How and when are you going to recoup your investment?
Starting your own photo booth business can be both an exciting and scary experience.
While you are undoubtedly excited about the potential revenue that it can bring; it is also worth noting that the cost of your investment should also bring significant revenue to your business.
While the use of DSLR camera remains the more ubiquitous choice for the photo shoot business, there is no doubt that embarking on a business like this can be very expensive.
According to an online article, the standard photo business usually starts at $10,000 – this included the purchase of a DSLR camera, a light set-up, printer, cables, ribbon/paper, touchscreen LCDs and the computer set-up which will run the photo booth application.
This does not include the cost of maintenance, upgrade of cameras and even replenishment of supplies include ink and paper. The cost above only factors in equipment and supplies which you buy on your own.
For one, you can’t use just any standard DSLR camera for a photo booth business.
You need a camera that supports “live view mode” which enables the photo booth software to display on screen what’s being captured by the camera.
While many DSLR cameras support this, a common and standard camera for photo booth use is the Canon Rebel T5 along with an 18-55mm lens. While the T5 usually retails from $500 to $600, you’ll need at least two to start the business.
All these expenses do not include the cost of promotions and manpower, along with participation in trade fairs and events.
With all these things adding up, pushing you to spend close to tens of thousands of dollars – the important question now leads to,
“how and when are you going to recoup your investment?”
The problem with the photo booth business is the sheer number of competition, along with the fact that many consider photo booth rentals as a single transaction business, with a low probability of gaining repeat customers, unless you build a solid portfolio, credentials and business relationship with clients.
Hence, an investment of $10,000 may take a while to recoup, and with so many photo booth business offering the same kind of service, using the same equipment – the trick is to offer something new, something which will definitely catch the fancy of potential customers while earning some good money along the way.
This is where SPINSHOT360 can help you. We have pretty much established how SPINSHOT360 is redefining the photo booth experience with its unique and fresh take on the popular party must-have.
SPINSHOT360 offers an interactive photo booth experience, with 3D image capture that can be easily shared on social media, providing more leverage and better premium for potential customers.
What’s even better is owning your very own SPINSHOT360 photo is much more affordable than the standard photo booth of yesterday.
The SPINSHOT360 Software and Kit is available at $7,500 and comes with a permanent license and full suite of hardware, including the SPINSHOT360 PC App, the Spinshot360 Camera App which you can use regardless of how many devices you have, the SPINSHOT360 Suite which is installed in tablets and accessed by guests.
The software system comes packed and secured with a USB Keylok that that is specifically registered/licensed to the owner.
Rounding up the full package is the hardware kit which comes with camera stands, phone holders, phone powering systems and the alignment tools.
And even if you purchase the Android phone separately from the whole package, the cost of investment is still significantly lower to that of a standard DSLR package.
The novelty and the uniqueness of the interactive photo booth experience also guarantee that you get more significant interest from potential customers.
More potential customers mean a shorter turn around period for the return of your investment, with six months being a viable turn-around time for a return on investment.
To know more on how to maximize your investment on your very own SPINSHOT360 business, go to https://spinshot360.com/home.