Sporting events and popular concerts are great opportunities that convert into profits with just a little start-up money by simply selling tickets. Long gone are the days of shadowy ticket touts loitering outside concert venues. The internet has emerged with reputable selling websites to ease the process of buying and selling tickets.
Things to do to convert reselling tickets to huge profits
- Research the market
- Predict the next big event to happen
- Beat the system
- Set your price
- Spread the gospel
This great opportunity has set up a platform where people can make some extra cash. In fact, some do it as a full-time job.
It is a great deal for buyers as well, who know they can’t miss any event because they are getting legitimate tickets available from a reliable source. But it works out the best for that person selling the tickets that they bought from event organisers.
Here’s what you are supposed to do to convert reselling tickets to huge profits.
1. Research the market
Browse and research what tickets are going on sale very soon. Ticketmaster, pre saletoday.com, and google are great places to find out. Scouring through online message boards will land you a ton of event tickets opportunities.
People are pretty lazy about buying and selling online tickets. So matching buyers and sellers will generate a substantial profit.
You, therefore, need to refine your methods, even by taking that risk to buy tickets on speculation and having a list of people looking for such tickets on a regular basis.
For instance, Ticketmaster on-sale is usually available on Friday and Saturdays at 10:00 pm. They allow you to have a password to access pre sale tickets before the general public. And before you make that purchase, you must have researched the market and came up with a list of buyers.
You already know what this means, right! Buying at pre sale prices and selling them later at a higher price is generally making the profit.
To be on the safe side, download different browsers. Note that most sites selling online tickets do not allow more than one transaction simultaneously. Download various browsers, I guess you know them; internet explorer, safari, and Mozilla Firefox just a few to mention. They will guarantee you simultaneous transaction at the same time. You will end up buying enough tickets to resell at a profitable price
2. Predict the next big event to happen
Getting tickets for the major and big event is a hustle since they sell out so quickly. But there is an advantage with this kind of tickets. You are pretty sure that the ticket will guarantee a 100% profit upon resale.
You should, therefore, be in a position to predict the next big event and make the earliest purchase. For instance, a standing ticket to attend Justin Bieber in London was initially 25 Euros. However, the same ticket went up to a price of 1,300 Euros at StubHub. If you had made an early purchase, you are likely to pocket 1,255 Euros profit.
Big events are not the only act that will make you some profit. You should be in a position to pick point every event happening across different entertainments and sports arenas. Predict those smaller acts with the likelihood for their demand to build-up.
The thing here is to predict for those events that will convert to profits. It is straightforward to buy a bunch of tickets, but again, you must choose those that will guarantee the most profit with the least risk involved.
Ticket prices depend solely on the concert popularity and stability. Prices will be determined based on the artists/sportsmen popularity at the time, and history has already shown that popularity can even change overnight.
To be precise, when Chris Brown assaulted Rihanna, it caused a significant drop in his ticket prices on the secondary market in a matter of few minutes. Always look for red flags and unload your tickets in a matter of seconds at the earliest sign of any trouble.
You, therefore, need to always go for those big events with popular and stable artists before investing in their tickets. If we go back to the case of Justin Bieber, whoever was able to predict this was a big event and actually bought the pre sale tickets, he must have been smiling whole day.
3. Beat the system
Buying event tickets especially with a bigger artist is very hectic. You find yourself stuck in queues to order or just waiting for a page refresh online. And this remains the reason why ticket prices hike.
There exist some tricks that you can use to beat the system and land to the tickets you want. Let’s look at them:
Join fun clubs
Being part of a fan club will help you to buy tickets in advance. Members are allowed to purchase the tickets in advance or even invited to low-key live performances.
Enrol for priority sales
Many events go on sale to priority customers before the general public. It’s is usually a sponsorship program. It’s worth looking for such programs and take the advantage.
When the sales day arrives, get yourself many devices. Have a laptop, smartphone, tablets or whatever else you can use to get the access. With them, you can buy multiple tickets.
Follow artists on social media
Following artists on social media is a fantastic idea. You have pre-sale information when they announce for their next events. Be ready to like their pages and follow them on Instagram, Facebook, Twitter and Snapchat
Create accounts on ticket sites
Creating accounts with ticket selling sites with your address and payments details is worth. It speeds up the entire process of buying tickets when they go on sale.
You can use ticketing proxies and rotate them while booking tickets. Although bit of a hassle, you will be surprised how effectively they work while buying tickets.
4. Set your price
You should do much research before you set the price. Look at what other similar events are selling at. And if you have much time to make the sales, aim higher and hope to yield maximum profit.
When listing your tickets, make sure you make the sale. Don’t set your mind to make a particular profit; any profit is worth it. Be a master planner at what price the tickets will sell the most.
Don’t be afraid to have the prices decrease when the event nears to have all your tickets sold. You should also be willing to make occasional loss sometimes as long as you have made some profit.
5. Spread the gospel
You should take selling online ticket as a business. As with most businesses, marketing is used to make their brands known. Spread words on your tickets to increase the chances of someone buying them.
What events should you buy tickets for?
Buying events tickets is an easy task, but which ones will generate maximum profit?
Go for those events that are very much popular. If the event will have a popular artist performing, buy as many tickets as possible. Every audience must be willing to attend that event to see their favourite artist perform.
Events with favourite date and venue
Tickets prices on the secondary market vary depending on when and where the event will occur. Iconic venues will always have reasonable selling prices than any venue. People are also willing to buy those tickets which events are on a holiday or weekends.
Events for audiences with disposable income
You can never make any profit by selling tickets to people with no disposable income. Picture those concerts with likelihood to be attended by middle-aged women and men. This category of people has resources and attends most events.
Events for audiences who don’t plan ahead
Most people don’t plan ahead to purchase tickets because they either have tight daily schedules or aren’t aware of when the tickets go on sale. So, target events for such group of people, you will have a guaranteed sale.
It takes time to learn and glow in this type of business. You can’t learn everything by just reading it. You have to take a step further to learn in and out of buying and selling online tickets.
Pick those events that you have researched and you are familiar with and start with few tickets. With time, you will have an excellent opportunity to buy and sell more. Watch how prices move and keep track of how you keep earning the profit.
Also, don’t forget to create a spreadsheet to keep records of what tickets you purchased and their final selling prices. Enjoy doing this type of business using lime proxies. You cannot make significant money if you don’t have fun while doing it.