There is an interesting new site that is taking a different position on the secondary ticket market. While soft launching in January 2008, Fanprice.com officially announced its launch over the Memorial Day weekend.
What is different about them is they are “Fan Focused”. A fan comes to them looking for the seats they want and makes an offer. It is up to the seller to decide whether or not to take it. This is different from Stubhub, Ticketsnow and the other sites in that they are all focused on what the seller will take. This is the concept in reverse.
Their ability to accept volume of tickets from a file is in beta right now. They can also accommodate e-tickets. The e-tickets can be transacted until game time.
When we asked them about their advantage in the marketplace the reply was:
“The advantage is that there is actual cash on the table for your consideration. As you are well aware, you never know for sure how a particular game or event will sell. Game values can change in a moment due to weather predictions, player injuries, etc. Similarly, artists can flood a market with additional shows decreasing ticket values or make a comment in the media that decreases their fan appeal. In the end, however, YOU control whether you accept an offer or not, so if the price isn’t to your liking, you don’t have to accept it. Knowing that you can lock in profit on a set of tickets without exposure to further risk of devaluation will allow sellers to move more inventory faster and increase the opportunity cost of the money they are making. We expect brokers will continue to use both types of sales strategies for their inventory and Fanprice will be another tool in their belt for them to move inventory. “
Fanprice.com is a very different concept and we always consider someone who is different to always have somewhat of an advantage.
They are not revealing yet what the marketing plans are or how they will get eyeballs over to their site. The ticket market is a crowded and expensive place to get eyeballs online. A company needs to be well-funded to make a presence online.
We do like the fact that a place like Fanprice.com does give us another option. The more options we have, the greater the chances of us making a buck and that is what it is all about.
To learn how to make money being a ticket broker, visit www.MyTicketBiz.com.
Wednesday, June 25, 2008
Monday, June 16, 2008
Ticket Scalping – Entrepreneur or Scum of the Earth
What do these have in common – used car salesperson, energy trader for Enron and ticket scalper? The answer is all three are looked down upon by our peers and society.
The used car salesperson has to fight the stereotype that they are always trying to sell someone a lemon. The energy trader was once viewed with respect, but now the secret is out that they did their part to de-rail parts of the economy and stuffed their pockets while everyone else is paying for it. The scalper is the guy who bought the ticket before you and is standing outside the stadium selling it to you for more. The same ticket you were going to buy yourself.
Whether these negative perceptions of the industry represent the reality or not, it brings up an interesting question. When you, as an entrepreneur, are considering a new business opportunity, one of the things you need to consider is how new entrants to the marketplace will affect you. You want barriers to entry to be high so not every person that comes along can start their own business and compete with you. You also want the barriers low enough so you can enter the business with your available capital and time constraints.
Imagine an industry where profits are high, barriers to entry are low, but people do not flood the industry because of preconceived notions against it. Would it be prudent to take a step back and really examine those notions for yourself? Ticket brokering, Ticket Scalping, Ticket Flipping, or whatever term you put on it, is this industry. Lets take a closer look at the components of it.
High Profits – Buying and selling tickets is a high margin endeavor. It is not unheard of to make 20%, 30%, 50% or even 300% return on your investment of certain events. There is always a good market for good seats to popular events. There are tricks to identifying what the popular events are and how to regularly find them. Once employing these tricks, one can continually make money wit limited maintenance.
Low Barriers – If you have a few hundred dollars you can be a broker. Nothing is free and these are about as low of barriers to entry as one can get, regardless of industry.
Preconceived Notions – I have bought and sold many houses. I put my time into finding them, fixing them up and selling them. Each time I do this, I put in a lot of work and capital. I get my return when I sell it. There are a couple of points of view to take on this. The first is that I am being rewarded for taking a risk and putting in my time and money. The second is one could say I am creating a false value and how dare I drive up the value of that house and make the family who eventually buys that house pay for it. I can tell you this, the vast majority of people take the first point of view and see house flipping as a person taking advantage of capitalism.
With real estate, we glorify the house flipper. We even give them cable TV shows. I have never been called a house scalper. Why is that? What exactly is the difference between flipping houses and flipping tickets?
There actually a few differences. Flipping tickets takes less capital, less time, shorter cycles and generates higher returns. Outside of these things, they are essentially the same. Buy low. Sell high.
Risks – No venture is without risk. The last thing you want to do is buy some tickets that you cannot use. The self-discovery can be expensive. It is a good thing there are inexpensive places to teach you insider’s tricks and well as offer presale codes and upcoming event information. Google “insiders guide ticket broker business” and you can find plenty. The break even on these types of material is reached fairly quickly. Avoid one or two bad decisions and you are there.
Entrepreneurs need to keep on the lookout for new ideas that others do not want to pick up or cannot pick up. Many people will always shy aware from becoming a ticket broker because they will just say “ticket scalper” and be done with it. Use this to you advantage. This is an easy industry where many people will just not enter, hence leaving more money to be made by the ones who can expand their horizons a bit.
