I’ve been thinking of buying billboards and have been doing some industry research. I’ve come across some helpful insights on this forum—hoping somebody here can shed some light on my research efforts.
I’m finding that one major barrier to entry in this business is the localized regulation. Zoning and other laws restricting the placement of outdoor advertisements are placed at the discretion of the local municipalities and therefore can vary considerably. These regulations are not only a barrier. They provide investment opportunity by limiting supply and preserving asset value.
I’m open to investing across the country. My question is-- what might be the best way to research active and potential local ordinances with regard to outdoor advertisements? Are there any significant sites or archives at my disposal or would I just have to use google again and again as a research tool?
Any other industry research insights would be greatly appreciated!