A ticket broker makes money by the buying and re-selling of tickets for concerts and other events. The ticket brokerage business is based on the concept of supply and demand. The supply of event tickets is significantly small due to the fact that events and shows play only on several dates and the seats on the venues are limited as well. By buying tickets in bulk, the ticket broker can have significant control over the supply of tickets and as a result, ticket brokers can charge ten times the value of the ticket or more. Since the tickets have already been purchased by ticket brokers, people that really want to watch the show will have to buy the marked up tickets from ticket brokers that re-sell them.
You do not need any special training or particular education to become a ticket broker, unlike those who want to sell clothing or shoes. In fact, I operated a Tow Truck before getting started. To be effective in this business, you need to establish a wide network of contacts in order to be able to buy tickets at bulk prices. There are some areas or regions of certain countries where the trade of tickets is regulated. For these areas or regions, a license may be required to become a qualified ticket broker.
Since experience is the best teacher, you may want to work in a ticket brokerage company first to learn about the details and essential points of the industry. After gaining the experience, you can put up your own ticket brokerage firm. Your knowledge about the industry and your relationship with the people working on the venues of shows are critical to the success of your own ticket brokerage firm. In time, your small ticket brokerage firm will grow and you may need to hire assistants to help you in the buying and re-selling of tickets. As you gain some substantial reputation as a reliable re-seller of tickets, your customer base will eventually grow. Later on, you can expand the range or kind of events that you may wish to cover in your growing ticket brokerage business.
To become successful in the business of ticket brokerage, joining a professional organization of ticket brokers would be very helpful. Membership in these organizations is not a requirement to be able to operate your own ticket brokerage firm. However, these organizations will be very helpful in providing connections to a wide range of prospective clients. Some ticket buyers might want to check the websites of these professional organizations to check if you are on the list of recognized ticket brokers of that organization. These organizations can also offer access to important conferences, trade journals, and business connections that a ticket broker may find very useful for his or her ticket brokerage business. As the quote goes, you never know until you try!
Post written by Ray James, inventor of www.youtube.com/watch?v=J-XrmuTU0UQ.