.
Recurring or ongoing expenses include all the expenses you’ll have every or every second month. This means your salary, employee salary, taxes, transportation expenses, ink, paper, and so on.
Create a photo booth business name
Before you settle for one business name, make a list of several possibilities. You want to choose a memorable name, easy to understand and that’s not already taken.
Choosing the right name makes a world of difference. No one will confuse your business with another business, and you won’t lose sales.
Additionally, ensure that the corresponding web domain and social media usernames are accessible. Once you identify a name that meets all criteria, register the domain and establish your presence on social media platforms.
Buy equipment for your business
We’ve already mentioned some of the equipment you will need including a booth, camera, lighting, computer, photo booth software, and potentially a green screen. Additional items like a printer, paper, and ink may be required for creating customer keepsakes, although outsourcing printing through online services is also an option.
Certain photo booth businesses are discovering the value of data collected from attendees, sometimes outweighing the event fees they earn. In such cases, contact management software becomes essential.
Advertise your photo booth business
The final step in starting your photo booth business is an advertising campaign. Social media and SEO are some of the most popular advertising strategies these days.
Also, consider making a business profile on Google Business Profiles. This will allow people to find you faster and it will help your business start appearing in more local searches.
Word-of-mouth advertising is always a good thing so make sure your customers are satisfied with your services.
Bottom Line
Running a photo booth business can be very rewarding. If you start your business right, you can reap a lot of benefits in no time. Simply follow these couple of steps and start a successful photo booth business.
