Do you fancy yourself having a bit of financial savvy? If so, then you probably already have a good idea of the value of all kinds of typical investments. You know how to play the stock market. You know when to buy and how to lease out rental properties. You understand the inner dealings of foreign exchange.
But what you may not have considered to be a good investment before is a photo booth. But the truth is a photo booth business can be very lucrative with a great ROI.
We’ll look at how much does a photo booth cost and how to start a photo booth business in this article to educate you as to how you could realize some of the profits associated with this unique industry.
How Much Does a Photo Booth Cost?
Research shows that the average cost to purchase a photo booth is in the mid four figures range. That’s right, you can expect to pay upwards of $5,000 for a good photo booth that will get the job done.
Now this may seem like a significant expense — and you’re right. However, if you implement the photo booth business strategy properly, you could very easily more than recoup your investment in just a few months.
How to Make Money with a Photo Booth Business
Once you have the right photo booth bought and paid for, it’s time for you to start making money with this thing.
By far the best way to make money with your photo booth is to rent it out for major events. There are many different kinds of events that would love to have a photo booth at their party, but the one that takes the cake is weddings.
Couples love for their guests to have a way to remember and share memories from their special day. A photo booth does that for them, at the rate of a couple of hundred bucks per hour rented.
Another great way to make money with a photo booth is to put it in highly trafficked tourist areas. Tourists are always taking pictures. And with a photo booth, there’s an added romantic quality of a picture that many a trigger-happy photo-taking tourist will only be too happy to throw their money at.
See if you can rent space to put your photo booth at some of the tourist attractions in your city. Set up a system wherein photos are released for a small fee, like $5 or $10 for a short session. With the right location, you could easily be raking in a bunch of money in no time at all. And the only expenses involved are the rental of the space and any maintenance (if needed).
A Flourishing Photo Booth Business is Only a Few Steps Away
There you have it — with this guide on how much does a photo booth cost and how to make money with a photo booth business, you are well equipped to decide whether or not this business type should figure in your investment strategy.
For more business advice, check out the rest of the website!