Have you ever tried to buy tickets to a concert or sporting event only to find that the event sold out in seconds / minutes? The real catch is that if you were to check inventory on Stubhub, TicketsNow, or TicketLiquidator, you would find hundreds, if not thousands, of tickets available at prices much higher than face value. It sure doesn’t seem fair, but instead of crying and complaining, we should seize the perfect opportunity to earn some money. If you can’t beat them, join them! The only difference between you and them is that they know you don’t.
If you’re willing to put in some time, research, and effort, becoming a full-time or part-time ticket broker may be for you. The barrier to entry is minimal and you can start as slow or fast as you like. I will provide you with the resources you need to get started. The broker industry is a bit of a secret society, but the information below should give you a very good foundation on the things you need to know to become a full-time or part-time ticket broker.
Benefits of becoming a ticket broker
* Very low start-up costs.
* Supplement or replace your current income.
* Learn how to buy event tickets at the lowest possible cost.
* Spend as much time as you like in business.
THE SECONDARY TICKET MARKET – WHAT IS IT?
The secondary market is created when any ticket to an event is sold by someone other than the main seller. For example, you could go and buy a couple of Madonna tickets on Ticketmaster the morning they go on sale and then sell them on Stubhub for a price that is more in line with actual market value. The top 3 players in the secondary market are Stubhub / eBay, TicketLiquidator (backed by Ticket Network) and TicketsNow (now owned by Ticketmaster.com). I recently read that the event industry is a $ 10 to $ 12 billion dollar industry. There are many people who make money in the industry, including primary and secondary resellers. Hell, even the guy who works on the corner of your local is getting his share of the pie. However, we are not interested in that guy. We want to earn money from the comfort of our homes. I should also point out that selling tickets is not illegal in most states. In fact, many states have written laws to eliminate these archaic laws. You will need to check state / local laws to make sure you are following them.
KNOWLEDGE IS POWER – IT’S NOT WHAT YOU KNOW, BUT WHO YOU KNOW
You will not learn to become a ticket broker on your own. You will need the support of other members of the running community. The first place you’ll want to visit and explore is EventExperts. You will want to learn about the ticket broker business from other people who are already in business. They have a great online community and I highly recommend surrounding yourself with people who know what they are talking about before buying and selling your first tickets. Not only do they offer a strong community, but they also have ‘experts’ who make predictions on whether or not a ticket will be a big sale. As a member of your community, you will have access to request predictions for your own events that you are considering purchasing. Many of the experts have been there for years and have a wealth of information to share. There is a minimal monthly subscription fee, but I think it is a very small price to pay for the information you will receive, especially if you are new to the business. There is a great article on their site called HOW TO BECOME A TICKET BROKER that you should read if you want to learn more about the site.
You’ll also want to know when events will go on sale. Ticketmaster is the top ticket seller, but it is certainly not the only way to make money in this business. There are several websites that aggregate sales data from the different top sellers and make it much easier to determine what you would like to buy on any given day. Many of them also offer pre-sale passwords that will generally give you an edge over the average concert goer.
Subscription sites
* PresalePassword: run by the same people who run EventExperts. By registering, you will have the option to purchase a combo package that will include this site.
* ShowsOnSale – This site has some strict guidelines to get approved as a member. If you don’t have a ticket sales history yet, I don’t think it’s worth applying as well. However, the information is excellent! The application can be found on their site.
* OnsaleDate – Free trial available. Daily emails showing all Ticketmaster sales for that day can be set to email every morning. The site is minimal but does its job well.
* Scourlist – Monthly subscription. This site has listings / passwords for many of the top sellers, including Ticketmaster, LiveNation, Tickets.com, House of Blues, and many more.
Free Onsale / Password Sites
* WiseGuys – Kind of ugly due to the blog format, but does a good job of getting information on the site.
TicketHorde: once again, the format is not the best, but the information is good.
* SlickDeals – This is a message board theme, but it contains a lot of good presale passwords.
* LiveDaily – This site is owned by Ticketmaster and does a good job of providing you with the latest concert announcements etc.
* TicketNews – Ticket News is a blog sponsored by Ticket Network that contains articles on upcoming tours and industry news.
WHERE DO I SELL MY TICKETS?
The question should be where do you NOT sell your tickets. As a broker, you will want your entries in every market that you can. The more visibility your tickets have, the better your chances of selling them. Most professional brokers have their tickets listed in all the major markets. You may see the exact same tickets on Stubhub that you will see on Ticketsnow.com. This is very common. A broker will remove his tickets in all markets once he receives notice that they have been sold. You might be wondering, “What if they are sold in two places at the same time?” This is possible, but it does not happen often. In the ticket broker business, this is known as “double selling.”
Cheap / free markets
* Stubhub: All runners must have an account with Stubhub. They have become a household name and generate a lot of traffic. Stubhub takes 15% of every sale, so be sure to price accordingly.
* eBay: eBay is still a good place to sell tickets, but I would include the tickets as a BUY NOW price rather than putting them up for auction. You will almost always get more money with BUY NOW.
* Craigslist: In the world of ticket brokers, Craigslist is generally a good place to download tickets for last minute events. The amount of time you will spend going back and forth with a client looking for a deal will prove too time consuming for your business as a primary market.
TicketsNow: Ticketsnow recently changed their business model to allow people to sell tickets on their site. This website has a lot of visibility, especially as Ticketmaster links you directly to it for most sold-out events.
Point of sale system
When your business starts to grow and you have a substantial inventory, it will be beneficial to join one of the major players in the ticket broker industry. You will be allowed to post tickets on the exchanges and your tickets will then be broadcast to hundreds of websites. You will also have the benefit of a Point of Sale system that will allow you to take credit cards and manage your sales / inventory.
TicketNetwork: For approximately $ 2,500 a 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 track record and meet someone who can refer you to event inventory, you will likely be denied use of their point of sale system.