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Are you passionate about photography and good at taking pictures? If you are, you can turn your passion into a highly profitable business by investing in photo booths. A large number of photographers are doing exactly this and boosting their income.
What is a Photo Booth Franchise?
From event entertainment to professional sporting events, photographers have always been in demand. During the pandemic, business suffered as the world shut down. But in the post-Covid era, demand for professional photographers has started picking pace again. Today, photographers are paid handsomely to cover everything from corporate events to weddings.
Photo booth franchises have sprung up all over the country. These follow the same business model as any other franchise. As a franchise owner, you receive support from an established brand. While staying true to the values of the franchisor, you have an opportunity to build and grow your business.
- READ MORE: See our Franchise Guide
The Photo Booth Rentals Industry in 2022
So why are so many businesses entering the photo booth rentals industry? Statistics show the photo booth market will hit $719.91 million by 2030. It’s not surprising though when you consider the growing popularity of photo booths for holiday parties and other social events. On social media, photo booth pictures are an instant hit, propelling this industry to success. In the near future, more and more brands will leverage photo marketing kiosks to grow their business.
Why You Should Consider a Photo Booth Franchise
From a profitability perspective, photo booths present a host of business opportunities. Let’s look at some of the benefits of starting a photo booth franchise.
- Flexibility: The best thing about owning a photo booth franchise is that you are your own boss and you can choose your own hours. In other words, you can be flexible in your schedule.
- High profitability: With the world opening up after the pandemic and social events gaining momentum again, you have the perfect opportunity to boost your income.
- Easier setup: Unlike many related industries, these booths do not require high skills. You don’t need extensive training and time to prepare to start this business.
- Easier marketing communications for promotion: A major factor influencing the success or failure of a business is its ability to promote itself. In the photo booth business, positive word of mouth can help you gain business easily.
- Potential for more: As a thriving industry, photo booth rentals are expected to go from strength to strength. This is important and beneficial for your future business growth.
Top Photo Booth Franchise Opportunities
As you enter the world of photo booths, you may want to learn the ropes first before diving in completely. Most business owners have a similar strategy. That’s why a number of entrepreneurs prefer going the franchise route while exploring this business opportunity. It helps them manage their operations while creating a roadmap for scaling them in the future.
Let’s take a closer look at some of the photo booth franchise options.
1. Tapsnap Franchise
TapSnap is ideal when you are looking to set up a photo booth business as your side hustle. It lets you choose your own work hours and allows you to learn the ropes before you are confident enough to get going.
TapSnap brings two business opportunities together. On one hand, it offers a social media photo booth for social events such as weddings, holiday parties, and bar mitzvahs. On the other hand, it offers a photo marketing kiosk for all kinds of corporate events.
To start, you need to invest a little under $30,000. It is worth noting that TapSnap provides in-house financing and allows for low monthly payments. At present, the company has about 100 franchises listed in the United States.
2. Smybox
Smybox has been in business for more than 11 years now. The company provides a straightforward range of solutions to create unique photo marketing experiences. It offers a compact, fully functional machine that comes equipped with all the features needed to make events memorable.
It also offers a franchise package to help entrepreneurs get started. In this package, you will find a lookbook to take to potential customers. It also includes a brochure that can be left behind after meetings and other goodies such as a badge, T-shirts, business cards and more.
In addition to all the practical tools on offer, Smybox provides extensive training to help new business owners learn the ropes of the trade.
It’s important to point out that Smybox is based out of the Czech Republic and offers its services to only a couple of European countries.
3. The Traveling Photo Booth
The Traveling Photo Booth targets all kinds of events: social, corporate, nonprofit and more. The company offers custom-built photo booths and photo stands along with comprehensive digital image technology.
From a cost perspective, its franchise fees go up to $19,000. The total investment range in the initial phase is anywhere between $33,000 and $56,000. At present, the company has franchise locations in 11 states.
4. Photobomb
Photobomb offers a range of packages including spin booths, photography, photo booths and video for various events. It is the first company to provide 360-degree spin booths in the Oklahoma and Texas area. Today, the company has locations in six cities.
The franchise model is fairly straightforward. Photobomb offers training, website and brand page, marketing, and bookings, among others. The franchisees on their part hire people, scale the business opportunity and create passive income.
5. Flash Party Photo Booth
Texas-based Flash Party Photo Booth offers both photo booths and DJ services.
The photo booth package includes a hi-tech booth, an expert booth operator, props, digital photos and backdrops. What’s also worth mentioning is the different types of booths on offer. These include Astro, Prime, Cloee, 360-degree, and Oval Mirror booths.
How to Choose the Best Franchise to Set Up Your Photo Booth Business
The success of your photo booth business depends largely on the franchisor you partner with. That’s because the right franchisor helps you leverage opportunities and gain new business. This is especially important because it’s a highly competitive space. While there are many events such as trade shows and weddings that require photo booths, you will find yourself competing against other businesses.
Let’s look at some of the things you should consider when choosing the best franchise for your business.
Experience
As a new entrant, you will fall back on your partner for expertise and industry knowledge. This is where an experienced partner plays a critical role. You must look for a franchisor who has been in the business for long enough to help you navigate through the various aspects of running a successful photo booth business.
Services
Most franchisors will help with training and coaching. Some would even help with digital marketing and other services that can help you boost business. That’s why you should try and find out the level of services you can expect from your partner.
Equipment
To run a successful photo booth business, you need to have access to top-notch equipment. Whether it’s for event entertainment or for the more practical part of the business, you should check the kind of equipment the franchise has on offer.
Cost
As a small business owner, you work on a shoestring budget. This makes it more important for you to consider the amount of money you need to spend to get started in this business. In the initial phase, it’s best to start small before you can scale up your business. So look for a franchise that can work with your budget.
What Is the Photo Booth Expo?
It is a leading event for aspiring entrepreneurs and other third parties in the photo booth business. An international event, it draws participants from more than 60 countries.
How Much Does It Cost to Open a Photo Booth Franchise?
Depending on the event type, a photo booth franchise may incur a total investment of $35,000-$55,000. This doesn’t include the initial liquid capital of $5,000-$10,000 needed to get started.
Are Photo Booth Franchises Profitable?
Thanks to the world opening up again in the post-pandemic period and the increasing number of events taking place, photo booth franchises have become more profitable than ever. But it’s a competitive business, so success depends on your ability to offer differentiated services.
Image: Envato Elements
This article, "5 Photo Booth Franchise Opportunities" was first published on Small Business Trends
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By: Shubhomita Bose
Title: 5 Photo Booth Franchise Opportunities
Sourced From: smallbiztrends.com/2022/12/photo-booth-franchise-opportunities.html
Published Date: Mon, 05 Dec 2022 17:00:08 +0000
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