Opening A Fishing Store 2024

Boett43 reply :

I just started my first year of college and I decided to try and pursuit my dream of owning my own fisihng store and i just wanted to get people opinons that have done it themselves and if people think i could eventually make a good living with the store..Any thoughts Will be Read Thanks Big B

Raul reply :

Reason why Mom n Pops tackle store are an endangered species that should better be placed as CITES I appendix is because they just can 't compete with the big guys, they can 't compete in capital to make investments in merchandise, they can 't compete in price with the big guys because their purchases just can 't reach the really good discounts in volume and quantity which could make them offer a more competitive price to the consumers, they can 't offer the quantity of products the big guys can, the ammount of cash you need to invest is monstrous.

I owned a tackle store not really to make a living out of it, my sources of income are others, I did it for my passion of anything fishing related; I invested 10,000 dollars in merchandise and only purchas 2 of this one, two of that one, one of this, one of that and so on, 10,000 bones is some money anyway you look at it, after 3 years of operation I had to close, why ? BPS is just a click away and BPS has a whole lot more stuff that I could offer, not to mention that it 's impossible to compete with their sales even though I carried their brand.

5bass reply :

Location, location, location...... picking the absolute best location should be one of the bigger priorities. There are many factors to consider when choosing your location. Traffic, competition, lakes or rivers close by?, demand etc....

I wish you luck and I hope you get rich!

Randall reply :

I agree with the fact that you have to have the perfect location. I looked at purchasing a tackle shop about five years ago and decided that where I live (Atlanta area) there was no way I could turn a profit. You have to have little or no competition in the area of the store and a high volume of fishermen coming through to make anything. Theres very little profit per item on fishing equipment.

Boett43 reply :

Thanks everyone im in MD and theres only one BPS i know of and the city i live in there is only one tackle shop soo now its just me getting some more knowledge on opening a buisness i cant stop comming up with ideas haha i know its a long shot but its a dream i willing to chase for awhile THanks Keep the thoughts Comming

cart7t reply :

The couple of small operations that are making it in my area have as much or more hunting equipment than they do fishing. Fishing sales are alright for around 6 month's, the other 6 months the hunters take over.

Boett43 reply :

yeah an all around outdoor store seems the way to go just another thing to think over...

YankeesWin reply :

Quote
Location, location, location...... picking the absolute best location should be one of the bigger priorities. There are many factors to consider when choosing your location. Traffic, competition, lakes or rivers close by?, demand etc....
AMEN!!!! LOCATION The location must be PRIME! or you will eventually loose to the "big box" Outside of that you will need to develope a devoted clientel. This takes time, and money, when "overhead" is considered.

The point is... If you can establish a clientel that will come to you for service and knowledge, combined with product at a "fair" price, they will be back, and that is what it takes to make it in small business. Service, Knowledge, and a "Fair" price.

But if you have all that, and you don't have LOCATION... You're bustin' your butt for fun, and not money. (just my two cents)

guest reply :

Don't even consider this untill you have worked a bait & tackle shop for at least 2 years.

It is so easy to look from the outside and only see the attraction.

Bait stores have terrible hours, they smell, you have guys hanging out, others trying to bleed you for knowledge without spending a dime etc.

You can't fish the big torunies because you have to keep the store open for the guys who took the take off from the office or body shop to fish.

and so on and so on and so

did I mention the smell?

Boett43 reply :

Dont take this the wrong way Mr. Avid but i love every aspect that you just metioned i love talking to the old timers and listeing to their stories and telling people about my fishing experience and i dont fish tournies soo thats not big deal i just love every aspect of fishing i cant get enough of it . Its on my mind all the time.. :)Big B

volpster31 reply :

i think location is definately key....but if you could get a following of regulars you might do o.k...

i live in n.j & there is a store in a terrible location ,but they have a good stock of items & if you place your bass pro order thru them,you get a 10% discount & free shipping.i dont know how they make money with that ,but theyre still in buisness.

