What It's About
How a PE teacher flips concert tickets to the tune of $12,000/Month.
Words of Wisdom
Dan recommends keeping a ledger to track the performance of each ticket you flip. Past performance can be an indicator of future performance, and being aware of this can help minimize the risk you take when purchasing a ticket.
A while back, Pearl Jam discovered that Ticketmaster was adding a service charge to all their concert tickets without informing the band. To protest, the band created their own outdoor stadiums for the fans and testified against Ticketmaster to the United States Department of Justice.
Notes from Chris
It was a year of change for physical education teacher, Dan. After first pursuing a career path into sports management, he’d seen the hectic lifestyle that people in the industry tended to lead. He then opted for a more stable career as an elementary school teacher. He’d also recently broken up with his long-term girlfriend and found himself at a loose end. Thankfully, he had a good friend who was also recently single, and they ended up hanging out a lot. And one of their favorite activities was attending concerts in the Boston area. The downside to this was Dan’s friend’s unpredictable work schedule. They would buy tickets months in advance in the hopes it would work out, but often had to resell the tickets when one or both of them couldn’t attend at the last minute. After a few of these experiences, Dan noticed he was making a reasonable profit on the tickets he flipped. Enough, in fact, that he felt it could be a good supplement to his income. So, he decided he would intentionally flip tickets for local events to see what kind of profit he could generate. He began by following local music venues on Twitter. Whenever they booked a new act, they would tweet about it. He’d pick up any that his intuition told him felt right, and then try to resell them. It’s not always good to follow your intuition. Because of his gung-ho technique, Dan’s success was far from instant. There was a lot of trial and error, and he made some bad calls where he lost money. But, he enjoyed the process and felt like he was learning more and more each month, so he stuck with it. For several years, Dan managed to grow a consistent side income from the tickets of between $500 and $1,000 per month. He believes anyone can do this and later built a resource to help people learn the basics. But, even more interestingly, it was in his fourth year that Dan would really take the process seriously and double down on his experiments. Dan’s nationwide approach has enabled him to earn $3,000 to $5,000 during a slow month, and $10,000 to $12,000 during a busy month. All for roughly 20 hours of work each week! He’s now created a platform where he helps teach people how to start their own ticket flipping business called, Ticket Resale Team. For $149 a month, students can get access to 30 training videos which show you the ins and outs of the business. When he was first newly single and going to concerts with a friend, Dan had no idea that buying and selling tickets would eventually become such a major part of his life. By following up on his interest and beginning to take small risks, you could say that he’s now playing in an entirely different arena.
MENTIONED IN THIS EPISODE:
- Ticket Resale Team: Interested in flipping tickets, but aren't feeling up to doing all of the researching involved? Head on over to Dan's website and sign up for his Ticket Resale Team!
- TicketStub: One of the ticket platforms that Dan uses to flip the tickets he purchases
- Music Lover Strikes Chord with Guitar Flipping Hustle: A self-proclaimed “collector of things” turns her guilty pleasure into a profitable side hustle that brings in over $2,000/month
- Teacher Flips Sports Gear For $8,000/Month: A teacher uses his love for sports memorabilia to bridge the financial gap between his teaching contracts—then goes on to create a highly profitable business
- Flipping 101: The College Textbook Edition: A college student with a new family to support reads between the lines and turns a $20 used textbook into almost $70,000 within two years. This episode will flip your lid!
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