Should I get into the photo booth business?
Should I get into the photo booth business? Why not? Many people don't realized how easy it is to make money. You just need courage!
So, the biggest question is who should gt into the photobooth business?
Only you yourself can answer the question of whether you should be in the business. My hope is that this blog helps you make that decision, or to reinforce your decision if you are already in the business. Maybe a few of you will want to get out of the business, but I hope that number is somewhat small.
The main concern I have heard is the following:
Isn't The Photobooth Market Saturated?
Yes, it is certainly true that more and more people are getting into the photo booth business every day, and certainly with the publication of this blog there will be some more.
But that by no means is an indicator that you cannot be successful. We all have family that will support us in everything that we do and more than likely, your family will be there for your success. If anything it is an indicator of the health of the type of business. After all, we don't see many new people getting into the typewriter business, or the newspaper business. Even in a declining business such as the two I just listed there are some people getting into the photo booth business, and some of them will even succeed I am sure.
Of course the photobooth business is still growing, and probably will for some time before it is truly saturated. This is just the natural course of ANY, I repeat ANY BUSINESS. if you think the photobooth business is saturated, just look at the DJ business. There are DJ business starting every minute. Yet there are new DJ's entering the business every day, some of which will make it big. DJ Khaled did not get popular instantly or over night. I am sure he worked really hard and waited for his fan based to grow. It really is just a matter of time.
I was searching for a good way to explain exactly what I am explaining here when I came across a great quote from Melanie Duncan. Melanie is the successful owner of a number of online businesses, an online guru, inspirational speaker, educator, and the founder of the Entrepreneurs Academy. I subscribe to her newsletter at her website as I am a firm believer in education and learning all you can from others to better your own business.
One of the things she offers a course in is creating webinars. Here is the pitch for her product:
"Many people do not like to sell, but the problem is that if you're a sole proprietor you have to do it all - create, market, and sell - for your business to be a success.
Luckily, selling doesn't have to be some sleazy process where you lie and manipulate.
I've found the most effective way t sell is through providing incredible valuable content for my audience.
When you learn the right way to sell, not only will people love you for it, they will buy from you like crazy!
So what's the best way to provide amazing content? Webinars."
So the first thing you are thinking is what this could possibly have to do with photobooths, but you will understand the link in a paragraph or two.
As with photo booths, there are some who mistakenly feel that webinars have run their course and that there are too many already in the game. To quote Melanie again:
Now I know what you may be thinking:
"But Melanie, everyone is doing webinars now. They can't possibly be effective anymore."
Here's the truth...
You shouldn't do something because other people are already doing it. Chances are lots of people are doing it because it works. However, you do need to be able to stand out, which means you've got to know what you are doing, and do it well.
I read this and kept thinking to myself-there is No Way I could or can possibly say it better. What Melanie writes about webinars is also directly true with photobooths.
There are a lot of photobooth businesses out there because people love photo booths. Ten years ago they were almost unheard of at weddings. Now the have almost become a staple, a alternative form of entertainment for the guests. A couple of years from now they will be a staple.
If you are not offering a photobooth at a wedding, someone else will and that is just the way it is.
For inspiration, look to the story of 5 Guys Burgers. I am sure that in 1986, when the first store was opened, most people considered the fast food hamburger market was saturated? After all, who could compete with McDonald's, Wendy's and Burger King, not to mention Taco Bell, Subway, Pizza Hut and many many others.
What 5 Guys Burgers did was not rocket science. They simply started off with a principle that quality should never be sacrificed, not even in a fast food marketplace. The food was all fresh and juicy. They did to cut corners and definitely did not cut price. Even though they were the new guys, their prices were higher than the established leaders. So despite McDonald's, Wendy's and Burger King, all of which are still growing, they carved their niche. 625 stores later they are growing faster than ever. And many new companies are entering the gourmet hamburger marketplace every day, just as many people are entering the photo booth business every day.
Having said that, one thing I noticed at 5 Guys Burgers is that many times they will literally dump a ton of extra fries into the bag. I am not sure if this is a company-wide policy or if it is something they just do at my local store, but it all follows along with the "give them more than they expect" principle.
People know that they are paying a premium by going to 5 Guys, but by dumping in the extra fries they are definitely not going to leave hungry and are much more likely to accept the higher price and return.
So if you are thinking of starting your photo booth business, please consider EZ Photobooths in mind. After all, we have the lowest price in the market.