Is it time for a new income stream? Here’s why a photo booth business makes financial sense at the start and moves into the future.
Event marketing shows no signs of slowing down or becoming less relevant to businesses. A study showed that this industry isn’t showing signs of shrinking; quite the opposite, in fact. The size of the event marketing industry in the US is slightly under $3.2 billion as of 2022.
In 2025, the event and exhibition market size is projected to swell to $50 billion as we tap into new technologies and geographical markets.
That’s where the industry is heading, but now let’s talk about at profitability and features of a photo booth business.
Where’s The Profit in a Photo Booth Business?
You can buy a photo booth for parties, corporate functions, weddings, sports events, and other celebrations. One of the best things is a photo booth attracts people and needs no explanation.
Some products need high-pressure sales tactics that can strain the relationship between customers and business owners, but not photo booths. Enhancing events and giving clients valuable ways to promote their brand doesn’t require a pushy approach. You’re offering something your clients can profit from rather than an optional extra that doesn’t.
A photo booth business’s average revenue is between $75,000 – $90,000. That revenue comes from short and long-term rentals, so businesses usually purchase more than one photo booth before long. As a result, multiple photo booths can provide a much greater return on investment (ROI).
A photo booth business can rent their units for anywhere between $250-$400 per hour. Most events are multiple hours long, especially weddings and corporate functions. That rate depends on the local area and several other factors. Decide what rate to bill your clients and consider flexible rates for longer rental periods.
Modern Photo Booths Have These Features
Each of the photo booth packages gives eventgoers many things that their smartphones can’t. So here are a few reasons they’ll flock to the photo booth and put those devices away.
Skin Smooth Filters (in color or black & white). Most people apply some sort of filter to their photos these days, but they’ll be impressed that the photo booth includes this feature. You can make sure everyone’s looking fantastic and flawless with no additional software or hassles.
Create Animated GIFs: Smartphones can’t create GIFs easily without downloading apps and fiddling around, but these photo booths can. So bring some motion and life into event photos with custom GIFs.
Mirrored Photo Booth Faces: This optional extra gives guests a way to pose and snap photos in front of the mirrored face of a photo booth.
Perfect Prints: In under 8 seconds, guests can get 2×6 or 6×8 images printed on glossy photo paper.
Green Screens and Backdrops: Clients can choose a custom photo booth backdrop if their location needs a better background. There are 13 different backdrops to choose from, including a green screen backdrop. The backdrop frame size is 8’x8’.
Tips For Running A Thriving Photo Booth Business
Besides the profit a photo booth business can generate, here are a few ways to maximize the earning potential.
Choose a Clever Marketing Strategy: Focus on a specific location first before considering expansion. Become familiar with the area you want to market in and identify the events that benefit from photo booths. Market smart instead of marketing everywhere.
Choose the Right Photo Booth Package: There are several packages, some with mirrored faces and other optional extras. Chat with our experienced staff to choose the right option.
Adjust Your Pricing to Be Competitive: Combine a targeted marketing strategy with attractive pricing. Find out similar companies’ rates and decide on your photo booth pricing.
Customer Service Will Make Your Business Stand Out: Retain your customers and build long-lasting loyalty by being there to answer their questions and solve problems. Anyone can rent photo booths, but you can stand out by having exceptional customer service.
Starting a new venture is exciting, but new photo booth business owners always have questions. SelfieBooth’s dedicated team is standing by for a no-obligation discussion to clear up any concerns you might have. They’ve helped thousands of entrepreneurs start successful businesses and are here to show you how they’ve done it.
