Start A Ticketing Platform Business
About
Starting a ticketing platform business requires a great deal of effort, dedication, and most importantly passion.
If you're interested in how to sell ticketing platform, or selling ticketing platform online, you can use this page as a guide for everything you'll need to know.
Key stats
Startup Costs
| Min Startup Costs | Max Startup Costs | |
|---|---|---|
| Office Space Expenses | $0 | $7,000 |
| Employee & Freelancer Expenses | $151 | $352 |
| Website Costs | $223 | $7,215 |
| Business Formation Fees | $5,600 | $20,400 |
| App Creation Costs | $1,000 | $20,000 |
| Software Expenses | $162 | $3,094 |
| Advertising & Marketing Costs | $0 | $2,750 |
| Specific Industry Expenses | $0 | $300 |
| Total Startup Costs | $7,136 | $61,111 |
Case Studies
•
$160K/mo
•
$150K/mo
•
$100K/mo
•
$90K/mo
Successful Businesses
| Business | URL | Rank | |
|---|---|---|---|
|
Ticketmaster | ticketmaster.com | #3,938 |
|
Ticksy | ticksy.com | #7,536 |
|
Trainline | thetrainline.com | #14,639 |
|
FareHarbor | fareharbor.com | #21,221 |
|
Songkick | songkick.com | #23,842 |
|
Townscript | townscript.com | #24,078 |
|
Ticketleap | nashville-tea-party.ticketleap.com | #34,120 |
|
Omio | omio.com | #53,374 |
|
Ticket Tailor | tickettailor.com | #53,977 |
|
redBus | redbus.com | #65,797 |
|
Dash Platform | dashplatform.com | #68,683 |
Pros & Cons
| Pros | Description |
|---|---|
| Flexibility | You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own. |
| Ability to start your business from home | It's not necessary to have a physical storefront or office space to get your business started. You can do everything from the comfort of your own home, at least in the beginning! |
| Meaningful business connections | You never know who you will meet as a ticketing platform business. This could be the start of an incredible business opportunity! |
| High customer retention rates | Once a customer invests in your product, they've invested their time and energy to utilize your product/service which is highly valuable to them. Typically, your product or service becomes indispensable to your customer. |
| Gain exposure and experience | This career allows you to gain experience working for multiple different businesses - which will benefit your resume and also keep things interesting for you! |
| Unlimited income potential | With starting a ticketing platform business there is no cap as to how much income you can make. The stronger your business skills and the more energy/time you put into your career, the more you'll make. |
| Cons | Description |
|---|---|
| Motivation of employees | If you plan to have a sales/content team on board, finding creative ways to motivate them can be a challenge. It's important that you're able to offer great incentives and a good work environment for your employees. |
| Longer Sales Process | A ticketing platform business can be a big time and money investment for your customer, so it's important you plan and predict a longer conversion funnel and stay in communication with potential customers. |
| Low margins | The gross margins for your ticketing platform business are typically around 20%, which can make it more challenging to incur new expenses and maintain profitability. |
| High employee turnover | In the ticketing platform business, employee turnover is often high, which can be quite costly and time consuming for your business. It's important to try and avoid this as much as possible by offering competitive pay, benefits, and a positive work environment. |
| High overhead expenses | With starting a ticketing platform business, there are overhead expenses that come with selling a physical product. You will want to make sure you strategically budget for these overhead costs. We discuss this more in the startup costs section below. |
| Churn | In this business, customers can cancel their membership or subscription for your services - which can make revenue forecasting challenging and unpredictable. It's important to focus on your churn rates and trends so that you can prevent this as much as possible. |
Marketing Ideas
-
1
Affiliate Program
Affiliate marketing is a great way to bring in a new revenue stream, especially when you don't sell products or services.
Simply put, an affiliate program is an agreement where a business pays another business or influencer ("the affiliate") a commission for sending traffic and/or sales their way.
The affiliate typically gets a unique link where clicks and conversions can be tracked.
-
2
Direct Sales
Direct sales strategy implies a direct contact between a seller and a consumer without the involvement of any third party. Direct selling is popular in sectors where sellers communicate with their clientele personally. The sales technique occurs at non-store locations which include at home, work, or online.
For direct selling to succeed, hire a few (or many) salespeople to support the sales conversion process. It's critical that you assign them specific roles and responsibilities to nurture the client and provide excellent support.
-
3
Word of mouth
Word of mouth is when a consumers reflects their interest in a company’s product or service in their daily dialogues.
Therefore, word of mouth advertising is essentially a free advertising triggered by the customers experience.
According to Nielsen, 92% of people trust recommendations from friends and family.
Therefore, in today’s hyper-connected world, a single recommendation through a word of mouth can have a huge impact to your business.
"An amazing network of founders that truly want to help each other grow their business."
Last chance to get this download.
