Ticketing Platform Business

How Profitable Is A Ticketing Platform Business? (Updated for 2024)

Pat Walls

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Updated: October 9th, 2024

How Profitable Is A Ticketing Platform Business? (Updated for 2024)

So you want to start a ticketing platform business?

And the first question that came to your mind was, “well, are ticketing platform businesses actually profitable?”

Especially considering:

You could start a ticketing platform business with as low as $1,000
Based on our data, ticketing platform businesses generate an average of $4.74M per year

There’s money to be made. Don’t worry.

But, I don't want to spoil it all. Below we’ll cover everything you need to know when it comes to the profitability of a ticketing platform business.

Let’s dive in!

Is a ticketing platform business profitable?

Yes, a ticketing platform business is generally a profitable business. However, you still need to consider several factors since these things always impact the overall outcome.

For instance, since average revenue is $4.74M per year with an estimated gross margin of 20%, you could expect to recover your investment within 13 months or even less.

But of course, it all comes down to how much you earn compared to the potential revenues of your ticketing platform business.

To determine whether your business is profitable, you should earn more than your expenses in the beginning months. However, while you're in your first month, it can be challenging to know what to expect.

Therefore, you should maintain a record of your monthly expenses and income to determine whether you're meeting your goals. By doing this step, you can see how your ticketing platform business is doing and if any changes or adjustments need to be made to enhance or maintain your efforts.

Is a ticketing platform business worth it?

If you’re wondering if a ticketing platform business is worth it, the answer is a big YES. With ticketing platform businesses, you have the potential to earn $4.74M per year (this is based on data reported by real founders).

Further, you could have your initial investment back within months. Simply put, it’s a business worth a shot, especially if you have the resources and make the necessary efforts to achieve or surpass the target.

With a market size of $, it will be possible for you to build something that grows and turns into a flourishing business. As such, it’s the type of business you might want to consider starting.

Of course, you must learn and understand every aspect of running a ticketing platform business to ensure success. Still, as long as you have the initial investment and can endure a few months before your actual gains, this business could be worth it.

You might want to consider reading more specifics about successful ticketing platform businesses case studies.

Examples Of Profitable Ticketing Platform Businesses

Here are a few examples of profitable ticketing platform businesses, and a few more details about them:

1. TicketRev ($0/year)

Jason Shatsky conceived the idea for TicketRev from his experiences as a teenager and college student. While running a sneaker resale business, he saw a better way to trade high-demand, limited-quantity goods.

As a college student, he loved attending concerts and sports events but found tickets often overpriced. This frustration led him to imagine a platform where fans could bid for tickets at their preferred prices and locations, and sellers could accept these offers.

Thus, TicketRev was born—a reverse ticket marketplace that allows fans to find cheaper event tickets and helps sellers liquidate unsold inventory.

How TicketRev Works

Is it profitable? Yes
How much money it makes:

How Jason Shatsky Built A Ticket Bidding Platform [TicketRev]

Learn how TicketRev revolutionized the ticket marketplace by enabling fans to set their own prices, addressing the critical pain point that 78% of fans find tickets too expensive and 64% of secondary market inventory goes unsold.

Read this case study

Read by 224 founders

2. Discotech ($1.2M/year)

Ian Chen, the Co-Founder and CEO of Discotech, came up with the idea for their business after struggling to find reliable promoters and information about nightlife events and reservations. Realizing there was a gap in the market, Chen and his co-founders created Discotech, an app that simplifies event discovery, VIP table reservations, ticket purchases, and guest list sign-ups. Since surviving the COVID pandemic, Discotech has generated over $1 million per month in gross sales, with a net revenue of 10-15%.

Is it profitable? Yes
How much money it makes: $1.2M/year
How much did it cost to start: $450K

How 3 College Friends Created The 'OpenTable' For Nightlife [$1M/Year]

Discotech, an OpenTable for Nightlife, has partnered with over 1,200 venues across 50+ cities, generating over $1M in gross sales and netting between 10-15% as net revenue, while thriving after surviving the COVID pandemic.

