A lot of good information here. I believe the question that started all this was could it be done. Short answer is yes, if you are willing to do all that is needed to be done to make it work.
The only thing I don't understand is why is it that every time somebody ask about buying in bulk, producing in bulk, or selling lures it all goes to a tax debate?
I understand this is information that would be needed if the person moved forward with there business plans, but dang. Some of you all make it sound like the first time he makes a lure the helicopters are going to start circling, or if he sells a $2.00 lure to his best friend the guys in the black suburban's are going to roll up and slam him on the ground.
If you choose to make it a business then yes you will need to do all the same things any other business does. accountants, marketing, employees, payroll, overhead.