How to Start a Ticket Reselling Business and Make $20,000 Monthly

Today, I have another unique side hustle business idea for you to dive into. 

As always, I share only the most unique and profitable ways to start and grow your side hustles.

Today, I want to introduce you to a high-demand niche that can transform your side hustle into a six to seven-figure income: 

Reselling Events Tickets.

Yes, reselling event tickets is a highly profitable venture.

For instance, if you love attending NHL playoff games, you know how high the ticket prices can get. 

By purchasing extra tickets and selling them at a higher price, you can use the profits to attend the games at a reduced cost.

You can sell these tickets on platforms like Craigslist, Kijiji (a Canadian selling platform), or StubHub. 

These platforms allow buyers to purchase tickets without knowing the seller's identity.

If you still have a day job, don’t resign just yet. 

Start making consistent money first. 

However, with dedication, honesty, and passion, you can achieve six to seven-figure earnings.

Let me show you the tips to start a ticket reselling business and make $20,000 monthly.

Ready to earn? Let's dive in!

Understanding the Ticket Reselling Market

The ticket reselling market thrives on the principle of supply and demand.

Events such as concerts, sports games, and theater shows often sell out quickly, leaving many fans willing to pay premium prices for tickets they missed out on.

1. Look for the Right Events

This is your first step towards achieving a six-figure income. 

Start by identifying and focusing on high-demand events in your local area with limited ticket availability. 

These can be concerts, sporting events, or theater shows. 

It’s important to remember that you may face setbacks, but don't lose hope.

As a ticket broker, you’ll use a point-of-sale (POS) system with an application programming interface (API) to list tickets on multiple platforms simultaneously.

This POS system, which can be accessed for free, will allow you to manage your inventory and automatically list tickets on selling platforms like StubHub via the API.

The best platform for purchasing tickets is TickPick due to its competitive pricing.

If tickets are about to expire or go unsold before events, you should reduce the prices. 

However, there’s a limit to how low you can go before it’s better to let the tickets remain unsold.

2. Price Your Tickets Strategically

To outperform competitors, adopt a strategic pricing approach rather than simply offering the lowest prices. 

Avoid underpricing your tickets. 

When an event or artist has a high search volume, a strong social media following, or is scheduled to perform in a major city or popular venue, set higher prices to maximize profit. 

Aim for a profit margin between 30% and 40%.

3. Avoid Price Negotiation on Online Marketplaces

Refrain from engaging in price negotiations on online marketplaces, as it can significantly reduce your profit margin and hinder your goal of achieving a six-figure income. 

However, if an individual buyer contacts you directly, consider offering a fair price slightly below market value and allow limited negotiation. 

Generally, maintain firm pricing to ensure profitability.

Wrapping Up

That’s all for today! 

You've learned how to profit from ticket reselling. 

Dedicate 20 to 40 hours a week to your resale business to accelerate growth, potentially allowing you to leave your day job and focus on it full-time. 

Give it a try and share your feedback or comments in the section below.