I am looking into building some new billboards that would measure approximately 36in x 24in., and leasing them for a twelve month lease at $950.00 a month. What would be the pros and cons of this idea?
Question #1: do you mean feet or inches in those measurements?
Question #2: how did you come up with 36 [feet] by 24 [feet]? That is not a standard sign dimension.
Question #3: can you get the applicable state and/or local permits to do so?
Question #4: what is the current market rate for such signs?
You’ve not given me enough information to give any opinion.
Regulatory and zoning issues aside, I can’t imagine a 2x3 billboard going for $950 per month, unless it was in Times Square in NYC, and even that is probably pushing it.
In my local market, one of the major billboard companies sells ad space on bus shelters. Those are maybe 4’ x 6’. I think they try to get $150-$200 per month and have about a 70% vacancy rate.
Your post clearly specifies “in.” (inches)
I remember a guy selling single square inches of advertising on his car once. Don’t think he did too well, even with the free plugs from the news media…
My opinion of answers to your question…
Pros…you’d get rich quick off these “suckers”
Cons…you’d never find any of these “suckers”, not any sober ones…
My idea for the $950.00 board is a double-sided board that can be mounted onto city light poles. I got the idea from a company in China that produces these boards, but I’m reluctant to do business overseas, so I found a company here in the U.S. that can manufacture these boards.
I had my measurements mixed up on my previous post. I am thinking of using a standard wall size poster of 24in x 36in. The board will measure slightly bigger than that to accomodate the poster. I am not sure what the market share for this size of ad.
As far as city permits are concerned, my town has a process where the last word will be up to a commitee.
To reiterate, I am thinking of leasing these boards for $950.00 a month for twelve months per side. What do you think?
I think it will be impossible to get $950 per month for anything of that size. We have small banners like that on the lightpoles in my small town of 4,500, and they cannot be legible with more than a logo. So you really need to compare that to transit advertising on cabs and benches, as an earlier respondent noted. Those rates are about 1/10th of what you propose – when they can find an advertiser at all.