To learn more about how to make money being a ticket broker, please visit http://www.MyTicketBiz.com
The used car salesperson has to fight the stereotype that they are always trying to sell someone a lemon. The energy trader was once viewed with respect, but now the secret is out that they did their part to de-rail parts of the economy and stuffed their pockets while everyone else is paying for it. The scalper is the guy who bought the ticket before you and is standing outside the stadium selling it to you for more. The same ticket you were going to buy yourself.
Whether these negative perceptions of the industry represent the reality or not, it brings up an interesting question. When you, as an entrepreneur, are considering a new business opportunity, one of the things you need to consider is how new entrants to the marketplace will affect you. You want barriers to entry to be high so not every person that comes along can start their own business and compete with you. You also want the barriers low enough so you can enter the business with your available capital and time constraints.
Imagine an industry where profits are high, barriers to entry are low, but people do not flood the industry because of preconceived notions against it. Would it be prudent to take a step back and really examine those notions for yourself? Ticket brokering, Ticket Scalping, Ticket Flipping, or whatever term you put on it, is this industry. Lets take a closer look at the components of it.
High Profits – Buying and selling tickets is a high margin endeavor. It is not unheard of to make 20%, 30%, 50% or even 300% return on your investment of certain events. There is always a good market for good seats to popular events. There are tricks to identifying what the popular events are and how to regularly find them. Once employing these tricks, one can continually make money wit limited maintenance.
Low Barriers – If you have a few hundred dollars you can be a broker. Nothing is free and these are about as low of barriers to entry as one can get, regardless of industry.
Preconceived Notions – I have bought and sold many houses. I put my time into finding them, fixing them up and selling them. Each time I do this, I put in a lot of work and capital. I get my return when I sell it. There are a couple of points of view to take on this. The first is that I am being rewarded for taking a risk and putting in my time and money. The second is one could say I am creating a false value and how dare I drive up the value of that house and make the family who eventually buys that house pay for it. I can tell you this, the vast majority of people take the first point of view and see house flipping as a person taking advantage of capitalism.
With real estate, we glorify the house flipper. We even give them cable TV shows. I have never been called a house scalper. Why is that? What exactly is the difference between flipping houses and flipping tickets?
There actually a few differences. Flipping tickets takes less capital, less time, shorter cycles and generates higher returns. Outside of these things, they are essentially the same. Buy low. Sell high.
Risks – No venture is without risk. The last thing you want to do is buy some tickets that you cannot use. The self-discovery can be expensive. It is a good thing there are inexpensive places to teach you insider’s tricks and well as offer presale codes and upcoming event information. Google “insiders guide ticket broker business” and you can find plenty. The break even on these types of material is reached fairly quickly. Avoid one or two bad decisions and you are there.
Entrepreneurs need to keep on the lookout for new ideas that others do not want to pick up or cannot pick up. Many people will always shy aware from becoming a ticket broker because they will just say “ticket scalper” and be done with it. Use this to you advantage. This is an easy industry where many people will just not enter, hence leaving more money to be made by the ones who can expand their horizons a bit.
To learn more about how to make money being a ticket broker, please visit http://www.MyTicketBiz.com
Thursday, June 12, 2008
A Tale of Two Cities
It has been quite a while since the Lakers / Celtics have matched up in the NBA Finals. These two teams have not met in the finals for 21 years. Despite the gap, they have had ten prior NBA finals meetings. In the 61 years of the NBA Finals, the Lakers have appeared in 29 of them and the Celtics 20. The Celtics have a much better winning percentage than the Lakers though. They have 16 trophies compared to the Lakers 14. It is amazing to ponder that these two team will combine for half of the NBA crowns.
With a rivalry this good, ticket prices reflect it of course. Courtside has some different values though.
In image-heavy LA, Courtside seats are between $17,000 and $27,000. One can get in a few rows back for about $5,000 per ticket. Average seating on lower levels runs from $1000 to $2500 per ticket.
Over on the east coast, courtside is running from $7,000 to $17,000. Ticket prices around the rest of the stadium are about the same.
NBA Playoffs are quite the bonanza for Ticket Brokers. They have everything we want:
• Multiple Games
• Accessibility
• Excellent Returns
Have a good finals!
To learn how to make money being a ticket broker, visit www.MyTicketBiz.com.
With a rivalry this good, ticket prices reflect it of course. Courtside has some different values though.
In image-heavy LA, Courtside seats are between $17,000 and $27,000. One can get in a few rows back for about $5,000 per ticket. Average seating on lower levels runs from $1000 to $2500 per ticket.
Over on the east coast, courtside is running from $7,000 to $17,000. Ticket prices around the rest of the stadium are about the same.
NBA Playoffs are quite the bonanza for Ticket Brokers. They have everything we want:
• Multiple Games
• Accessibility
• Excellent Returns
Have a good finals!
To learn how to make money being a ticket broker, visit www.MyTicketBiz.com.
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