Make Money Reselling Concert Tickets
As an entrepreneur, now is the perfect time to enter the concert ticket reselling business. Having a solid grasp of the basics of making money off concert tickets is essential whether you’re just starting out or trying to grow your business. You can earn a living by reselling concert tickets, and this article will give you brief glimpse as to how to do it.
Gaining Market Insight
Gaining a thorough understanding of the market dynamics is essential prior to delving into ticket resale. The demand for tickets is heavily influenced by factors including the popularity of the artist, the size of the venue, and the timing of the event. If you keep yourself updated on forthcoming tours and record releases, you may find out which shows will be popular and sell well for a profit.
Efficiency in Purchasing Tickets
Getting your hands on tickets before the rest of the general public is the first order of business when reselling them. This usually necessitates taking part in presales. You may join a fan club, participate in a credit card loyalty program, or subscribe to a venue to get access to presale tickets. You may also get tickets at face value before they sell out by keeping an eye on ticket sites as soon as they are available.
Approach to Pricing
The key to successful resale is setting the correct pricing. Think about how near the event is, the location and size of the venue, current prices in your section (and other comparable sections), how close the seats are to the stage, etc. when setting your prices. There are other factors to consider but these are the main ones.
Sell Your Tickets on ALL the Secondary Markets
Popular options include Ticketmaster Resale, StubHub, Vivid Seats, SeatGeek, Gametime, TickPick, and Ticket Network. By using an online application (also called Point-of-Sale or POS) such as SkyBox, you can broadcast your tickets to all the secondary markets thus increasing your chances of getting a sale on each individual set of tickets.
Fulfill Your Orders and Get Paid
Once your tickets have sold, the next step is to fulfill them — in other words, send them to the buyer. Use software such as Automatiq to automatically fulfill ticket purchases.
In Conclusion
If executed properly, reselling concert tickets can be a very profitable business. Building a successful ticket resale company requires knowledge of market trends, skill in finding and pricing tickets, broadcasting your tickets to all the secondary markets, and fulfilling them as quickly as possible in order to get paid.
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