Mid Week Side Hustle Income Idea: Scalping
Starting this week, every Wednesday, I’m going to present you with a mid week side hustle idea. I’m going to try to keep them as original as possible. I’ll make sure that they make real money and that they don’t require some ridiculous skill set that no one has. They will be things anyone with an internet connection and transportation can do.
I retweeted an article today from cnbc. You can read it here, It basically talks about how online ticket scalping is a major business now. It occurred to me today that anyone can do this. One of the guys quoted in the article actually started his business because he was making so much money doing this on the side. This isn’t a difficult concept. Find something you know will sell out. Wait in the online queue for tickets to go on sale and as soon as they do, buy the alotted maximum or any amount really, maybe one to start out, and then resell them on stubhub.
I figure the going price for a popular entertainment act might be around $60. One of the guys quoted in the article said he made 20% on every sale. that’s $12 per ticket, lets multiply that by 4 (maximum tickets you can probably buy), thats $48. Stubhub takes a 10% commission from sellers so you are looking at about $43ish in profit.
How much work do you put in?
Sitting at your computer for an extra 20 minutes? This is probably something you do anyway so that seems pretty good, obviously the higher the ticket price, the more money you could make here. There’s also no reason you can’t do this 2-4 times a week assuming you have the cash flow to do it. At 4 times a week your also looking at almost $175 a week. That seems like a pretty solid way of making some income. Don’t forget about the ridiculous amount of credit card points you could rack up doing this.
Read this before you go
It (should) go without saying that this could be risky, be sure to do research on the gig that is playing and the area, don’t buy tickets to a country music concert on the west coast because, well it’s probably not going to sell out. Pay attention to your area as you probably know it best and look at what sells out on a consistent basis. Use that brain and go make some money.
Discover any other easy side hustle ideas this week? Post them in the comments below.