Reselling event tickets is a legitimate trade. You have the option of making it a full-time job or an add-on scheme to increase your income. This is also an ideal alternative to traditional jobs that ex-felons are looking for – at least it doesn’t require a background check. However, always check out the laws where you live and where you resell these tickets to avoid unnecessary trouble. Furthermore, reselling tickets online is a challenging business that you need to know well to succeed.
Buying and Selling Concert Tickets for Profit
Yes, there is money to be made in reselling event tickets online. But before you are successful at this, and before you raking in the kind of money you think makes it worth your while, there are a few things you need to do first.
First of all, commit to it. Secondly, research all the time – which tickets are most likely to sell, how many other places are selling the same tickets, etc. Make some investment in technology. You will be buying and selling online, and you need the right technology to help you do both.
Steps To Reselling Concert Tickets Online
1. Buy Your Tickets
Visit forums, Facebook fanpages, secret groups, or marketplaces where you can find tickets for events to sell. There are places like that on the internet where you can find good deals, though not easy. One of the great marketplace commonly used by resellers is TicketMaster. This website provides almost everything you need to start this business.
2. Upload The PDF Of These Tickets To Marketplaces
Numerous sites are listing the pros and cons of both sites. Look these up and make an informed choice. Note: never sell your tickets on both platforms simultaneously. You do not want to get caught double selling a ticket, it could lead to you having to pay back one party at the very least, but it can also lead to you getting banned. One of the best and most commonly used places for beginners as well as veterans is StubHub.
3. Sell The Tickets You Purchased At A Higher Price Than What You Paid
The profit you make through resale is your income. Sounds ridiculously simple? It isn’t! There is good money (not easy money) to be made through ticket resale. Read the tips below to help you sell efficiently.
Things To Keep In Mind While Reselling Concert Tickets
When should you buy and resell tickets? The rule of thumb is to buy and sell before the general sale starts. Once the ticket-sale opens to the public, demand crashes. You make a maximum profit if your tickets sell before the general on-sale, especially true if you are not sure how well the tickets will sell. Only in the case of popular artists (one or more performing together, therefore high resale value) do you also buy during the general on-sale.
2. Do Not Buy And Sell For Events That Have More Than One Show
The greater the number of event-shows, the higher the chances that everyone can buy their tickets directly. In which case, resale values drop, and there is no chance for you to make a profit or sometimes even recover the money you spent.
3. Multiple Sale Options
Avoid buying if many places are selling the same tickets at the same price. Again, if tickets are easy to come by, their value drops.
4. Provide Multiple Options
Sell tickets for seats in different price brackets. Also, try to offer seat options. Which section, which row are indicators of what price you will get for your tickets. One interesting fact is that people are less likely to buy the end rows of a section. They will prefer to buy the front rows of the next section.
5. Use The Right Event Marketing Software
Remember, you are selling online, and having the best available marketing software to facilitate buying and selling is the best investment.
6. Early Bird Registration
Offer deals for people to register to buy on your site. This option is a great incentive to those already committed to buying, and a lure for those still undecided. Tiered ticket pricing works well on customers.
7. Social Media
Use social media for advertising your sales. Optimize the SEO content of your messaging. Have a dynamic event calendar on all your social media pages
8. Season Tickets
This works best for game tickets. Simply put, buy season tickets but sell individual games tickets. According to your season ticket, the price for each game will average out. However, some games are more popular than others, so the ticket’s market value will be far higher than the price printed on the ticket. If you learn how to work this to your advantage, you can net a tidy profit, and maybe even a free season ticket for yourself.
Ticket Brokering And Scalping Tickets – What’s The Difference?
Finally, here is something to consider before you get into the whole business of ticket reselling. Do you want to be a ticket broker engaged in a legal trade or a ticket scalper? Both do the same thing. The crucial differences are in terms of how, when, and where.
How: Ticket brokers hold a ticket broker license (making it legal), earn a steady income, pay taxes, and promise authentic tickets or a refund.
When: Ticket brokers sell tickets well ahead of the event. It could range from days to months. On the other hand, ticket scalpers try and cash in on short term demand. This could be the day of the show or even just minutes.
Where: Brokers sell from their office and communicate with the buyer in many different ways. Scalpers sell outside the event venue, and there is no contact post-sale.
We hope this article provides insight into making money online by selling tickets legally. If you are someone looking for additional income, or a felony who is having trouble finding a job, this business may be a good option for you. We wish you the very best with your efforts!