Read this case study

Read by 5,795 founders

3. GreenRope ($1.92M/year)

metrics for our business are our customer satisfaction and retention rates, which remain consistently high. We currently have over 1,000 customers in over 20 countries, ranging from startups to universities and municipalities. Moving forward, we plan to continue evolving and improving our platform to meet the changing needs of businesses and provide even greater value to our customers.

Is it profitable? Yes
How much money it makes: $1.92M/year

On Starting A $160K/Month CRM & Automations Company After A US Air Force Career

GreenRope, a self-funded CRM and marketing automation platform with over 1,000 customers in 20 countries, was built organically and focused on creating a positive, customer-centric culture without outside investment, with an all-in-one interface solving challenges in managing sales, marketing, customer service, and operations.

Read this case study

Read by 12,050 founders

Learn more about starting a ticketing platform business:

Where to start?

-> How much does it cost to start a ticketing platform business?
-> Pros and cons of a ticketing platform business

Need inspiration?

-> Other ticketing platform business success stories
-> Marketing ideas for a ticketing platform business
-> Ticketing platform business names

Other resources

-> Ticketing platform business tips

How much can you make with a ticketing platform business?

With a ticketing platform business, you can make an average of $4.74M revenue per year (based on data reported by real businesses).

You can start with an initial investment as low as $1,000. Then, with proper knowledge and sustained effort, you could have an ROI (return of investment) within 13 months.

How much does a ticketing platform business make a week?

Based on our data, average weekly revenue for a ticketing platform business ranges around $98.8K. As such, you could see monthly revenues of $395K.

To know if your ticketing platform business achieves the weekly profit target, you need to keep track of the total earnings you get per day. Afterward, you'll want to consider subtracting the expenses you have daily.

Learning your weekly profit can also show whether you're hitting your target goal for your ticketing platform business.

How much do ticketing platform businesses owners make?

The income of a ticketing platform business owner can vary depending on various factors such as location, size, competition, and the owner's business skills.

But to give you some idea, the weekly revenue of an established ticketing platform business is about $98.8K. But this can be lower or higher depending on so many factors - it's almost impossible to say exactly.

While the potential for earning a good income as a ticketing platform business owner exists, success in this field requires a commitment to providing quality products and services and building a strong reputation within the community.

Ticketing Platform Business Profit Margins

Generally speaking, a ticketing platform business can expect profit margin of around 20%. Profit margins refer to the percentage of revenue that remains after deducting all expenses associated with running a business. In the case of a ticketing platform business, profit margins can vary depending on various factors, such as the type and quality of products sold, the size of the store, and the level of competition in the area.

However, these figures can vary depending on the pricing strategy, inventory management, and overall efficiency of the business. To maintain healthy profit margins, ticketing platform business owners must focus on managing costs, negotiating favorable supplier terms, and providing high-quality products and services to attract and retain customers. By doing so, ticketing platform business owners can ensure long-term sustainability and profitability for their business.

Ticketing platform business owner salary

The salary of a ticketing platform business owner is an unpredictable figure. It's significantly influenced by numerous factors, including the store's location, its size, and the degree of competition. An owner of a well-established ticketing platform business, in a prime position, might see an average weekly salary around the ballpark of $19.8K.

But it's worth noting, such numbers aren't always consistent. The earnings can vary wildly, potentially swinging by as much as 80% either way.

Achieving consistent success and maintaining a reliable income stream in this industry requires a deep commitment. It's imperative to offer high-quality products, deliver impeccable customer service, and nurture a trusted bond with the community you serve.

Conclusion

In a nutshell, based on many of our examples, a ticketing platform business may be a promising business to start - but the success of your ticketing platform business mostly depends on your effort and your approach.

If you focus on these, you'll have a much higher chance of a profitable ticketing platform business.

Part of

Starting A Ticketing Platform Business: Everything You Need To Know

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