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This post is sponsored by Ticket Flipping. All opinions are my own.
Are you looking for a fun side hustle you can do in your spare time? In the last several years, the general public has become obsessed with side hustles.
It’s a great way to make extra money.
Regardless of what your reason may be:
- Growing your emergency fund
- Building a savings account
- Saving for retirement
- Saving for a large upcoming purchase
- Enjoying more disposable income every month
Side hustles have allowed me to pay off credit card debt, move across state stress-free, pay off my car, and live worry-free in regards to finances because the extra money earned every month helps close any gaps in our family’s income helping us avoid living paycheck to paycheck or enduring “tight” months.
If you don’t want money to keep you up at night any more, get a side hustle!
Side hustles are the new wave and a great side hustle you may not have heard of is, ticket flipping!
Keep reading to learn all about ticket flipping including what it is all about, why you’ll love it, and how much you can earn!
What is Flipping?
Flipping is side hustle that you can do part-time or full-time to make money.
You buy a product at a low price, sell it at a high price, and keep the difference as profit! You can flip a variety of different products:
- Real estate
- Tickets (more on this below)
For example, you might buy a flatware set at a garage sale for $1 and sell it on eBay a week later for $50. So, you just made $49 profit. Now, why were you able to sell for so much higher than your original purchase price?
This could be due to many factors including:
- Inept knowledge on the seller’s part
- Buyer’s desire
Demand is very important here. Because a product with high demand sells faster and for more money than a low demand product. You can also take advantage of the public’s lack of knowledge about products. In the example above, the buyer may not have known that their antique flatware set was worth $50, instead of selling it for a buck!
Lastly, the buyer’s desire plays an important role, regardless of demand or knowledge, if a buyer wants the product, they want it and this could fare in your favor.
How Can You Make Money Flipping?
Most products have value. Where you cash in is when you can get a valuable product at a deal and sell it at or above retail value. It’s easy to do this with antiques or collectibles.
You can also do flipping with digital products that have little to no value initially then, you add value and sell it at a premium.
For example, you could have purchased a one word domain name twenty years ago and sold it this year for six figures. Take a look at this article that shows how one word domain names like Ice.com and California.com sold for $3 Million to $3.5 Million!
Another example is real estate.
You might be a foreclosed property for $100,000, invest $10,000 to make repairs and sell it 3 months later for $200,000, earning a profit of $90,000!
I’ve been flipping off an on for a few years so when I recently learned about ticket flipping, I was immediately intrigued!
What is Ticket Flipping?
Ticket flipping, buying and sell tickets for profit.
Did you know there are thousands of ticket brokers selling tickets online?
Here’s how it works:
Ticket brokers make money by buying tickets to events that will sell out. Once the event sells out, the tickets are easily resold online for a higher price then what you paid, earning you money.
It’s as easy as that.
How to Get Started Ticket Flipping?
To get started as a ticket broker and start making money online, you follow these 3 steps:
1. Go to Ticketmaster.com, and if you know an event will sell out in your city, buy those tickets
2. Then, upload the mobile tickets to Stubhub.com, enter a price for them “price similar to other resellers”
3. Once the tickets sell, you get paid from StubHub
Check out these best practices to help you build a successful business with ticket flipping:
- Aim for buying good tickets (more on this below) so you don’t get stuck with buying tickets that won’t sell well
- Make sure the ticket is sold on both Ticket Master and StubHub, for easy resale
- Look at if there are limited showings, which increase demand
- Look at if there are any specific factors that will influence demand, like holiday, anniversary edition, special day, etc.
- Is the demand for the artist or show, high or low? Is it popular?
- Age limits on tickets? This can impact your sell-through rate
- Venue location and capacity
- Day of the week
Good Tickets Versus Bad Tickets
Good tickets are what the goal is, always. Good tickets mean you sell out of the tickets you bought and bad tickets mean you don’t. What determines good tickets? These factors below!
Tickets on Ticket Master and StubHub
This is crucial. You’ve got to make sure that tickets are available both on Ticket Master and StubHub. This is the key to reselling tickets online.
Limited Showings and Holidays
This controls demand. Limited shows means that demand will rise. The public won’t get lots of opportunities to see the show because there aren’t a lot of shows available. Plus, holidays and special dates could also have a major influence on demand and the ability for your tickets to sell out.
Think about it, will a popular show be more likely or less likely to sell out, compared to an unpopular show?
The popular show has better chances of selling out. So, always aims for these kinds of shows.
If there are age restrictions on tickets, it will encourage slow ticket sales. Not only will you sell less tickets but the percentage of the ticket population aged out, can mean the difference between you selling out, and not!
The size of the venue and capacity play a role in the demand.
