608: How to Start a Billboard Business: $30k a Month Part-Time
May 16, 2024
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Listen to Chris Brown, the retired entrepreneur who made $30k a month from his part-time billboard business. Discover how to find, acquire, and profit from billboards, creating passive income streams and achieving financial freedom through strategic ad placements and relationship-building in the industry.
Owning billboards offers passive income potential with strategic investments and relationship building for financial stability.
Revenue generation in billboard business involves finding advertisers, structuring contracts, and considering static vs. digital billboards for maintenance and profitability.
Billboard investments hold long-term wealth-building prospects by focusing on asset value growth, scalability, and balancing hands-on management for consistent returns.
Deep dives
Acquiring Billboards for Passive Income
One key insight from the podcast episode revolves around the potential of billboards as a passive income side hustle. The guest shares a personal journey of financial struggle after graduation, leading to a commitment to seek additional income streams for stability. By investing in billboards, which are regulated for supply and demand, the guest found a lucrative opportunity with significant returns. Acquiring or leasing billboards, understanding regulations, and building relationships with sellers are highlighted as key strategies for success.
Maximizing Revenue and Operational Efficiency
Another important point emphasizes the revenue generation and operational aspects of billboard ownership. The discussion focuses on finding advertisers for billboards, including the use of phone numbers on signs and leveraging local businesses for ad space. Strategies mentioned include structuring long-term contracts with advertisers and balancing costs like print and installation. Additionally, the comparison between static and digital billboards highlights maintenance considerations and revenue potential.
Building Equity and Exit Strategy with Billboards
The podcast delves into the long-term equity-building potential and exit strategies associated with owning billboards. By operating billboards as a business with minimal personal involvement and focusing on long-term contracts, individuals can increase the asset's value. The guest touches on potential acquisitions by larger companies at a multiple of annual earnings, showcasing the scalability and asset value growth in the billboard industry. Balancing the benefits and drawbacks of static versus digital billboards is highlighted as a factor in decision-making for sustainability and profitability.
The Benefits of Digital Billboards vs. Static Billboards
One key insight from the podcast is the comparison between digital billboards and static billboards. While digital billboards offer the advantage of displaying multiple ads in rotation and attracting more advertisers due to increased inventory, static billboards can be just as effective. The discussion highlights the significance of inventory management and location in determining advertising rates and the importance of standing out in less competitive billboard areas.
Building Wealth through Billboard Investments
Another major point explored in the episode is the potential of billboard investments in building long-term wealth and achieving financial freedom. The podcast guest shares his journey of gradually growing his billboard portfolio over the years to secure consistent cash flow and asset value. This approach emphasizes the importance of steady, incremental progress and the value of alternative investment opportunities that offer hands-on control and potential for significant returns.
proactive pursuit of deals rather than the naturally efficient path that ETFs have
In addition to the insights about digital and static billboards, the episode also delves into the entrepreneurial aspect of actively seeking out advertisers and maximizing the revenue potential of billboard spaces. This hands-on approach contrasts with passive investment strategies like ETFs and highlights the unique opportunities presented by owning and managing physical assets like billboards for both cash flow and increased equity growth.