Being a ticket broker is simply a person or business that buys tickets to entertainment events and resells them for a profit. Some ticket brokers operate their business from a brick-and-mortar location. Others create their own website and sell tickets online. Then there are those who sell online as a third party merchant on various websites. Very large ticket brokers use all three methods to sell their tickets.
Being a ticket broker is a very profitable business. There are some things that someone must know though to succeed as a ticket broker. Although money can be made, there is always a chance that money can be lost if somebody does not do their research on events before buying tickets.
Before starting anything, you will want to make sure you are conducting business legally. You will want to find out if your state requires licensing. Although most states do not regulate this type of business, it is best to find out. Choosing a name for your ticket broker business is also very important. You will want a name that people will remember. Get a general business license and register this name as your DBA. The fee that you pay for a ge
neral business license will vary depending on your location. If you are going to have your own website, you will want a domain name that matches your DBA.
An investment is needed in order for someone to start ticket broker business. The initial investment will vary depending on what somebody can afford. Very large ticket brokers invest hundreds of thousands of dollars on buying tickets. Most people, especially those just starting out, will not have that much money to invest. Instead, they will start out with a few thousand dollars and use the profits they earn to build their business.
Before buying tickets from Ticketmaster, you will have to do some research and make sure that you are buying tickets that will be in high demand. Preferably, these are events that will sell out within minutes after the tickets go on sale. Getting high demand seats is also very important, as these tickets will sell for you quickly. When the tickets go on sale for your event, you will have to be ready to buy the tickets minutes before they go on sale. There are huge profits to be made as a ticket broker. Remember though, research on events is mandatory.