Inside the Wedding Industry: Photography, Pricing & Reality | MUST WATCH 🔥💥 | TRP by Suhas |

Inside the Wedding Industry: Photography, Pricing & Reality | MUST WATCH 🔥💥 | TRP by Suhas |

Author Name:The Real Podcast by Suhas Shetty

Youtube Channel Url:https://www.youtube.com/@trpbysuhas

Youtube Video URL:https://www.youtube.com/watch?v=QoMbRd1m0AQ



Transcript:
(00:02) Weddings 1 lakh rupees average ticket sizeakvenue is there only wedding photography. We have to spend money on marketing. We run ads every day. So my daily ad spend close to 25 30,000 on a whole monthly we
(00:49) spend five lakhs on marketing point. What do you say about that to start with? Okay. Not about one single indry. But I believe that whatever that comes out of our mind or comes out of our mouth external
(01:39) one of the problems. So clients like above three lakhs, five lakhs token. Yeah. Yeah. Overall, what is the wedding photography market size? Since you are more into wedding, what is the market size?
(02:26) >> Only for wedding photography. 1 cr 1A ticket because we charge three someone will charge 5 10 everything is justified. 1 lakh into 1 cr is also 1 lakh crores of business. 1K of revenue is there only wedding photography but traffic noise but demand is yeah this May 9th we were forced to say no to three four miscon consumption.
(03:13) The reason why I mean weddings that is the flow house parties welcome equipped but only that is the reason I asked you how how do you handle that's what Feb, March, April. But in terms of workflowed is one of the toughest things and 1 to
(04:04) 10 almost. Okay. Okay. Actually packed. Okay. I mean your firm name is big. Big day by chai. Okay. Basic background. What's your worth to be in this space? What's your experience past? Okay. I know you. almost when I entered into Hyderabad market to give the best answers to the public.
(04:55) Yeah. Yeah. Yeah. Negative answer first Petetro Petroleum graduation one month holiday month and subject without crude oil nothing will run actually. So I was active in clubs. There I realized okay if this is how it
(05:45) works video systems GoPro drone I started whatever that used to come onto my table. I used to do that. Uh be it short films, be it advertisements, be it weddings, be it corporate events. Their wedding is something I'm enjoying a lot. Different different people. I can make anyone smile easily. Okay.
(06:33) I'll make you smile like this. wedding slow. Uh the more important thing is making the other other person be comfortable and because got so advanced because it used to take 30 seconds. Exactly. >> So that's why my thing is making people feel
(07:18) comfortable and making sure they're happy. >> I can create an entire movie also. Yeah. end of the day mean okay% difference this is about the brand building what is the reason okay 60 lakhs Actually 30 lakhs
(08:05) not to down the Indian market or ever know this in comparison. 2 match difference. So quality let's say if I'm charging one what they use is like highend cameras but they have to decide what their cost
(08:52) is and that's justified but entire wedding industry transparent pricing Okay. You have a photography. You have 15 20 years of experience. Experience you have to value at some X cost but I have problem there. >> Okay. Yeah. Last year you were team of 20 people, 25 people last year. >> Yes. 75 number one, what is the reason for your
(09:38) growth? And number two, workshop. The workshop is about please come. I'll teach you how to grow once is very easy. Trust me. First we have to understand whether that client is is he our ideal client or not. Agree. Someone who love uh zero sugar uh
(10:28) good quality, good experience, quick buy. So that is the only difference we have. That's it. Okay. What's your age? Sorry if I 27. >> 27. What's the market size you are dealing with is very huge. >> Yes. >> Right. >> Yes. So whoever they're in the market XY Z name they charge you charge about 10 lakhs next person I charge about 30 lakhs
(11:14) outsourcing that if that couple story exits me definitely I will >> yeah okay that You know, no wedding.
(12:04) We'll pay some and we'll stop them from going to others. Yeah. We spend that money on retraining. Okay. Weddings. How many on a rough note as on today? How many weddings you handle? >> Uh per day we shoot close to 10 weddings. 15 weddings. Yeah. Instant concept. Yes. product. Yes. Customizing. So what are all these products?
(13:15) Okay, very beautiful question. With time photography back then it was just photo albums magazines, coffee table books as a family. Yeah. >> So we try to make the event more interesting. >> Okay. >> Which means it's a good thing only. >> Agreed. >> Yeah. So but couples. Okay. families.
(14:20) Welcome party. Yeah, I three four entries in event planners. But this is the truth. Uh we we have to question ourselves. Event planners. What is your what is your expectation? I'll convince you
(15:11) I spent close to one year on my wedding hard It was candid only. So blessings decor. set.
