How to Become a Ticket Broker and Have a Successful Online Business
Tickets to concerts, sporting events, and plays are always big business, and with a bit of information you can quickly learn how to become a ticket broker. With some opening cash and a few internet skills you can get up and running with this online business idea and begin selling tickets online, though the traditional offline methods of ticket brokering are just as in demand.
To start, you will want to get yourself a business license (you might also need to have a license specific to ticket brokering, depending on your location) and a snappy business name to get your company up and running. If you’re planning on competing with the very successful online ticket brokers, you will need to create your own website or join one of the established websites that allow ticket sales—eBay, craigslist, and StubHub, to name a few.
Now you will be ready to sell tickets, and this is where your true initial investment comes in. You will have to buy a block of tickets from a seller like Ticketmaster and then list them either on your seller site or in a newspaper or through word-of-mouth. You will want to do your research to see just how much you can mark up your price and still sell your tickets—sometimes you can earn 50 percent in profits and sometimes much more. This first sale will help you learn the ropes of how to be a ticket broker and how to be good at it, and then the sky is the limit for what you can sell and how much you can earn with this business idea. From there, you might even consider hiring brokers to keep track of big ticket events and do your selling for you, while you collect many of the profits.
A day in the life of a ticket broker business owner:
As a ticket broker, you will definitely want to keep your ear to the ground to help you determine which events are coming down the pike and which are sure to be big sellers. So your first order of business for the day will be to check on upcoming events and know when you need to be ready to purchase your block of tickets.
Then you will want to ensure that all of your sold tickets have been paid for and shipped—the better you expedite your ticket shipping, the better your reputation in this business will be. Next you will want to update your seller site or classified listings to keep them fresh and make sure you have no outdated tickets for sale. Finally, if you’re the boss, you will want to make sure the brokers you have working for you are doing these tasks effectively and efficiently, and you will want to keep close track of your business finances.
About Your Customers:
Customers of a ticket broker range from teenagers who want to see the hottest concert to adults looking for tickets to great events with great seats. Your customers know they will pay more for your tickets, but they also expect excellent service and good seats for their events. It’s up to your company to deliver these.
What You Need to Start:
- A business license(s)
- A company name
- A selling site
- Classified listings
- Tickets to sought-after events
- Financial-tracking software
- You can truly keep your own hours and work as often as you like in this business.
- Profits can exceed 300 percent for certain events.
- You can easily train brokers to work for you.
- It can be a very enjoyable business with great perks (you have access to great events)
- Competition in this business can be stiff until you establish a reputation as a solid business.
- You have to lay out the initial ticket purchases until you see your profits from them.