Have you ever come across videos of 360 photo booths on social media or experienced one at an event and thought to yourself, "I could make a lot of money with this"?
While that might be true, there are several crucial factors to consider before investing your hard-earned money in a 360 photo booth business.
In this article, I'll share seven key considerations that will help you better understand and plan for your venture.
1. Transportation Challenges
Let's start with the logistics of transporting your 360 photo booth to event venues. This may not sound like a big deal, but it's a critical aspect to address. Why? Because photo booths are typically larger and heavier than your car and may require special transport arrangements.
If your vehicle isn't spacious enough, you might need to consider purchasing a smaller photo booth that can fit in your car.
Otherwise, you could find yourself installing a trailer hitch on your car and renting a trailer for each event, adding to both the workload and costs.
Ensuring you have a plan for transporting your photo booth is essential to avoid unnecessary hassles and expenses.
Opting for a booth that fits your vehicle's size can make your business more flexible and efficient.
While the 360 photo booth business may seem exciting, don't forget that it involves a substantial amount of manual labor and preparation.
Before an event, you'll need to ensure all your batteries are charged, your event is set up in Touchpix (including overlays and music selections), and you've packed all your equipment into your vehicle.
On the event day, you'll unload and set up your equipment at the venue. Throughout the event, you'll be on your feet, interacting with guests.
After the event, you'll break down the setup, pack it back into your vehicle, and return home or to your equipment storage location.
It's a quite demanding job, but it's also fun and provides an opportunity to interact with a diverse range of people.
3. Potential for Equipment Damage
One factor to consider is the possibility of your 360 photo booth getting damaged during events.
Some guests may step off the platform before the arm stops spinning, which can lead to collisions and potential damage to the motor or other components.
While not every event will result in damage, the risk is there, and it's important to account for potential equipment wear and tear.
To mitigate the risk of damage, educating your customers about not leaving the platform before it stops spinning is crucial.
Additionally, conducting regular equipment checks and maintenance to keep it in optimal condition is a good practice.
4. Equipment Maintenance and Component Replacement
Related to potential damage is the need for equipment maintenance and component replacement.
360 photo booths have many moving parts that require regular maintenance to ensure they function properly.
This includes cleaning, lubricating, and replacing worn-out parts. While these maintenance tasks may require extra time and costs, they are essential to keep your equipment running smoothly.
Furthermore, if certain components of your equipment fail or get damaged, you may need to replace them promptly.
Some parts may naturally wear out over time, such as motors or sensors. Ensuring you can access the necessary spare parts and having a plan for replacements is crucial.
360 photo booth businesses may require additional insurance coverage to address potential risks and losses.
While not all event venues will demand insurance, some may require you to provide proof of coverage to protect them during events.
Even in the absence of mandatory requirements, obtaining insurance is a wise decision that provides extra security for your business.
Insurance costs can become another monthly expense for your business, so it's important to factor this in and determine an insurance policy that suits your needs.
6. Software Costs
360 photo booths typically require specialized software for control and photo/video generation.
One of the most popular software options is Touchpix, but its subscription costs can be substantial. Depending on your needs, Touchpix subscriptions can range from $50 per week, $140 per month, to $1,000 per year.
This is an indispensable expense as it's the core tool for operating your business, but you need to make smart choices regarding your subscription based on your business scale.
If you're just starting out, you can opt for weekly subscriptions and flexibly choose based on your event requirements.
As your business grows and you have more event bookings, consider longer-term subscription plans to save on costs.
7. Investment in Advertising
Lastly, consider that you may need to invest in advertising to secure bookings. While word-of-mouth and referrals are essential avenues for attracting clients, paid advertising remains an effective way to drive more business.
Through advertising, you can increase your business's visibility, attract more clients, and boost your booking numbers.
My personal experience has shown that advertising investment is key to gaining a significant number of bookings.
When I started advertising, my business grew rapidly, so don't underestimate this aspect. Of course, you can combine various marketing strategies, including social media presence, online marketing, and collaboration with related industries, to achieve optimal results.
Before diving into the 360 photo booth business, make sure you have a clear understanding of these key considerations.
From transportation and workload to equipment damage, maintenance, insurance, software costs, and advertising investment, these factors will impact the operation and profitability of your business.
While this industry offers opportunities and excitement, prudent planning and management are the keys to success.
By carefully considering these points, you can better prepare yourself and ensure the flourishing of your 360 photo booth business. Good luck!