Owning a photo booth business is as easy as 1-2-3 when you buy a HootBooth® photo booth! The industry is seeing more of a demand than ever for its products, which come in many different types and with various photography capabilities. If you want to start your own photo booth business, here are a few tips you should know. (Hint: check out our ROI Calculator to see how much you can make as a photo booth rental business owner!)
When building up your inventory of photo booth rentals, make sure to prioritize portability. You want to make the rental process as quick and convenient as you can for your clients, and a big part of that is making your photo booths easy to transport. There are a wide variety of models available, and some are certainly more portable than others. Make sure to do your homework before buying a number of photo booths and discovering how difficult it is to move them from event to event. (Hint: iPad-based photo photo booths are always lighter than DSLR-based photo booths.) iPad Photo Booths are great for people who don't want to learn camera settings and value portability above all else. DSLR photo booths are great for people who are more 'techie' and want the most advanced features such as augmented reality, photo printing, green screen removal and more.
Understanding your audience is also essential for any photo booth rental company. Specifically, it's important to understand which types of events can bring you the most income. Typically, experiential marketing events and weddings are two of the largest revenue sources. You can also choose to work primarily with one event type and purchase the types of photo booths that are in high-demand. Photo booths are becoming popular additions to events that involve food trucks, as well!
It can be hard to find financing for a new photo booth business / startup.
Banks often do not want to lend money to a brand new business venture so we've partnered with a great financing partner that has several lending programs for new businesses. Click here to fill out a finance application.
Finally, you want to make sure that you have the capital to invest in a DSLR and an iPad photo booth. Not only do many clients need more than one photo booth rental at a time, but the more booths you can invest in, the more you can rent out regularly, bringing you the maximum revenue possible. Don't buy more than you can afford, of course, but keep this in consideration: investing in many different types of photo booths including augmented reality photo booths, green screen photo booths and boomerang and animated GIF photo booths mean an increased overall earning potential.
Ultimately, owning a photo booth rental business starts with truly understanding your target audience and the types of events that are suitable for photo booth rentals. For more information about photo booth machines for sale, contact HootBooth®.