Overview
I think running a billboard ad service is such a cool thing. Typically billboard advertising companies purchase or rent small lots of land to erect billboards that are used to display ads for their customers. Other types of outdoor billboard advertising include signage on public benches and buses. These businesses also buy billboards from other companies and resell the advertising space for a higher price. They perform a valuable community service by enabling property owners to earn income by leasing an unused portion of their land to provide advertising space for businesses.

Is this business right for me?
This is a great business for you if you enjoy making mutually beneficial connections between landowners and entrepreneurs. Billboard advertising business owners play an important role in increasing the visibility and success of businesses. Those who prefer to perform a wide variety of duties in a number of different work environments both indoor and outdoor, thrive exceptionally well in this business. However it requires that you have a keen eye for spotting points with present or future market value.

A typical day in my business.
• Meeting with business owners, real estate developers, graphic designers and advertisers
• Researching local zoning laws to determine the best potential sites
• Measuring land and billboard space
• Negotiating land use contracts and prices for advertising
• Overseeing the safe construction of regular and electronic billboards
• Conducting inspections, performing maintenance and making necessary repairs
• Bookkeeping and accounting

My target market.
Customers are business owners who want to increase public awareness of their goods, services, and locations. Clients may also be landowners seeking to make a profit by allowing advertising displays on their property by leasing a portion of it to your company.

How my business makes money.
A billboard advertising business makes money by selling outdoor advertising space on billboards, benches, or vehicles. Many also make money by selling their leases and permits to competitors for a profit. Prices can range from $300 (₦110000) to $10, 000 (₦3,650,000) or more, depending upon the location, the degree of visibility, and the amount of traffic it receives. Generally, the money you make from this is based on your city and the scale you wish to run at.

My business’ growth potential.
Billboard advertising is a growth industry and there are many franchise opportunities available. Some provide extensive training, mentoring and ongoing support.

Skills and experiences that will help me build a successful business.
• Communication and interpersonal skills for building strong business relationships and negotiating leasing contracts and advertising prices
• Accounting skills for budgeting, accounts receivable and accounts payable
• Computer skills for maintaining a website with information about your services and locations. There are classes available for learning these skills.
• Graphic design skills for creating customized billboard advertising for customers. These skills can be acquired through classes as well.

Costs involved in starting my business.
The cost of constructing a billboard can range from $500 (₦182,500) to $30,000 (₦10,950,000) which often requires financing from banks or, more often, an outdoor leasing company. In some states and cities, a license is required, the average cost of which is approximately $200 (₦70,000) per year maybe more or less. To find out the requirements of your city, you can inquire at the Internal Revenue Office. You’ll need to purchase zoning maps and a measuring device designed to measure long distances. A vehicle is also necessary for traveling to and from sites to gather measurements and perform regular maintenance.

Promoting & marketing my business.
One of the best ways to promote your billboard advertising business is by keeping abreast of new developments within the industry and the creative ways in which competitors are using them. Creating a blog on your website that features a profile of a different local business each month is a good way to demonstrate your knowledge of and dedication to the community. Advertisers love to take advantage of holidays to offer their customers great sales promotions and savings. Sending out pre-holiday promotion offers of your own is a good way to maintain consistent contact with existing customers as well as develop new business relationships.

How to keep customers coming back
When prospecting for new customers, it’s important to have a portfolio that illustrates your best work as well as statistics demonstrating the correlation between billboard advertising in a specific location and an increase in sales figures as a result. Creating a loyalty program that offers savings for long-term contracts is a great way to ensure a steady stream of income while you cultivate new prospects.

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