Thanks for the resources this website provides.
I own a small, one truck mobile billboard company in Toledo Ohio that I started earlier this year as a project for business school. It was originally just a business plan on paper for one of my business classes, but after a ton of research I decided it made sense to make it a reality. I got my parents to invest, and 9 months later, I have nearly earned back the total investment. My professor was quite impressed, and had only seen a few other students do that.
The next logical step is traditional billboards. I feel that if I do this correctly, it will provide a more stable and predictable income than the mobile aspect. I am approaching this very carefully, and have a few questions. My biggest question is: If there is money still to be made out there, why aren’t the big players in my area (Lamar, CBS, and Brooks) building more billboards? Are they just not interested in doing work for a locations that don’t bring in substantial income? I have identified several locations that seem to most definitely be build-able, and there are permits available… assuming everything works for that location… why has this 24 year old with no experience in static billboards identified a moneymaking location (in an obvious spot that just stands out to you when driving down the street, with a traffic count of 13,000 across from a university) while the professionals haven’t seemed to touch it? While driving around town, nearly 100% of the billboards I see are rented. There are virtually no vacancies, aside from ones that have become blocked or obscured. If this is so, why would the big guys not jump on these locations? Do they just wait for someone else to discover them, do the work, and then sell it to them?
I am patiently awaiting your course. Is there anything you could suggest I do over the next week while I wait for it?