Start Up Bait Shop Thread 2025

RobbyZ5001 reply :

Does anyone have the thread or can find the thread containing information about starting up a bait shop?

Sam reply :

Nope, sorry.

Do you think you could speak to another bait shop owner out of the geographical area where you want to start your bait shop?

They can give you all of the facts, the good, the bad and the ugly.

But it has to be out of your area as they do not need competition.

RobbyZ5001 reply :

Good advice Sam. I would do that a little down the line. Right now I am just trying to archive some information. I am young, and in college debt as it is. I would really like to have my own fishing business at some point down the line.

Muddy reply :

Hey Rob; we have a business search engine at Job Corps that may have some info to put you in the right direction, I will look tommorow at work for you.

RobbyZ5001 reply :

Thanks muddy that would help out greatly!

CRFisher reply :

I know diddly about running a bait shop but I can say - location, location, location. If you did start one you'll never be able to compete on price with the big boys so you'll need to be in a good location for live bait and last minute purchases selling what people left at home or in the other tackle box, etc..

I'd probably look into worm farming, tackle making, and reel repair as well to help your bottom line, offerings. If you could "grow/make" your own bait and tackle you would in theory cut out the middle man.

I'd also suggest looking for PT work in one so you can see what works, what doesn't, and how much you like it before starting your own.

Here's Cabela's recent quarterly numbers, bottom line they make less than 3% of sales as profits, http://biz.yahoo.com/e/080805/cab10-q.html Not really comparable but gives you an idea on what profit margins are in retail business.

Brad_Coovert reply :

RobbyZ....

Are you looking at starting a physical location or an online store?

I started an online store in 2005 and I will tell you, it is tough to grow without a good amount of start-up capital or a good credit line abd finding wholesalers can be very difficult.

I'm still small, but I am slowly adding products to the store. I really enjoy dealing with bass tackle and have learned a ton about the industry.

Of course I follow a rule that does keep my inventory smaller than it could be, I do not sell brands unless I personally use their products. I just cannot sell something I would not use.

If you have any questions, I'll be glad to help. Just shoot me a PM.

Brad

RobbyZ5001 reply :

I am forseeing this down the line, but I am really trying to get a handle on everything. I would really like to have it both physical location, and net sale.

George Welcome reply :

1: Most fail within the first year for lack of customers and working capital. You definitely need a major amount of cash-on-hand to make it. You need to eat/sleep/pay bills, as well as maintain inventory.

2: Location is of the utmost importance!

3: Hours - Sunday/Saturday: before daylight until dark/no down time if you want to succeed.

4. You would be best to buy something established rather than do a start-up. If you were to go the route of buying, beware of books presented. Have an accountant examine books and tax returns.

5. Learn everything you can about maintaining any live-bait situation. Keeping live-bait alive is a study unto itself.

6. If a spouse is involved make sure you have 150% approval as being self-employed is very difficult.

7. I doubt that you will find many that would give you information such as net sales, however if you do, take that information with a grain of salt. The best source for demographics is the local Chamber of Commerce.

Good luck if you decide to preceed with this.

Jig Man reply :

I have wanted to own one of those myself and have watched the area for many years and just can't pull the string on it.

I live in an area where there are 6 good lakes withing 100 miles with the Bass Pro Nat. Hdq. in the middle. Bait shops on most of those lakes have a tough time and bait shops in the little towns around the lakes come and go. Many of them mom runs the shop while dad guides or has a day job.

There isn't enough tourism to let the owners eat well in the off season and people in the area stock up at BPS and don't even stop at the little shops.

Competition with the big boys is really critical. A friend of mine was being interviewed by a nation mfg of baits for a rep job. When he asked about pricing the owner said the price is ... for 1 dozen. If they want 25 dozen we cut that in half. If they want 50 dozen we cut the 1/2 in half. Do it again if they want 100 dozen. So based on what he was told the small guy may be paying 8X as much as the big guy for the same thing.

