Reselling Broadway Tickets

Do you have a passion for Broadway shows and a few extra tickets lying around? If that’s the case, then you may have a golden opportunity on your hands.

Reselling Broadway tickets can be an incredibly lucrative side hustle. With the right tools and information, you stand to make a nice profit.

If that sounds interesting to you, you’ve come to the right place. In this article, we’ll walk you through everything you need to know about turning Broadway tickets into a side hustle.  

An Overview of Reselling Broadway Tickets: A Primer

Broadway shows offer some of the world’s most exciting theater performances. That’s why people from all over the globe rush to New York every year.

Because of high demand, theatergoers need to book their tickets months in advance. Plus, they may have to invest a small fortune to secure the best seats.

That’s why it can be exceptionally disheartening when they find out they can’t go.

Although, it doesn’t have to be a total loss. While you may have to miss the show, you can still put your tickets to good use.

To ensure they don’t go to waste, you may consider starting a resale business.

How Much Can Reselling Broadway Tickets Earn You?

According to Straits Research, the secondary tickets market was worth over $2.6 million in 2022. This figure is constantly increasing, with an expected value of $5.9 million in 2023.

That means there’s a massive demand for secondhand tickets. This is especially true when it comes to Broadway shows.

These theater performances are incredibly popular. So, people from all over the world are willing to pay top dollar to get their hands on tickets.

Although, how much they’re willing to invest will depend on the show. Some musical tickets are constantly in high demand.

Here are a few examples of popular Broadway shows:

• Hamilton
• The Lion King
• Wicked
• Hadestown
• Moulin Rouge!
• Sweeney Todd

How Much Does it Cost to Start a Side Hustle Reselling Broadway Tickets?

There are a few expenses that you need to keep in mind when starting a Broadway ticket resale business.

For starters, you need to take the original cost of the tickets into account. Ideally, it’s best to scour the internet for discounted tickets that you can resell for a higher price.

To help you with that, you can use official ticket sellers like:

• TodayTix
• TKTS
• BroadwayBox
• BroadwayADay

Other than that, you should consider licensing. Most of the time, you don’t need a permit to resell Boadway tickets.

Although, the regulations can change depending on the state you live in. So, it’s a good idea to check the federal guidelines of your area.

Finally, if you use a gig economy website to sell the tickets, you’ll need to pay them a percentage of the profits.

Where Can You Resell Broadway Tickets?

Reselling concert tickets can be a little tricky. That’s because there are many details you need to take into account.

For example, you’ll have to figure out where to sell the tickets.

Where to Independently Resell Broadway Tickets?

If you want to sell the Broadway tickets independently, there are a couple of options.

Right off the bat, you can choose to resell the tickets to your friends and family. That way, you won’t have to worry about profit sharing or shipping costs.

However, this method comes with several drawbacks. First up, you’ll only have a small pool of buyers.

So, if none of your relatives are interested, it’ll be tough to move the tickets.

Plus, when selling the tickets to loved ones, they may ask for a family discount. This can significantly cut into your profits.

Moving on, you can choose to launch an online website. If you don’t know how to do that on your own, there are many businesses that can help.

A few examples of that are Wix, Weebly, and Squarespace.

Gig Economy Companies That Help With Reselling Broadway Tickets

Setting up an online store can take a lot of time and effort. So, if you’d rather skip the hassle, you can sell your tickets with the help of a gig economy company.

That’s a business that’ll connect you with buyers for a percentage of the profits you make.

For example, many people opt for reselling on eBay. Using the platform, you can list your Broadway tickets and price them however you like.

Plus, you can even choose the auction option, which should help maximize your profits.

However, finding buyers on eBay may take months. This can be a problem if the tickets are about to expire.

In that case, you may want to go with a platform that specializes in ticket resale.

Here are a few examples:

• Vivid Seats
• StubHub
• Ticketmaster

Why You Should Consider Reselling Broadway Tickets As a Side Hustle?

There are countless benefits to putting unused Broadway tickets up for sale. In this section, we’ll cover some of the major benefits.

• No Start-Up Cost: If you already purchased the tickets, then you won’t need to invest any more money to launch the venture.
• Flexible Hours: With this type of business, you can set your own schedule and work whenever you like.
• Low Effort Operation: Other than checking your listings every few hours, you won’t have to do much to keep the business running.

Problems With Reselling Broadway Tickets

While the business can be lucrative, it comes with its fair share of issues. In this section, we’ll cover the major drawbacks of the venture.

• Limited Time: Since all tickets come with a set date, you only have a limited time to sell them.
• Fluctuating Prices: The retail price of a Broadway ticket can change from one day to the next. So, you won’t be able to calculate your earning potential easily.
• Loss of Value: While most Broadway tickets appreciate in value, some will drop overnight. That means you may not get a profitable return on value with all of your merchandise.

Frequently Asked Questions