Hello everyone,
I am a 21-year-old man with excellent credit, no debt, and about $10,000 in savings at the moment. I am aware that this is a small amount of money, insufficient to purchase a billboard particularly one with reasonable exposure.
How feasible is it to build or purchase a billboard, I was wondering. Would you like to borrow money to finance it since, ideally, it will pay for itself? It is a lot less than a mortgage loan, so maybe I could manage it.
With $10,000, buying or building a billboard might be tricky. It could be worth exploring financing options or partnerships to make it work.
When I was 21, I had a bit of savings and was considering various investments. Building or purchasing a billboard seemed intriguing, but I quickly realized that it involves more than just the initial cost. Beyond the purchase or construction, there are ongoing expenses like maintenance, permits, and insurance. Financing it could be a good option if you believe it will generate enough revenue to cover these costs and provide a return. However, Iād suggest starting with a detailed business plan and perhaps consulting with a financial advisor to understand the full scope of the investment and its potential profitability before taking on any debt.
If done properly, purchasing billboards can be a wise financial decision. Leasing and ownership is one approach. Entrepreneurs can choose to hire or own billboards to erect on their properties. Then, for a set amount of time, they lease the advertising space to various companies.