How To Buy A Radio Station
You can learn how to buy a radio station but it will require you to make wise decisions during the process. It will also help if you have a business background or can hire someone with business experience buying radio stations. You will need to assemble a team to help you make your radio business successful.
Things you'll need:
- Business Skills
- Financing or Cash
- Radio DJ or Host
- Volunteer to work at a radio station to find out what the business entails and how it is operated on a day-to-day basis. Read books and magazine publications about how to buy a radio station. Contact local radio station owners in your area and ask them how they bought their radio station and write the information down and utilize this information to help you get started.
- Contact a radio station business broker to help you buy a radio station. Call a radio station broker like Force Communications, (561) 231-8928 or (770) 565-4465, and ask to speak to a radio station business broker to help you find radio stations that are for sale. Phone a director of acquisitions and affairs—like the person who holds this positions at Public Radio Capital (720) 304-7274—and tell him you need assistance with purchasing a radio station. Take his advice and follow all his instructions.
- Search for the best deal with your radio business broker and the director of acquisitions and affairs to help you buy a radio station. Review and read all the paperwork with your team and make the decision to buy based on a business plan review by your team. Do not spend more on the radio station than you can afford to lose.
- Visit the radio station that you are going to buy. Ask the owner(s) who are the key managers that helps the business operate and ask how many employees work at the radio station. Make sure you find out the legal status of the radio station by making sure there are no outstanding lawsuits. Get to know the employees and work with them at the station.
- Follow the advice of your team to help you buy a radio station. Stay focused and listen to your team members as you get ready to buy your radio station. Have your team get all the financing in place so that you can purchase your radio station. Buy your radio station and make money.