Peque Posted September 19, 2012 Report Share Posted September 19, 2012 Well, a lot of good friends and coworkers they been sugesting that i should produce my own lures and sell them, they love my colors on my shads, they already are fascinated with the scent i been mixing,, the so called "piczie" (licorice scent)....... the question is: how can i get in to lure making home based business?? What gets patented?? Or can i just buy an aluminum mold and go for it using my own color recipes and names? Is just so many questions,questions,,thanks Quote Link to comment Share on other sites More sharing options...
Maurizio Posted September 20, 2012 Report Share Posted September 20, 2012 You will find TONS of information regarding all your questions using the search function, as almost every new member asks the same questions about "starting business" and marketing the "secret super crazy never seen before" lures. I don't want to offend you, but reading your posts and about the problems you had, you are far far away from "getting into the business"! It just takes a little more, than just a fiew days... also because i am sure you want to go the "quality route". Quality needs time, experience and practice! But to help you at least a little... 1. How to start: create your lure, build a mold (maybe multi cav.) or buy a mold you like buy your softplastic in 5 gal, get into production, sell your product to your friends 2. What gets patented: Nothing! (use the search function and you soon will know why. there is plenty of valuable information about it) 3. About the aluminium mold: Buy the mold you want, pour your lures, name them, sell them. Quote Link to comment Share on other sites More sharing options...
Peque Posted September 20, 2012 Author Report Share Posted September 20, 2012 @maurizio.. thanks for your reply, no offense taken in any way, Im glad to find somebody that is honest about this topic, I'm learning this addicting hobbie (another one,lol), i'm trying new things almost everytime i get a chance, and i write down the formulas,heat processes,and so forth every time i mix something so i dont do the same mistake,,as far as molds go, i'm a cnc machinist(not practicing anymore),and mold maker in FRP. so that is not a problem to me, i'm in the process of finishing a cool POP mold for 4" shads..check it out!! Quote Link to comment Share on other sites More sharing options...
Maurizio Posted September 20, 2012 Report Share Posted September 20, 2012 alright, cool! You are right about the addicting hobbie and i share you enthusiasm! Try developing your own unique softbait! (So you don't have to battle the big companies with pricing or whatever when/if selling those!) "Trade" your baits for something else! E.g. On a fishing trip you bring the lures, and they bring the beer or whatever... that way you are having a good time with your friends, fish your lures and you kind of "sell" your baits... If you need (still want to) you can think again about selling some baits to your friends, as soon as you get consistant perfect results. At that point they should be addicted to your lures anyway... ;-) Quote Link to comment Share on other sites More sharing options...
MonteSS Posted September 20, 2012 Report Share Posted September 20, 2012 If I were you, I would look more into the mold making business than the bait making. ...Bill Quote Link to comment Share on other sites More sharing options...
Smallie Posted September 20, 2012 Report Share Posted September 20, 2012 If I were you, I would look more into the mold making business than the bait making. ...Bill X2 - bait business is extremely competitive. Quote Link to comment Share on other sites More sharing options...
Saltfisher Posted September 23, 2012 Report Share Posted September 23, 2012 X3. I would pay you to make me some custom molds I have in mind. Quote Link to comment Share on other sites More sharing options...
wnybassman Posted September 23, 2012 Report Share Posted September 23, 2012 X3. I would pay you to make me some custom molds I have in mind. X4. I have a bait that I want to have a mold made, too. Quote Link to comment Share on other sites More sharing options...
rayhorse Posted September 23, 2012 Report Share Posted September 23, 2012 How much money you are willing to pay for a mold? I'm making my own cnc machined molds in Mexico. I can provide cad-cam design and machining services, Quote Link to comment Share on other sites More sharing options...
Saltfisher Posted September 24, 2012 Report Share Posted September 24, 2012 It depends how the molds shoot and if they are injection or pouring. I see guys charge up to $500 for a injection style mold. Quote Link to comment Share on other sites More sharing options...
fishnfool Posted September 24, 2012 Report Share Posted September 24, 2012 I would check out lakeside bait molds he has done a couple of custom molds for me the price was reasonable and they were done pretty fast and they shoot perfect. Quote Link to comment Share on other sites More sharing options...
rayhorse Posted September 24, 2012 Report Share Posted September 24, 2012 $500 is a very low price. Take advantage of the service. Quote Link to comment Share on other sites More sharing options...
MonteSS Posted September 24, 2012 Report Share Posted September 24, 2012 I would pay $500. for the first mold, including CAD/CAM work for a relatively simple design. And a couple hundred for machine work on each mold after that. ....Bill . Quote Link to comment Share on other sites More sharing options...
rayhorse Posted September 25, 2012 Report Share Posted September 25, 2012 In Mexico, only cad-cam design can cost $600 usd or more, depending on the design of the mold. machining can cost around 1200.00 usd. $500 is a very good price! Quote Link to comment Share on other sites More sharing options...
