What Happened to Pink Shutter PhotoBooth After Shark Tank?
What is Pink Shutter PhotoBooth?
Pink Shutter PhotoBooth is a company established in California and Las Vegas that rents out PhotoBooth for private and business events.
Pink Shutter PhotoBooth is a popular “accessory” for weddings, parties, and business meetings. A “technician” from Pink Shutter PhotoBooth arrives at an event location and sets up a portable, high-tech PhotoBooth outfitted with touch screens and CANON Digital SLR cameras.
It has high-speed photographic printers as well as “party props.” Guests may join the PhotoBooth and immediately create a picture keepsake of the event.
The Pink Shutter PhotoBooth claims to be the best PhotoBooth rental business in the market, and their countless Yelp reviews back up that claim. They also provide a video option and a low price guarantee.
Who is the founder of Pink Shutter PhotoBooth?
Pink Shutter PhotoBooth, a PhotoBooth rental company with sites in Los Angeles and Las Vegas, was created by Lance Yabut and Tom Kanemoto.
Photobooth rentals are becoming increasingly popular for weddings, parties, and other festive occasions. Pink Shutter PhotoBooth was developed as a result of the market’s lack of such a service.
When a person rents a Pink Shutter Photobooth, a Pink Shutter Photobooth technician will arrive at the event to set up the temporary PhotoBooth.
Each Pink Shutter Photobooth comes with accessories for guests to use in their photos as well as a high-speed printer so that each guest may take home a copy of their photos.
What Happened to Pink Shutter PhotoBooth at Shark Tank pitch?
The Pink Shutter PhotoBooth is the industry leader in PhotoBooth rentals in California and Las Vegas. Lance Yabut pitches the Sharks on growing his profitable and highly recommended service organization in Shark Tank episode 425. They’re seeking for a Shark to help them grow their business.
Lance Yabut and Tom Kanemoto appeared on Shark Tank, seeking $300,000 in return for a 10% stake in their firm, worth $3 million.
The couple persuades the Sharks to test out the PhotoBooth for themselves, taking some entertaining photos with accessories like sparkling hats and other amusing items.
With his pink feather boa and gleaming, huge eyeglasses, Daymond John sticks out. In its first year, the company was debt-free and produced a profit of $195,000 dollars.
They more than quadrupled those earnings in the first quarter of the second year, putting them on track for another profitable year.
They now operate in five major cities: Sacramento, Los Angeles, Las Vegas, San Francisco, and San Diego.
Mark Cuban was intrigued about what set them apart from other PhotoBooth companies. Yabut discloses that they have cut the price of the PhotoBooth and have partnered with Groupon and Living Social to promote their products online.
“There’s nothing proprietary about this,” says Kevin O’Leary. He was the first Shark to exits.
According to Mark Cuban, the pair established a climate in which their margins were large, allowing competitors to undercut the business. He also exits.
Daymond John questions the statistics. Each of them makes $100,000 each year. He also exits because he doesn’t think the figures stack up.
Robert Herjavec agrees that the math does not work up and feels that 10% ownership is not worth his time. He also exits.
Barbara Corcoran was the Sharks’ sole survivor. She makes an offer: $300,000 in exchange for 33% ownership of the company, with the condition that she get $100,000 in addition to the couple’s salary.
Mark Cuban re-entered the debate, providing the same offer but with the restriction that the $100,000 return would not be accepted until they generated $1 million in sales.
Following a lengthy conversation, the two return with a counter-offer: a 25% stake for $300,000 divided between Corcoran and Cuban.
The Sharks refuse to change the percentage, and Cuban accuses them of being “wishy-washy.” They accept Barbara Corcoran’s offer and walk away from the pitch with a deal.
What Happened to Pink Shutter PhotoBooth After Shark Tank?
Barbara’s deal was finalized, and Barbara Corcoran “put in the work” to assure the success of Pink Shutter PhotoBooth.
Since their participation on Shark Tank, Pink Shutter PhotoBooth has been invited to various events sponsored by prominent corporations such as Hulu, NBC, and DreamWorks.
Pink Shutter PhotoBooth’s owners are well on their way to establishing a globally renowned firm, and they are reaping the benefits of a Shark Tank Deal.
The couples are grinning all the way to the bank with Barbara Corcoran.
They will have ten sites in San Francisco, Honolulu, Dallas, the Inland Empire, Los Angeles, Las Vegas, New York, Orange County, Sacramento, and San Diego by August 2021.
The company is still in business as of February 2022, with annual revenues of $5 million.
Competitors of Pink Shutter PhotoBooth
Photobooth 5000 and The Booth Company are two of the company’s main competitors.
Net Worth of Pink Shutter PhotoBooth
During the pitch, the firm was valued at $3 million; following Barbara Corcoran’s contribution, the company was valued at $909,091.
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Pink Shutter PhotoBooth FAQs
What is Pink Shutter PhotoBooth?
The Pink Shutter PhotoBooth is a corporation that rents out and sells PhotoBooth.
Who is the inventor?
Pink Shutter PhotoBooth, a PhotoBooth rental company with sites in Los Angeles and Las Vegas, was created by Lance Yabut and Tom Kanemoto.
How much were they seeking on Shark Tank?
They were looking for $300,000 in exchange for 10% equity. The firm was worth $3 million.
Did they have the deal?
Yes, Barbara Corcoran did the deal.
What was their offer?
Barbara Corcoran offered $300,000 for a 33 percent stake in the firm, with the condition that she get $100,000 in addition to the couple’s earnings.
Is the Pink Shutter PhotoBooth still in operation?
Pink Shutter PhotoBooth is still up for business. According to a recent press release, the company’s main agencies and brand partners have agreed to support the company’s forthcoming events.
How much do they earn now?
Pink Shutter PhotoBooth makes $5 million every year.
Where is Pink Shutter Photobooth located?
Pink shutter PhotoBooth is available in San Francisco, Las Vegas, and Los Angeles.
When is the Pink Shutter PhotoBooth available for booking?
Pink Shutter Photobooth is available for renting on a yearly basis.
What is the pricing of the Pink Shutter Photobooth?
PhotoBooth rentals range in price from $300 to $525, depending on the bundle.
What are the options?
Pink Shutter PhotoBooth has booths available at all of their locations.
What is the cost of renting a Pink Shutter PhotoBooth?
The cost of renting a photo booth starts at $399 per day and may go as high as $409 per day depending on the package you choose.
Is Pink Shutter PhotoBooth a viable business?
Yes. PhotoBooth are a tremendously profitable business. Because the equipment is affordable, the majority of the costs connected with running your business are labor and marketing.
What if I have an urgent occasion coming up in the next seven days?
For last-minute appointments, please text the owner’s personal cell phones at 916-717-8151 or 916-832-9080, and we will do our best to accommodate them.
What if my event is rescheduled or rescheduled?
All redeemed vouchers are only valid for the time and date mentioned in the contract. Time changes within the same day are permissible if consumers request them more than 30 days in advance.
Nonetheless, all voucher redemptions are final and can only be rescheduled if another booking takes their original spot. Customers understand that their schedules or plans may change, so please inform them as soon as possible, and they will do their best to cover the spot with another appointment.
Who is the company’s CEO?
Lance Yabut is the CEO of Pink Shutter PhotoBooth.
