If you want to be serious, get a SQUARE reflector, especially if you're on a budget and need a good way to secure/position the reflector. With a square or rectangular reflector, you can put one edge on the ground,and prop the thing up using almost anything. Square or rectangular reflectors give you more surface area that actually reflects than round reflectors do. In a breeze or wind, round reflectors are a nightmare, since only about a 1 inch by 1/2 inch piece of flimsy plastic or fabric makes contact with the ground. WIth a square reflector, you put it down and the entire width of it makes contact with the ground, so you can "nail it down" with one or two turf spikes, and the damned thing will STAY put...whereas a round one wants to move, constantly.
SImilarly, with a square or rectangular refeltor, you can attach two legs, or another reflector at the top, forming what is known as a "Sandwich board" style reflector, similar to the signs people prop up outside of sandwich shops, or actually wear on their shoulders....you know, the signs that look like the capital letter "A" from the side???
With a round, collapsible reflector, you need some type of clamp/mount, a boom arm, and a stand, to do something that $1.59 worth of PVC pipe and $1.00 worth of heavy-duty wire spikes can do. The collapsible, round reflectors have really caught on because they are small and there are many,many cheap ones made in China. They're handy to carry, but they have a number of disadvantages,mostly related to positioning and the need for a lot of what's called grip equipment to do something very,very basic, which is to remain where they are put for more than 30 seconds.