Becoming a Ticket Broker or a ticket reseller is a lucrative business that is currently sky-rocketing in popularity. As the amount of money spent on live entertainment grows in America, so do the potential profits avialible to ticket sellers. In this article you’ll learn the basics of becoming a ticket broker from scratch.
To become a ticket broker, there are several routes you can take. The most important steps will be to learn and understand how buying and reselling tickets works and which tools, marketplaces, and platforms will give you the best chance at success.
You can start by researching popular events and venues in your area. Look for events that are likely to sell out quickly, such as concerts featuring popular artists, major sporting events, and theater productions. Check the seating capacity of the venue and consider the demand for tickets in different sections.
Having access to the Ticketflipping FLARE dashboard will also make it easy to spot highly demanded concert, sports, and comedy event by utilizing the simple sellout score.
Acquire tickets from various sources. There are several ways to get tickets to resell, including purchasing them directly from the venue or event organizer, purchasing them from third-party ticket sellers, or using online ticket marketplaces like StubHub or SeatGeek. Be sure to compare prices and fees from different sources to ensure you are getting the best deal.
Determine the price you will sell the tickets for. To determine the price you will sell the tickets for, consider the face value of the ticket, the demand for the event, and any fees you may incur when reselling the ticket. You should aim to sell the tickets for a higher price than what you paid for them, but be sure to remain competitive with other sellers.
Choose a platform to sell your tickets. There are several options for selling tickets online, including ticket marketplaces like StubHub, SeatGeek, Vividseats, TickPick and even social media platforms like Facebook and Instagram. Consider the fees associated with each platform and choose one that is most suitable for your needs.
The best was to sell your tickets is by using a POS or Point of Sale Platform. A POS platform like Lysted can help you sell your ticket faster by:
- Distributing your tickets to ALL ticket resale marketplaces at once.
- Quickly remove a sold listing from other marketplaces to avoid double sales.
- Getting paid in 1-2 weeks as opposed to after the event. (This is very important component to reselling profitably and avoiding having your cash flow locked into one event for too long.
- Track your profits, sale, and other important information to help you make better buying and selling decisions in the future.
Market your tickets effectively. To increase the chances of selling your tickets, be sure to promote them through various channels, including social media, email, and word of mouth. Include details about the event, the location, and the price in your marketing efforts.
Most of the marketing will be DONE-FOR-YOU by the resale marketplace and the artist promoting their own event. All you really need to do is buy highly demanded tickets and list them for sale.
You can also use social media to your advantage. Utilizing social media platforms like Facebook, Instagram, and Twitter can be an effective way to reach potential buyers. Consider creating a dedicated social media account for your ticket reselling business and regularly posting updates about the tickets you have available. You can also use social media to connect with other ticket resellers and stay up-to-date on industry trends.
Use email marketing to reach potential buyers. Building an email list of potential buyers can be a valuable asset in your ticket reselling business. Consider offering a newsletter or email alerts to subscribers about new ticket listings or special deals. You can also use email marketing to promote tickets to past customers.
Consider partnering with other ticket resellers. Partnering with other ticket resellers can help you acquire a larger inventory of tickets to sell. You can also team up with other resellers to split the costs of purchasing tickets and to share marketing efforts. Just be sure to carefully vet any potential partners to ensure they are reputable and reliable.
Be prepared for ticket fraud. Unfortunately, ticket fraud is a common occurrence in the live event ticket industry. To protect yourself and your customers, be sure to verify the authenticity of any tickets you purchase and only use reputable sources. You should also be prepared to issue refunds or exchanges if a customer is unable to use a fraudulent ticket.
We avoid potentially fraudelent tickets by buying and selling only mobile transfer tickets which are verified and secured through ticketmaster.
By following these tips, you can successfully resell live event tickets for profit. Remember to be honest and transparent in your dealings and to comply with any laws or regulations governing the resale of tickets in your area. Good luck!
At Ticketflipping, we provide new and experience ticket sellers with the tools and resources you need to succesfully resell tickets consistently.
Our community membership gives you access to varies training, tools, and even professional event recommedations on which events to buy.
For those looking for how to become a ticket broker, the time has never been better as the resources and tools needed to resell profitably every week are availible for a very marginal cost.
If you are interested in becoming a ticket broker, select an option below to learn more about the ticket brokering industry or jump right in with one of our premium instant access memberships, where we walk you step by step through all the steps you should take.