Peque Posted October 28, 2012 Author Report Share Posted October 28, 2012 Well the good news is that I'm joining forces with a buddy of mine that is very good at this pouring and luremaking hobbie,,,we are at the stage of R&D AND for now we are using the best of what we do as individuals I'm the moldmaker and technical stuff and mybuddy the production and logistics...we r starting to improve on a bunch of things, hopefully I can upload some pics of the beautys and add to the recipe book here. Quote Link to comment Share on other sites More sharing options...
carolinamike Posted October 29, 2012 Report Share Posted October 29, 2012 Peque, I've read over this thread and I think its great that you guys are getting started, but I have also noticed that no one has mentioned an important subject. Before you sell any baits contact your nearest IRS agency. As a manufactorer of fishing products you are responsible for filing and paying quarterly federal excise taxes, you have to pay 10% on all your sales if you manufactor the product. These folks are more than happy to tell you how to get started. I know a couple of people that started manufactoring and selling fishing products that did not do this and it turned out to be a very costly mistake, so be sure and keep this in mind when you start your actual sales. Good luck to you both, Mike 1 Quote Link to comment Share on other sites More sharing options...
smallmouthaholic Posted October 29, 2012 Report Share Posted October 29, 2012 Mike- i brought up that subject in this thread- http://www.tackleunderground.com/community/topic/24473-how-do-i-sell-my-baits-in-a-tackle-shop/ Opps-I just reminded myself that 3rd qrt , 10% excise tax is due by Wednesday Quote Link to comment Share on other sites More sharing options...
JSC Posted October 29, 2012 Report Share Posted October 29, 2012 Mike- i brought up that subject in this thread- http://www.tackleund...-a-tackle-shop/ Opps-I just reminded myself that 3rd qrt , 10% excise tax is due by Wednesday For years they sent me the form prior to the due time ... they caught me when they quit doing this with out any notice .... Have to mark the calander to make sure I don't "Goof" again ... Did any one get a notcie when they made the change ?? Quote Link to comment Share on other sites More sharing options...
smallmouthaholic Posted October 29, 2012 Report Share Posted October 29, 2012 (edited) For years they sent me the form prior to the due time ... they caught me when they quit doing this with out any notice .... Have to mark the calander to make sure I don't "Goof" again ... Did any one get a notcie when they made the change ?? Not at all!. I called and they said they're cutting back on expenses and no longer mail quartertly forms #720. they tolds me to download the forms from their website. What's next-free baits??!! Edited October 29, 2012 by smallmouthaholic Quote Link to comment Share on other sites More sharing options...
dlaery Posted October 29, 2012 Report Share Posted October 29, 2012 On the directions for the 720 form, it says you need to file electronically. I never have. I download the form and mail it in. Quote Link to comment Share on other sites More sharing options...
Saltfisher Posted October 29, 2012 Report Share Posted October 29, 2012 I was told from a lot of Guys at work that have small buisnesses that you don't have to worry about it unless you make more then about $5-10k a year. I don't think any of them pay taxes on it. They just said keep it low key. Quote Link to comment Share on other sites More sharing options...
dlaery Posted October 29, 2012 Report Share Posted October 29, 2012 They are not referring to Federal Excise Tax because that does not apply. This has nothing to do about income, it is a manufacturing tax that has to be paid 10% of sales. Quote Link to comment Share on other sites More sharing options...
smallmouthaholic Posted October 29, 2012 Report Share Posted October 29, 2012 I was told from a lot of Guys at work that have small buisnesses that you don't have to worry about it unless you make more then about $5-10k a year. I don't think any of them pay taxes on it. They just said keep it low key. They'll cry real tears when the I.R.S. levies penalty and interest. All the I.R.S.has to do is check the business links of signatures here on T.U. and then punch up the business name and see if any form #720's have been filed.You'd be surprised how many will "drop dime" on their buddies when they get caught.This business has enough caveats w/o the I.R.S. making your financial life miserable. 1 Quote Link to comment Share on other sites More sharing options...
JSC Posted October 29, 2012 Report Share Posted October 29, 2012 (edited) I was told from a lot of Guys at work that have small buisnesses that you don't have to worry about it unless you make more then about $5-10k a year. I don't think any of them pay taxes on it. They just said keep it low key. ADVICE --- PAY THE TAX !!!!! No matter how smal ... Belive me they count Pennies .... Edited October 29, 2012 by JSC Quote Link to comment Share on other sites More sharing options...
carolinamike Posted October 29, 2012 Report Share Posted October 29, 2012 (edited) The main reason that I brought the subject up is because I noticed that the gentleman's location was Texas(a very big fishing state and a very competitive market). When you start manufactoring in a state such as texas you better have all of your points covered, after all, this is the fishing industry( a very competitive and cutthroat industry). If someone feels like their toes are being stepped on, then rest asure if they can turn you in they will. Saltfisher, if you are making the baits and selling them and not filing federal excise taxes, then you are playing with fire and the IRS is made of gasoline. I'm not trying to be a smart ass, but I got turned in when I first started and I know several people that decided that they would keep a low profile and it shut their businesses down. I just dont want to see anyone in trouble. These folks do not play, they mean it. Be it 1 dollar or 10,000 dollars. Edited October 29, 2012 by carolinamike 1 Quote Link to comment Share on other sites More sharing options...
