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
Monday, June 16, 2008
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.
Wednesday, May 28, 2008
NCAA Lawsuit
Ticketmaster and the NCAA were served this past week with a class action lawsuit. The suit claims the two parties conspired to force ticket purchasers to pay a non-refundable fee for the chance to buy tickets to the NCAA basketball tournament. The suit called the collaboration an illegal lottery.
The way it works is that you send in your money for the tickets and a $10 service fee. If you get selected, Tickermaster keeps all the money. If you do not they send back the amount for the face value of the tickets, hence keeping the service fee.
We have many thoughts on this:
Why not just up the service fee on the tickets purchased to cover the “service” expense and avoid the whole mess?
It is closer to a ponzi scheme rather than a lottery. Ponzi schemes would come under the same scrutiny.
If we could come up with our own lottery, we would. Good money in that.
Why is anyone getting so worked up about $10?
We can answer the last one. We have said this before. People believe they have an inalienable right to purchase tickets to an event. This is why the “scalping moniker” stays with the ticket brokering business. As long as this moniker exist, people will choose not to come into this easy money business and keep the door open for us.
http://www.hbsslaw.com/NCAA
http://www.sportsline.com/collegebasketball/story/10838073
http://www.insideindianabusiness.com/newsitem.asp?ID=29523
http://www.wibw.com/sports/headlines/19196554.html
To learn how to make money being a ticket broker, visit www.MyTicketBiz.com.
The way it works is that you send in your money for the tickets and a $10 service fee. If you get selected, Tickermaster keeps all the money. If you do not they send back the amount for the face value of the tickets, hence keeping the service fee.
We have many thoughts on this:
Why not just up the service fee on the tickets purchased to cover the “service” expense and avoid the whole mess?
It is closer to a ponzi scheme rather than a lottery. Ponzi schemes would come under the same scrutiny.
If we could come up with our own lottery, we would. Good money in that.
Why is anyone getting so worked up about $10?
We can answer the last one. We have said this before. People believe they have an inalienable right to purchase tickets to an event. This is why the “scalping moniker” stays with the ticket brokering business. As long as this moniker exist, people will choose not to come into this easy money business and keep the door open for us.
http://www.hbsslaw.com/NCAA
http://www.sportsline.com/collegebasketball/story/10838073
http://www.insideindianabusiness.com/newsitem.asp?ID=29523
http://www.wibw.com/sports/headlines/19196554.html
To learn how to make money being a ticket broker, visit www.MyTicketBiz.com.
Wednesday, May 21, 2008
All politics are local
The players
• Salvatore F. DiMasi – Massachusetts Speaker of the House
• Richard D. Vitale – friend of DiMasi, newly registered Massachusetts lobbyist
• William F. Galvin – Massachusetts Secretary of the Commonwealth
• Massachusetts Association of Ticket Brokers (MATB) – people like us, but they all do this full time
MATB paid Vitale $60,000 in 2007 to work as a lobbyist. Vitale said he was a “strategist” not a “lobbyist”. In 2006, Vitale loaned DiMasi $250,000 at a very low rate for DiMasi’s condo. DiMasi could not have taken the loan if Vitale were a lobbyist.
In 2007 Vitale and DiMasi pushed through legislation that would deregulate the ticket industry. The bill has not passed the state senate yet. Galvin is investigating exactly who did what.
If one were to research the Vitale / DiMasi relationship, it would not take long to realize there was some back-scratching going on. It just happens to surface with the Ticket Broker Bill being at the forefront.
Bills like this are becoming more and more commonplace. They will continue to do so. The occasional Hannah Montana parent explosion and corrupted politician only slow the progress but do not stop it.
http://www.boston.com/news/local/articles/2008/05/17/ticket_brokers_paid_vitale_60000
To learn how to make money being a ticket broker, visit www.MyTicketBiz.com.
• Salvatore F. DiMasi – Massachusetts Speaker of the House
• Richard D. Vitale – friend of DiMasi, newly registered Massachusetts lobbyist
• William F. Galvin – Massachusetts Secretary of the Commonwealth
• Massachusetts Association of Ticket Brokers (MATB) – people like us, but they all do this full time
MATB paid Vitale $60,000 in 2007 to work as a lobbyist. Vitale said he was a “strategist” not a “lobbyist”. In 2006, Vitale loaned DiMasi $250,000 at a very low rate for DiMasi’s condo. DiMasi could not have taken the loan if Vitale were a lobbyist.
In 2007 Vitale and DiMasi pushed through legislation that would deregulate the ticket industry. The bill has not passed the state senate yet. Galvin is investigating exactly who did what.
If one were to research the Vitale / DiMasi relationship, it would not take long to realize there was some back-scratching going on. It just happens to surface with the Ticket Broker Bill being at the forefront.
Bills like this are becoming more and more commonplace. They will continue to do so. The occasional Hannah Montana parent explosion and corrupted politician only slow the progress but do not stop it.
http://www.boston.com/news/local/articles/2008/05/17/ticket_brokers_paid_vitale_60000
To learn how to make money being a ticket broker, visit www.MyTicketBiz.com.
