Many people who want to get started in the ticket industry have one big goal — to make money online.
The one problem that may lead them to their goal? They’re in need of money.
THE OVERALL #1 WAY TO MAKE MONEY IN THE TICKET INDUSTRY IS TO BUY TICKETS TO SHOWS THAT WILL SELL OUT, AND THEN RAISING PRICES ONCE THAT HAPPENS.
That’s why the saying “It takes money to make money” (I recommend an $80-120 range for 1st purchase) is true in the industry… But I’ll also say “Not so fast!”
I do believe you can start with $0.00, as the title suggests. There’s 4 ways I suggest you can do this, listed below in order of “easiest to hardest”.
1. Get a Discover Card
Okay, so this one certainly isn’t for everyone…. (skip ahead if not for you) but it is one of the easiest ways to get started.
If you don’t have a Discover Card yet and you’re eligible for one – you can get $50 back after your first purchase (Email me at Brian@ticketvictory.com for the link to this offer).
That $50 can be used to either make a “Free” first purchase, although I usually recommend first purchases be in the $80-120 range, you could either make a smaller purchase OR go ahead with something in the $80 range where you’d only see $30 on your first statement.
That being said, if you’re planning on going down this path – it’s recommended you have enough to cover the rest of the balance — if you start paying interest, that’s going to cut into your ticket profits, big time.
In this situation, you would be buying tickets from Ticketmaster, looking for a show to sell out and being able to raise your selling price once that happens.
2. Raise It OR Save It
Again, keeping with simple methods…. you don’t necessarily have to make a ticket purchase this week to have plans to get into the industry.
As I mentioned in Part 1, I usually recommend individuals be comfortable with a first purchase in the $80-120 range. I’ve made successful buys with less than $5, but that’s not usually available.
That being said, some tips to coming up with some money:
- Sell some stuff! Yard sale, Craigslist, eBay, Amazon, un-used gift cards.. etc.
- Save up – take some extra money from your paycheck or work a few extra hours
- Extra part-time stuff — cutting lawns, tutoring, baby-sitting.. etc.
The link below has some pretty good ideas (and some bad ones to avoid to) … it’s better to use as a springboard, not to find “something new”
In this situation, you would be looking to save up so that you could buy tickets from Ticketmaster, looking for a show to sell out and being able to raise your selling price once that happens.
3. Ticketmaster 4-packs & Deals
First, I want to show you a few prices showing various websites around the Internet for a Rascal Flatts concert (Taken in Summer 2015 — these deals have continued into the future as well)
Price #1 is from a “4-Pack” through Ticketmaster: $30.75 each
Price #2 is regular pricing through Ticketmaster: $40.25 each
Price #3 is Stubhub prices (for Buyers): $36.00 each
Here’s where your warning comes about this being a PRE-SELLING method. Rascal Flatts isn’t going to be a show that’s in huge demand, so it’s rather dangerous to buy any number of these tickets as “straight” inventory — it might be hard to sell them.
HOWEVER — you CAN sell them before you own them (as long as you’re checking Ticketmaster regularly & making sure that they’re available), giving you the proof you need that you won’t be stuck with them.
Okay, so how this would work… you could advertise 2/4 tickets for sale, or even say “Up to 8, Will sell Multiples of 2” which is actually my preference.
If you put these tickets up for sale at $35 each, you’d still be beating Stubhub pricing, and for a quantity like 2 or 6, you’re giving someone the best deal they can possibly find anywhere!
It’s also possible that you may need to find 2 buyers of 2… if that’s the case, tell the first buyer just to hold on and wait because you don’t want to split up your set into 2 and 6, or 2 and 2… however you advertised it.
Buy 4 pack for $30.75 each: (-$123)
Sell 4 tickets for $35 each: + $135.64 (Paypal fees included)
BUT — You’ll notice that Ticketmaster advertises this 4 pack by saying “4-Pack + Concert Cash”
The current promotion that Ticketmaster has running is to give you one $15 code per ticket that you can redeem on a future purchase.
Once you have the codes in your possession, you can do a bit more of pre-selling to squeeze more profit out of your first transaction
Make sure to buy each ticket as it’s own separate transaction, using a $15 coupon each time.
The price of the show is $42.25 for lawns, so you can sell the tickets you “have” for $40 each:
Buy 1 ticket for $42.25 – $15 = (-$27.25)
Sell 1 ticket for $40 = +$38.74 (Paypal fees included)
Profit (4 tickets) = $45.96
So if you were to profit off of the Rascal Flatts tickets AND pre-sell a concert with individual $15 codes, you’re looking at $58.60 in profit for something that you took NO risk on… you can wait until you have the balance in your Paypal account to even make the Ticketmaster transactions on your end as long as you’re sure that the tickets are still available from Ticketmaster.
This can be a little bit more of a time-consuming method, but that’s the trade-off involved for not having to risk anything upfront.
You’ll want to watch your Ticket Limits so that you’re good on the Ticketmaster side of things, but overall this is an excellent way to get involved in Summer even though most concerts are already sold-out.
As you use this technique, you’ll find that you’ll need to adjust the prices around, but this is a great way to help some customers get a small discount on a purchase, and as you build loyalty and customers who know you as a person that sells tickets, you’ll be able to use this technique more frequently.
4. Marking Up Seat Geek / Stubhub Offers
This one is a little bit more tricky because Seat Geek and Stubhub prices can change at any time.
To use this method effectively, it’ll be best to find an event that is significantly cheaper on one site or the other.(Traditionally, more people check Stubhub, so it’d be best if Seat Geek is cheaper).
Okay, so to do this effectively, you’ll need to find a situation like this:
Prices represent “Cheapest Full View” seats:
Ticketmaster – Sold Out
Stubhub – $140 ea
Seat Geek – $115 ea
These types of discrepancies aren’t extremely common with these sites, but in this fictional situation, you could advertise the tickets listed on SeatGeek somewhere else like on Craigslist at a price of $130 or $135 as tickets that you own.
This requires you being extremely vigilant to make sure that the tickets you’re referring to are still available and priced the same way.
You’ll also need to make sure that tickets will be delivered to you quickly upon purchase (Instant Download) so that you can get them delivered to your customer.
This is also our one method where it can feel like you’re not bringing any “value” to the customer – however if they don’t want to or are unable to look across many sites to find the best deals, I could argue that there is still some value there.