RobbyZ5001 reply :

I agree 100% on the location aspect. The other huge problem is competitors. Zel and muddy know where I live, and the area I would be looking at. I would love to know their opinion on a new shop in the area. There is one big problem with my area, and that is there aren't enough tournament anglers.

One aspect I would like at my shop if I owned one would be carrying the gear other places like walmart can't sell you. High end gear such as the shimano/abu garcia/daiwa. One place that I could think of that would be perfect is in Scott's (fivebasslimit) neck of the woods on Smith Mountain Lake. I think I would need to open a shop near a well known tournament lake. When I was at SML there were a few shops nothing that special. If someone went in opened up a good shop with tournament grade gear, and the bait it would be a hit.

The ideal shop in my mind would be a gas station/bait/tackle/deli. Basically it is the one stop shop which people are looking for. They need to fill up their tanks, then buy a sub, then buy the magic lure of the day.

In my mind the "ideal" shop would be the most likely to be successful. The main problem with the "ideal" situation is the capital followed by the confusion of how it all works. With a gas station, and a deli you would be talking a whole new sort of legalities, and paperwork that I have no idea about.

I am just tossing ideas around. I am surprised none of you have attempted to open up a shop yet.

Grey Wolf reply :

It's just this simple , most of them fail unless you buy an established business that has a good clientel already built up.

Raul reply :

Quote
I am surprised none of you have attempted to open up a shop yet.

I owned a tackle shop, it seemed like a a good idea taking in consideration that I had some money and that there were no "real" tackle shops in the city; yes there 's quite a bunch of fisherman in the city, I know about tackle, I know where to purchase the tackle at a good wholesale price, no minimum order, good extra discounts by volume, purchased a big bunch of baits, rods & reels. The dream lasted for 3 years and had to close because incredibly the sales weren 't good and take into consideration that I didn 't have to pay rent, if I had to pay rent I would have closed it earlier. Still have some of the stuff I purchased around ( about 3,000 dollars worth of merchandise ).

rondef reply :

If you are looking into having gas pumps there are a lot of hidden fees if you don't buy an established business. You will need to find a site where you can get town/city/county approvals for the gas station, enviromental concerns come to mind. Also there could be franchise fees to the oil company that is supplying fuel to you. You really need to think this through the up front costs could be quite a bit of money.

LadyRattleHead reply :

I guess, I will give my two cents on this, on the lure stocking aspect anyway, since I deal with mom and pop retailers.

Most of the basics have been covered, but thought I would add that for you to compete with BPS, etc. you would need to sell good quality lures, etc. that they don't sell. And, since most of the baits that they sell are manufacturered overseas you might want to look for Sm. American manufacturers. Many Sm. Am. Manufacturer do not enforce their miniumum orders, but will charge you shipping on a small order. Most sm. manufacturers will also expect you to pay upfront on your first order, and then if your credit app. is approved, offer you a 30 day credit for subsequent orders. In addition, there are generally 4 price ranges. 1) Lg. Distributor, 2) Sm. Distributor/ Lg. Retailer 3) Small Retailer and 4) end user. The general profit margin of any product for a retailer is between 25% to 40%. Last, most sm. manufacturers do not enforce. msrp's. But, be very careful on pricing for if you price products too high, you will price yourself right out of business.

In addition, you will probally need to look for a few local custom manufacturers and sell their products in your store.

Regardless, be prepared for working 24-7 and a huge expense. Most businesses do not make a profit for 3-5 years if they ever make a profit at all. Thus, as with anything, my best advice is too have a fallback plan that will feed you and your family.

warmer reply :

Retail is tough, i've turned my belly up a couple of times doing it. My friend bought out an existing tackle shop w/ a reasonable client base. He bought it for less than 1/4 of the wholesale inventory value. he just took his first vacation in 3 years, he works 12 hours a day 6 days a week, and doesnt make a good living at it yet.

I would say that the he has done better lately as a result of "value added" kinds of services. buying big lots of tackle and selling it on the sidewalk for "clearance" prices on sundays. doing rod and real repair. and on.

i am pessimistic, but im in florida where the bloom is off of the economic rose (im a out of work homebuilder.)

