Is an advertising agency operating on the principle of contextual advertising in real life profitable?

Question

Startups

The idea was already implemented in another city, but I heard about it quite by accident. When looking for like-minded people, a couple of people said that the project was interesting, but it would not bring much profit. I would like to hear the answer, is it really possible to get a fairly good profit from an advertising agency that provides advertising space on the principle of "Context advertising"? Briefly, its essence is as follows: in various crowded places (on one or several, but a certain sign, for example, a gym, or a medical institution), useful information is placed ("Examples of exercises for muscle groups of the legs", "Schedule of the body") etc., and information about partners will be placed directly next to it. It is planned to receive profit from advertisers.
I welcome any criticism, as well as proposals for cooperation.

Answer 1

it would be silly to advertise competitors at home,
it is logical that the main contextual advertising for the gym is another gym

Answer 2

You offer exactly an advertising platform for advertising partners.
Tell us about the idea in more detail - what kind of advertising medium, who will pay for it? How will you track the conversion?

Answer 3

In fact, it's been around for a long time. Well, they take, of course, not for clicks, so context can be called a stretch. But you go into a bridal salon - you will certainly see a glossy thick magazine, consisting of 95% of advertisements for flowers, dress shops, etc., look into a hardware store - there you will most likely be waiting for a rack with construction magazines and addresses of construction companies. At least in Perm, I see this quite often.