There are a lot of reasons you can find in entering this kind of profitable business. People who love going to music concerts and sports event would definitely thrive in these kinds of transactions. Being a ticket broker would allow you to have the best seat in every important event while gaining an extra profit on the side.
Here are some steps to become a ticket broker:
- Have a license. Determine whether the state where you live would require you to have a license. While other states would just settle for a general business license, some would require a special license for ticket brokers.
- Have investment money to start with. It does not have to be big if you are not starting fulltime. You just need some amount to pay your supplier with the tickets you have acquired on wholesale. Meanwhile, arrangements can be made wherein you can pay after you have sold your tickets. However, not all retailers would agree on this. For the meantime, a few cash would be handy for starters.
- Do your a proper research. You do not just purchase tickets without doing your research first. You have to know some factors that may affect the marketability of your tickets. Not all tickets can be successfully sold by a broker, especially if they are out-of-season or with a weak demand. You can get tips from previous eBay’s listings about price ranges and types of tickets that have sold well. Tickets for weekend events are usually sold better. You also have to be mindful of the band’s previous tour performances. If the turnout is good, then you can as well have a favorable chance in selling your tickets.
- Know your market. Selling tickets is not simple. You have to be familiar with the place where the performance or event is to be held. The demographics as well as the economic situation of the place will affect your selling and pricing decisions.
- Buy your tickets. You have to be alert in buying tickets by searching for both pre sale and on sale dates. Be sure about what tickets to buy when you logged on to ticketmaster.com, or contacting any ticket retailer of your choice. Time is of the essence here, so you have to buy as soon as the tickets are released for sale. Select the number of tickets you want to buy, usually two tickets will do. Select those within 15 rows on the floor, or those within the first ten rows on the nearest side section. If you were not able to get the desired tickets the first time, don’t resort to buying a second grade one. People would not pay for those just as easily, and you may end up losing money for them. Rather, keep working on improving your quickness. If, on the other hand, you have the ability to make great deals, you can negotiate for tickets on eBay, Craigslist and Stubhub.
- Sell your tickets. There are popular websites on the net which you can utilize in selling your tickets. EBay can be an excellent choice since it has a bigger market with lesser fees to worry about. Craiglist will only be good for local shows, while Stubhub will require you to pay big fees. Know that the key to this game is proper timing. If you were able to acquire a ticket to a show which was immediately sold out, die-hard fans will give their eyeteeth for them. Post your tickets for sale as soon as you buy them, before potential buyers resort to other secondary markets.
In pricing your tickets, it is important for you to do a little more research. Checking out the rates in Stubhub and eBay will give you a quick picture on how much you can ask for it. Should you pay for fees and shipping to deliver, you need to price according to your expenses. A 50% profit is ideal for starters, but if you have managed to snag some premium seats you can go as high up as 300% profit.
There are a lot of success stories of ticket brokers available in the net. They attest that if you do your work properly and with enough determination, you can have a clean income that amounts up to $40, 000 annually.