I make some money at it but not much. Most of the money I make goes right back into the business working on new ideas. I have had lures manufactured for me overseas several times, made thousands myself, and also by others here in the USA. I have found it is very difficult to get a high quality product unless you make it yourself. The problem with making it yourself is there is only so many hours in the day. I had one lure made overseas that would break if you looked at it wrong and I threw out all of them, a very expensive mistake. I have had other lures that I invested thousands into only to find out they didn't sell very well.......it's a business and there is certainly risk.
So............how do you avoid risk? One way is to build all the lures yourself and build the business slowly. The problem with this approach is you never make much money at it, you can make some, but not enough to make it worth quiting the day job.
IMHO, the best way to make money at it is to be really good at developing new ideas and then finding someone who is very skilled to produce them for you. Again, you can make a little money building them yourself but to make good money you have to let others do the work for you.........there is not enough hours in the day to do everything yourself.
The other bad thing about lure building is all the chemicals you must use. There is the lead, the paints, the wood dust, all the plastics, and worst of all, the clearcoat. I don't care how good your ventilation system and mask is your are being exposed and long-term I don't think it's worth it.
Hack, hack, wheeez, wheez.
Jed.