The Billboard Mastery Podcast
The Billboard Mastery Podcast teaches listeners the correct way to identify, evaluate, negotiate, perform diligence on, select the construction type, build, rent ad space, and operate billboard signs. Host Frank Rolfe shares expertise from his experience building the largest privately-owned billboard company in Dallas/Fort Worth. Each episode provides practical guidance for anyone interested in the billboard industry, from finding opportunities to managing operations. The show aims to help aspiring billboard investors and operators master the business.
Episodes
The Big Boss Is Rate of Return
When deciding whether or not to build or buy a billboard – or even what type of billboard – the big decision maker needs to be the rate of return. In this Billboard Mastery podcast we're going to explore how to determine the rate of return, what's normal in a good billboard deal, and why that one item should be your ultimate decision maker.
Beware The Bankruptcy Ad Blitz
It’s a common theme for businesses that are in financial trouble to commit to huge ad campaigns, even though they have little intent to pay for it. Their theory is that with such a “Hail Mary” gamble they might pull themselves back from the brink of bankruptcy. In this Billboard Mastery podcast we’re going to review what this type of situation looks like and how to protect yourself from i
All About Access
It’s one thing to build a billboard and something entirely different to maintain access to it. In this Billboard Mastery podcast we’re going to review everything you need to know about getting and keeping access to repair lights, install ads, and keep tabs on your property.
All About Roof Mounts
One of the oldest styles of billboard structures in America are what are called “roof mounts” – signs that are physically built into roofs of buildings as their structural support. Dating from around the 1920s to 1960s, most cities will no longer allow you to build these, but they sometimes come on the market to buy. In this Billboard Mastery podcast we’re going to review the history of t
Lessons Learned From Digging Holes
Whether it’s monopole, I-beam, or telephone pole, every billboard begins with digging giant holes in the ground. And there are many things that can happen when you dig a hole, and many things you can hit below the earth’s surface. In this Billboard Mastery podcast we’re going to explore the lessons learned from digging hundreds of such holes.
The Key To A Good Ground Lease Is What Happens
At The End One of the key features to a successful billboard ground lease is not what happens at the start of the lease, but what happens at the end. In this Billboard Mastery podcast we’re going to review the strategies regarding how to handle what happens at your ground lease’s conclusion.
All About All-Night Lighting
Some billboards have no lights, and others are lighted from dusk until midnight. But in rare cases, some signs are lighted from dusk until dawn. In this Billboard Mastery podcast we’re going to review the reasons and complications of lighting billboards all night.
How To Operate With Maximum Efficiency
There is a maximum level of net income that every billboard can attain, but few hit those numbers. In this Billboard Mastery podcast we’re going to explore the normal categories of revenue and expense maximization that every sign should adhere to, along with tips on how to get there.
All About Tiny Signs
In the advertising business, bigger is always better – but sometimes “big” is not an option. City and state laws can sometimes alter the playing field with only small signs possible. In this Billboard Mastery podcast we’re going to review the playbook on making money with tiny signs.
What To Do When New Billboard Construction Is Banned
Some cities allow new billboards to be built, while others don't. And when new billboards are banned in a city you have to make a decision whether to give up or attempt to get a variance. In this Billboard Mastery podcast we're going to explore how to make that decision and how to successfully obtain a variance for new construction
Playing With Numbers
Hyperbole is typically gaslighting with words, but in the billboard business it is more commonly done with numbers. In this Billboard Mastery podcast we're going to review methods of presenting numbers to get the desired results
All About Offsets
When building a steel monopole structure there is an option to place the pole places except directly under the sign faces and this is called an "offset". In this Billboard Mastery podcast we’re going to explore the concept of "offsets" and what you need to know to use this tool effectively.
The Implications Of The Sale Of Clear Channel
Clear Channel Outdoor has is selling and, if the deal closes, their stock will be delisted from the stock exchange. In this Billboard Mastery podcast we’re going to explore this massive deal and what the implications are for the billboard industry going forward.
The Dangers Of Guessing
Billboards are giant assets, often weighing in at over seven tons. The typical ad face is bigger than a tiny home. When dealing in this type of massive size, you can’t afford to make even a minor error as it’s impossible to fix. In this Billboard Mastery podcast we’re going to explore inexpensive options to take the guessing out of some of the big decisions billboard owners have to make.
Things You Should Never Try To Do Yourself
DIY (Do It Yourself) seems like a great way to save money, but working on your house is a lot different than a billboard sign. In this Billboard Mastery podcast we’re going to review what you can – and can’t – apply your DIY skills to.
