Has anyone ever leased property for a sign? We have a family farm that is on a major highway in Indiana. I would guess 200-300k cars pass per day. There is a sign that is on our property that advertises for a local business. The sign is about half the size of a normal billboard and I don't think it is lit. I imagine there was a gentleman's agreement at some point but any parties to that are long dead. I know no rent has been paid for the last 20 years. We would probably be willing to keep letting it go but we just received a notice from the state that some changes need to be made to the sign. There is no reason to do anything other than cut it down if there isn't a little money to be made. What should we be charging per month/year? I know the answer is probably whatever they will pay but it would be nice to have a little info before contacting them.
Contact a couple of their competitors. Give them the location, size etc., and see what they offer. Then, call the company that owns the sign, see what they offer and compare.
I know they can be very expensive to lease, from a customers standpoint. Look on Lamars website and see what they're getting for some of their prime locations. I swear I saw 10k a month for some around here.
At my old shop, when we bought a new to us building, it had a smaller billboard on it, at the corner of the propery(all fenced in, in the city). I was suprised by how little we got on a monthly basis for it. We had to honor the lease that was in place when we bought it. This was a smaller sign in a non prime location, and I think the lease was like $300/year 10+ years ago.
Please don't tell me it's the "Jesus is Real" sign :P I bet the Lion's Den would pay top dollar ^Those jokes only make sense if you on I-65 north of Indy
Come on man, $300 a year or warming your weiner to the glow of a burning road side sign???? I'd go for the weiner warming.
Bill boards here go anywhere from $400 to about $3000 per month depending on location. I'm thinking $200 per month is reasonable.
That's about right. One of my former employers taske me with some billboard advertising, I couldn't get a check to a guy like you who said he would rent us his board for 2k on the year if we paid up front. Similar boards were around 600 a month. Check your area for pricing and roll from there.
My GF is in the outdoor advertising business. I think she gets something in the range of 350-700 per face/month depending on the location.
DO NOT CUT IT DOWN! Billboards are often grandfathered in and if you remove the original structure, you are DONE. You will never be able to get a permit to rebuild it. That's why you still see old wood signs everywhere. Start with the local building Dept. You may have to call Clear Channel, or CBS outdoor advertising, but be careful with that advise. At minimum, they can put a value on a long term lease of the sign.
Ya, there's this mexican place north of SC on I-95 that must spend 10's of thousands of $ every month on their advertising. Can't believe the number of boards they have up....
We used to do small billboard advertising and paid about $200/month for a good location. Right now we're selling a property that has 2 full size billboards at an exit ramp on I-80 and they get $4,000/year for both.
South of the Border. They have been around since the 60's at least. I wouldn't be surprised if they got 100 year leases on the cheap back then because they have not moved in my lifetime.
I knew I wasn't crazy. Hell, I was on the cheap side. Scroll down to Cincinnati and Columbus. One digital on there for 92k a month and a poster for 13k a month. http://www.lamaroutdoor.com/StateRates.aspx?State=OH
