Our Side Hustles Breakdown
We recommend selling tickets as a side hustle for those attuned to popular events and market demand. With the right picks, profits can be substantial. Key concern: Ensure to operate within legal parameters, as some regions have strict laws against ticket scalping.
- Legal Concerns: Some areas have laws against ticket reselling.
- Risk: No guarantee of resale or profit.
- Upfront Investment: Need to purchase tickets first.
- High Potential Returns: Popular events can yield high resale values.
- Engaging: Stay connected to popular culture and entertainment.
- Flexible: Choose which events to invest in.
Do you have a knack for scoring tickets to sought-after shows and games? Your talent could be a valuable asset waiting to be unlocked.
Turn that passion into a lucrative side hustle and start earning today by selling tickets! Whether you’re a seasoned pro or an amateur, this guide has everything you need to know to help you thrive in this exciting field!
An Overview of Selling Tickets: A Primer
Selling tickets is a flexible and potentially lucrative side hustle. While reselling concert tickets is common, this exciting gig revolves around ticket resale for different upcoming events.
As a ticket seller, you act as a bridge between eager event-goers and their desired experiences. Here’s what you can expect to do in this side hustle:
- Ticket sourcing: Find tickets at face value for events like sports games, shows, and more.
- Pricing strategy: Set ticket prices based on demand, event popularity, and market trends to maximize your earnings.
- Listing and marketing: Use online platforms to create listings for the tickets you have and market them using different digital marketing strategies to attract potential buyers.
- Transaction management: Handle and track different payment methods and service fees associated with ticket sales.
How Much Can Selling Tickets Earn You?
Flipping tickets can be a profitable side hustle. On average, you can expect a return anywhere from 20% to 80% of the original selling price.
For instance, if you buy a ticket at a face value of $100, you can resell it for $120 or $180. Selling 50 tickets per month can make you earn around $1000-$6400. Full-time ticket flippers can make up to six figures annually!
Of course, the profit depends on several factors, including event type, market demand, and ticket number.
How Much Does It Cost to Start a Side Hustle Selling Tickets?
The start-up costs of selling tickets can vary depending on several factors. Generally, you’ll need a laptop and a strong internet connection. The former usually costs around $2000, while the latter can cost $65-$300 monthly.
Licensing and legal expenses can vary depending on the state. However, you can expect to pay between $50 and several hundred for a business license.
Aside from that, you need some funds to purchase tickets. The budget doesn’t have to be over the top. You can spend a few hundred and then increase it as you expand your business.
Where Can You Sell Tickets?
Many online sites for sellers allow ticket brokers to list their collections for resale and connect with potential buyers.
You can also choose to sell independently if you’re not a fan of the service fees that most event ticketing platforms charge.
Here’s where to sell tickets using each method:
Where to Independently Sell Tickets
You can use several strategies to list your tickets for sale without using dedicated online platforms. These include:
- At the event: Attend a local event and connect with the target audience directly outside the venue. Make sure to check with the local authorities first before using this method.
- Set up a website: Use online website builders, like Shopify, to set up your ticket-selling platform. This approach provides more control over pricing and listings.
- Social media: Leverage your social media profiles to reach potential buyers. Platforms like Facebook and Instagram allow you to create ads to promote your business.
Gig Economy Companies That Help You Sell Tickets
Online marketplaces, like Ticketmaster, are probably the easiest way to list your tickets for sale and guarantee a steady income.
Such platforms typically have a simple listing process and many payment methods. Here are some of the options:
SeatGeek is an excellent platform for those who want to reach a wide audience and sell faster. This user-friendly website allows you to view competitor pricing to set the best price for your tickets and generate higher profits.
- Seller fee/Commission: 10% for each ticket sale
- Payment method: bank account transaction within five business days
Ticketmaster is one of the most reputable ticket resale platforms, with millions of users. This company allows you full pricing flexibility. However, not all tickets are eligible for listing.
- Seller fee/Commission: anywhere from 10% to 50%
- Payment method: bank account transaction within 5-7 business days
StubHub is a ticket resale platform suitable for occasional or experienced sellers. The company promises a free listing, on-time payment, and an easy shipping process.
- Seller fee/Commission: 15% and 12.5% for the seller’s program
- Payment method: bank transfer after the event
4. Vivid Seats
While it may have a lower global reach than Ticketmaster, Vivid Seats is suitable for casual sellers looking for low sale fees. The listing is also free. Plus, you don’t have to worry about security problems since all sellers are verified.
- Seller fee/Commission: 10% of the total sale price
- Payment method: pays via PayPal seven business days after the event
Why You Should Consider Selling Tickets As a Side Hustle
Selling tickets as a side hustle provides many advantages, including:
- Flexibility: Ticket selling allows you to work on your terms. This flexibility is essential for those with busy schedules or other part-time gigs.
- Profit potential: Flipping tickets can be a lucrative business. With the correct pricing strategies and proper market research, you can sell the tickets for 80% more than their original price!
- Event access: Even if you didn’t sell the ticket, you still get compensation. You can enjoy sports games, live performances, and more at discounted rates!
Problems With Selling Tickets
Although ticket resale can be profitable, it comes with its share of challenges. Some of the drawbacks include:
- Legal issues: You need a proper license to avoid legal problems when selling tickets. The process can be time-consuming.
- Market volatility: The resale market can be unpredictable, with ticket prices fluctuating rapidly. That can cause financial losses.
- Competition: Since it can be lucrative, selling tickets is a crowded field, with millions of sellers using ticket-resale platforms. That makes it harder for newcomers to establish themselves.
Frequently Asked Questions
What Website is Best to Sell Tickets On?
Ticketmaster has the largest customer base and offers the quickest resale. However, StubHub might be a better option if you’re looking for seller guarantees and higher profits.
What is the Cheapest Ticket Selling Site?
TicketSwap has one of the lowest seller fees, charging 5% of the total sale price. That said, you can only resell your tickets for 20% more than their original value.