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Can a photobooth business still be profitable?

With the sheer number of private and corporate events now taking place across the UK, the demand for special event services is growing at a pace. This means that photobooths – always popular with guests – are still a great business to get into.

The flexibility of photobooths means that:

• They are great for all kinds of events – from business launches and galas through to weddings and birthdays
• They are cost effective to invest in, without any excessively high upfront costs
• There is a steady market and the potential for repeat business
• The business is a flexible one and ideal to enjoy as a second income
• There are excellent rewards to enjoy if you work hard and do what it takes to succeed

The last point is absolutely key. Photobooths can offer an excellent second business and a potentially healthy income – but they are a business like all others!

This means that you must be prepared to work hard and follow the usual steps for success. Think like an entrepreneur and take a thorough, systematic approach to consider everything you need to succeed in this branch of leisure and hospitality services.

Make your photobooth business succeed with the following steps:

1. Get your business plan in place

There are plenty of useful templates to get you started online and courses that you can take if you are new to owning a business. Templates will help you to work through key concepts such as the financial plan and competitor analysis, as well as the steps needed to ascertain the market in your area.

2. Think about marketing

The success of your photobooth business will depend very much on becoming known within your local area. With that in mind, invest in both print and digital marketing. For example, you could:

• Hand out branded business cards at events
• Offer referral benefits to happy customers
• Launch a ‘free photobooth’ competition in return for social media shares
• Invest in online marketing
• Develop exciting social media content on platforms such as Twitter and Facebook
• Exhibit at wedding, trade and event exhibitions
• Place advertising in event publications

3. Be ready to work, work, work

Persistence is absolutely key to success as an entrepreneur, and you need to be ready to put the hours in and to accept that business will take a while to grow. Always think about the longer-term return on your investment and have a realistic timeframe for your financial returns to grow. Remember, this isn’t a ‘get rich quick’ scheme (and we all know that they don’t really exist!) However, with effort, motivation and the willingness to learn as you go, you’ll create a sustainable and profitable business that you love!

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