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Fishing Lure Business

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Idea threads

financemailer

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Mar 31, 2022
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I love to fish with lures. I always thought about starting my own manufacturing business, but had an inkling in my mind that it won't be profitable because most fishermen buy from Bass Pro Shops, Cabela's and Dick's Sporting Goods. I'm a beginner with no money, so I could get a do it yourself lure kit and start handmaking my own lures, but how would I go about selling wholesale to retail companies when I'm not capable of manufacturing mass production of lures? Is there a way to ensure a large wholesale order from somebody? If I could get paid in advance, then I can buy these kits in bulk and make them for sale in my spare time, but without a paid order, I have no money to even get these kits in the first place. I would love to start my own lure business, but how could I create it without a paid order from a retail giant?

I have a degree in finance, but long story short, it's a useless credential for jobs, never mind my degree, I'm interested in owning my own lure production company so I can sell to retail giants for profit. I can't get a decent job with my degree. So I'm beginning to learn some web designing right now to become a freelance web developer, but this sounds like a Slowlaner's work since I'd only be in a local market with tech knowledge. My dream is owning a fishing lure business.

Does anyone have any advice on a small wholesale startup like me? I'm not about to get a bank loan or about to ask angel investors for money. I need a way to secure my first large wholesale order from a retail company with full payment so I can start making lures and sell wholesale to retailers. This would be a dream venture for me because I always wanted to do it. I can imagine owning a fishing lure manufacturing factory with my name on it with contracts to all major fishing goods stores in the country.

Jae
 
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Hong_Kong

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Apr 7, 2022
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I love to fish with lures. I always thought about starting my own manufacturing business, but had an inkling in my mind that it won't be profitable because most fishermen buy from Bass Pro Shops, Cabela's and Dick's Sporting Goods. I'm a beginner with no money, so I could get a do it yourself lure kit and start handmaking my own lures, but how would I go about selling wholesale to retail companies when I'm not capable of manufacturing mass production of lures? Is there a way to ensure a large wholesale order from somebody? If I could get paid in advance, then I can buy these kits in bulk and make them for sale in my spare time, but without a paid order, I have no money to even get these kits in the first place. I would love to start my own lure business, but how could I create it without a paid order from a retail giant?

I have a degree in finance, but long story short, it's a useless credential for jobs, never mind my degree, I'm interested in owning my own lure production company so I can sell to retail giants for profit. I can't get a decent job with my degree. So I'm beginning to learn some web designing right now to become a freelance web developer, but this sounds like a Slowlaner's work since I'd only be in a local market with tech knowledge. My dream is owning a fishing lure business.

Does anyone have any advice on a small wholesale startup like me? I'm not about to get a bank loan or about to ask angel investors for money. I need a way to secure my first large wholesale order from a retail company with full payment so I can start making lures and sell wholesale to retailers. This would be a dream venture for me because I always wanted to do it. I can imagine owning a fishing lure manufacturing factory with my name on it with contracts to all major fishing goods stores in the country.

Jae
Make a few, sell them, make more, sell them, etc. Are you making them yourself or manufacturing them? Just start with a small batch and sell them online: Amazon, ebay, etsy, local markets. Then branch out to retailers and wholesalers.
 

Parks

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What separates you from others? Are you going to compete by price? What's your value skew?
 

financemailer

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Mar 31, 2022
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What separates you from others? Are you going to compete by price? What's your value skew?
Actually, my lures will not be any different from major lure brands. I'm planning to hand make floating baits for bass and trout in fish catching colors, but will be just like all the others in that they'll imitate injured baitfish.

But yes, I'll compete by price, they'll be cheaper than name brands but just as effective in catching fish for those who fish.

I don't even have a name for my baits, I haven't even made any yet, but I can hand make them using kits. I don't want to start too small by making a few for a local bait shop. I want a large bulk order from Bass Pro Shops and Cabela's. I'm waiting to hear from them.
 
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financemailer

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Mar 31, 2022
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Make a few, sell them, make more, sell them, etc. Are you making them yourself or manufacturing them? Just start with a small batch and sell them online: Amazon, ebay, etsy, local markets. Then branch out to retailers and wholesalers.
I'd rather get a large bulk order from Bass Pro Shops and Cabela's to make a huge batch by hand and start making money immediately with wholesale relationships. These are fishing baits, so they are relatively cheap. There's no money to be made with local mom/pop shops, if there is any. I need a larger wholesale production order. I can take the time to hand make them at least initially. I'm free every day. No job.
 

