All of the Ticket Broker tips are available in the business startup kit for ticket brokers available at www.myticketbiz.com
Greg Cox is the author of the "Ultimate Insiders Guide to the Ticket Broker Business". His business startup kit has taught many entrepreneurs the basics of becoming a successful. Along with the kit, his clients receive regular updates about the industry so they can make better decisions. Learn more about the business at www.myticketbiz.com
We have come up with several tips to help ticket brokers make money buying and selling tickets. Many of these tips exist to help brokers make some extra money. Some of these tips are designed to keep you from making bad decisions that will cost ticket brokers money. This is a part of a series of articles that expand and explain some of these tips.
A frequent question we receive from ticket brokers is when to raise and lower prices. There are definitive times when you want to do each. Knowing and adhering to these time periods can make or break ones ticket brokering business. If there is an extra hundred dollars to be made, one does not want to leave it on the table. On the other hand, you do not want to price above market and get stuck with unused tickets. As in any business, you need to be in sync with the market drivers and how they affect demand.
One of the times to raise prices is ten to twenty days before Christmas. Sports tickets, specifically NBA tickets, are popular Christmas presents. Every year we see a spike on our sales during this period. We suspect the jump ends around ten days before Christmas because people have a shipping time frame expectation. After the first year of not raising prices in this period, we decided to jump them the following. The sales volume stayed the same, but we had more money in our pockets the later year. That made for a better Christmas in our house.
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