Wednesday, May 14, 2008
It’s the Economy
Times are tough. Oil is $126 a barrel. Gas is closing in on $4.00 a gallon. Bread prices are up 25%. Eggs prices are up 50%.
While we are not economist, it seems pretty obvious that we are in a recession. We never actually know that we are in one until after it is over. A recession is defined as two consecutive quarters with a decline of GDP. Since figures for any given quarter do not come out until months after the quarter is done, we do not know we are in a recession until it is over.
Quarterly reports aside, there is no argument that times are tough. Here is one that goes against the grain. MLB officials say attendance is 2.6 percent ahead of record-breaking figures from last season. There does seem to be some evidence that spending habits are changing a bit when it some to how they spend money getting to the game and once they are at the game. MLB does not publish beer sales so it is hard to really determine that number.
One does not have to look far to hear stories about how people are tightening their belts. We are in the middle of the concert and baseball seasons. Out own ticket sales are brisk for each. This only makes us more excited when the economy rebounds a bit.
http://sports.yahoo.com/mlb/news?slug=jo-mlbandrecession043008&prov=yhoo&type=lgns
http://sportsline.com/columns/story/10786518
http://www.chron.com/disp/story.mpl/headline/sports/5770530.html
To learn how to make money being a ticket broker, visit www.MyTicketBiz.com.
While we are not economist, it seems pretty obvious that we are in a recession. We never actually know that we are in one until after it is over. A recession is defined as two consecutive quarters with a decline of GDP. Since figures for any given quarter do not come out until months after the quarter is done, we do not know we are in a recession until it is over.
Quarterly reports aside, there is no argument that times are tough. Here is one that goes against the grain. MLB officials say attendance is 2.6 percent ahead of record-breaking figures from last season. There does seem to be some evidence that spending habits are changing a bit when it some to how they spend money getting to the game and once they are at the game. MLB does not publish beer sales so it is hard to really determine that number.
One does not have to look far to hear stories about how people are tightening their belts. We are in the middle of the concert and baseball seasons. Out own ticket sales are brisk for each. This only makes us more excited when the economy rebounds a bit.
http://sports.yahoo.com/mlb/news?slug=jo-mlbandrecession043008&prov=yhoo&type=lgns
http://sportsline.com/columns/story/10786518
http://www.chron.com/disp/story.mpl/headline/sports/5770530.html
To learn how to make money being a ticket broker, visit www.MyTicketBiz.com.
Wednesday, April 30, 2008
TicketMaster again…
Some time back Ticketmaster set out to buy TicketsNow for $265M. This led to concern for ticket brokers. They feared that Ticketmaster, the originator of many tickets, would now directly affect the inventory available on the secondary ticket market. More directly, ticket brokers fear that Ticketmaster will not sell all the good seats and release them to the public via TicketsNow. Ticketmaster could essentially cut Ticket Brokers out of many of the high revenue events and listings. There have been many complaints filed by Ticket Brokers to the US Justice Department with claims of Ticketmaster monopolizing the secondary ticket market.
Ticketmaster has been quiet on exactly what it will, or will not, do.
The National Association of Ticket Brokers has recently sent a letter to Ticketmaster asking them to publicly declare their intentions and business practices as it pertains to the relationship between Ticketmaster and TicketsNow.
We fully expect Ticketmaster to push the envelope as far as they can to control the secondary ticket market. Why wouldn't they? Are they there to ensure the livelihood of Ticket Brokers or to make more money for themselves? As they push the envelope, except a lot more newsletters about the impending lawsuits.
Developing…
To learn how to make money being a ticket broker, visit www.MyTicketBiz.com.
Ticketmaster has been quiet on exactly what it will, or will not, do.
The National Association of Ticket Brokers has recently sent a letter to Ticketmaster asking them to publicly declare their intentions and business practices as it pertains to the relationship between Ticketmaster and TicketsNow.
We fully expect Ticketmaster to push the envelope as far as they can to control the secondary ticket market. Why wouldn't they? Are they there to ensure the livelihood of Ticket Brokers or to make more money for themselves? As they push the envelope, except a lot more newsletters about the impending lawsuits.
Developing…
To learn how to make money being a ticket broker, visit www.MyTicketBiz.com.
Wednesday, April 23, 2008
This is American Idol
We think David Cook is going to win. That means put your money on someone else. Regardless, we now look forward to the American Idol concert series. This has become a welcome addition to the summer concert tour. Each of the last couple of years this event has enjoyed very brisk concert ticket sales. Here is the rundown for the Venues. Sales start on some of the venues in mid May.
