The digital age brought with it an influx of memory capturing devices – digital cameras – that manage to store precious events in a tiny handheld device. This grew into popularity, and in turn, has become a business of its own. Nowadays, there are popular photo booths services that pop up every where in the country.
Culturally, the Philippines has a lot of events that take place during the year: New Year’s Eve, weddings, christenings, birthday events, and other festive holidays that are a perfect opportunity to snap up a photo or two.
However, this can pose a problem for most people that are the actual managers of the event, when all you do is catering to everyone at the event all at once, you leave no time in documenting every moment. That is why photo booths are booming: they’re cheap, they relieve stress, and they provide a quality service.
There are many photobooth businesses that were once just a side gig that quickly turned into a profitable venture that covered all kinds of events up to the corporate world!
If you want to start a photobooth business in the Philippines, keep reading to know what you need before you begin your adventure!
Just like any kind of business, it all starts with a business plan that will act as a roadmap toward where your business will go, including the direction and opportunities that may present itself eventually. Business plans normally have a mission and vision, goals, and targets.
The target is an important factor in your business that you are able to benchmark with the progress you are making. The goals in the business are a formal statement of the business plan. They should cover the SMART acronym. The goals should be Specific, Measurable, Attainable, Relevant, and Timely.
By covering all the description of a SMART goal, you will not venture forth without any idea of where you are going. Business plans are also supposed to cover the target market, as well as the return of investment in a time span of 3 to 5 years.
Going serious with the business does not need to break the bank. Remember the story before? Well, it started out small, and with equipment that did not need to be heavy-duty.
The basic necessities of a photo booth business are a monitor, the computer itself, a software application (preferably Adobe Photoshop), lighting equipment, photo printing machine (commercial preferable), props (for specific events), and an internet connection (optional).
The props are useful for events that have a specific theme and while you aren’t paid by how many people take a photo, you might get a recommendation in the future by just how fun and convenient your service is. That goes for the internet connection as well!
Since we live in the era of Facebook and other social media, having the capability to upload photos immediately can give a big boost in the rating from your client.
A photo booth business does not necessarily stay in one place, as such you should only register your name and logo to the Department of Trade and Industry (DTI) if you plan to be a sole proprietorship. If you are a partnership or corporation, registration takes place at the Securities and Exchange Commission (SEC).
Since photo booths are popular, you may opt for an already existing business ( a franchise), however, this negates your ability to run the business the way you want and you might spend a lot of investment just from the royalty and franchise cost.
By doing your own photo booth business, you are able to quickly get your return of investment in a couple of bookings compared to a franchise business.
Other than the cost of purchasing the equipment, there are other expenses you have to take into consideration. These expenses include the employee salary (optional) and transportation cost. A basic setup of the photo booth business will cost around an average of P70,000 to P100,000.
If that is a lot, fret not, since an average booking will be around P5,000. Once your feet are wet, you will eventually be earning a lot of clients every month to cover all the expenses!
Social media is a perfect place for marketing your photo booth business. This is where all your clients should be present as well, as almost everyone has a social media profile. Not only that, it is an easy way to present the service itself and get into contact with your prospective customers.
The sites you use should show a portfolio of your photos so that your customers will have an idea of what it would look like should they ever inquire of your service!
Photo credit: Cydcor of Flickr
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