LakeAnnaBasser reply :

Yes the LOCATION is huge. where in maryland are you thinking about opening this tackle shop.

Boett43 reply :

i wonder too how they would make $$ that way any regualtors on here know how they would make money that way...

Boett43 reply :

Well i currently am in frederick if you know anything about that area its about an hour from BPS and there is a small tackle shop downtown what are your thoughts on this area if you know about it

RWHusker. reply :

If your not connected to a lake with guides your all but screwed. Fishermen for the most part are cheap, our local tackleshop, which by the way sponsered the weekly report just went under after the opening of a BPS and Cabela's. As Avid and Raul said this may satisfy a passion but hard to build a 401k. Go make your fortune and fish for fun.

GO BIG RED

YankeesWin reply :

Big B,

Please understand the depth of knowledge from which Avid speaks.

Consider working 50-70 hour weeks running your own shop. Busting your chops, wishing you could get on the water while you listen to those same "old timers" whine cause you don't have the same bait they used to use in '52.

Jumping into your own business takes much, much more than money or "want" !! A little experience goes a long way, and working your way into the business is the best way to start.

Many, Many people have had DREAMS of their own shop. "Wouldn't it be nice" It's never as sweet as it might seem, and you shold smell some of the crap that goes along with it before you pick the flowers.

tyrius. reply :

Quote
I just started my first year of college and I decided to try and pursuit my dream of owning my own fisihng store and i just wanted to get people opinons that have done it themselves and if people think i could eventually make a good living with the store..Any thoughts Will be Read Thanks Big B

The biggest problem is that your "Eat-Fish-Sleep-Fish-Repeat" quote will turn into Work-Sleep-Work. Owning a small business take a ridiculous amount of time and can rapidly sap the enjoyment from one's hobby.

LakeAnnaBasser reply :

If you do open one you would have to open real close to the potomac river. Id say the best place would be near mattawoman creek abecause they have a really heavily used boat ramp. But your more upper potomac.

guest reply :

Quote
Dont take this the wrong way Mr. Avid but i love every aspect that you just metioned i love talking to the old timers and listeing to their stories and telling people about my fishing experience and i dont fish tournies soo thats not big deal i just love every aspect of fishing i cant get enough of it . Its on my mind all the time.. :)Big B

I don't take it the wrong way at all. But you make my point.

You are talking as someone who loves the sport of fishing.

Why spoil that by forcing yourself to rely on it for a living?

You see it as a way of being close to something you love.

There is logic to that. But trust me on this one.

After a while it becomes a job like anything else.

(time to make the donuts)

jwo1124 reply :

I only have a couple things to chime in about. First, I always talk to the lady who runs the local Bait and Tackle, and the poor women never gets a chance to fish. It seems like when everyone else is out fishing, she has to be there to run the store. Now you can always hire help, yadda yadda, but that's more money, trust issues...etc. Second of all, when was the last time you went to the local Bait and Tackle for anything other than a box of crawlers, some shiners, or a last minute Item you needed for a day of fishing? I never buy any of my gear or tackle from the bait and tackle shops. I know it sounds bad, you should support local business. But bait and tackle shops are over priced, they don't carry a wide variety of tackle, they don't have sites on the web you can browse. Most of the gear is back behind counters, you can't really rummage through it like other stores where there are walls and walls of lures and stuff.(that's one of the reasons I like going to the big stores in the first place. ) Once in awhile I stop in, buy some shiner for some bait slinging and make small talk. See what the biggest catch lately is, etc. But I don;t see how you can make a real good living with it. Then again this is up in Northern Mass in a pretty urbanized city. I figure in a more rural setting a B&T may do better. I dunno, it's a lot of thinking. Owning your own business no matter what it is, is a lot of stress, pressure, $ and risk. Are you ready for all of that?

