This is a very good strategy. If you don't want to manage everything yourself, why don't we outsource it to people deserve a $5.
Here, take a look, lot at them.
Fiverr / Search results for 'flyers'

For the local business this is coming back in style, at least where I am located. I see people all the time outside holding signs either by the local business or out by the road. For the right type of business I think it can be very effective, for others, not so much.

I am not sure I would want to do it for my offline consulting though, but maybe that's just me. I guess if the results were there though, who could argue?