In 2024, more and more savvy entrepreneurs will be waving farewell to their boring desk jobs. Did you know that the gig economy is the fastest-expanding workforce sector in America? Short-term work and freelance opportunities are the future, and it’s not too late to make a change.
Buying and renting out photobooths is one fantastic way to get your foot in the door. Likewise, venue owners can boost their businesses with an on-site photo booth for their events.
But how much does a photo booth cost, and can you really make back your investment? Could renting photo booths even become your job?
The answer to that question depends on a number of factors. Generally, however, the answer is yes! We’ve created this guide to break the price down for you before you commit to your new gig.
Let’s dive into and explore the real cost to buy a photo booth in 2024!
Do People Really Rent Photo Booths?
Did you know that the average person takes up to 450 selfies per year? You might not be aware of this figure because most photo fiends don’t post all of them.
What’s the difference between a selfie that you post and a selfie that ends up buried in your photos app? Selfies that make it to social media are flattering! They have great lighting, dynamic backgrounds, and feature visually interesting elements.
Event photo booths offer great lighting, compelling backdrops, and fun props. Plus, the most contemporary models allow direct posting to social media. Party guests don’t have to wait to flaunt their fantastic photos! Plus, hosts get to benefit from seeing all their event photos in one place under a single hashtag.
In this age of FOMO, this makes having a photo booth at events a must. They are becoming non-negotiable at many events, from weddings to Bar Mitzvahs. As long as photobooth tech continues to evolve with social media trends, there will be a market for these rentals.
We’ve seen individuals make up to $400 for a two-hour party.
What is the Average Photo Booth Cost?
Now that you know that there’s a market, one question remains: what is the initial photo booth purchase cost? That depends on whether you choose a new, high-tech model and how much you choose to put into it.
Ask yourself the following questions before you choose a model:
- Does it come with everything you need to begin renting it out?
- Does it have a high perceived value for prospective renters?
- Does it include flattering lighting elements that boost the look of the photos?
- Will you have access to tech support if something goes wrong?
With photo booths, you tend to get what you pay for. Likewise, be aware that renters have options. You can choose to spend about $800 for an iPad on a tripod. However, renters may prefer to work with businesses offering a more flattering setup.
We recommend an investment fee of no less than $3000. This will ensure you are getting a quality product with high-end customer service. Remember, the more you put into your business, the more you’ll get out of it. That means the more you pay upfront, the less you’ll have to work to make a profit.
Some photo booth manufacturers may offer financing to make the investment more affordable.
Your Future Begins With a High-Tech Photobooth
Bringing in extra income should be easy. That’s why Photo Booth International makes buying your own portable photo booth as simple as possible. You’ll receive custom web design, lifetime tech support, and access to the latest technology. Plus, you’ll become part of a community of fellow small business owners looking to make photo booth rental their career.