I would guess that back in the day, 30 years ago when most fishing was done with minnows or worms, Bait and tackle stores were a booming business. But now, it's all about the newest lure, rod, reel. And that's the stuff you get from outdoor retailers like BPS or cabelas. Or go to Dick's sporting goods for. You'll still need a place to go and get bait from, since the retailers don;t reguarly sell shiners, frozen bait, leeches, crawfish, etc. So I don;t think they'll even not be around as long as fishing is here(or until big business finds a way to capitalize and profit from such items)

But in the end, it's your own decision. Anyway, you jsut started college. Concentrate on getting: drunk, laid, and passing grades(no one says you need to get straight A's) And make sure you make time to fish. I'm sure after a few years of college under your belt you'll have a better idea of the big picture when it comes to operating and owning a business. But like KVD says: never stop dreaming.

David P reply :

Quote
Dont take this the wrong way Mr. Avid but i love every aspect that you just metioned i love talking to the old timers and listeing to their stories and telling people about my fishing experience and i dont fish tournies soo thats not big deal i just love every aspect of fishing i cant get enough of it . Its on my mind all the time.. :)Big B

You love every aspect of FISHING, but you won't have time to be fishing for the most part, you will be working.

I can understand how it could easily be many of our dreams to work at a fishing store. But I'd rather work 30-40 hours, and make good money.

Why not get a business degree, and open up a BPS or Cabelas franchise? I'm not sure if that's how they work, but many franchise type stores do this. Or become a manager at a BPS?

Any Mom n Pop place, grocery store, fishing store, gym, EVERYTHING is going to continue to decline until they're all gone. With places like Wal-Mart, Target, and about 20 others, it's just going to get worse.

Get rich another way, then open up a tackle store where you don't need to make money to survive, and it will just be for fun and you can keep the hours small. 5 days a week 11-6 or something.

Hope this isn't shattering your dreams, it CAN be done but just needs to be done a smarter way. It's not just Invest money and then bam you have a shop.

roadwarrior reply :

If you want to be in a fishing related business, start out with one of the major players, retail or wholesale. After a couple of years you will have a much better feel for where you want to be and what you want to be doing. I can assure you though, a free standing, independent fishing shop is NOT the ticket.

I do know a couple of people that have a reasonably profitable baitshop operation. However. the "baitshop" is just a sideline, the money is driven by the "real business": quick stop, gas station, snacks, light restaurant and owned by a very well known and established guide/ guide service. On the main highway, a mile or two from the dam (lake and river), next to several cafes, marine shop and motels. Still, with the perfect location and all this going, the "baitshop" is just a component of the total mix.

Good luck!

Sam reply :

Boett43,

The guys have some outstanding advice for you to consider.

Please let me add my two cents.

1. The retail business is tough. Long hours; working over the holidays; lots of paperwork; overhead can be a killer; taxes suck; landlords are a pain in the fanny; insurance is not expensive but if it is not written correctly you could suffer a serious financial loss; lots of stress on self and family.

2. Do your research regarding the location. Location, location, location. The secret to a successful business. And put into the location formula the distance from your home to your store. You will be traveling to the store in very bad weather to make sure your live stock of minnows and gold fish are OK.

3. Service. Small tackle shops offer service and advice you cannot get at Bass Pro Shop, Cabella's or Gander Mountain. Staff has to be friendly and knowledgable. That is why I go to the smaller tackle shops - to purchase what I need and to talk to the sales staff about what others are buying and the body of water I will be fishing. And employees are your worst nightmare. Attracting and retaining valued employees is the greatest challenge to all businesses.

4. Money. You can make a lot of money in the retail business. However, be ready to share it with your employees and the tax collectors.

5. Banking. You will need financial support. Shop banks for the start up money. Be ready to put your house up as collateral. Be ready to have your wife sign the papers, too. Have a written business plan. You can see them on the web to get an idea of how to put one together for your bank.

Overall, I would love to start a high level tackle shop featuring only the high end fishing products.

