From Photo Booths to Virtual Events: Snapbar's Pivot to Tech
The box is sitting somewhere and Joe is told that he can take it because the groom doesn't have any need for it. It was just this one-time build thing. So it ends up in my garage... collecting dust. But because it was a wedding that a bunch of people were at that we knew, people were like, oh, this is kind of cool, like now Sam and Joe have this box. And they can bring it to any other event that we have going on.
What happened over the years from say 2012 when we started... 2015 is when Joe and I went full time. So for three years it was it really was the ultimate side gig... But for three years it was like ultimate side hustle, we had full-time jobs. 2015 we went full time, and from 2015 to 2020 it was really like the growth of our like photo booth business.
I emerged from that sabbatical and from like dealing with that whole episode a lot less ambitious. And I've never been the same level of ambitious as I was prior to that. And I don't think that's a bad thing necessarily for me. I just realized, you know what? Ultimately that is not what I care about.
- Snapbar started as an ultimate side hustle from a handmade wooden photo booth at a wedding that friends initially requested for their own events.
- The initial business model for Snapbar involved charging friends $99 for photo booth sessions, which was meant to deter requests but instead created more demand and revealed an unexpected market.
- The first payment to 'The Snapbar' was a check made out to a Facebook page, forcing the founders to officially incorporate the company to deposit it.
- The growth of the physical photo booth business was significant from 2015 to 2018, with an 1100% growth rate in three years, but was challenged by the one-off nature of social events.
- B2B events, such as corporate holiday parties and conferences, offered more predictable and recurring revenue opportunities compared to the seasonal and singular nature of social events.
- COVID-19 forced Snapbar to pivot from a physical photo booth business to a tech-focused virtual event solution, triggered by a customer's inquiry about an 'internet photo booth' for a virtual event.
- High stress during the COVID pivot led to a panic attack, revealing a physiological response to stress (cortisol imbalance) that often manifests after the peak stressful period has passed, rather than during it.
- Detaching personal identity and self-worth from the business's success is crucial for an entrepreneur's mental health, shifting from 'I am this business' to recognizing it as a situation to manage.
- $99 (Initial price charged to friends for a photo booth session.)
- $400 (Price charged for the first external (non-friend) wedding photo booth booking for an event a year away.)
- 500-600 (Number of different photo booth units/styles Snapbar had at its peak in 2019.)
- 1100% growth (Snapbar's growth rate in three years (2015-2018).)
- from $200k to $2.2 million (Revenue growth in one year for Snapbar's photo booth business.)
- 8 people (Current size of Snapbar's team after pivoting to a fully remote, software-focused company.)
- 45 people (Previous peak size of Snapbar's team before pivoting.)
- 6 weeks (Duration of Sam Aitken's sabbatical to recover from burnout and panic attacks.)
- 40 hours a week (Sam Aitken's current work limit, emphasizing a healthier work-life balance post-pivot.)
- 5 million (Peak annual revenue of Colin Stewart's previous business.)
- 85 people (Peak number of employees in Colin Stewart's previous business.)
- $3.3 million (Peak annual revenue of Snapbar's traditional photo booth business before the pandemic.)
RevBots.ai View:
- Snapbar's pivot exemplifies the AI Sprinkler stage: adding tech to an existing model.
- The shift to B2B events highlights predictable revenue over one-off social gigs.
- Founder well-being is crucial during high-stress transitions, often overlooked in tech startups.
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