Small Bait Companies

[DodgeRammin920]

Hey, guys.

 

I had some questions regarding the people on here with custom bait companies. I used to own a small company a few years back but took a haitus due to some things I had going on. I simply couldn't keep up by myself. However, I'm getting married next year and my fiance really wants to get it going again and work at it with me. I had been trying to create a plan but keep wondering about the same thing.

 

Like a lot of you on here, the molds I used for my baits were purchased from Del-Mart and Basstackle and such. All of the molds I had were common ones and I didn't have anything specially designed. I was wondering if there's any problems in the fact that multiple companies are producing baits from the same molds. I mean, I understand that the exact shape of a lizard is quite irrelevant in terms of the bait's quality, but it seems odd that it's okay for so many companies to have the exact same worms.

 

I'm not saying I expect my business to ever get huge or anything, but since I'm starting fresh, I wanted to make sure everything was done right, especially since I learned a lot from when I was pouring a few years ago--mostly in terms of what not to do.

 

I wasn't sure if I should have all of my molds tweaked a bit to make them original or not. Obviously, this could get fairly expensive. And I also know that there's not a lot you can do to make certain baits (like a stick worm) original.

 

Anybody have any input on this? Surely I'm not the only one who is curious about this.

 

Thanks!

[Vodkaman]

I think there is enough left in the business to carve out a nische; color range, quality, service etc.

 

At the same time you are working the standards, I would also be developing new lure ideas to complement your range. Prototyping is not difficult; glued parts, carving, plaster and RTV molds. When you have a new lure that works, you can get ally molds cut when funds become available. Originality is the key, JMHO.

 

Dave

[smallmouthaholic]

Being original w/ custom ,multi-cavity injection molds(plastic and lead) is expensive-i speak from experience.. You'd better be the cheapest on the block if you're expecting to sell copies of what everyone else is. It will take 7 years to enter the sucessful "niche"of a custom manufacturer and develop loyal customers The hours are long indeed and the real net profit may supplement another major income.You have to love it to stay in this business.

 

Website,shop , credit card processing and office expenses add up quicker and higher then most expect.The 10% quarterly excise tax due on gross sales takes a painful chunk out of profits.

 

Then there are those that attempt to create a legitimate ,small companiy image by running their business under the table and not paying taxes - until they are discovered by the I.R.S. and face very high interest and penalties. The I.R.S. will nail "you to the cross" when they catch up to you and determine fraud is involved.It's very easy to ger caught-especially if you talk about your customers on the internet and Tackle Underground.A disgrutaled customer or competitor is all it takes and the I.R.S. will check your tax returns to see if you're filing quarterly form #720's.Then comes the knock on your door or garage with "greetings and salutations" from the I.R.S.