Make money going to parties

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GM. This is Work "After" Work, the newsletter that hunts down the best side hustles for you to start.

You can call us the Nicholas Cage of money.

It’s Friday, let’s boogie:

• 📸 The photo booth business

• 😂 Meme of the day

STRIKE A POSE

Winter graduation is coming up and spring will be here before you know it and that only means one thing… it's party time!

Wanna take a guess at how many people are set to graduate this year? If you said 3 million… double it!

That’s right, across America over 6M people will graduate this year from high school to college to graduate school.

If you’re a parent or recent grad, you know how big an occasion this is for families. If your house can comfortably fit 10 people, rest assured your family invited 40. Heck, I met people I never even knew were related to me when I graduated 😂

And that’s because these celebrations usually only occur twice in someone’s life - after high school and after college. This is why families are willing to shell out an average of $1,100 for the party.

And as they say, “pics or it didn’t happen”. And boy do you take a lot of pictures. It’s like your 4 hours of fame.

What better way to take them than with a photo booth? The thing that allows everyone to act silly and gives you the best memories you can keep forever :)

If you haven’t guessed by now, renting out these photo booths is also a killer side hustle!

You can charge $100 an hour like this company in Tennessee and make $700 to $1200 per event on average. Book a corporate event and you’re easily looking at $3,000.

Top-of-the-line photo booths like the Mior Mirror costs up to $8.5k but if you’re making $600 - $3,000 an event, you can cover the cost after just 3 or 13 parties.

You can start to see how lucrative this really is when you have two photo booths each making you $900 an event. That's $1,800 for just one day and chances are you'll get two rentals per week - one on Friday and one on Saturday.

That means 2 events a week with one photo booth makes you $7,200/mo! Two photo booths - $14,400/mo!

Want to get in on this?

HERE'S HOW TO GET STARTED:

1. Buy your photo booth 

There are numerous photo booths available, but you want a high-quality one. Your equipment will speak for your brand. A cheap and half-working one won’t go over well.

The better the experience your customers have, the more likely they are to refer you to others, which means more money in the future.

You don’t have to get the Mior Mirror booth. There are cheaper options. Check out HootBooth for ones ranging from $2500 - $7500. Just make sure it looks nice enough to impress your customers.

Pro-tip: Buy funny glasses, crowns, hats, and hawaiian leis... any props that make the experience more fun!

You can also rent these out in the beginning but your margins will be slim. The real money will come from buying one and paying it off as you do events then making pure profit once it's paid off.

2. Market your business 

There’s three big ways to do this.

1. Spread the word about your new business to others

Someone in your immediate circle may plan a graduation party in the coming months, tell them you can get them a discount on a photo booth.

This helps you get your business going and pays off a portion of the booth.

2. Throw a fake party

Rent out a photo booth, throw a fake party, videotape it, and make it into a TikTok, Instagram reel, or YouTube short. Mention you know someone who gives discounts on photo booths and see if you get any DM's about it.

3. Run ads to your website

Don’t sleep on the power of the internet. Set up a website and get some traffic through ads.

Who are you going to target? Let’s say 40-60 year olds on Facebook aka parents most likely with graduating kids. A fun picture of kids laughing in a photo booth should do the trick.

You don’t even need to know how to build a website. You can simply hire someone off Upwork or Fiverr to do this for you at an affordable price.

Pro-tip: Make sure you run Facebook Ads for your area. Since you're gonna need to transport these things around town, you might as well keep business close.

3. Hire an hourly employee

After a while, consider adding a second photo booth in order to be at two places at once - making you double a night.

Of course, you can’t be in two places at once unless you’ve got superpowers you haven’t told me about.

You’ll need some help. Hire someone to set up and transport the booths from wherever they’re stored to the party. On average, a photo booth operator charges $17 per hour.

Look for someone who:

• Has amazing customer service

• Is extremely nice and positive

• And is willing to work hard! You can teach them the rest

Your workers will after all be the face of your business and determine if your photo booths get recommended for other parties.

That's all I got for ya! Get out there and make some serious money by making others happy 👊

eBook: How to minimize third-party risk with vendor management

A robust vendor management program isn’t just required by compliance frameworks like SOC 2 and ISO 27001. It’s also a critical part of a holistic trust management strategy.

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This guide from Vanta, the leading trust management platform, brings together perspectives from the frontlines of vendor security management. Get insights and best practices from security and compliance leaders. 

MEME OF THE DAY

😂😂

That's a wrap ladies & gents! Enjoy the weekend :)

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.