Randy Burkett has 42 years experience in the out of home business.  Last week Randy talked about sign development.  Today he explains how automated sales platforms can boost revenue and what’s important when you sell your out of home company.

Automated Sales Platforms

I signed up one billboard with Blip.  It was during Covid.  I was getting checks for $5 and $10 a month.  Now those checks are over $1,200 a month.  So it’s worth it.  I think they are going to get better and better.  They are getting only a little less than I can get on the spot.  I’m happy with the spot I’m giving them.  A lot of Blip clients buy it by the day.  When I drive by that sign my wife will say “we don’t have that tire company client” and I’ll say “that’s Blip.” Of course we approve the ads and I’ve only rejected one over the whole time I’ve had them and that was due to it being an anti-Christian message.

What’s important when you sell your Out of Home company.

You want to make sure you’ve got good solid ground leases.  All mine are 20 years with a 20 year option but I have a right to take it down if it’s not economic.  I, like a lot of operators, may have had an advertiser on that board for 10 years and the contract has been expired for 8 years.  That’s where it gets a little dicey.  You hate to go out there and wake a sleeping dog.  Lamar in one deal made me go and get some up to date contracts but for the most part you just sell it as is.  They plan on increasing the rates anyway.  Make sure everything is properly permitted.

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