How To Make Money Selling Tickets – Ticket scalping is often a surprisingly effective way to make money, even though it’s not the most ethical. In some states, the practice is even illegal, largely due to mob control.
However, the internet has various possibilities and one of them is the ability to earn money by selling tickets online.
How To Make Money Selling Tickets
This method removes many of the stigmas associated with ticketing and makes the entire process completely legal and legitimate. However, it is still important to check the local laws before starting to avoid any problems later.
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There are several different sites that broker tickets. These sites serve to match buyers and sellers for almost any ticket you can imagine.
It’s easy to see why these websites exist. After all, since tickets are now sold online, some events are in short supply and often sell out instantly.
If you’re not only refreshing your screen every 3 seconds at 7am, you might be missing out! At the same time, some people get tickets to events they simply can’t attend.
One example is a brokerage site called StubHub, one of the most popular options. The site also guarantees tickets, meaning buyers will always receive genuine tickets and not potentially fake ones. I would never recommend getting your ticket from an unknown person on eBay or a “trade” forum.
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There is a fee for this site which is around 15% and you will find something similar on other ticket broker sites. Now, this fee isn’t huge, but it’s something to consider when you’re trying to make money from tickets.
Many times you have to pay ticket fee, handling fee and parking fee when you plan to go there. I once bought a ticket to Monster Jam that was advertised as $60. All told, I paid over $100!
Some people make a fortune selling tickets. For example, you might have bought two tickets, then found out that you had something else on the same day. Selling these tickets on sites like StubHub can result in a significant loss or profit depending on the demand for these tickets.
If you’re just trying to cut your losses, this might not be a big deal. And if the planning problem really pays off, that’s really cool. But how can you consistently make money with tickets?
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This practice is achievable, but it involves work. Be prepared to start thinking about it more like a business than a “side gig” because you will need to spend time doing research!
In particular, you need to determine which tickets will be sold at a profit. Otherwise, you may lose money or simply end up with unsold tickets. Three times a $50 profit can be lost by failing to sell a $100 ticket twice.
A good place to start is with local events, especially those that are rare or popular. Start with what you know and it will make sense many times
An in-town group is a great place to start, or an infrequent speaker. Ideally, you’re looking for events that sell out, as those will be the easiest to sell tickets for. However, good seats are often sold at a premium, even if the event is not sold out at all.
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One way to research this is to pay attention to how quickly tickets sell out and how popular events are. This can give you an idea of which tickets are profitable and which are not.
This practice is especially powerful for groups on a tour, as you can usually use previous stops on a tour to determine how tickets are sold for subsequent stops. In particular, if an event tends to sell out in other areas, there’s a good chance it will be locally as well, leaving room for profit.
The main idea is simple. Research suggests buying tickets and then reselling them through sites like StubHub. Other options include eBay or resale site Ticketmaster.
However, whichever site you choose, be sure to read the terms and conditions carefully. Some venues make it clear that buying and reselling tickets as a business is against their terms. Don’t think you’re smart by buying 20 tickets to a sold-out event and then reselling them.
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In most cases, selling tickets closer to a specific event date is a good way to ensure you get the best prices. However, you should be careful because selling close to the date also reduces the time to trade. This increases the risk of being stuck with unsold tickets.
In theory, you’ll get better at the ongoing process. Thus, it will be easier to determine which events are useful and which are better to ignore.
This applies to any resale. The more time you spend buying and selling, the easier it is to understand the market and what people want.
The process of selling tickets online is very simple, but it is not dangerous. After all, you need to buy tickets first, and this involves some financial investment.
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Meanwhile, you’re still guessing about which tickets will be profitable. Research helps a lot, but you’re bound to make mistakes. That being said, no matter how well you study, you’re bound to make a mistake from time to time.
Also, making more money usually means more risk. For example, you may need to buy more tickets to increase your income or buy more expensive tickets.
Either way, spending more money is a big risk. It’s easy to see how this could backfire and cost you money instead of doing it.
In most cases, selling tickets online will be a way to make money on the site, but not a full-time business approach. First, there are a limited number of events that have enough demand to make an effort to buy and sell tickets.
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You should also be aware of local laws and regulations on sites. For example, you can buy multiple tickets to a particular show and resell them. However, if you start buying dozens of tickets for a particular show, you may run into trouble. This is highly dependent on local laws and is something you should research carefully.
Reselling tickets can be a way to make money, but even if you know exactly which tickets are selling well, it’s very risky. The approach is also one that takes a decent amount of research and time, even if you learn well. Personally, I can’t imagine trying to make a decent profit from ticket sales, and I’d worry about the legal ramifications if you tried.
Instead of reselling tickets, you can act as a “middle man” and advertise tickets from legitimate sources without buying them yourself. This method involves much less risk and is easier to grow over time. How does this work? The idea I’m talking about is something called affiliate marketing.
Using this method, you advertise products belonging to other companies. The goal is to convince people to buy them, and this is often achieved by using reviews and only talking about why specific products are good.
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You can promote anything, including tickets, as an affiliate. Not all ticket portals have affiliate programs (Ticketmaster, Stubhub), but many do (Brown Paper Tickets, Seat Geek)!
The nature of affiliate marketing means that you don’t have to worry about the product personally. So you don’t have to buy and sell anything. Only this dramatically reduces the risk of the process and makes it easier to make money.
You can also promote almost anything through affiliate marketing. For example, you can create a website about a particular hobby, such as beekeeping, or an interest, such as fashion. We’re talking about ticket sales, right? You can promote event ticket affiliate programs!
No matter what topic you choose, you can find people who are interested in it. Since we’re talking about tickets, let’s look at an example:
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You’re a country music fan and start a blog about all your favorite artists. You’ll write articles about who’s on tour, who’s got a new album, and even a few interviews with smaller stars. People come to your website for country music news and information. The next time Chris Stapleton or Florida Georgia Line go to a concert, you can tell people
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