Tough Negotiators
Some property owners are hard to work with – and some are nearly impossible. In this Billboard Mastery podcast we’re going to review some practical strategies to get deals done with the hardest negotiators, as well as when to simply walk away.
How To Remove Obstructions
When a billboard can’t be seen from the road, its importance to advertisers is diminished or even eliminated. Yet many billboards are blocked by objects that could, with the proper strategy, be eliminated. In this Billboard Mastery podcast we’re going to explore the options to remove obstructions.
The Dangers Of Talking Too Much
There is a time to talk and a time to listen – but there’s also a time to talk a little less. In this Billboard Mastery podcast we’re going to review when to hold back on talking and how to get straight to business in order to get deals closed.
Why Signs Are As Close To "Mailbox Money" As You'll Ever Find
There are few income streams more passive than owning a billboard. In this Billboard Mastery podcast we’re going to explore how you can make outdoor signs into your own version of “mailbox money” as well as strategies to get started.
The Good And Bad Of "Cigar-Butt" Signs
Warren Buffett’s partner Charlie Munger once criticized Berkshire Hathaway’s early focus on what he called “cigar-butt” investing. Yet it’s a philosophy that also holds true for billboard signs. In this Billboard Mastery podcast we’re going to explore what “cigar-butt” signs actually are and their advantages and disadvantages.
The Importance Of Staying The Course
One of the most important attributes in the billboard industry – and life – is persistence against all odds. In this Billboard Mastery podcast we’re going to explore the importance of “staying the course” and not giving up, as well as some methods to improve your steadfast resilience.
How To Ask For A Bank Loan
There’s an old saying “it takes money to make money” and often times that money comes from a bank loan. In this Billboard Mastery podcast we’re going to explore how to obtain a bank loan to build or buy a billboard, as well as some non-bank alternatives.
Things Business Books Won’t Teach You
In honor of Veterans Day, in this Billboard Mastery podcast we’re going to explore some of the significant strategies to be found in books on military history and how they apply to the billboard industry. While business books have good lessons learned, the significance of military engagement and its life-or-death impact has yielded much more pronounced theorems on success.
The Billboard Owner's Lifestyle
Owning billboards is unlike most every other business. In this Billboard Mastery podcast we’re going to explore the unusual lifestyle of most billboard owners and review the reasons for this unique style of business.
The Laws Of Negotiation
Every billboard deal begins and ends with a successful negotiation of terms. But many people don’t understand the mechanics of these transactions and the science behind them. In this Billboard Mastery podcast we’re going to explore the art form known as American contract negotiation.
Tricks To Stay Out Of Harm's Way
The worst thing that can happen to any billboard is to end up being torn down for property redevelopment. In this Billboard Mastery podcast we’re going to explore some of the real-life tricks you can use to minimize your exposure to this risk.
Why I Drop A Dime Down Every Hole
Tiny habits can yield big consequences. In this Billboard Mastery podcast we’re going to review some simple habits that can reinforce important moments in building a successful billboard.
When To Be Loose – And When To Be Tight – In Documents
Although a good contract sets in stone the terms of your agreement, some things should maybe not be chiseled in as hard. In this Billboard Mastery podcast we’re going to review the times that there should be little room to maneuver as well as when you should give yourself plenty of leeway.
What You Want To See In A Location
Whether you’re buying an existing sign or building a new one, everyone wants to avoid investing in a “loser” location. In this Billboard Mastery podcast we’re going to explore the attributes that have proven to be good indicators of success, as well as those that are a warning sign.
Where The Industry Went Wrong
The stock of Clear Channel Outdoor went for around $30 a share in 2007 but today trades for only around $1 a share. What went wrong? In this Billboard Mastery podcast we’re going to explore how the billboard industry made some fatal moves years ago, and how you can learn from their mistakes and build your business the correct way going forward.
All About Three-Dimensional Ads
Most billboards, when viewed from the side, are flat. But some billboards have large objects jutting out from them. In this Billboard Mastery podcast we’re going to explore the world of 3-D billboard designs.
All About Bartering
We think of billboard revenue as being strictly in dollars, but for decades some operators have garnered income in barter, as well. In this Billboard Mastery podcast we’re going to examine how you can use barter – exchanging goods and services – as a productive way to fill your vacant ad space.
Lessons Learned On Lights
Most billboards – but not all – have lights to make their ads legible at night. In this Billboard Mastery podcast we’re going to review all the lessons we’ve learned about lighting billboards and how to make the best decision on what type of lights to use – or if you need to use any lights at all.