But as I think about it I really do not want to give up my time and put myself and family under the added stress of starting a business.

But follow your heart, with some input from your brain and from others in the business, from those who have their own retail store and your family.

Always remember that owning your own business is very gratifying. The gratification comes with some baggage. If you are ready to accept and address this baggage then go for it.

Good luck.

Sam reply :

Part 2...

I just thought of some other items to share with you.

Work in the industry or at a store that does the same thing you want to do.

Friend worked at a florist shop before he started his florist store. He now has a chain. His wife used to sit in her car outside different florist shops and write down the names of the delivery trucks to find out where they got their flowers. He and she are both University of Richmond graduates.

I worked for an insuance consulting firm for eight years and started my company based on what I had learned. So far, so good.

Take business courses in college. Speak with your professors about the retail business.

And get to know people. You will find out that it is not what you know but who you know.

And don't be in a hurry. You have lots of time to decide what to do and to raise the capital to do it.

But once you get married it is a whole new ball game. So plan accordingly.

Get that degree. It is a door opener and no telling where it will lead you.

Good luck.

uncle joe reply :

Quote
I agree with the fact that you have to have the perfect location. I looked at purchasing a tackle shop about five years ago and decided that where I live (Atlanta area) there was no way I could turn a profit. You have to have little or no competition in the area of the store and a high volume of fishermen coming through to make anything. Theres very little profit per item on fishing equipment.

The exception being Ted at the dugout, I don't think there is a serious fisherman in Atl. that hasn't been there.

RobDar reply :

now now now...

I kind of agree with the "cannot compete with the big boys" and the death of the mom and pop store...and kind of don't...

The key here, I think, is to offer something that the big boys do not...

Look at the pet industry. We have petco, petsmart, pet supplies plus, and Capitol pets all withing driving distance of my house...but there are as well a myriad of small pet boutique style stores that do very well. They sell things that the big boys do not, carry specialty items the big stores do not, and offer services that the big boys do not.

How to do that with fishing???

I have no freakin idea

tntitans21399 reply :

It will be hard if you have a BPS near you, because they have so many different types of stuff and every angler isn't going to pick the same things. But if you do choose to open a store I would add certain things that would make someone want to come in like

-keep up with local lake fishing reports (what's being caught and with what) that way certain anglers might want to come by for that info and buy something while they are there

-keep up with the weather forecast (you might want to have a computer hooked to the internet)

-Keep things stock that are being used on the local lakes. So if your not near saltwater then I wouldn't even stock that until you grow enough.

-easy to locate things, maybe even make it beginner friendly, like have all bass lures together, catfish, etc... BPS has a lot of lures but for the beginner they don't know what each lure is for, how to use it, and what type of fish it is used for. And we all know that we would rather look and not be bother by a salesperson and then when you need them you can't find one.

-remember to use some of the department store things. Like having the bathroom (if you are going to have one) in the back so people have to walk by all the products.

-another thing you could try, is to offer a try it and if you don't like it then you can bring it back. But you would have to have a catch, as in you will give them half their money back and only on new items without a discount. Then with the returns have them in a bin and sell half off, so you are still making the same amount money off the lure.

-I would also try to go to as many tackle shops as you can, when you leave right down what you liked about it. Then have a friend do the same, because what you like might not be the same as someone else. Then with the things that you both like try to put that in your store or something like it.

-I would try to get the shop as close to a boat ramp (marina to be best) and sell live baits like crickets and worms. You would have to work weekends and your weekend would be during the week, that way you can try and get anglers to stop by as they are going to the lake.

Those are just my suggestions.

Boett43 reply :

WOW thanks everyone there was a TON of great things brought up and it looks like i have some serious thinking ahead of me for my furture plans ...Thanks Alot all Of you I still wanna hear from somebody that owns a tackle shop and is sucessful if there is one on this board...Thanks Big B

Raul reply :

Not to burst your bubble, it 's not my intention, you are young but not experienced, life is really a b*h when you live the dream and don 't have a foot stepped on reality.

