A Good Day

While not every day is like this, we enjoy when it happens.

One theme you repeatedly hear from us in the book and this subscription is that you must list your tickets early. There are several reasons for this:

• Less competition - Most tickets are not listed till the last few weeks before the event.
• Higher prices - People are willing to pay more for the guarantee they get the seats they want.
• Hype – with every event, whether it is a concert or sporting event, there is a lot of early hype. People responding to the hype are likely to pay higher prices.
• Cash Flow – Money in your pocket today is better than money in your pocket tomorrow.

Back to our good day. Just with MLB, we sold 54 tickets that day. This was across 14 transactions. Our cost of goods sold was $1874 and our revenue (minus service fees) was $3287. This was a profit of $1413. That is a return of 75% return on those goods.

While this is a good volume of ticket for a whole day, this day actually brought our return for MLB for pre-season sales. Our early sales are running about a 90% profit margin so far.

Now we are not going to keep these types of returns all season long. Included in our sales are many opening day tickets, Saturday games, interleague games and other big events. These always get higher prices. There are going to be some Tuesday games against the Devil Rays or the Pirates that are going to go unsold. There are going to be many games that we take a loss or break even. The more we sell early and the better returns we get, we offset those less profitable events. When it is all said and done we expect to realize a profit margin of 25% – 30%.

Not everything is a home run. We need to put ourselves into a position of realizing the maximum returns where we can and minimize the losses in other places. In the end the higher returns win.

To learn how to make money being a ticket broker, visit www.MyTicketBiz.com