RobbyZ5001 reply :

Is there anyone here that HAS made it in the retail business? If so could you state why you think you succeeded? I think there are a ton of different ways to build clientele, promotional ideas, and other services other then bait/tackle.

Muddy reply :

Hey Rob, no luck in my search at work. I only found 2 sites dealing, vaguley with starting an on line tackle store.

Please listen to the other more knowledgable folks on this thread. My 0.2 we had 5 shops in the surrounding area. Wal Mart has 2 super centers close by now and Cabelas is 32 miles from here, over the last 2 years that number has dropped to 2 stores.

The four Seasons in Jim horpe and Bob's in Hazleton, even Wally World has downsized it's fishing Dept. The 2 stores thriving both sell guns and that seems to be their main income.

Jig Man reply :

You might consider putting some stuff in an established business like a C store on the way to the lake. Cut them in for a part of the profit and see how it goes. That is the way Bass Pro Shops started out. Johnny had both sides of an isle in a liquor store, then in 2 stores, then three, then bought an old bowling alley, etc.

Now he is worth a gazillion dollars. He even gave his kid a jet airplane and pilot for his 21st BD.

RobbyZ5001 reply :

Jig Man that is a good idea. I am unsure how that would workout though. I would be worried about theft, knowledgeable people to sell the gear. It is an interesting concept, but seems incomplete.

Muddy I know a few within decent distance from Mauch Chunk I know of quite a few.

Buck's sporting goods- hunting/fishing/bait decent but $$$$

A&C bait- ran out of a ladies garage nice store carries essentials cheap bait

B&C- Cheap minnows buy by the pound

Wal-Mart- Enough said

Joe's shop in Lehighton- President from team bass again $$$$

Wacky Worm- Better than cabelas hands down in broadheadsville

Four Seasons- You know how it is.

There are places around, but most have some specialty. I would love to have the one stop shop.

maseyferguson05 reply :

You would have to be crazy to open a shop when the economy is in this bad of shape.

RobbyZ5001 reply :

I am a senior in college, and have all the time in the world. I want to really see my options, get some ideas, and get a handle on things.

Muddy reply :

You get this off the ground and you store will have my support! 8-)

I was talking about stores closer to where I lived the 4 Seasons being the one furthest from my house, sorry i should have explained that better.

Bassin_Fin@tic reply :

I am by far no business man but it seems to me that it is very hard to compete with the online market nowadays.Everything is just a click away and a credit card number.

E-bay auctions and set price items and an online store along with your shop would be a good idea.Problem is you would probably have to hire more help to keep up with the website and item decriptions,shipping orders,answering phones etc...

I know just the guy But I live clear down here :-/

wagn reply :

I've never owned a tackle shop but my family did run a small convience store for a few years right down the road from a large supermarket. We made money but it was tough work. You had to be there everyday, all day. Hiring employees for such a small shop was not really feasible or you would have lost a fair amount of profit. The key to the whole situation was location.

As for a tackle shop, online stores or BPS really do make things tough. Up by where I am in NH we do have one store that does pretty well. Northern Bass Supply. I think there are 3 reasons that they are so successful.

First they are or were tournament anglers. They know what they are talking about and really help you out unlike most chains i know of. 2nd, They carry high end gear that you can't get at the wal-mart or other regular retailer. There also are no BPS or Cabelas up our way yet. They don't have a physical chain store to compete with.

Thirdly. They do everything online as well as from the store. This lets them compete with the big boys online, but i can also drive over there and try out the latest reel if i want to.

Ask anyone in NH where to get quality bass gear, and there really is only one name Northern Bass Supply. Their reputation allows them to succeed.

Hopefully a description of this local successful store will give you some ideas on how to go forward. Good luck

dumb_dog11 reply :

Quote
It's just this simple , most of them fail unless you buy an established business that has a good clientel already built up.

even the established businesses started out on their own

Zel... reply :

PM sent

9421

Start Up Bait Shop Thread 2025

related Fishing Tackle topic

previous topic

next topic

most viewed Fishing Tackle topic