Hong_Kong

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Apr 7, 2022
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But yes, I'll compete by price, they'll be cheaper than name brands but just as effective in catching fish for those who fish.
You need a 'value skew'. Competing by being cheaper is typically not a good strategy.
I'd rather get a large bulk order from Bass Pro Shops and Cabela's to make a huge batch by hand and start making money immediately with wholesale relationships
Do you know what the terms of such a relationship would be? If you are hand making a huge batch right away, how would you fulfill the contract in time?
I can take the time to hand make them at least initially. I'm free every day. No job.
If you are free and don't have a job etc. why not start by making some, and selling them?
 

financemailer

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Mar 31, 2022
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You need a 'value skew'. Competing by being cheaper is typically not a good strategy.

Do you know what the terms of such a relationship would be? If you are hand making a huge batch right away, how would you fulfill the contract in time?

If you are free and don't have a job etc. why not start by making some, and selling them?
Have you ever bought and used a fishing lure? Fishing lures are all about looks and catchability to the fisherman and the fish. Yes, It's both, not just fish. If I can make something that looks flashy and catches as good as Rapalas and Storms do, then I have something that sells and that's how I make a brand for my lures. I have yet to hear back from Bass Pro Shops. It depends on what their terms are, how many is expected to be made for shipping, but because I'm a startup and not a big name, they won't be ordering a real large commercial size batch. It will be smaller, so I should be able to manage. Selling lures isn't done on retail outlets online unless I was a reseller of big name brands. I'm a beginner manufacturer with no brand so it has to be bigger quantities in a sure deal.
 
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Angler

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Sep 9, 2021
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My dream is owning a fishing lure business.
Just food for thoughts even though it's a little far from fishing lure business. Have you consider anti-snag sinkers(weights)? I searched on amazon a while back and there's only a few brand that really solves this problem.
 

Hong_Kong

Bronze Contributor
Speedway Pass
Apr 7, 2022
137
157
Have you ever bought and used a fishing lure? Fishing lures are all about looks and catchability to the fisherman and the fish. Yes, It's both, not just fish. If I can make something that looks flashy and catches as good as Rapalas and Storms do, then I have something that sells and that's how I make a brand for my lures. I have yet to hear back from Bass Pro Shops. It depends on what their terms are, how many is expected to be made for shipping, but because I'm a startup and not a big name, they won't be ordering a real large commercial size batch. It will be smaller, so I should be able to manage. Selling lures isn't done on retail outlets online unless I was a reseller of big name brands. I'm a beginner manufacturer with no brand so it has to be bigger quantities in a sure deal.
Yes I have bought and used fishing lures, and I also know someone who runs a business making and selling fishing lures. They don't sell wholesale though, just retail online via website. If you google "custom fishing lures" there's tons of people in this space (many making good money). That's why I asked. I don't expect bass pro to respond to you to be honest. If your goal is to do the exact same thing as the big established players but for cheaper, that doesn't sound like there is enough of a value skew. If you have a product that can be differentiated from them, then I think there is a good opportunity there.
If your product has no branding, and no proof that it works, why would bass pro shops be interested in buying? I'm sure they get hundreds of emails like this. From there business perspective what would make them want to choose your brand?
 

biophase

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Honestly, I think you’re kind of delusional that a big box store would place a large order from you. You don’t have any track record that you can even fulfill the order, why would they give you a large PO?

Look at it from a purchaser‘s standpoint. He is an employee and if you don’t deliver on your order he is going to get screwed. So why would this employee take a risk with your company, to save a few dollars? Large companies do not need to save pennys on a product. They want consistent and reliable suppliers.
 
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bfmcneill

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Jun 22, 2022
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Does anyone have any advice on a small wholesale startup like me? ...

I have seen some people on YouTube that are growing their channel doing competitive fishing. I am curious if you have tried letting them review your hand made products and if they like it perhaps do some kind of profit share with them to sell your lures & help get your name out there. Just a thought. For example there is a channel named sin city outdoors.
 

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