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Becoming a ticket broker can be fun, exciting and profitable. Ticket brokers buy and sell tickets for concerts, plays, sporting events and similar activities to make a profit. Getting started in this line of business isn’t really hard. It just takes a little cash and the ability to pick shows and events that are likely to be in demand. You can start out small, buying just one batch of tickets at a time, and build your business with your profits.
Get Licensing in Your State
Visit your state’s Web site to determine where you should look or call for business licensing information. You can find your state Web site and information about starting a business at IRS.gov.
Find out whether your state requires special licensing for individuals or businesses that plan to operate as ticket brokers. Though most states don't regulate this type of business, there are some that require special licensing in addition to general business licensing.
Choose a business name. Something with the word “tickets” may help to attract customers if you choose to advertise on the Internet, in newspapers or in your local phone directory.
Apply for a general business license in your chosen business name, for the city and state in which you plan to run your business. The application requirements and licensing fees will vary depending on your city and state.
Start Working as a Ticket Broker
Visit a Web site that allows for ticket exchanges. Some of the most well known include eBay, StubHub and TicketNetwork.
Create seller accounts on the Web sites of your choice. Most of these sites charge a small fee for every transaction.
Visit a Web site that sells tickets, such as Ticketmaster.com, and buy a block of tickets that have high market value. Aim for tickets that offer in-demand seating for popular events and artists. You want to focus on tickets that are likely to sell out quickly.
Set your sale prices for the tickets you purchased. A 50 percent profit is considered pretty good, but some tickets may bring in 300 percent or more in profit. You can check sites such as eBay and StubHub to get an idea of the going rates for your tickets.
Post your tickets on any of the ticket broker sites on which you have a seller account.
The best time to go to Ticketmaster is a few minutes before an event is scheduled to go on sale. This way, you can be ready to snatch the best tickets right away. Refresh your browser right before the scheduled time to ensure that you see them as soon as they become available.
Research bands, events and ticket-sale schedules ahead of time, so you can plan when to buy your tickets. Some events have ticket pre-sales that you’ll want to get in on if possible.
If you are selling tickets for a band, recording artist, or comedian, research any previous performances before you buy tickets to resell. Reviews of past performances can give you a good idea of how popular the event will be this time around. You can also check completed sales on eBay to gauge the popularity of previous events.
You can also sell tickets from your own Web site by choosing a Web host and creating a site from which to sell your tickets. If you do not have experience creating a site, there are many Web-hosting companies that provide templates you can use and allowing you to add information as you go.
Jordan Meyers has been a writer for 13 years, specializing in businesses, educational and health topics. Meyers holds a Bachelor of Science in biology from the University of Maryland and once survived writing 500 health product descriptions in just 24 hours.