Should i buy a billboard

It may also be beneficial to advertise leading up to and right next to a highway exit if you want to get travelers to your location.

Just like other advertising means and methods, the cost of a billboard advertisement varies. Most agencies that sell billboard space charge in cost per one thousand impressions, also called cost per mille CPM , that depends on the demographics, impressions and circulation. The total cost of a billboard, taking these factors into consideration, will vary between classic and digital billboards.

Other key costs to keep in mind are the costs to design and produce the billboard ad. In general, billboards benefit restaurants and shops the most over service businesses. Ultimately only you can determine if the cost of billboards are worth it based on your company goals and advertising budget.

If so, billboards are probably not worth it for you. Your money may be better spent on another advertising platform or other print advertising method. It largely depends on many factors, including the format, circulation, demographics and how many impressions an advertiser is likely to get. Essentially, to flip a billboard, you obtain a ground lease for a space that already has a billboard constructed on it along with the necessary permits then sell that package to a larger billboard company.

Many mass-media advertising companies are looking to lease as many billboards as they can, as their own operations depend on their ability to saturate a given area with advertisements. John began his year career in the editorial business as a newspaper journalist in his native Connecticut before moving to Boston in He started fresh out of college as a weekly newspaper reporter and cut his teeth covering news, politics, police, and even a visit from a waterskiing squirrel.

He went on to work in the newsrooms of several busy daily newspapers, and developed a love for detailed storytelling, focusing on the lives and diverse tales that all people have to offer. Moving on to the business arena later in his career, John worked as a managing editor for a healthcare publishing company and a technology software firm.

How to Put Your Name on a Billboard. Share on Facebook. How Do You Buy a Billboard? If you buy an existing billboard, that should be fairly easy to determine because you will know what leases are in place and the historical performance for that billboard.

How much you can charge will depend in large part on how much traffic is on the road next to your billboard. You need to figure that out before you settle on a billboard site. Many times, the city will be able to provide this data to you. Obviously, the more traffic the better. You may be able to get a sense of the demand for billboard advertising space by reaching out to local businesses in the area to see if they would be interested in billboard advertising and how much they would pay.

You can also call the owners of billboards in the area if there are any and ask how much it would cost to advertise on their billboards. By doing this, you should be able to get a pretty clear sense of what the market rent is for that area. Of course, once you have a billboard up and running, your work is not done. You will need to make sure the billboard space stays leased up. You also need to ensure that your permits don't lapse and your ground leases are renewed if you are renting space from the land owner.

And as I mentioned before, you will need to maintain the billboards if they ever malfunction or otherwise need attention. If you want to learn more about investing in billboards, Frank Rolfe has written the leading book on the topic. Pros of Owning a Billboard Business. Cons of Owning a Billboard Business. A billboard business can be profitable. Good billboard locations are difficult to find.

A billboard business can be semi-passive. Billboards are valuable assets. A few well-located and well-maintained billboards can provide terrific income to you for many years. Although billboards are not completely passive in fact any real and profitable business is going to require some work and oversight , they can offer a pretty good income without all of the hassle associated with running other types of businesses because you do not have employees or retail customers.

You will need to interact with people who want to advertise on your billboard from time to time, but that is a far cry from dealing with high-volume walk-in traffic and all of the complications that can arise from that. Each billboard in your business is a valuable asset that can be sold. More important than the billboard itself are the permits and land leases that you possess that allow you to erect and keep your billboard in its location.

These are hard to get and can command a strong price in the marketplace. If you are the owner of your own business, you do not answer to anyone.

Hard to put a price on that. You can grow your billboard business by setting up or buying additional billboards. Or are you just curious about it? If yes, then keep reading to find out about different options and the costs. A good quality billboard would be:. All these elements will be considered in determining the cost of buying your billboard.

We can make an approximation based on the cost per thousand or CPM and size. This is to give you an idea as of what to expect. If you already own land you think could be an excellent location for a billboard, you might want to use it.

First, you need to make sure you are in the clear legally. This space you own may not be eligible to build a billboard, or it may need to meet some requirements such as permits and other paperwork before you starting building. Once you get the legal part out of the way, you can start the process of building your billboard.