Online ticket brokers buy blocks of tickets in advance of popular events. Through websites and internet marketing, ticket sellers attract customers who pay a premium for event tickets. With sufficient capital and technical expertise, anyone can start a ticket selling business online.
Join an association of ticket brokers to gain access to exclusive resources that such organizations offer to their members. While many states have a state association of ticket brokers, the largest associations are the National Association of Ticket Brokers, and United States Ticket Brokers Association in the U.S., and the Canadian Ticket Brokers Association, in Canada.
By joining either of these associations, a new ticket broker gains access to a broker information database that provides contact information for local ticket brokers in every state. If you're unable to sell your tickets online, you'll be able to contact these local brokers directly, to arrange for last minute, on-site sale for your tickets.
Open a credit card processing account through your bank, or an account through an online payment processor such as PayPal. You need a method of accepting credit card payments to sell tickets online.
Note that it may take up to six weeks to be approved for a merchant services account. Begin the application process in advance to prevent costly delays.
Purchase or build a website for your business. A professional website development company is the easiest option, but tech-savvy owners will be able to build their own ticket selling website. Ensure your website allows customers to make payments with a credit card through your chosen processing method.
Acquire tickets to popular events. You can purchase tickets directly from a primary provider such as Ticketmaster or Livenation, or you can buy tickets from individuals who can no longer attend the event. Craigslist or Ebay are good sources for tickets from individual sellers.
Allow customers to purchase your ticket inventory through your website. The wider your selection of tickets for a specific event, the more likely you'll achieve success in your ticket selling business.
Purchase advertising to attract customers to your website. Google Adsense can be a cost effective pay-per-click option to target customers searching for tickets for a specific event.
Detailed knowledge of concerts and new artists is extremely important. You should learn to anticipate which events will have sellout crowds, in order to plan your ticket purchases far in advance.
Don't invest in too many tickets for a single event. Many factors, such as cancellation, date changes, or bad weather could affect the demand for any single event. Your business may suffer greatly if you're heavily invested in a specific artist or venue.
Based in Boston, Nolan Kido has been writing professionally since 2006. He holds a master's degree in accounting and worked in the real estate and banking industries prior to his current career. Kido has contributed to three personal finance books and specializes in writing about taxes and investments.