A ticket broker, negatively termed as a scalper, is a type of job or business that buys and sells ticket events. They differ from ticket promoters or event organizers in a sense that they are not the primary source of the tickets. Ticket brokering is a second market for tickets for different kind of events such as concerts and sporting events.
As explained on TheTicketsGuide Blog, ticket brokering is legal. The federal law does not prohibit the practice of ticket brokerage. Laws and permits are required depending on your location. Laws that are enforced for brokers vary from different states and municipalities. So if you planning to start up a career or a business in the ticketing field, it is recommended to educate yourself with the laws of your state or municipality.
Ticket brokering is legal but risky because it is basically a form of marketing. It is an aggressive market. In order for you to be a successful ticket broker you have to be blood thirsty.
Understanding the Concept of Ticket Brokerage
People have different perceptions about the business. Most see it negatively as something that is illegal and unethical. Other see it as a good service that helps people, not unlike selling nutritional products or something like argan oil. However, if you are an open-minded business person willing to take huge risks of loosing so much or earning a lot from it, the odds of you making a profit out of the business is quite high.
Like any other type of business, entering the ticket brokerage world is a risk. You just have to have a good eye for the basic law of supply and demand. This type of business is all about making the perfect deal that favors both parties; however, the risk lies on making those deals with your customers.
To be successful, you have to have the knowledge in marketing, research, and advertising. You need to be hard-working, have a supply of money (credit cards and savings) and a network, and most important of all you need to be patient.
How do you start?
- Join and be affiliated with associations. The National Association of Ticket Brokers gears you up to help you with your business and career. By joining associations, you will be able to create a network, giving you the opportunity to learn more about the business.
- Ticket brokerage is marketing so it is important that you know your niche and market. Brokers are educated on the business so they have the knowledge of what sells and what does not. Ever heard of gsm voice encryption? A few years ago it was nonexistent and now it’s selling everywhere. Learn to read markets.
- Learn the laws related to ticket brokerage. Get your license. Laws vary depending on your state, so it is essential to educate yourself with the laws and regulations. If you plan to sell tickets in other states, know their laws as well.
- Start with a business name and create your website. Learn different online strategies and take advantage of different trends in online marketing. Make your service available online. Create a system.
- Buy and resell tickets. This is where you take the risk. Know what sells. Learn what other brokers are doing. Be observant of the market and apply your ticket brokerage knowledge to pricing and sales.