What do they have in common – a used car salesman, an energy trader for Enron and scalp tickets? The answer to this – all three look down on our peers and society.
The seller of used cars has to fight with the stereotype that they always try to sell someone a lemon. The energy trader was once considered respectful, but now the secret is that they have done their part to rip off part of the economy and stuff their pockets, while everyone else is paying for it. The buyer is the guy who bought the ticket in front of you and stands at the stadium, selling it to you for more. The same ticket that you were going to buy yourself. In this article we are diving into how to scalp tickets.
Whether these negative representations of the industry reflect reality or not, an interesting question arises. When you, as an entrepreneur, are considering new opportunities for business, you need to consider how you will be affected by new market participants. You want entry barriers to be high, so not every person that comes can start their own business and compete with you. You also want the obstacles to be low enough so that you can enter a business with available capital and limited time.
Imagine an industry where profits are high, barriers to entry are low, but people do not flood the industry because of preconceived notions about it. Would it be sensible to take a step back and study these concepts for ourselves? Ticketing, ticket scalping, ticket flipping or any other term that you put on them is an industry. Let’s take a closer look at its components.
High profit – buying and selling tickets is a high margin. It’s not unheard of to return 20%, 30%, 50% or even 300% of your investment in certain events. There is always a good market for good places for popular events. There are tricks to determine what are popular events and how to regularly find them. After using these tricks, you can constantly make money with limited maintenance.
Low barriers – If you have several hundred dollars, you can become a broker. Nothing is free, and it’s about the same number of barriers to entry as you can get, regardless of the industry.
Preconceived notions. I bought and sold many houses. I took the time to find them, fix them and sell them. Every time I do this, I invest a lot of work and capital. I return when I sell it. There are a couple of points of view for this. First, I am rewarded for the fact that I risk and invest in my time and money. Secondly, it can be said that I create a false value and how I dare to raise the value of this house and make the family that eventually buys this house pays for it. I can tell you that the overwhelming majority of people take the first point of view and see that the house is being turned around as a person enjoying the advantages of capitalism.
With real estate, we glorify the house-flipper. We even give them a TV show. I was never called a speculator at home. Why is this? What exactly is the difference between coups and overturning tickets?
There are several differences. Flipping tickets takes less capital, less time, shorter cycles and provides higher returns. Outside of these things they are essentially the same. Buy low. Sell high.
Risks – no enterprise risks. The last thing you want to do is buy tickets that you can not use. Self-knowledge can be costly. It’s good that there are inexpensive places to teach you tricks of insiders, as well as pre-sale codes and information about upcoming events. Google “insiders guide ticket broker business,” and you can find a lot. Achieving break-even on these types of materials is achieved quite quickly. Avoid one or two bad decisions, and you are there.
Entrepreneurs need to constantly monitor new ideas that others do not want to take or can not pick up. Many people will always be embarrassed to become a ticket broker because they just say “ticketed” and finish with him. Use this to your advantage. This is an easy industry where many people simply will not enter, therefore, leaving more money to be able to make those who can slightly expand their horizons.