Jumping into the ticket reselling game might seem tricky, but with some help, anyone can make it a money-making hobby — or a career. This easy-to-follow guide will show you how to get started as a ticket broker and cover the basics you need to know.
Understand the Market
First off, it’s super important to know what makes the ticket reselling market tick. You have to figure out which events are hot and why. Learn when different types of events (concerts, sports, theater) are at their peak & find out what factors affect ticket demand—like location and timing (i.e. time of year or day of the week).
Set Up the Basics
You’ll need a few things to begin:
- Money to invest — $10,000 is a good starting point
- A very strong computer or laptop
- A fast Internet connection
- A basic understanding of technology
- A service to list your tickets. For most newbies, a good place to start if Lysted.com. According to their website, they “help you gain peace of mind by taking care of the complexities of listing and managing your tickets.”
- Bookkeeping Software: Use something like QuickBooks or even a simple spreadsheet to track your earnings and costs.
Learn the Legalities
The rules for ticket reselling change depending on the location of the event. Make sure you know the local laws to stay legit. In New York for example, you are required to let potential buyers know the original face value of the tickets.
Start Small
At first, focus on smaller or less risky events. This way, you can learn how buying and selling works without risking too much cash.
Build Relationships
Networking is super important in this biz. Connecting with other brokers can help you find better deals & access hard-to-get tickets. They can also help you choose which advanced software tools to use.
Conclusion
Starting as a ticket broker needs some planning and early effort. By setting up the right tools, understanding the market, and beginning small, you’ll slowly build a profitable reselling gig. Keep at it—and always keep learning—to succeed in this ever-changing field!