Been in the photo booth industry for nearly 10 years and generate $400k annually (set to do over half a mil by 2024) in the wedding and events space. I don’t feel like I am the expert by any means in business or entrepreneurship, but I’ve built a couple successful companies on a small scale, and have an MBA, so maybe I can contribute to your success. AMA!
What parts of the business do you personally manage? Have you considered the pros/cons of paying a manager to run every part you currently run?
I manage most of it. Yes I’ve definitely considered this. The hardest part is the detailed knowledge required for even being able to quote a customer on most of our new experiences. There’s not a standardized price for a lot of what we do, it all depends on factors like where it’s located, what the client is asking for, whether or not we are actually capable of doing it, and then if so what it would cost to build that experience out. So even if I brought in a manager I’d still be responsible for half of the inquiries, customer questions, phone calls etc. All the stuff that can be taken care of gets hired out like design work, taxes, event labor, etc. there are definitely ways I can standardize more of my business and focus on growing those areas and then get a manager into take over that part of it and branch out just a creative side of the business that I manage, but haven’t made that change yet.