EventFoto Projections


Revenue from the new Photographer Subscriptions


Assumptions:
1. Number of Freelance Photographers:

  • Let’s assume there are 5,000 active event photographers in Nigeria who would find value in this service.
  • Targeting 10%-20% adoption initially = 500–1,000 subscribers.
    2.Monthly Subscription Fee:
  • Affordable pricing, e.g., ₦3,000–₦5,000/month (~$4–$7) for access to the platform and QR code generation tools.
    3.Churn Rate:
  • Assume a churn rate of 10% per month as photographers drop out or don’t renew.

Annual Revenue Projection:


Scenario Subscribers Monthly Fee (₦) Annual Revenue (₦)
Conservative 500 3,000 18,000,000
Moderate 750 4,000 36,000,000
Optimistic 1,000 5,000 60,000,000


Revenue from Commissions on Photo Sales


Assumptions:
1. Photos Taken per Event:

  • A photographer takes 200 photos per event.
    2.Photos Purchased:
  • On average, 10%-15% of photos are purchased by guests.
  • This equals 20–30 photos/event.
    3.Photo Price:
  • Digital photos are priced at ₦500–₦1,000/photo (~$0.65–$1.30).
    4.Photographer Events/Month:
  • Each photographer covers 5–10 events/month.
    5.Platform Commission:
  • Charge 10%-15% commission per photo sale.
    6.Active Photographers:
  • Begin with 500 photographers selling photos regularly.

Revenue Projection (Per Photographer):


Scenario Photos Sold/Event Events/Month Avg Photo Price (₦) Commission Rate Monthly Revenue (₦)
Conservative 20 5 500 10% 5,000
Moderate 25 7 750 12% 15,750
Optimistic 30 10 1,000 15% 45,000


Aggregate Annual Revenue:


Scenario Active Photographers Avg Monthly Revenue/Photographer (₦) Annual Revenue (₦)
Conservative 500 5,000 30,000,000
Moderate 750 15,750 141,750,000
Optimistic 1,000 45,000 540,000,000


Combined Revenue Projections


Scenario Subscriptions (₦) Commissions (₦) Total Annual Revenue (₦)
Conservative 18,000,000 30,000,000 48,000,000
Moderate 36,000,000 141,750,000 177,750,000
Optimistic 60,000,000 540,000,000 600,000,000


Key Variables to Monitor

  • Photographer Acquisition: Growth rate depends on how quickly photographers adopt the platform.
  • Guest Behavior: The commission revenue hinges on guest willingness to purchase digital photos.
  • Upselling Features: Adding premium services like AI editing could boost average revenue per user.

With strong execution and adoption, even a moderate scenario could yield ₦150M+ annually (~$200,000), a significant return for an MVP in this niche market.


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