Steel Vs. Wood
There are two basic construction methods on any billboard: 1) wood or 2) steel. But which is correct? In this Billboard Mastery podcast we’re going to review the methodology to determine which type of material to use and what the benefits and disadvantages are.
Why I Love Recessions
A recession is defined as “two consecutive quarters of negative GDP”. With Q1 of this year at a negative 0.3%, all it will take is a Q2 negative number to trigger a recession. While many fear this outcome, I have found recessions to be great opportunities to expand your business. In this Billboard Mastery podcast we’re going to review the benefits derived from an economy in transition.
Recession-Resistant Advertisers
The U.S. economy seems to be slowing down, and even if it does not hit the "recession" threshold it’s important to understand what to do if it does. There is a strategy to renting billboards in tough times that revolves around certain advertisers and methods. In this Billboard Mastery podcast we’re going to explore successful "recession-resistant" marketers and how to attract them.
Don’t Get Complacent
The difference between big companies and small players is that one never sees the opportunity and the other takes advantage of every opening. Yet sometimes the small player can start to act like a big company and completely ruin their advantage. In this Billboard Mastery podcast we’re going to review how never to have a “big company” attitude.
Surviving Banking Reversals
Sometimes – even at the last minute – a bank can suddenly change its mind and retract their offer to make a loan. What do you do then? In this Self-Storage University podcast we’re going to explore why this occurs and what the correct steps are to mitigate this potential event.
How To Get A Wallscape
One of the most interesting types of billboard structures is the “wallscape” – in which the billboard is affixed to a masonry wall or similar fixture. By using the wall to hold the sign up, you save an enormous amount of money over a monopole, I-beam or wooden structure. In this Billboard Mastery podcast we’re going to explore how to successfully put together a wallscape deal.
The Science Of Color
Life is made up of colors and there’s a science to their selection when it comes to billboard designs. How colors interact with the human mind has been a big part of the research of the billboard industry as well as many other applications. In this Billboard Mastery podcast we’re going to explore the science of color to help create more effective billboards.
It’s Too Big To Guess
Billboards are massive and immovable. As a result, once they’re built, they’re built. Since the cost to move a billboard – even an inch – is thousands of dollars at best, it’s important to understand some simple tricks to make sure you’re not making a mistake in sign placement and construction. And that’s what we’re gong to explore in this Billboard Mastery podcast.
The Potential In Exurban And Supercommuter Markets
America is always expanding, and with that growth comes new opportunities to build billboards. In this Billboard Mastery podcast we’re going to explore the fast-expanding markets known as “exurban” and “supercommuter” and how to spot these hot advertising markets in advance.
Has The Tide Turned?
Billboard revenues are increasing in the U.S., after many years of weak performance due to a number of factors including competing advertising products, Covid, and corporate distractions from marketing to such initiatives as DEI. Now, suddenly, billboard rates of return are increasing. In this Billboard Mastery podcast we're going to explore why the sudden shift has occurred and if it's a
How Honesty Is A Strong Negotiating Tool
So the property owner wants too much ground rent. What should you do? How about just telling them the truth? In this Billboard Mastery podcast we’re going to explore one of the most powerful negotiating tools you have at your disposal: telling the truth in the strongest possible fashion.
Tips On How To Set Property Owner Compensation
The standard billboard ground lease involves trading the right to place a sign on the land in exchange for a monetary payment. But how do you decide that that amount should be? In this Billboard Mastery podcast we’re going to explore some techniques that help steer you towards a land rent that is fair for both parties.
Strategies To Own The Land Under Your Sign
The majority of billboards in the U.S. are located on leased land. But a tiny fraction are cases where the sign owner also controls the land underneath, which gives them unique stability. In this Billboard Mastery podcast we’re going to explore the strategies used to own the land as well as the sign.
Thoughts On "Founder Mode"
Thoughts On "Founder Mode" Elon Musk is known to go into a period of intensity when he starts a business called "founder mode". It’s all about time management and focus. In this Billboard Mastery podcast we're going to review what “founder mode” is and you how can adopt its attributes to further your billboard business.
Two Important Ways To Protect Your Ground Lease
After you’ve gone to all the trouble of getting your billboard ground lease signed up, you want to take all the steps possible to protect your creation, right? In this Billboard Mastery podcast we’re going to explore two different ways to better safeguard your ground lease and how to get those accomplished.
Your Best-odds Advertiser List
If you have a vacant billboard then your number one goal is to find an advertiser and fast. In this Billboard Mastery podcast we’re going to explore two “built-in” lists of advertisers that have perhaps your best odds of success.
