If you are wondering how to make money flipping tickets, this article is for you, so keep reading.
Earning extra income online may seem daunting and a little intimidating at first, but it’s actually much simpler than you think.
People who make hundreds to thousands of dollars a month online aren’t that different from any of us.
I started my young adult life flipping cars.
It was something I really loved and after putting in a lot of effort and time, I was able to earn a decent amount of money to cover most of my expenses.
Another thing that I ventured to do a few years ago was buying stuff at the garage sales that I found around my city and then selling them on sites like Craigslist and Facebook Marketplace.
Preferably, I bought them in bulk and then sold them separately.
Garage sales are great ways to find items in good condition at low prices.
When people organize a garage sale, whether in their homes or offices, they are mainly trying to get rid of things they no longer need.
You know, people move quite often to new houses or offices, or go into some kind of remodeling project, and to avoid the idea of throwing away everything they don’t need, they simply put it up for sale at a very attractive price.
That’s a win-win situation.
Sellers help the planet by giving those items a new owner while putting some money in their pockets at the same time.
And buyers get the items they need at a cheaper price.
These two flipping businesses allowed me to learn different skills in the area of sales and customer service.
Making extra money online, or a supplemental income, starts with deciding on a specific business idea and sticking with it.
There are several ways to make money online and in this article you can find some of them.
In this post I am going to refer to the world of events.
But I’m not going to talk about the artists or athletes who play or perform in these beautiful places that many of us like to go to, no, I want to show you how to make money flipping tickets online.
Why Flipping Tickets Online?
Most ticket brokers, including myself, started selling tickets when we were unable to attend a show and sold the tickets for more than they cost us.
That was my case a few years ago, when I bought a couple of tickets to go to a “Backstreet Boys” concert. I was a super fan of theirs back then.
Well, 3 days before the event, an unforeseen event arose that made it impossible for me to attend.
At that moment I had 2 options, either lose the tickets or give them to a family member or friend for the same price.
Of course I opted for the second option, but at that time none of them could or wanted to go to the concert.
It was when I found that I had the possibility of selling those tickets online, and to my surprise at that moment they already cost much more than when I had bought them.
So I did it and not only did I get my money back, but I made a profit of $240.
Wasn’t that amazing?
At that moment I realized that there was a great potential in reselling tickets as additional income or why not, to create a lucrative business and make a living from it.
How to Make Money Flipping Tickets
Flipping tickets is no different from flipping anything.
The idea is to buy something (usually at a very low price) and then re-sell it in order to make a profit.
Unlike a regular flipping business model, like the ones I mentioned above, there will be no physical interaction with people or products.
In this case, ticket resellers make money by purchasing tickets to any event (concert, game, etc.) and reselling them later for more.
Ticket brokering is similar to any other flipping side income business.
Many people resell on eBay, Craigslist, Amazon, social media platforms, etc., but the main advantage of ticket flipping is that you can buy tickets from home and sell them from home, all is done online.
Here’s a simple breakdown of how online ticket reselling works:
- Buy Tickets on primary marketplaces like Ticket Master.
- Upload those PDF Tickets to secondary marketplaces like Stubhub.
- Sell them for a higher price than you paid.
That’s it, only 3 basic steps.
I know, now you’ll say, if that’s so easy, why aren’t the majority making millions doing that?
A quick answer would be, because not everyone has the patience to learn all the secrets to finding winning tickets.
Additionally, to resell tickets and make good profits, you need to have the right tools and information that will show you exactly how popular any event is.
To make money flipping tickets online is simply understanding supply and demand.
Do you want a SHORTCUT?
One of the smartest decisions you can make for your business is to find a MENTOR.
Mentors can:
- reduce your learning time by large margins
- save you from costly mistakes
- help you learn many secrets and tricks before you have to commit
Neil Patel once said: Mentoring simply means a relationship between you (the mentee) and a more experienced person (mentor) that benefits your growth.
You can receive tutoring directly from people and also through online courses and communities.
All of them in one way or another will accelerate your learning process.
I took that path by watching some videos on YouTube and reading some articles on the Internet.
But when I really learned more about how to make money flipping tickets online was when I joined the Ticket Flipping training community.
They have mastered the art of flipping tickets online for years, and if you choose them as your mentor, you will benefit from all of that.
You’ll have access to a variety of valuable free materials, courses and videos, and a community of others where you can share your thoughts, ask questions, etc.
They also offer a paid membership that includes exclusive guides and training videos for ticket brokers.
Members also receive daily event recommendations on tickets they can purchase.
One of the things I love and they also have is access to some tools and browser extensions that make your life easier when buying and selling tickets.
How do I know if an event will sell out?
To make money reselling tickets for profit, you have to PREDICT which shows will sell out and go up in price.
In order to predict which shows will sell out you need to know a few things:
- How big is the performance venue?
- Is it a weekend or a weekday?
- How popular is the artist or team currently?
- How much do the tickets cost?
- Are tickets too expensive to start with?
Those are just some of the factors that must be considered when buying tickets you are trying to resell.
You can find the answers by doing your own research.
Yes, I said you can make money flipping tickets, but I didn’t say it will be easy, you have to put in some work and time.
Ticket Flipping will help you speed up the search and analysis process, I really recommend it.
How profitable is Flipping Tickets Online?
The average profit margin for concert ticket resellers is around 10-20% per ticket.
Not bad, isn’t it?
And if we take this business model seriously, we can increase these margins to very attractive figures.
There is a downside here too!
You can lose money, because keep in mind that when you buy tickets, you must sell them before the event date.
Another factor you have to consider is the fact that you will need good capital just to get started.
Some businesses like affiliate marketing require almost no money to get started, but that’s not the case with ticket flipping.
Many people start flipping tickets online with the intention of buying a couple of tickets and making a considerable profit.
It doesn’t work that way with tickets and it doesn’t work that way with many other products either.
Conclusion – Make Money Flipping Tickets
If you want to make money flipping tickets online, I recommend researching the market and identifying events that are likely to have a high demand for tickets.
You should check to see if there are any state or local laws restricting the resale of tickets.
Regarding your operating capital, I recommend starting with little money ($500 should be enough).
Then, based on the knowledge you acquire along the way, you can increase that capital to obtain more benefits.
Remember to operate your business with integrity and honesty. That should be rule number one for all business owners.
Now tell me, besides flipping cars, houses or tickets, what other similar business model have you used before?
Please use the comments section below and share them with the community.
As always, if you want to stay informed about topics like this, don’t forget to subscribe to our newsletter.
This is a great post, it helped me a lot to understand some aspects of the ticket flipping business.
Thanks
Hello Charles, I’m very happy to hear that our content was helpful to you. Are you already in this world of ticket resale? or are you considering entering?