Day of the Week
Lastly, the day of the week can influence ticket sales. A weekday show may not be as attainable for the public, compared to a weekend show. The time of day also has an impact here. A day show compared to a night show. Night shows almost always do better (more ticket sales) than day sales.
What you’re trying to determine is the chance that your event will sell out. That’s the overall goal. You want a sold out event, so ticket prices can be driven up, helping you profit off your ticket sales.
Take these best practices into consideration and use it as a checklist to help you make smart decisions when investing in buying tickets.
How Much Can You Make Ticket Flipping?
Several factors can impact how much you make, including, the number of tickets you buy and how much markup you can apply to your tickets.
According to TicketFlipping.com, on average, you want to sell the tickets you purchased for 30% to 50% more then what you paid.
For example, if you bought $1000 in tickets, you want to make back around $1300-$1500, helping you profit by $300 to $500. You may make less, or more, or break even.
Take a look at these examples to illustrate the process.
Good Resale Scenario
- You buy season tickets to a basketball game, that makes it to the next round. Those $6 tickets could now sell for $100+.
- You could have tickets to see Kanye West before his newest album was released and before he became the #1 played song on Spotify for several months. This can take his $50 concert tickets at a small event center and bring that ticket cost to $250.
Bad Resale Scenario
- You buy concern tickets to Billie Eilish concert that’s expected to sell out but, her shows are sold on back to back dates, making the demand go down and not allowing you to sell out of your ticket.
Break Even Resale Scenario
- You buy tickets to a Janet Jackson concern, who usually does very well, but, there are age restrictions for the show allowing only 18+ to buy tickets, weakening demand and your $150 tickets sell at about $150-$170.
Based on these examples, you can see that a number of influencing factors can arise, impacting your sales. For the best case outcome, make sure to follow the best practices checklist above, to improve your chances of having a good resale scenario every time.
Your earnings could range from $100 to $1000+ per day. There are brokers making an extra $1000 per month on the side and other brokers doing upwards of $100,000 per month with staff. So, you can see there’s a huge range of income you can earn, depending on if you’re looking for a side hustle or making ticket reselling your full-time job.
Legal Considerations of Ticket Flipping
Ticket resale laws vary from state to state but, it is legal to resell in all 50 states, if you are reselling online. There are some specific laws that state you cannot resell physical tickets within 500 meters of the venue, but this doesn’t apply to us since we are reselling strictly online. If you have any questions or concerns, look up the specific regulations in your area which should be fairly easy to find. Once you get to 20k in resale volume you should think about forming LLC. Also, of course make sure to pay your taxes on profits taken.
The Perks of Flipping Tickets
As with many online jobs, you have the perks of the job. Here are some awesome benefits of selling tickets online:
- Working from home
- Designing your dream schedule
- Be your own boss, calling all the shot and making the rules
- Buy with your rewards credit card and earn reward points and airline miles
- Unlimited income potential
Work from home, or the comfort of your computer, wherever that may be, your home office, public library, etc. Design your dream your schedule according to your life and choose the times you want to work, to resell tickets. No reporting to boss with this hustle. You’re in charge and make all the rules. And then lastly, unlimited income potential and credit card rewards, which is not a bad bonus!
Gain all these perks and more when you venture into ticket flipping as your side hustle business.
Who Ticket Flipping is For?
Whether you’re looking for a side hustle to make more money or you want to leave your 9 to 5 for a work from home career, ticket flipping may be the solution for you!
Who Would Do Well Flipping Tickets?
This work from home opportunity could extend to a ton of different people interested in working from home:
- Stay-at-home parents
- College students looking for money-making opportunities
- Homebound people that need to work from home
- Professionals looking to make extra money
- Anybody wanting a fun, lucrative work from home job
Although ticket reselling has been around for a while and is one of the easiest ways to make money online, there’s still a lot you can learn to help you transform your income from a few hundred dollars weekly to thousands of dollars month after month.
Want to learn more?
Ticketflipping.com is an awesome resource for people looking to make a side income online reselling tickets.
At Ticketflipping.com you can find a ton of helpful training guides, along with free training videos, to help you get started. Want to get started learning quickly and be on your way to making money right away? Check out their paid course!
Here’s what’s included:
- Advanced ticket reselling training: Learn how to get pre-sale codes to highly demanded tickets, how to broadcast your tickets to 100’s of marketplaces at once so you can resell your tickets faster, and much more.
- Get weekly market predictions: Event recommendations to purchase from Sunday-Thursday about what events you should buy and resell.
- Ticket Analytics tools which display how many tickets are left for any show so you can buy tickets right before they sell out.
- Access to a private members group chat where you can talk to other resellers and experienced ticket brokers
Ready to get started? Click Here to find out more.
What are your thoughts on ticket flipping? Share your comments down below so we can hear from you!