What Would “Chainsaw Al” Say?
Albert Dunlap was a corporate raider and turnaround expert on public companies in the 1970s through 1990s. He had one simple motto: “sell, sell, sell and cut, cut, cut”. Although his life ended in scandal when there were allegations of accounting fraud at one of his projects, he was heralded as the original powerhouse in restoring profitability to companies that had run out of steam. In t
What Happens When A Property Owner Says No
To build a billboard you need a ground lease. And to get a ground lease you have to convince a property owner to agree and sign it. But what do you do when the owner says “no”. In this Billboard Mastery podcast we’re going to explore the next steps when a property shoots your presentation down.
How Advertisers Have Changed Yet Remained The Same
A billboard is nothing without a paying advertiser on it. And the types of advertisers have changed over the years and are still evolving. However, there are many attributes of successful billboard advertisers which always remain the same. In this Billboard Mastery podcast we explore what those traits are.
Methods To Weather The Storm
One of the big risk factors with billboards is extreme weather. But is there a way to strengthen signs to better withstand higher wind levels? In this Billboard Mastery podcast we’re going to review the methods that be used to make signs stronger and to mitigate the risks from heavy storms.
Why All Good Leases Have No Official End Date
Most agreements have a definitive start and end date. But a good billboard agreement should never have the latter. In this Billboard Mastery podcast we’re going to discuss how to construct leases that never end.
Out-of-home Is More Than Just Highway Signs
Billboards are only one segment of the “out-of-home” advertising industry, but the business model is the same in all of the options. In this Billboard Mastery podcast we’re going to review additional concepts to apply the billboard concept for continuous cash flow.
All About Typestyles
Billboards are all about being read. And the typestyle you chose for the advertisement can have a huge impact on how effective the sign will be. In this Billboard Mastery podcast we’re going to explore he world of typestyles and review what science tells us about what the correct lettering should look like.
Revisiting Combo Signs
With inflation and a troubled economy, many advertisers are trying to economize and one of the best ways to facilitate this is with a “combo” sign framework. In this Billboard Mastery podcast we’re going to review how a “combo” sign can be a blessing in tough times and what the key tips are to make them successful.
How To Be Inclusive In Negotiating With The Property Owner
When it comes to negotiating a winning billboard ground lease with the property owner, there are a number of different styles and strategies. But probably the most effective is the concept of “inclusive” negotiation. In this Billboard Mastery podcast we’re going to explore what “inclusive” negotiating is all about and why it is probably your best shot at getting great deals done.
The Science Of Fixing Obstructions
Blockage can kill a billboard’s value, but are there methods to bring those blocked signs back to life? In this Billboard Mastery podcast we’re going to discuss the science behind dealing with obstructions and share stories of signs that went from blocked to un-blocked using effective strategies.
Making Billboards Blend In With Their Environment
While you want the advertisement to be dominant, you don’t want the billboard structure to be seen at all. In this Billboard Mastery podcast we’re going to explore the different methods to make the billboard structure virtually disappear with the goal of convincing the property owner that the sign will not interfere with the appearance of their land and buildings.
Why Signs Aren’t On Roofs Anymore
There are many spots you can place a billboard on – including walls, benches, and telephone poles – but there’ one place that most cities in the U.S. have outlawed: building roofs. What used to be one of the mainstays of billboard placement has been blocked from new construction for decades. In this Billboard Mastery podcast we’re going to explore what happened to roof mounts and why it’s
How Small Is Too Small?
Most people think of billboards as being big, but sometimes they come in a smaller sizes. When buying or building a billboard, when do you hit a level in which the sign has no economic value? And how do you rent signs that are smaller than their competitors? In this Billboard Mastery podcast we’re going to explore how to apply science to the issue of smaller signs.
How To Improve Your Expression Of Numbers
When you are trying to persuade someone, how you express numbers is an extremely important part of your success – and that’s particularly true in the billboard industry. In this Billboard Mastery podcast we’re going to review the importance of the optics of numbers and how to get what you want by manipulating them.
All About Saving Gas
Gas is expensive and there’s no reason to waste it. And time is even more valuable. In this Billboard Mastery Podcast we’re going to review some methods to cover territory more efficiently and more respectful of your time and money.
Forging The Correct Advertising Lease Length
One month is too short and a century is too long. So what is the correct lease length for your advertiser? In this Billboard Mastery podcast we’re going to review how the length of lease can vary with the type of advertiser and what is required to make the sale.
