outdooradvantage Posted October 25, 2008 Report Share Posted October 25, 2008 Hi, I was wondering if any of you have your baits in bait shops and have them on consignment? If so I was wondering what the going consignment rate is. Thanks Jeff............. Quote Link to comment Share on other sites More sharing options...
papamark Posted October 25, 2008 Report Share Posted October 25, 2008 Jeff When I started thats what I had to do. It can be handled different ways. Some wanted a percentage, some wanted a flat rate. Both worked out for me. But over time its better if you can just do a direct sell. the time you take to restock the shelves, or mail them and collect your money, is not really worth it, your profit margin gets small FAST. The ones I am in now, place an order, I make, ship and usually collect either by Pal-Pal or they send me a check. But these are places that I have done business with in the past. I always trust you once, but don't abuse it. YES I have lost some product, leason learned. Good Luck Quote Link to comment Share on other sites More sharing options...
JSC Posted October 25, 2008 Report Share Posted October 25, 2008 Hi, I was wondering if any of you have your baits in bait shops and have them on consignment? If so I was wondering what the going consignment rate is. Thanks Jeff............. Jeff Consignment is the toughest ... but some times the only way to get your product started ... If you can get a partial payment will help as they will have more than shelf space in it .. The more they (the coustomer) has in it the better job he will do for you & himself ... He needs the return on his investment. I would sell them on the 40% profit margin for them .. the same as for an ordinary sale but no further discounts such as a 2% for cash on delivery .... Good Luck JSC Quote Link to comment Share on other sites More sharing options...
Bountiful Waters Posted October 26, 2008 Report Share Posted October 26, 2008 Try to stay away from it if you can. It really becomes time consuming to keep track of it. Quote Link to comment Share on other sites More sharing options...
empire247 Posted October 26, 2008 Report Share Posted October 26, 2008 outdooravantage, when i first started out selling to stores i had a bait shop i really wanted to get in to but the guy didnt want to buy from me cause he wasnt sure if they would sell, so i took my price list in with 2 prices on it (1 with dealer cost and one with 40% mark-up price). i asked him if he would give me a few slot hooks on the wall and let me fill them for 6 months. he could sell the baits for the 40% mark-up and he was only obligated to pay (dealer cost) for the baits he sold and after 6 months if they were not selling i would take them all back. he gave me 40 slots on the wall and i filled them all (200 bags), i told him i would check back once a month. the first month he didnt sell very many (like 5 bags or something). by the 3rd month he had sold almost half the bags and then bought the whole inventory plus made a direct order for another 50 bags. you might try something like that to get into your first store. once you get into the first bait store the rest of the local bait shops will be easy as when you go in to talk to them make sure you tell them that your baits are being sold in other stores as well (it makes the customer know that your baits are legit and gives them confidence in your product) also, another thing i do is rather than advertise in a magazine (local fishing mags or newspapers) which cost anywhere from $30 to $100 i go right to the guys im targeting (tournament bass fishermen). i ordered some 4 x 4 4 mil bags (i use laminate bags for the stuff i sell) and i pour up 1 gallon of stixs (almost 500) of the local favorite colors ,then i pack 5 stixs in a bag and put my label on it with my contact info and also the name of the bait stores that carry my product (i confirm this with my bait stores first before putting thier name on the label, no one refuses cause it is free advertizement for them as well , this is also part of my "sales pitch" to bait stores im trying to get in ) then i pick a few circuts and talk to the tournament directors and make sure they are ok with it (they are always ok with free baits lol) and to see how many boats they usally run. then i drop them off the morning of the tournament.( i do that so the director does not keep the baits for himself) NO "sales pitch" AT THE TOURNAMENT!!! guys dont want to hear that crap, just drop and go and let your baits speak for themselves, they will like you better . when i get new customers by phone or email i always ask them how they heard of my baits and most guys say they got a free bag at a tournament. for me its better advertizement when the customer can actully "test drive" your product and then make up his mind wether he likes them or not. it costs me about 40 to 50$ to make all the sample packs for a tournament i always get my money back from the orders that come in within a few weeks. i had one guy get a free sample pack at a tournament and he ordered 600$ in baits from me in the next 2 months. sure some guys you will never hear from but the ones that you do hear from will more than pay for what you gave away free, if you do give away baits make sure you give them to different tournament circuts so your not giving to the same guys over and over. it has worked for me to help get my name out when i first started out selling, now i dont have to give out very much "free stuff" ( a few times a year i will "donate to some tournaments) and i dont have a problem getting into local bait stores anymore. hope this helps brett Quote Link to comment Share on other sites More sharing options...
rxfish Posted October 26, 2008 Report Share Posted October 26, 2008 I've seen Empire's idea work here in my area. Especially for clubs that put on tournaments once or twice a year and have raffles. I always get involved in that. You could control the consignment thing local but for shops hundreds of miles away you have to rely on them counting the bags etc. I have suggested consignment to some shops and actually had them say they would rather pay. I also offer to buy the baits back if they don't sell, expecially local, as I know whats working most of the time and I know they are going to sell. I have advertised in bass magazines but history showed I rarely made my money back. I do better from websites like hitsunlimited.com where my stuff can be seen by both anglers and baits shops. Quote Link to comment Share on other sites More sharing options...
nova Posted October 26, 2008 Report Share Posted October 26, 2008 There is one rule when it come to consignment.....it's a pain in the butt. You will loose your money. ( non payments, nsf cheques, arguments and lots of travel to pick up the rest of your product). As said before; your bottom line can get very thin in a hurry. www.novalures.com Quote Link to comment Share on other sites More sharing options...
Bass-Boys Posted October 26, 2008 Report Share Posted October 26, 2008 hey guys , a lot of good info .!!!! I have 2 places that use consignment.. I do not prefer it.. but as said before.. its a way to start. I offer less profit to shops that want consignment.. 30--40 % the ones that pay get 35-40% Its pretty easy to get $500.00 retail in a shop,k So I try to get $ 100.00 up front.. if consignment is the only way to get in, you gotta do it.. I would not take to much stuff.. maybe 2 items per hook & only your best colors to start. if it sells they will be glad to give you more space. Jeff www.bassboysbaits.com I am going to start a new thread now.. on.. how do you know its 40% ??????????? Quote Link to comment Share on other sites More sharing options...
.jpg)