The billboard business is a reliable industry that has seen good returns on profits over the last few decades. These profits are from the simple but effective technology behind the industry, the humble billboard. The billboards range from diode lights to illuminated drawing made on Photoshop. Here is how to go about establishing a billboard business.
Plan To Start Your Own Billboard Business
Know the rules and regulation on billboards
- Every locality has it’s own policies on billboards, and this needs to be known and taken into consideration.
- The rules may target the locations at which billboards are allowed and locations at which billboards are not allowed, the safety requirements that must be satisfied and such.
- One more thing while in this step is to obtain a permit for the structure if it is required by local regulations.
Get property rights
- One should obtain land by some means on which the billboards will stand, this may be done through renting or if appropriate a purchase.
- Renting is the most efficient and cost effective means for most business models.
- Negotiation for acreage should therefore be done cautiously and sensibly to avoid getting ensnared in expensive contractual obligations.
- The next thing to consider is the art that will be placed on the billboard. Regulators mandate that the art be original and not in violation of any previous copyrighted material.
- The art can be handmade, though this is old fashioned, or it is printed in large format.
- The printed art is usually made in Photoshop by artists or in other sophisticated art software and then printed by large format printers.
- A construction company needs to be approached to do the actual billboard construction, depending on the type of board, the specification and type will determine the cost.
- The sizes of billboards differ, and sometimes the size is determined by local regulation, by economic considerations or more importantly buy the size of the property being used. The types of boards include vinyl billboards and LED billboards. The vinyl type are cheaper and easier to work with, but give a low amount of revenue. The LED billboards are slightly more expensive to build and maintain, but do give a considerably higher amount of revenue as more than one company can be advertised at the same time.
- Once the costs of operating the business profitably are known, a price list of the products the business offers can be drawn up and marketed to potential clients.
- For economic considerations, the offers may have to stipulate a minimum rental period as well as incentives like discounts for a longer rental period, with due consideration to the competitors rates so as not to get under-cut.
- It is also critical to get insurance for the billboards, as they are assets critical to the enterprise, and are exposed to elements as well as being susceptible to vandalism.