Sales

How to become a ticket broker – How to buy and sell tickets for profit

You may have tried to buy tickets for a sporting or concert event, only to find that the event is sold out within seconds/minutes. The best part is that you can check the inventory on TicketLiquidator and TicketsNow to find hundreds, if certainly thousands, of tickets for much less than their face value. This doesn’t seem fair. But, rather than complaining, we should take advantage of the perfect opportunity to make money. Join them if you don’t think you can beat them. Only difference between you, them, and them is their knowledge.

Part-time or full-time brokering tickets may be an option for you if your are willing to invest some time, research, effort and time. There is no barrier to entry and you can move as fast or slow as you wish. I will help you get started. Although the broker industry is somewhat hidden, the following information should provide a good overview of the essential things you will need to know to become a ticket broker.

Benefits of becoming a ticket broker

* Very Low Start-Up costs.

* Supplement or Replace Your Current Income.

* Learn How to Buy Tickets to Events for the Lowest Possible Cost.

* Spend as Little or As Much Time as You Want With the Business.

THE SECONDARY TICKET MARKET – WHAT IS IT?

Secondary market refers to any ticket sold by another person for an event. A pair of Madonna tickets could be purchased from Ticketmaster on the day they go on sale. Later, I could sell them on Stubhub at a lower price than the actual market value. Stubhub/eBay (backed by TicketNetwork), TicketLiquidator and TicketsNow are the main players in secondary markets. Recently, I read that the event market is worth $10-12 billion. Many people make money in this industry, both primary and second-level resellers. You can even see the guy at the street corner of your local venue getting his share of the pie. But, we don’t care about that guy. We want to make our money at home. It is legal in most states to sell tickets. Many states have written legislation that will remove outdated laws. To ensure compliance, you will need to check with your state/local laws.

KNOWLEDGE IS Power – It’s not what you know, but who you know.

It is not possible to learn how to be a ticket broker on your own. You will need to be supported by others in the broker community. EventExperts is the first place you should visit. EventExperts is a great place to get advice from other ticket brokers. They have an amazing online community. Before you sell your first ticket, I HIGHLY recommend getting to know people in the industry. They offer not only a strong community but also have experts who can make predictions about whether tickets will sell well. You can request predictions for events that you are interested in buying by becoming a member. Many of the experts are long-standing and have lots of valuable information to share. Although there is a monthly fee, I believe it’s worth it for the quality of the information you receive, especially if this is your first time in the business. You can find more information on their site in the article HOW TO BECOME TICKER BROKER.

It is also important to find out when tickets go on sale. Ticketmaster is the largest ticket seller, but they are not the only way you can make money in this business. Many websites aggregate data from different primary sellers to make it easier to find what you want to purchase in a particular day. A lot of these websites offer presale passwords, which will give you an advantage over the average Joe concert goer.

Subscription Sites

* PresalePassword – This is run by the same folks who run EventExperts. Sign up to receive this site and a combo deal.

* ShowsOnSale – This site has some stricter guidelines to be approved for a membership. If you don’t have a track history of selling tickets, then it’s not worth applying. It’s great information! You can find the application on their website.

* OnsaleDate – Free trial is available. Every morning, you can receive an email with all the Ticketmaster sales for that day. It is very basic, but it does its job very well.

* Scourlist – Monthly subscription. This site lists passwords for many of the main sellers, including Ticketmaster and LiveNation, Tickets.com and House of Blues, as well as passwords for many other primary sellers, such as Tickets.com, Tickets.com, Tickets.com and Tickets.com.

No cost onsale/password sites

* WiseGuys – Kind of ugly because of the blog format, but he does a good job at getting information up on the site.

* TicketHorde – Again, the format isn’t the best, but the information is good.

* SlickDeals – This is a message board thread, but it contains lots of good presale passwords.

* LiveDaily – This site is owned by Ticketmaster and does a pretty good job of providing you with latest concert announcements, etc.

* TicketNews – Ticket News is a blog sponsored by Ticket Network that contains articles on upcoming tours and industry news.

WHERE CAN TICKETS BE SOLD?

It should be clear where you won’t sell your tickets. Your tickets will be in every possible market as a broker. You have a better chance of selling tickets if you have more visibility. Professional brokers will list their tickets in all major markets. Ticketsnow.com might have exactly the same tickets as you’ll see on Stubhub. This is quite common. Once they are notified that their tickets have been sold, a broker will remove them from all markets. Perhaps you are wondering, “What if they sell at the same time in two different places?” It is possible but not often. This is what ticket brokers call “double-selling”.

Marketplaces for Sale – Cheap / Free

* Stubhub – Every broker should have an account with Stubhub. They are well-known and get a lot of traffic. Stubhub retains 15% of all sales, so be sure to price your products accordingly.

* eBay – eBay is still a good place to sell tickets, but I would list your tickets as a BUY IT NOW price rather than putting them up for an auction. You almost always make more using BUYIT NOW.

* Craigslist – In the ticket broker world Craigslist is generally a good place to unload tickets for last minute events. Your primary market will be too busy for you to spend time with customers looking for deals.

* TicketsNow – Ticketsnow recently changed their business model to allow individuals to sell tickets on their site. This website is very visible, especially because Ticketmaster directs you to it for all sold-out events.

Point of Sale System

As your business grows, and you build a significant inventory, it is worth joining one of the largest ticket brokers. Your tickets will be available for sale on the exchanges. Point of Sale software will let you manage your inventory and credit cards.

* TicketNetwork – For about $2500/year you will have your own ticket website, a point of sale system, and access to millions of dollars in inventory.

* EventInventory – Until you have an established history, and know someone that can refer you into Event Inventory, you will probably be declined to use their Point of Sale system.

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We are a team of professionals with each having two decades of experience in start-ups, sales, marketing, finance, HR, large scale project and profit centre management and running mature cross functional operations. At Molw.net we are big believers that knowledge transfer is critical to our industry’s evolution. We love to share our experiences and learnings through our online resources.

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