How Much Do Ticket Brokers Make?
by Nicole Koerfgen
- How Ticket Brokers Make Money: 3 Essentials
- 1. Strategic Buy and Sell
- 2. Market Analysis: Timing & Sales Strategy
- 3. Networking
- Comparison with Other Freelance Jobs
- More Commonly Asked Questions
- Are ticket brokers legal in the US?
- Where can you offer your tickets with the lowest fees?
Thumbnail: Photo by Jason Leung on Unsplash
Have you already thought about entering the world of ticket brokers but don't know how to achieve lucrative prices? We will explain how to become a professional ticket broker, what opportunities this business offers you, and how the earnings compare to other freelance jobs.
According to Zippia, a ticket broker earns an average of $52,732 per year, or $25.35 per hour. However, this income is only a vague indication, as it also depends on which state you sell in, how high your expertise is, and how actively you operate in the market – the more experience and effort you have, the more income can be generated. For example, the payment of a ticket broker in New York is $67,915 per year and $33 per hour.
How Ticket Brokers Make Money: 3 Essentials
The ticket broker’s salary varies significantly because the income is based on the know-how of the ticket platforms, market demand, and communication skills, as the exchange with potential customers must also be learned. If you have all of the skills mentioned and are willing to keep up to date with new trends, then working as a ticket broker may be the perfect source of income for you. The three most important factors are explained below:
1. Strategic Buy and Sell
Ticket brokers secure tickets in large quantities and usually buy them in advance. To make a lucrative profit, they resell the tickets at a surcharge.
2. Market Analysis: Timing & Sales Strategy
To be successful as a ticket broker, you need to know the market trends. Which events are viral at the moment? When is the best time to get maximum profit? For example, in some cases, it is advisable to offer tickets shortly before the event, as demand usually increases. However, this rule does not apply to all events.
3. Networking
As with any profession, networking is crucial. Get to know business insiders and other ticket brokers and exchange ideas. Knowledge of the different venues is essential. Networking opens new business relationships that secure exclusive prizes and, ultimately, higher profits.
Want more tips on how you can make ticket selling a source of income? Check out our articles on How to Sell Tickets on TicketX and 5 Best Ticket Resale Sites for Sellers.
Comparison with Other Freelance Jobs
As with all freelance jobs, income is subject to fluctuations: With ticket brokers, income depends heavily on the availability and demand of the tickets. In addition, the earnings depend on the skills: Do you know the market, and are you good at sales?
In contrast to graphic designers or writers, a high budget or investment must be planned for ticket purchases. Furthermore, profit is not guaranteed because there is a constant risk of a reduction in value or a slight increase in value.
Like most freelancers, ticket brokers enjoy the flexibility factor. You are your boss and decide what you offer for sale, when, where, and how much.
More Commonly Asked Questions
Are ticket brokers legal in the US?
In most states, working as a ticket broker is legal. Find out in advance whether this applies to your location. For example, you need a license in New York, Alabama, Georgia, New Jersey, Pennsylvania, Illinois, and Massachusetts. New York State has implemented the Arts and Cultural Affairs law, which restricts the resale of tickets at a price exceeding ten percent or five dollars more than the ticket's original cost. In any given situation, the higher of these two amounts will be enforced under this legislation in New York.
Where can you offer your tickets with the lowest fees?
TicketX does not charge commission fees; you keep 100% of your income. Communication with buyers is quick and easy via the resale platform. Sign up, create an account, and receive payments directly to your bank account. Further information can be found at Sell on TicketX.
About TicketX
TicketX is America's newest secondary ticket market, which debuted in July 2023. TicketX's mission is to provide the best ticket-selling and ticket-buying experience for American users. Thanks to our solid foundation built by TicketJam, the largest secondary ticket marketplace in Asia, TicketX promises to bring long-term support as well as world-class customer experience to the American audience. By leveraging the expertise and success of TicketJam as well as its Magazine, TicketX is poised to set new standards and redefine expectations in the dynamic world of resale ticket markets within America.
