How much does it cost to buy a billboard? You laugh, but I’m not joking. The advertising industry is pretty cut-throat. Everyone wants to be seen, but there are millions of ads to wade through and the ads you actually remember are the ones up in the skies on the buildings and bridges as you walk and drive around the city. Since every advertiser wants the best billboards, finding available space that is great for eyeballs is getting harder. Owning a billboard as opposed to being placed on a never-ending waiting list to rent one would be one way to address that. Can I just buy my own billboard? Let’s jump in to this topic.
Many benefits come with owning your own billboard. When your lease with the present billboard owner expires, it will save you time from having to find another one, be more affordable, provide you more freedom, and allow you to rent it out to someone else when you’re not using it. Want to be the owner of a billboard? Or are you merely interested in it? If so, continue reading to learn more about the available choices and their associated prices.
Why would I purchase a billboard?
You can purchase a billboard that has already been built, eliminating the need for building and the associated costs of real estate. Even if it is not that inexpensive, this is the most straightforward method of owning a billboard. Unless you purchase the worst billboard quality conceivable…. An effective billboard would be:
- One that was recently constructed;
- One that is situated in a location where it receives a lot of impressions;
- One that is situated near a roadside where motorists are more likely to glance at it;
- One when there aren’t many nearby billboard competitors;
- One without any eye-sores close by;
- Of course, the size that is appropriate for your needs.
The price for purchasing your billboard will be determined by taking into account each of these factors. Based on size and cost per thousand, or CPM, we can create an approximation. The Outdoor Advertising Association of America states that the typical CPM for large billboards ranges from $3 to $18 and that it ranges from $1 to $13 for posters or smaller billboards. For instance, with the larger billboard, the base price ranges from $600,000 to $3.6 million if you need to purchase a billboard that generates an average of 200,000 impressions. It will cost between $100,000 and $2.6 million for the poster. All the costs I just listed are what you would pay if you were renting; but, when you buy, the seller will add their fees, raising the price. To give you a sense of what to anticipate, this.
Create a Billboard on Your Own Property
You might wish to use any land you already own that you believe would make a great placement for a billboard. You must first confirm that you are in the clear legally. You might not be able to instal a billboard on this property you own, or you might need to get certain approvals and fill out other paperwork before you can start construction. In any instance, it is appropriate for you to get in touch with the relevant county or city authorities to learn about the laws that are relevant to your circumstance.
You can begin erecting your billboard as soon as the legal aspect is finished. You must consider a number of things in order to calculate the precise expenses.
-First, be sure you select the appropriate material. For a 14 by 48-foot billboard, the approximate overall expenses, including construction fees, range between $15,000 and $20,000 if you choose to use a wooden structure. However, you’re looking at prices of between $40,000 and $100,000 or more for steel and $154,000 or even more for a digital billboard.
-The next step is to choose if you’re going to instal a static or digital billboard because knowing this will assist you estimate costs. Due of the electrical work and design, a digital billboard will undoubtedly cost more. Of course, you would need to work with a business that specialised in the area. However, you only need to use vynil for a static billboard, which costs about 50 cents per square foot. For a 14 by 48 dimension, for instance, 700 square feet of material should be sufficient, costing between $300 and $500. Due to its weather resilience, vinyl is the preferred medium for physical billboard advertisements. Keep in mind that even if you choose a static board, you will still want the services of a designer.
-Finally, you need to consider the cost of designing. It shouldn’t be too difficult to choose a billboard design firm, but you should definitely pick with someone you can trust to execute a decent job at a reasonable price. Some businesses will solely provide you with designing services, whereas others may provide design for free but charge for installation. For instance, 99Design will design your billboard and banners for you for between $199 and $659, while Billboard Etc. will print your billboards for between $90 and $6.84 million, depending on size and quality. Packages with complimentary design services are also available. These are but a few instances. There are other businesses out there who are providing sweeter bargains; naturally, you’d have to perform good research to find them.
Create a Billboard on a Third Party’s Property
The methods for installing a billboard on someone else’s property are the same as for installing one on yours, with the exception that you’ll need to rent a plot of land from another party. You’ll need to exercise extra caution with the legal portion in addition to the additional fees. You should decide with your landlord on specific parameters for the lease agreement, like:
- She or he is not permitted to erect anything on the land that would obscure your billboard.
