Sat Sep 10 | Posted by Daniel Hooper
Have you ever looked at a billboard and thought, “I wonder who owns those” or “I wonder what kind of passive income a billboard makes?” If you have, then you’re in the large majority of people. To own a billboard, you either have to buy one that’s already in place, place one on your land, buy one and rent land, or lease a billboard and have land to place it on. Typically speaking, a location should have advantages like heavy foot traffic or a large population that passes by the billboard. It is not advised to place a billboard where no one will see it.
Buy a billboard
Owning a billboard or digital billboard technology is an enticing aspiration, and there’s obviously money to be made in the industry considering how common they are. However, there are a few things to think about before buying a billboard.
- How is the visibility
- How much traffic goes through
- What are viewer demographics
- How many competing billboards are around
Building your own billboard
You really can’t put up your own billboard. Outdoor advertising material manufacturers are professionals, and the building should be left to them. Local governments have multiple restrictions and regulations on billboards. Contacting an outdoor advertising material manufacturer makes it easier to get your billboard made. By the end of your construction, the costs you will incur will likely cost you far more than necessary.
Why own a billboard?
Billboards can be extremely profitable. With advancements in digital billboard technologies, digital billboards have become increasingly popular. They have the ability to display multiple ads on one billboard or interact with people viewing the billboard. Digital billboards are made of LED lights, colors, and animations, if possible, to increase attention and impressions. Most billboards use impressions to determine how successful they are. In some areas, billboards can earn as much as 5,000 and can go as high as 20,000 a month in high-traffic areas. Billboards can bring in over 100,000 a month in the most coveted locations.
What to consider when buying
There are obvious things to consider when purchasing or billboard. Are you going to use a billboard manufacturing company to enact the billboard? Are you going to use digital billboard technology and have a digital billboard? It all depends on what you’re advertising, who you’re advertising to, how large your billboard is, and how much money you have. Typically, digital billboards are more expensi6ve to lease but are also more money upfront to buy.
Steps to follow for a billboard advertising company
If you’re looking to buy or purchase a billboard and become a billboard advertising company, it can seem confusing and overwhelming. How do you start? What next? How do you contact companies? There are a few easy steps to follow that will help you.
- Learn the trade. Billboards and advertising are very complex. Learn the language and understand what you’re getting into
- Market research. You must identify the companies that are already billboard advertisers, check their pricing and designs, then find small and medium companies to be your prospects.
- Name your business. Find a catchy and relatable name to use. The name must appropriately describe your business and what you do.
- Create a billboard business plan. Financial analysis, marketing strategy, and expansion planning are aspects that a business plan must contain. No one will take you seriously if you don’t have a plan.
- Legal Considerations. There are many restrictions and rules with billboard marketing that you must follow.
- Set pricing. This way, your clients know what you offer and for what immediately.
- Promote and expand your business. The only way to make more money is to continue to grow.
Digital Billboards by Formetco Digital
Here at Formetco Digital, we build top-of-the-line digital LED billboards in multiple sizes. Our digital billboards are brighter, more energy-efficient, longer-lasting, and cheaper to operate compared to other digital billboards in the industry. Talk to us about our 10-year warranties and financing programs.For a quote, to get more details about the benefits of digital billboards, or for answers to any other questions, you might have,contact ustoday!