(16:10) Okay. But on a whole is a very biggest ritual in one's life. Most of the people Yeah. Yeah. Yeah. Why it is why why can't we make it as a corporate format? Why not a brand name? Yeah. Agree. That's what Okay.
(17:01) It's not possible. No, it's humanly impossible. Okay. Because margin if you really pay taxes and all of that and data is very important thing. last two months we spend close to 25 lakhs. So data is very tough. So that's why building a brand in this with a corporate name is tough. >> Okay. But uh future
(17:57) I I have clarity 3,000 weddings right now. Oh >> yeah. So director's concept. So big day byas I want to give your own label because it's a group group of big day by X. Yes. Yes. Because people work for people. We
(18:42) all know that. >> Yes. Yes. Yes. right set of people will work for people as of I know Yeah. Yeah. B2B2 B2C 93% is from B2B from vendors uh even planners. Mhm. So moreover demand was through social media and
(19:33) Instagram was very huge. Yes. And have you came across that similar format? Because what we are catering is affordable crowd cover. I want to give the best quality at an affordable cost. So if you are in wedding still you are in wedding I want you to be with me and what do you say obviously? Yeah.
(20:12) Then give me question. It's all about how we position we can launch a luxury photography brand. Yeah. That's not so easy. Even I come from the same school. What are the challenges you faced in terms of scaling? Of course. Okay. Majorly uh set of managers of managers. So in this three years what I understood
(21:03) is it's not it's the team who run the company but a team we should have solid managers. Okayent as simple as if you're giving services accordingly to that. But just because uh that is happening at
(21:50) this cost literally people are spending 5% 3% niche 50% few.
(22:42) Why don't you engage those formats also into your format? Yes. Yes. >> Less is more. >> If you give more, >> that's all almost like it's always a headache. Don't overpromise. main output the wedding film the main
(23:30) so less is more invitations I'm so sorry we don't do invitations but we have a lender okay you give us the money that's Okay. What do you suggest for them? Self learning. So selfarning
(24:22) even they will be equipped with a better knowledge and experience. So what do you sgest? It depends on person to person but I might grab fast. So it depends on person to person but First five 10 weddings then you take 100 weddings. Yeah.
(25:22) market size. What is the capex from your side >> on the g tech integrations all these things actually right but how do you handle for this kind of huge things then okay so basic Okay. Okay. Yeah. Basic camera. It depends on.
(26:22) And today we do at this scale because I I invest on teams because this is this is something entirely humans have to deal. Last year 600 600 best different experiences.
(27:09) This is my best wedding film right now. Next month different better experiences with celebrities sorry celebrities celebrities all regular that's a different category entirely handling itself is different output outcomes okay but what I'm actually planning and my vision on a whole is Mhm. So that's why I don't do that.
(28:03) Yeah. Unfortunately. Okay. Because of cash flow. Okay. Yeah. reason cash flow that will have a big hit for sure. So maybe like regular sales cash runway I literally have 6 months of salary as runway all the time. I don't touch that fund. So marketing we have to spend money on marketing. >> Yesterday we done ads every day.
(28:38) So my daily ad spend close to 25 30,000 on 25 30,000 and on a whole monthly we spend five lakhs on marketing. >> Yeah. >> So who is spending money on marketing? >> Not even 5,000 meta ads and Google ads. >> Yeah. Only meta ads we spend five monthly. >> Monthly. Yeah. Okay. >> So without marketing there is no business.
(29:07) management. What do you suggest for them? Bounce back. Yeah, definitely. And business problems very common. >> But I heard that you're opening in bigger office as well. Uh what's the capacity of that office? uh space 12,000 it can accommodate 150 people just back office plus client visits and client meetings.
(29:43) Oh okay okay okay okay fine fine >> but I want to give that thing for sure obviously Okay. But so he expected something similar to that
(30:29) only right. So starting but he always encouraged me like this might not be in there for sure. but yeah now he's like damn happy which category in this wedding or photography is untouchable Good question. Yeah. Just two days back I
(31:13) posted avenue. Okay. Weddings documentaries film making weddings. Baby shoots or weddings. Weddings is the toughest thing out.
(31:59) It's very tough. FR company TBD 1,000 weddings into three lakhs average order 30 crores after all expenses capex expenditure fixed floating consider 15% of is it >> yeah that's it after like after everything 15% 5 hardly 5 crores it 30 crores But
(32:43) which is grandparents. They are the last innocent generation we have. So documents. Show me one Indian brand which is focusing on them iceberg for elders. So I want to document their stories, their memories. So