I 've owned several businesses and not so good "businesses", for years I 've been a fish hobbyst, fish fascinate me, animals fascinate me reason why I studied Veterinary Medicine, had my first fish tank when I was 5 back then duiring the age of the dinousaurs of fish keeping I gre with the rechnology as it developed and I understand how the technology works and it 's application, one of my dreams when young was owning an aquarium store and I did, reason why it went down the sewer had nothing to do with me, in four years starting with a few fish tanks I became the largest tropical fish whole and retail seller of the city, my purchases and sales were in the thousands weekly, what did I do wrong or where was I wrong that took my business down the drain ?

1.- I was in a very suceptible business, risky if you want to see it, animals die, when you sell them by the hundreds a few deaths don 't mean much and when you are really good your death toll is minimal, the risk is there but you can overcome it so that wasn 't it.

2.- Well, since my business was in Mexico but 95% of the fish are imported they have prices in DOLLARS, not pesos and everything is fine if the peso/dollar rate exchange is stable, but hell, this is Mexico and in Mexico s*t happens and it happens in cycles, every X years the mexican government does something stoopid and all hell breaks loose, finantial hell breaks loose, so that helped.

3.- Finantial trubble means that people are not going to be able to pay their bills and their obligations, CC, mortgages, loans, who needs tropical fish when you don 't make enough money to pay your bills ? tropical fish are not a necessity, they are a luxury, something you have when you 've got spare money to burn. During the 1994 mexican finantial debacle and the subsequent years people lost their homes, their vehicles, me ? I lost my business, I didn 't loose money I had the fore sight to save half of my profit and invested it in other finantial mechanisms, but all I worked for so hard went down the drain and that 's what hurt me the most, not the money, the effort. :'(

After loosing that business I had some spare money burning a hole in my pocket, money I could invest in another enterprise, yeah I 'm greedy and as long as I have my finances in safe keeping any spare is good for another enterprise. Well, Leon is called by it 's people as the capital city of show manufacturing, the city lives, breathes, dies and smells everything related to shoes. So what could I do to bite a chunk out the wealth ?

Tanning ? nope don 't have the money for that, yeah I can purchase the raw material outsource it and turn it into leather or sole, but there 's a problem, the big tanneries give credit to the shoe makers but I simply can 't do that, it 's cash or cash, tanning is out of the question.

Shoe making ? with thousands of factories competing with each other I ain 't got the time nor the will to compete with everybody, out of the question.

Glue ! every pair of shoes needs a dab of glue, multiply a dab of glue for the thousands and it adds up to cans of glue, hundreds of cans of glue. Had a little money, had a friend I could muscle to sell me the glue cheaper so I started to sell glue by the can, not to the big shoe factories but to the everyday guy that makes a few pairs of shoes on a daily basis. It doesn 't die, you can store it for long periods of time, clients pay you in cash, if the price goes up you win if you have stock.

Well, everything went fine and made some good money selling glue by the can until ...... the MF danged chinese shoe came into play >, even with compensatory taxation chinese shoe is cheaper than mexican manufactured shoe, factories closed because they couldn 't compete with the price or factories became importers of chinese shoe, who needs 100 or 1000 employees to run a factory when you can run a warehouse with 10 employees ? oh well, another business that goes sour. :'(

But I 'm not going to stay that way, ok I 'm a vet, vet med is what I do so even though I had other businesses I still have my college degree and practice so I can live out of it if things go sour.

That 's when I came up with the idea of the tackle store, a friend of mine had a tackle store here and he closed it not because the sales weren 't good, he closed it for personal reasons that had nothing to do with how profitable the store was. I thought: there 's a vacum in the tackle store business, he made good money with the store, can 't I do the same ?

