Event organizing comes with a huge responsibility. Every part of the gathering should be well-thought-out to ensure not only the enjoyment but also the convenience and safety of the attendees. Aside from having an impressive venue, the food and drink selections should also be excellent. That’s why it’s a must to come up with ideas on how to keep your guests engaged. You wouldn’t want your party to be labeled as boring, right?
What about if you’re organizing a corporate event? You might even want to hire a company that specializes in video production for conferences, conventions and events to capture the entire meeting.
One way to excite event attendees is to set up a photo booth. Almost everyone loves taking pictures. One study shows that Americans take an average of 21 pictures while they are in a live gathering and post them on their social media accounts. This just shows how vital photographs are in an event.
Taking selfies or groupies from smartphones is now considered ordinary. Partygoers expect something more, hence, the purpose of a photo booth. But with the fast-paced world we live in, a traditional photo booth won’t simply do the trick. One of the best innovations today is a 360 photo booth video kiosk.
360 Photo Booth: What Is It All About?
Imagine being in a star-studded event, walking on the red carpet, and being photographed by several photographers and paparazzi. We may not be able to fully understand how that feels but we can still get an almost similar experience. How? Through a 360 photo booth.
A 360 photo booth is not like any ordinary photo booth. First off, it comes with a platform wherein the guests will stand while they strike a pose. The platform can fit up to two to three persons but this still depends on the platform size. There is a monopod-like pole attached to the platform that holds the camera. By powering the control system, the camera then rotates and captures the subject from every angle. This virtual video booth can produce a styled video highlighting the guests’ looks and amusement.
Investing in the Photo Booth Industry
If you’re clueless about what kind of business to start with, you may want to consider photo booths. After all, photo booth rentals are now in demand, may it be for personal or commercial purposes. The market size is reported to be valued at USD 400 million in 2020. It is also projected to have a 16% compound annual growth rate (CAGR) from 2021 to 2027. Here are some reasons that might convince you to venture into this type of business:
Setup and Maintenance Costs
You can start a photo booth business even with just a limited budget. The necessities you will need are a camera, computer, software application, printer, and lighting. If you’re handy and economical, a budget of at least $5,000 to $10,000 can get you even the most basic types of equipment and supplies. When you already have enough earnings, you can eventually invest in a 360 photo booth video system to attract more clients. Furthermore, you need to take into consideration maintenance costs such as business licenses, marketing, travel expenses to and from an event, consumables, and other miscellaneous fees.
Limited Work
You don’t need to quit your full-time job just to have your photo booth business running. This is because most events happen on a weekend when most employees are having their days off. If you currently have a day job, just accept services during your rest day from work. This way, you’ll be able to keep both sources of income and earn more!
Lots of Target Market
Photo booth rental caters to both ordinary and business event organizers. We usually see photo booths on birthdays, weddings, or baby showers. But they can also be set up as a part of networking events, trade shows, product launches, and more. If the organizer wants to document the event, most likely they will have a photo booth set up to fulfill this purpose.
Profitability
A photo booth business can be profitable. In the U.S.A., the average cost to hire a photo booth for an event ranges between $200 to $400 (per session). But this depends on how you handle your operations. Of course, businesses with daily bookings earn more than those that only accept weekend bookings. The usual scenario of a photo booth business is having people set up, manage, and take down a photo booth in an event. But you can also earn through rental profits. For instance, if you offer a 360 photo booth for rent, you can simply drop it off at your client’s venue then just pick it up after the agreed rental hours. This is without you or your team assisting them with photo booth operations.
Steps in Starting a Photo Booth Business
Image link: https://pixabay.com/photos/camera-canon-5d-mark-ii-bokeh-4219677/
Alt-text: Close-up shot of a camera with some lighting equipment in the background
These simple tips will help you start your photo booth business.
Have a Business Plan
First, create a layout on what your business’s goals and targets are. This is to establish how your business will move forward. You may also want to have a vision and mission statement, not just to remind yourself of your business plans, but also to let potential clients know how your business can help them.
Choose the Right Equipment
Even if you’re just starting with a limited budget, choosing the right equipment to purchase will go a long way. You wouldn’t want your equipment giving up on you in the middle of the event. If you have the extra budget, offer a full-pack experience to your clients by investing in a 360 booth. Your future clients will surely thank you for allowing their guests to create video using 360 degree photo booth in their event.
Obtain Permits and Licenses
One important part of your photo booth business that you shouldn’t miss is getting all the necessary permits and licenses. Each state also has unique corresponding licensing requirements so you better check what your state requires. Failure to do so will just cost you a lot as you will be required to pay hefty fines. You won’t even have the authority to operate your business without such permits and licenses.
Advertise Your Business
Once you’re all set, it’s time to launch your business. Start by having a website and social media pages set up for your business. These pages should be optimized so your business will show up on the top suggestion list when people search for specific keywords like “360 video booth rental near me” and its related content. Another tip is to have a launch party to promote your photo booth business. This is the perfect venue to impress your potential clients and pitch your business to them.
In Summary
Photo booths continue to have a growing demand simply because of people’s passion for taking and keeping pictures. But since the world is constantly evolving, pictures aren’t enough anymore, that is why 360 booths are slowly taking the photo booth trade by storm. If you’re planning to venture into the photo booth industry or already managing a photo booth business, step up your game by offering a 360 photo booth video kiosk. You’ll surely have a stream of clients flowing in no time!
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