Setting up a business to sell tickets online is now much easier than it used to be. Although it will take some time for a new ticket selling business to grow as big as Ticketbis and other big players who now cover events in about 50 nations across 6 continents in various languages, you can still begin today and grow steadily till you become a major player.

What a newcomer needs is strong passion for the business, the right technical information and a strategy that can make the business stand out among competitors. Here are some of the important steps you should take when starting a ticket selling business online.

1. Learn how online ticket business works

Essentially, running a ticket selling business involves buying blocks of tickets for popular events in advance. Then through a website and other forms of online marketing, you attract buyers who will pay you much more than the price you bought the tickets originally. The buyers will contact you through your website or on the phone and then pay you with their credit cards or other online payment systems like PayPal.

2. Connect to ticket brokers and resellers

When you are just starting out, most of your tickets will be sourced through major ticket brokers like Ticketbis, so it is important to register early with ticket broker associations. In most countries, there are state (or regional) and national associations. After you become a member, you will have access to some of the exclusive resources, privileges, and special deals that these associations give their members. You will also be able to locate some highly successful brokers who can serve as mentors to you as you build your business.

3. Set up your payment processor and website

You will need a very efficient merchant account to collect money, through credit cards, from those who want to buy tickets from your website. Since the process of setting up this account could take between 4 to 8 weeks. It is important to start the process very early so it does not cause unnecessary delays. You may open up an account for credit card processing through your bank, or use a well known payment processor. Make sure you use a payment processor with a solid reputation for security and safe payments so that your customers will be confident enough to put in their credit card details on your website.

In addition, you have to set up your business website and choose a business-friendly domain name. Today, you can choose from many well established ticket selling website templates and customize them to suit your needs. This will save you a lot of time when you are starting out. However, make sure you do thorough research and read reviews about any web development firm before you pay for their service.

4. Develop and use an effective marketing strategy

Your ticket selling business can only grow and succeed if you market it aggressively online. So you must create a winning marketing strategy that will help you to attract more buyers than your competitors. Make effective use of search engine optimization (SEO), search marketing and PPC, Facebook ticket marketing, Twitter, and all other forms of internet marketing. Also, you should work hard to keep your existing customers so they can become repeat buyers.

These tips can help you to start building a successful ticket selling business online. But you should not stop at reading. Take some practical steps today. You may even proceed to the Ticketbis website now to see an example of a flourishing ticket selling business.

This post was submitted by a contributor. Check out our Contributor page for details about how you can share your ideas on starting a business, productivity or life hacks with our audience.