Pros:
1. Opportunity for high profits: As demonstrated by Shiraz Mawani’s success, reselling tickets online can potentially lead to significant financial gains.
2. Flexibility and convenience: Running a ticket reselling business can be done from anywhere with an internet connection, allowing for a flexible work schedule.
3. Low startup costs: Compared to other business ventures, reselling tickets online typically requires minimal initial investment.
4. Variety of events: There is a wide range of events to choose from, including sports games, concerts, and theater shows, providing opportunities for diverse ticket reselling options.
5. Potential for networking: Engaging in ticket reselling may allow you to build connections with event promoters, venue owners, or other resellers.
Cons:
1. Legality concerns: Ticket reselling may face legal restrictions or gray areas, depending on the jurisdiction and specific event regulations.
2. High competition: The ticket reselling market can be highly competitive, making it challenging to secure tickets at face value and resell them at a profit.
3. Unpredictability of demand: Successful ticket reselling relies heavily on accurately predicting and meeting market demand, which can be unpredictable and fluctuate.
4. Risk of loss: If tickets fail to sell or events get canceled, there is a risk of financial loss, especially when investing in high-value tickets.
5. Ethical concerns: Ticket reselling practices are often criticized for driving up prices and making events less accessible to genuine fans.
Please note that these lists are provided for informational purposes only and do not constitute endorsement or guarantee of success in the ticket reselling industry.
context: https://www.businessinsider.com/how-reselling-tickets-earns-me-tens-of-thousands-per-month-2023-10
Shiraz Mawani earns up to $32,000 per month through online ticket reselling. What began as a cost-cutting strategy for watching hockey games with friends in 2014 has now evolved into his lucrative side hustle.