- She or he has no influence over the content of your billboard. You should have the freedom to rent it out to whoever you want or advertise whatever you want.
- You have the right to enter the area of the billboard when necessary, particularly for upkeep, electrical work, and when you wish to modify the advertising.
Do You Need Your Own Billboard?
Now that you have a general understanding of what owning a billboard will cost, is it right for you? Everything relies on your current needs and financial situation. However, you don’t absolutely need to make a choice right away. You can save this knowledge for later use. Let’s weigh the benefits and drawbacks of owning a billboard.
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Advantages of having a billboard
- If your board is in a favourable location, you might earn a sizable sum of money by renting it to another company.
- You don’t have to pay any rental fees; all you have to do is cover the cost of installation when you need to advertise.
- There is no time limit for using the billboard. You can run your advertisement for as long as you’d like because you don’t have to worry about your lease expiring.
- It is unnecessary for you to spend time and energy looking for billboards to hire.
Drawbacks of owning a billboard
- You will be forced to remain in that same place because leaving will require more expenses and planning that you might not be able to afford right now.
- There are leasing conditions to be concerned about and potential disputes with the landlord unless you are on your own land.
- Finding customers to rent your billboard while it’s not in use could be difficult with so many billboard owners to choose from.
- With the costs of construction and installation, it will initially be expensive.
Which Choice is the Best?
If you still want to purchase a billboard after weighing the advantages and disadvantages, you might be curious about which choice is the best. Actually, there is no correct response to that. Because everything relies on your needs at the time of decision-making, there is no best choice. Your budget might not support what you believe would work for you. Recall how there are so many different cost factors? There are legal considerations as well. What if the property you own is ineligible for billboard construction? What happens if getting a permission takes too long?
And most crucially, will purchasing a billboard be preferable to renting one? You generally won’t need a billboard more than three times per year if you are advertising a product that doesn’t require a lot of advertising. Does that justify having a billboard? Unless you are more drawn to the rental component, in which case you want to lease a billboard to other advertising on a year-round basis. Although rewarding, it also carries a high level of risk. Even if you manage to find a perfect site, there is no assurance that you will be inundated with customers.
The daily rate for renting the advertising space for your billboard ad is typically $500-$800. Ad space costs more money the more days you need it and the more expensive it is to be in a specific location.
Prices for billboards can start at $5,000 for a one-day event and go up to well over $50,000. Short-term advertising campaigns (lasting anywhere from one day to three weeks) typically demand a budget of $5,000 to $25,000. That’s according to Eli at Gorilla Printing in New York, who’s regularly printing billboard vinyl for some of the biggest media agencies in NYC.
No, not really. There are strict laws around billboard advertising. Outdoor advertising is governed by a number of regulations. You can buy a billboard that is already up, install one on your own land, or lease the right to erect a board from another landowner. You may generate a steady flow of money from advertising using any of these methods. However, this can backfire if you choose the wrong area or just try to put one up yourself, as you may not receive any advertising revenue as a result if the location isn’t perfect. So, how much does it cost to buy a billboard?
You can talk to a vendor for suggestions if you don’t have a certain spot in mind. A word of caution, though. Visit the board and see for yourself. Avoid paying full price for a board that is hidden from view by climbing plants or otherwise not visible from the street.
You may feel confident pursuing your billboard purchase on your own if you have a good head for making decisions, confidence in your ability to bargain, and a clear understanding of the location you want your billboard to be placed in.
However, if this is your first time making a media buy or you aren’t sure of the best location for your billboard, it may be best to hire a professional firm to handle the negotiations. We are used to working with the figures, the jargon, and the haggling that come with billboard purchases because of how frequently agencies make them.
What should you look for when selecting a reliable agency to represent you? Investigate their website to learn what industries they have defended. Perhaps they have previously worked for a firm similar to yours. Then you should probably ask them some questions. In the event that you are left with more questions than answers or a nagging sense of unease after interacting with someone, it’s best to listen to your intuition. If the two parties don’t complement one another, the deal will fail.
People who have never purchased advertising often assume that the government has some sort of ownership interest in the billboards that line their roads. In reality, businesses rent out billboard space. These businesses charge advertising firms or their clients directly for use of the area.