Once you buy a photo booth, market the business and start getting rental business, how do you grow your business to maximize the money you can make? I always tell my clients who are looking for a photo booth for ale, that they should start with one booth, build that business, then the next step is to buy a second booth to really maximize their profit potential.
With one photo booth you can really run a successful photo booth rental business as a part time business. Running it part time my clients can make 20-30 thousand dollars a year in a medium sized market. What you will find, however, is that most events happen on the same day of the week. Saturday. If you specialize in weddings, you will be turning down a photo booth event for every one you book on a busy summer Saturday. Once you see that you are turning down business it may be time to make the leap to running the photo booth as a full time rental business.
- Build your business till you are tuning down multiple booth rentals per month because you only have 1 booth.
- Look at buying another booth, either the same kind, or a new kind. If you have an open air booth consider an enclosed booth.
- start looking for help in running the booth, friends and family can help, even teenagers and young adults.
- Now that you can run multiple booths in one day you can do smaller events and parties and charge less for those because you have another booth that can do a full priced rental when they come along.
Step 4 above is the key to really expanding your business. When I first started out renting photo booths I almost never did discounted events because that would mean potentially missing out on a big event that might come around on the same day. Adding multiple booths greatly expanded the types of booths I was willing to do.
As an example, I now do as many school events every year as I do weddings. Schools rarely have the budget for full priced photo booths, so I offer a discount of up to 50%. This generous discount helps me book these booths instead of my competition that only have one booth and can't afford to rent to schools. What I found was that by renting to school events for a discounted rate, my booth was exposed to many more people, and parents of kids see the booth and then call me for their future personal and work related events.
This is why it is very important to have more than one photo booth if you are looking to really expand your business. You will book more discounted events and midweek events, as well as increase the number of people that go through the booth, which in turn leads to booking more full priced booths as well.
If you are ready to expand your photo booth rental business, give us a call and we can discuss the strategies for maximizing your money making potential.
Soren (503) 515-2880 Call or text for info