The market is here, more people fish than when he had the store, location ? who cares about the location ? if the people know ( and you can advertise ) there 's a TS in town people are going to come no matter where you are. Competition ? I 've got more money to invest than the competition, I 've got more contacts than the competition, I speak English, the competition doesn 't, the competition is two teeny weeny tiny stores one from an accountant that has the store as a hobby and the other one belongs to a guy that sells automotive parts. Knowledge about tackle and feeshin ? I know more than they do. For every question I had an answer that convinced me I had a great opportunity, I could fill the gap easily ...... yeah right :

I invested the money in tackle for the store and 3 years later I decided it was time to pack my bags and leave the tackle business for good.

Imagine what would be of me, my wife and my children if I didn 't have my college degree and if I hadn 't saved part of my profits and invested them in other things like properties, deposits and foreign currencies.

Which is going to be Raul 's next business opportunity ? the cash flow is not good right now but I have a little money to invest ........ food ! people gotta eat ya know.

fishfordollars reply :

If you really want to quit fishing buy yourself a Tackle store or a marina.

George Welcome reply :

"Consider working 50-70 hour weeks running your own shop." I know many very successful Mom and Pop operations, however the quoted hours means someone is thinking on a part-time basis. Hours minimum: 12 per day, 7 days a week, 364 days a year. That's not including any commute time, bookkeeping time, etc.

Hire someone to pick up some of those hours and you are now working for them to meet payroll.

Most business that fail do so because of lack of capital. Don't think of going into any business without substantial money.

It's a 50/50 shot - if you do your homework, be honest, and work hard you will probably be successful.

Jeff C. reply :

B-43,,

There is a lot of great info on this thread for you to consider...

as said before,,,

number 1... Location..

number 2 location

and even for # 3..

I am living proof that you have a 5-10 % chance of making it in the

small buisness world today..

I have owned & operated a small Mom & Pop Grocery store now for

24 years and counting.. the last 10 years have seen a decline in buisness

every year.. and it will continue..til I am gone too.

(I am still here so I know how to operate a profitable buisness )

my sales people have been telling me for over 10 years your one of the only ones left

in the state that is this size..if you are not Walmart or Gander Mt. you better have

gas & oil & food & fishing stuff & car parts & Pizza,, ect...there is a gas station on every corner selling food..

So to help me survive & feed the family I stared to make & try to sell fishing baits..

well let me tell ya.. Good luck,,, I have gave out tons of FREE samples,,, donated FREE baits

in various places,, and most of the people don't even let ya know if they even got the free

samples ( by mail) ,,let alone maybe buy some from ya..

I have caught over 300 bass this last year on my home made baits, so I know they

work,, but try to tell a fishernman that,,, its Ego.. got a have Yami... got a have LC..

Do not get me wrong,, these baits they make are awsome,, but the fish do not know what brand they are..

its just ego.. most bites are reaction any way...

I have invested apx. $ 4000.00 in

molds.. supplies ,, ect.. in the last year.. and have sold apx. $ 300.00 --$ 400.00 worth of stuff

I have a small counter in my grocery store,, Tried Ebay,, other web sites,,ect..Gave away more than I have sold,,

A lot of guys brag about the Bait Monkey gettin um.. Hmm.. got to wonder about that..

I sell mostly to the kids in town.. they bring there Dads in,, but ya know.. we can go to walmart later

its cheaper !!..well most people are fooled by walmarts and others advertising gimmicks..I sell senko type baits

hand poued for $ 2.99 a 10 pack,, thats an awsome price.. but they still think that wall mart is cheaper..

they do not even think about $ 3.00 a gallon on gas,, Da..

I would really think twice about it..

as mentioned above,, fisherman are cheap.. I never thought that,, but I guess he is right,,

if you got cash to burn & not feel bad about it if you lose it,,,

go for it,, it will be fun,, at 1st,, and you will never know til ya try !!!!!!

good luck if you do it..

Jeff

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