Recently, more and more people are showing interest in starting their own business in the field of photo booth, photo mirror and 360 Selfie video platform rentals. The question these potential entrepreneurs ask us is whether the right time has passed or is it still appropriate to get involved in this constantly developing field.
The answer is that it is never too late, as long as you carry out a subjective analysis of the investment, the workload and the associated remuneration. To help you better understand this aspect, we will provide you with some additional ideas and information to guide you in making your decision.
Photo booth, photo mirror and 360 Selfie video platform rental services have experienced significant growth in recent years. Although some critics claim that rental prices have decreased, we could rather say that they have stabilized.
To better understand, we present a scenario based on numbers below:
In the 2021 season, on the Romanian market, the rental service with the 360 Selfie platform was almost non-existent, with a maximum of 10 platforms throughout the country, which made the rental price unjustifiably high at 700-900 euros/event, almost double the price of renting a photo booth. And in fact, the problem started here: why did this 360 selfie video platform rental service, which has a much lower purchase price than a photo booth, and for which there are no consumables, end up being rented twice as much?
As this service gained popularity, more platforms appeared on the market, and prices balanced out to some extent, reaching an average cost of 300-400 euros/event, which is considered a fair price.
To assess profitability, let’s examine a short table of expenses and receipts, from which you can draw your own conclusions:
INITIAL COST OF PURCHASE OF 360 SELFIE EQUIPMENT: 3,800 EURO, composed of:
Analyzing the figures above, it results that you need to have approximately 15 events to recover your initial investment.
ATTENTION! In this scenario, payments to the state were not taken into account, as they depend on the type of legal entity you have. This calculation is based on the situation when you operate the platform yourself, not if you have an operator whom you pay additionally.
It is worth starting this business if:
You are ready to actively engage in launching and developing the business, work and dedicate yourself to customers: constantly inform them, educate them about the dangers of a lower price, make offers and learn to promote yourself. The time when it was enough to post an ad on the OLX platform and get contracts without active involvement is over.
You are willing to sacrifice your weekends for work, because this type of business takes place mainly on weekends. It will not be easy to be at work while your friends send you photos from parties and events.
You are aware that this business will not make you rich overnight, but with work and discipline, it can bring you a substantial income. Although, if you dedicate yourself 100%, you can develop the business and make a living exclusively from this field, as some of our clients have managed to do, who now own 2-3 photo booths.
You are ready to learn how to operate the equipment and get closer to some basic notions in the technical and photo-video field (how to create an “overlay”, how to configure a camera, how to use software).
In conclusion, we emphasize that only those who are ready to achieve the above objectives are worth getting involved in this type of business. If this is the direction you want to go, we recommend reading the book written by our colleague Mac, entitled “How to Become the First Choice of Brides and Grooms”, which you can order from the following link https://weddingmastery.members-only.online/carte
PS: If you order the book first and then purchase the equipment from us, we will deduct the value of the book from the price of the equipment, since you have already paid for the book in advance.
