Event Prospecting: A Guide to Researching Profitable Events

Identifying events that offer the greatest potential for profit can be tricky, but with the right research and planning it is possible to find potentially lucrative opportunities. This guide will cover the basics of event prospecting and how to identify profitable events for online ticket resellers.

Steps for Successful Event Prospecting

Identify Trending Events:

• Investigate what events are currently trending.

• Compare average markup on tickets to find out which ones have higher demand among buyers.

• Analyze past trends to establish which genres or types of events could draw more customers, as well as those that have more profitability potential.

Conduct Market Research:

• Learn as much as you can about your target market so you know what types of events would draw buyers and at what price point tickets should be sold.

• Analyze past trends - which genres of music/events typically sell well?

• Are there occasions or holidays when demand is especially high?

• Are there certain cities or regions where people are more likely to purchase tickets?

• How often do similar types of events occur?

Create an Action Plan:

• Map out all steps required to buy tickets at retail price, resell them at a higher price, and make a profit.

• Set realistic timelines that account for researching events and outlining strategies without sacrificing accuracy or precision.

• Track prices of potential tickets ahead of time to anticipate market rates and plan for the amount of tickets you can reasonably purchase before the event.

Execute the Plan and Monitor Performance:

• Implement your action plan effectively while analyzing performance along the way.

• Ensure you're constantly checking ticket prices in your market compared to what you're offering to remain competitive in order to maximize profits.

Conclusion

Event prospecting is key to being successful as an online ticket reseller - it's important to take the time to research and map out a plan before hand. With proper planning and research, you should have no problem finding profitable events!