MemorySnap Business Plan for Instant Photo Booth

Abstract

The trend of instant photo-taking originated from the culture of capturing sticker photos in Japan during the late 90s to the early 2000s (Hà, 2023). Unfortunately, it has been fading for a while due to the advent of smart phones and other digital devices. However, in recent times, the trend of taking instant photos in a photo booth has made a comeback and gained the attention of youths in several countries, including Vietnam. The youth have embraced taking instant photos in a photo booth for various reasons. Not only does it have a reasonable price, simple operation to customize on modern equipment, but it is also extremely trendy with many types of frames, diverse transformation accessories, varied and timely changes aim to stimulate the attention of the user. As more and more individuals from Generation Z show interest in this form of photography, the ultimate goal is to preserve memorable moments and create a more special experience rather than merely storing images in digital files. This study presents, evaluates, and provides information for a business model named 'MemorySnap' - Business Plan for Instant Photo Booth. This establishment primarily offers instant photo-taking booths. Additionally, aiming to enhance customer experience, MemorySnap also provides a service for decorating 3D photo frames, offering unique decorative forms. It utilizes creative elements such as mica layers, stickers, decorations, patterns, and other materials to create depth, elevate visual impact, and provide an engaging experience for customers. Alongside this, we offer mica keychains featuring printed images upon request. These products can be used as gifts or commemorative items, offering personalization and customization options to create spiritually valuable and personal connections. Moreover, there are additional supplementary services such as plastic lamination and photo framing. This plan encompasses all specific details regarding the operation of the MemorySnap instant photo booth store. The strategy focuses on establishing the store from scratch, including market research, evaluating core values, managing human resources, operations management, developing financial plans for at least three years, and corresponding marketing strategies. Along with that, investigate risks, proposes solutions, and sets shortterm and long-term future directions for the company. Every aspect of the plan is meticulously developed to be as realistic as possible.