All About Renting Non-lighted Signs
Some signs have lights and some signs don’t. But a non-lighted sign should not necessarily spell doom for getting it rented to a good-quality advertiser. In this Billboard Mastery podcast we’re going to drill down on the topic of non-lighted billboards and offer some productive tips to help you get them rented faster and for more money.
The Joy Of Cigar Butts
Warren Buffett has long discussed “cigar butt” investing and how it contrasts with his favorite: “value investing”. However, there is much to like about “cigar butt” investing. In this Billboard Mastery podcast we’re going to review Buffett’s concept and why billboards offer a great entry into that type of high return/low cost investing.
How To Find A Wooden Sign Contractor
Wooden billboards have been around for over a hundred years, but finding someone to build these time-proven signs grows more difficult every year. In this Billboard Mastery podcast we’re going to review the different places to find contractors who can build wooden signs including tips on building them properly.
The Whole Industry In One Simple Formula
The fundamental law of economics is “supply vs. demand” and that same formula holds true for every aspect of the billboard industry. So how can you apply this metric to every single part of the billboard business to determine what’s of value and what’s not? That’s our topic for this Billboard Mastery Podcast discussion.
How To Rent Any Billboard In Five Easy Steps
Every billboard has a natural advertiser if you can just help them find the sign. In this Billboard Mastery podcast we’re going to show you the five easy steps to finding the right advertiser for your billboard as well as explain why they’re so effective.
Motivating The Landowner Who Thinks Money Doesn’t Matter
When you’re trying to lease ground space to build a billboard you occasionally run into the property owner that declares that “money means nothing to them”. How do you counter this argument? In this Billboard Mastery podcast we’ll review some strategies to get these type of personalities to move forward and sign the lease agreement.
Think Like Elvis
Elvis is not someone that you typically consider as a source of wisdom, as his life was kind of screwed up and he died at the age of 42. However, Elvis did have some winning quotes and one in particular serves as a reminder to think outside the box. In this Billboard Mastery podcast we’re going to summon our inner Elvis and review one of his best quotes and how it relates to billboards.
Nobody Ever Went Broke Taking A Profit
I received a call recently concerning an offer that was made to buy a billboard with the seller asking me “should I sell”? In this Billboard Mastery podcast we’re going to review the methodology to deciding whether to sell or not. Sometimes knowing when to sell is as important as when to buy, and we’re going to unlock the correct way to do it.
Keeping A Leash On Your Attorney
Sometimes you have to craft a custom agreement with the landowner. Or a new advertising lease. Or maybe you need some loan documents reviewed. In each case you hire an attorney and wait in terror for your bill to arrive. In this Billboard Mastery podcast we’re going to review some simple steps that allows you to stay in control of your legal cost.
Understanding CPM
“CPM” stands for “cost-per-thousand” exposures. It’s an important metric that many advertisers use to evaluate different advertising options so it’s vital that you understand how it works – as well as the loopholes that nobody talks about. In this Billboard Mastery podcast we’re going to review how CPM is calculated and everything you need to know about it.
What To Do When An Advertiser Won’t Pay You
There’s no purpose to renting a billboard if you don’t get paid for it. And sometimes the advertiser’s check doesn’t come in and you start to panic. In this Billboard Mastery podcast we’re going to review the steps to take and how to solve the situation without losing the advertiser as a good customer.
Helping Advertisers Get Creative
A billboard is only of value if it makes money for the advertiser, and that requires a good marketing message. But how do you help the advertiser to get “creative” in the correct way to market their product or service? In this Billboard Mastery podcast we’re going to review some constructive techniques to create successful ad campaigns.
How The Death Of Radio Will Help Billboard Investments Immensely
Radio is under attack when it comes to listening to it in automobiles. AM is no longer offered in electric vehicles and many manufacturers are considering eliminating it altogether to allow for more profitable concepts. What will this do to billboards? That’s the focus of this Billboard Mastery Podcast.
The Beauty Of Being Federally Regulated – And Hated
There have been very industries regulated by the U.S. government, and billboards are one of those few groups. But the hatred that many environmental groups have for billboards have actually created a huge amount of the value in the sign industry. In this Billboard Mastery podcast we’re going to discuss how being federally regulated – and hated – provides one of the best positions any indu
Fixed Vs. Percentage Ground Rent
How should you pay the property owner for allowing you to build and operate a billboard on their land? There’s two basic methods: 1) percentage of revenue or 2) flat amount. But how do you select the right option? In this Billboard Mastery podcast we’re going to explore the variables to constructing a fair deal for all parties.
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