Anonymous
Anonymous asked in SportsOutdoor RecreationFishing · 9 years ago

Are fishing supplies selling good?

I want to open up a business that sells fishing supplies like hooks, baits, lures, and so on. I want to make my own brand name and I was wondering what I would have to do to do this and if it would make me money?

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  • 9 years ago
    Favorite Answer

    If your initial investment is (at least) 6 figures, ($100,000 plus) you can make a decent income. However, the less you invest, the less you make.

    "Making" lures in quantity isn't cheap. Almost every lure currently sold in the US is made in China. Why? Cost. To make hard plastic lures you need an injection molding machine- these run around $50,000-$75,000.

    You can "theoretically" make money as a custom builder/painter of lures; but you won't get rich doing it. It's more of a "labor of love" than a serious money-maker.

    There are Soft Plastic's company's that will allow you to put your own brand on their lures- but you have to buy in "bulk"- again, not cheap.

    "Selling" fishing equipment? Where? On-line? Realistically, you would need to open a bait & tackle store to sell tackle. Again- not cheap!

    Like any business, how much you invest, how much time you take making your business plan and how much general effort you put into it is exactly what you'll get back.

    Hope this helps?

    UPDATE: Obviously, Black Night knows very little about the fishing industry, (sorry Knight- but its true).

    Getting hard plastic lures made without infringing on someone's "patent" isn't that difficult. For proof- check Ebay and all the "copy-cat", "knock-off", lures you can purchase that are VERY similar, (but different) than Lucky Craft 1.5's & 2.5's. Type a search on Ebay for "Custom Lure".

    The problem, (again), is the bulk price in actually making any injection molded lure. Typically, you have to purchase (at least) 500 in a bulk order at (roughly) $2.00 - $4.00 per lure. THEN you have to pay to get them painted and pkged-$$$$$$$$$. Why do you think a Lucky Craft lure is so expensive?!?! HOWEVER, it is totally do-able with the right amount of cash- and has nothing to do with any "patent issues".

    Many Soft Plastic's Company's, (For example- Strike King) have their plastic lures made FOR them from a major plastics company. These manufacturing company's sell THE SAME Soft Plastic's under a variety of different names. As an entrepreneur, you can EASILY get any large plastic's company to make and pkg you any one of their designs, and put YOUR company name on it- for a fee. The problem?

    Once you pay for the plastic's and pkging your (literally) making around 20-40 cents per bag. You've got to sell quite a bit of plastic's to make a profit. You could theoretically make your own plastic's- but again, the price on bulk plastic and re-usable injection molds isn't cheap. Again this has nothing to do with "patenting rights"......it's the initial start-up cost and the "gamble" your taking if your lures don't sell well.

    Baitshops are like convenient stores. If your in a good location and have fair pricing no-one can "band together and run you out of business". Can there be a "price war" on bait? Sure! But, it's rare. Honestly, the bait/tackle distributor sets the price on how much you can feasibly set YOUR retail price on bait and tackle at and turn a profit. Here is a common distributor you would deal with if you owned a B & T- http://www.bigrocksports.com/

    Bottom-line???- Having your own "line" of plastic lures or Crankbait's is totally do-able- you just need money and a design that sells, (or you think will sell). And owning and operating a Bait

    & Tackle is absolutely do-able. You just need a good business plan, a down-payment, and the ability to pay your monthly mortgage.

    Business is business, regardless of what you sell.

  • Anonymous
    4 years ago

    1

    Source(s): Wholesale Distributors http://enle.info/BestWholesaleDirectories
  • 9 years ago

    very detailed answer by ole. question is rather vague however, it could be interpreted as a wholesale manufacturer of bait and tackle products.

    most brand name tackle is specific to a limited number of products, for example a hook manufacture usually doesn't carry tackle boxes, and so on. However, an example of the brand name of coleman for camping comes to mind. they no longer manufacture anything rather, they mearly affix their brand label to products they feel worthy and collect royalties. this is a little closer to the middle part of your question.

    If you were looking to make a "brand name' product, you would typically be dealing with the manufacturing of the product, which ole fisherman touched upon, and the distribution of that product.

    this is usually accomplished by either convincing a wholesale distribute to make your product available to the retailer, or going "door to door" at various retail tackle shops, either through a salesperson you hire or doing it yourself.

    I cant think of any tackle shop that manufactures its entire contents all the way to the retail level, it would be counter-productive for many reasons, the most of which would have to do with a conflict of interest in carrying the same product, one of which you own.people like choices.

    it doesn't seem as though you're asking to open a retail tackle shop, based on your question, however, as another poster put it, this is a pretty cut throat business, and those who are established have many ways of keeping the majority of business to themselves. Ive seen really knowledgeable fishermen talk a lifelong hobby and ruin it by trying to make a buck off of it. not to discourage u in any way but this business requires a ton of capital, and working hours, no matter what aspect you want to try i.e. retail wholesale etc.

    So, if your sincere about opening a business, i highly suggest you take a few classes in business at your local college. ask a lot of questions, do your research, how much are permits, business licenses, rent etc. how saturated is the area you intend to do business in?is this a seasonal business etc.

    Remember, many people have made a small fortune in this business, unfortunately, they started with large fortunes

    Source(s): personal blunders
  • 9 years ago

    Own brand forget it! you could be infringing some companies copy right and that comes very very EXPENSIVE!

    As for setting up a tackle shop or company how many do you have in your area?

    if you have more than a couple of tackle shop and more that sell tackle as a side line then your dreams of making money at it fly swiftly out of the window!

    Established shops will if necessary band together to force new comers out of Business!

    Its a dogfish eat dogfish world out there!

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  • 3 years ago

    2

    Source(s): List of Online Suppliers http://WholesaleSuppliers.netint.info/?eohQ
  • 9 years ago

    Wel first of all , make store near a popular fishing area if you can , i think thats what gives more succes to a fishing store.

  • Anonymous
    9 years ago

    Depends where you are I worked at a place that closed down in less then a year because nobody was buying anything.

  • Anonymous
    5 years ago

    Where are you located? If you are located in the Dallas/ Fort worth area, I might be interested in buying the 55gal if the price is right. If you are near me contact me with the price info.

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