The Value versus Price Debate
Many times per day we have a conversation with potential customers about the value that a quality photo booth and service offers versus a bargain booth.
Here is a scenario I would like you to think about about two photo booth owners.
Scenario 1 - This business buys an inexpensive photo booth so they can get started in the industry. With a website they threw up and a webcam photo booth they start taking cheap photo booth gigs at $200-$400. They work, staff, and manage 70+ events a year, and bring in net revenue of $14,000 to $28,000. (70*400=$28000). With an average event taking 5 hours to setup/takedown and operate, they spend 350 hours a year just working events.
Scenario 2 – This business buys a quality photo booth. They offer a premium photo booth option and only take high paying events. They work, staff, and manage 50 events a year, charge $600-$1000 an event and bring in net revenue of $30,000 - $50,000. Each event takes only 20 minutes for setup/breakdown, so you can pay employees less or save yourself time. With an average event taking only 4 hours, they work just 200 hours a year on events. That's just shy of 4 hours a week.
Which option would you prefer?
Of course scenario 2 is the better option here.
An entertaining, high quality photo booth will provide value above and beyond what your customers would expect. The extremely high quality photo prints, easy to use system, and reliability of your photo booth will result in the most enjoyable experience for your clients.
Providing value to your clients will allow you to charge premium rates and offer a better user experience than just providing a photo booth that takes mediocre photos. Are you going to feel proud and successful of owning the best photo booth in your market or the most inexpensive photo booth in the market?
Which photo booth is easier to sell?