July 1 Glendale, AZ jobing.com Arena
July 2 San Diego, CA San Diego Sports Arena
July 3 Fresno, CA SaveMart Center
July 5 Las Vegas, NV Thomas & Mack Center
July 7 Los Angeles, CA Staples Center
July 8 San Jose, CA HP Pavilion at San Jose
July 9 Sacramento, CA ARCO Arena
July 11 Portland, OR Rose Garden
July 12 Tacoma, WA Tacoma Dome
July 14 West Valley City, UT The "E" Center
July 18 St. Louis, MO Scottrade Center
July 19 Rosemont, IL Allstate Arena
July 20 Columbus, OH Schottenstein Center
July 22 Indianapolis, IN Conseco Fieldhouse
July 23 Cincinnati, OH US Bank Arena
July 24 Detroit, MI Joe Louis Arena
July 26 Toronto, ON Air Canada Centre
July 27 Rochester, NY BlueCross Arena
July 29 Pittsburgh, PA Mellon Arena
July 30 Newark, NJ Prudential Center
August 2 Atlantic City, NJ Boardwalk Hall
August 4 Long Island, NY Nassau Coliseum
August 6 Albany, NY Times Union Center
August 8 Hartford, CT XL Center
August 9 Worcester, MA DCU Center
August 10 Manchester, NH Verizon Wireless Center
August 12 Baltimore, MD 1st Mariner Arena
August 13 Philadelphia, PA Wachovia Center
August 14 Washington DC Verizon Center
August 16 Lexington, KY Rupp Arena
August 17 Charlotte, NC Charlotte Bobcats Arena
August 18 Duluth, GA Arena at Gwinnett Center
August 20 Sunrise, FL BankAtlantic Center
August 21 Tampa, FL St Pete Times Forum
August 24 Houston, TX Toyota Center
August 25 Dallas, TX American Airlines Center
August 26 Bossier City, LA CenturyTel Center
August 28 Oklahoma City, OK Ford Center
August 29 Kansas City, MO Sprint Center
August 31 Minneapolis, MN Target Center
September 2 Green Bay, WI Resch Center
September 3 Grand Rapids, MI Van Andel Arena
September 4 Cleveland, OH Wolstein Center
September 6 Bridgeport, CT Arena at Harbor Yard
September 7 Providence, RI Dunkin Donuts Center
September 8 Wilkes Barre, PA Wachovia Arena
September 10 Ft. Wayne, IN Allen County Memorial Coliseum
September 11 Evansville, IN Roberts Stadium
September 13 Tulsa, OK BOK Center
To learn how to make money being a ticket broker, visit www.MyTicketBiz.com.
July 1 Glendale, AZ jobing.com Arena
July 2 San Diego, CA San Diego Sports Arena
July 3 Fresno, CA SaveMart Center
July 5 Las Vegas, NV Thomas & Mack Center
July 7 Los Angeles, CA Staples Center
July 8 San Jose, CA HP Pavilion at San Jose
July 9 Sacramento, CA ARCO Arena
July 11 Portland, OR Rose Garden
July 12 Tacoma, WA Tacoma Dome
July 14 West Valley City, UT The "E" Center
July 18 St. Louis, MO Scottrade Center
July 19 Rosemont, IL Allstate Arena
July 20 Columbus, OH Schottenstein Center
July 22 Indianapolis, IN Conseco Fieldhouse
July 23 Cincinnati, OH US Bank Arena
July 24 Detroit, MI Joe Louis Arena
July 26 Toronto, ON Air Canada Centre
July 27 Rochester, NY BlueCross Arena
July 29 Pittsburgh, PA Mellon Arena
July 30 Newark, NJ Prudential Center
August 2 Atlantic City, NJ Boardwalk Hall
August 4 Long Island, NY Nassau Coliseum
August 6 Albany, NY Times Union Center
August 8 Hartford, CT XL Center
August 9 Worcester, MA DCU Center
August 10 Manchester, NH Verizon Wireless Center
August 12 Baltimore, MD 1st Mariner Arena
August 13 Philadelphia, PA Wachovia Center
August 14 Washington DC Verizon Center
August 16 Lexington, KY Rupp Arena
August 17 Charlotte, NC Charlotte Bobcats Arena
August 18 Duluth, GA Arena at Gwinnett Center
August 20 Sunrise, FL BankAtlantic Center
August 21 Tampa, FL St Pete Times Forum
August 24 Houston, TX Toyota Center
August 25 Dallas, TX American Airlines Center
August 26 Bossier City, LA CenturyTel Center
August 28 Oklahoma City, OK Ford Center
August 29 Kansas City, MO Sprint Center
August 31 Minneapolis, MN Target Center
September 2 Green Bay, WI Resch Center
September 3 Grand Rapids, MI Van Andel Arena
September 4 Cleveland, OH Wolstein Center
September 6 Bridgeport, CT Arena at Harbor Yard
September 7 Providence, RI Dunkin Donuts Center
September 8 Wilkes Barre, PA Wachovia Arena
September 10 Ft. Wayne, IN Allen County Memorial Coliseum
September 11 Evansville, IN Roberts Stadium
September 13 Tulsa, OK BOK Center
To learn how to make money being a ticket broker, visit www.MyTicketBiz.com.
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