(33:33) 25 literally 70%. >> Yeah. >> 15% versus 70ap and there are so many companies entire 60 70% baby photographies. Yeah. Yeah. Microervices, rental company, lighting company, editing company, freelancing. Why people are not going into that
(34:23) format? problem first 200 why not 10,000 why not 2000 of course market yeah just imagine Yeah, I completely agree. But people are not thinking of it. Yeah. Three, four members.
(35:17) Huge operator. Yes. Okay. Fine. Please don't buy cameras and waste. No, seriously. Please don't buy cameras and waste your money. Invest on marketing. Invest on that. Exactly. He have to come and do marketing. He have to run ads and he have to create
(36:03) that. Yeah. On what basis you audit them. So first yeah definitely our HR will talk HR will see the works HR will understand whether they are syncing syncing with the vision and syncing with the office culture if that's interview question
(36:48) direct We'll make him sit for some time. Seriously, I'll make him sit for start. So, waiting is mandatory in this waiting almost. Yeah. Yeah. So weight change then we'll ask them to do some edit photo video. So mindeting is all about mindset.
(37:43) So we'll ask him to edit. You mean to say okay market top 10 videographers waiting for if you are one out of them I think so how you differ yourself from other them >> we are the first to introduce transparent pricing >> okay yeah >> and transparent pricing in the sense fixed pricing Yeah, we're doing this from beginning
(38:36) starting 2023 when I started photography as my serious business transparent one in uh we believe in the concept of no disturbance. Okay. We never ask you to pose. >> Oh yeah. And we are not models. You have to crack jokes and make them smile. and wedding. Okay. And it's okay.
(39:32) Give me time. I'll say no to that. They are not ideal clients. Yeah. How do you handle with them? Okay. But what the method that we follow is
(40:23) okay. So natural tone. So please don't ask me for warm now. Yeah. multiple policies change. I I am I mean from an business background the bottle shop my father and my brother they into this old I mean we make very huge revenue out of weddings
(41:07) and other things so I know about that from Yeah. Yeah. Yeah. Yeah. I'm from
(42:03) I don't see it as a problem. Mhm. India in this is not for the country. I'm talking about the photographers or videographer companies of India. Okay. So, but how we going to survive that matters
(42:51) 49 Exactly. 200 300 TB volumes. Okay. SD is not cost effective. So third backup next month
(43:42) very 40k per month 500 TB. Okay. Okay. Okay. TB hard it will cost you somewhere around 30 40 lakhs. M out of this social social media impact number one that's a bloody advantage I completely agree number two yes and number three but of course social media
(44:30) but what's your take on them >> I 100% accept to that uh negative is common. >> Okay, >> we have to face it. How you handle it matters. And when it comes to using social media to the fullest iceberg, it is because of social media only. So business beyond that it's not possible. uh and initial talk, initial push, social med 10,000 rupees, you want a service, you
(45:17) come directly book us. >> Oh, okay. Okay. Okay. and wedding trying to launch back. Yeah. I mean you are planning to be kind of an aggregator in this format then yeah photography view engagement view handling the scenarios was completely different now it is completely different now it is more of show off to put it in the front face to I mean not to satisfy me satisfy others and multiple
(46:04) These are the facts in the market. So it's all about is out of your business or my business just casual casual talk perspective discussion end of the day inspired businessman some exerson
(46:56) I'll get the more inspiration from this person this is the real success by God's grace what's your take on them is it okay to spend It's not okay to spend. >> What's your view? >> It's okay to spend if you are capable enough. >> Exactly. What's your view on it? If you spend more, it comes more. Yes. Exactly. I agree.
(47:44) If you so you have to able to buy time quality but contator format multiple cross branding cross marketing possibilities products launch that is good enough. So slowing upgrade you building an office of course you you have your perfect plan to get returns out of it. So what's your take for the next 3 to four years? >> Okay. Simultaneously
(48:28) we are trying to build uh two other labels under same. >> Okay. >> What kind of film which I spoke to you some time back films for elders. I want uh like I spend my time on every satisfactory.
(49:13) So is one more thing for wedding and I'm about to launch an app. We're working on it. You can consider like a flash shoot in cameras. Oh. Oh yeah. as a photographers. So regular shoots is what that will provide. Okay. Okay. We'll accept shoots and regular shoots. Exactly. Yeah. Thank you. Hope you like
(50:00) it. Yes, I had a great time. Yes, it should be casual. Yeah. Exactly. The podcast should be in the podcast for language. Exactly. I've done taken this initiation.