SGTWestendorf Posted August 3, 2013 Report Share Posted August 3, 2013 I am currently looking into starting my own soft plastic buisness and all i find is the premade molds. I guess the question is that I want to make a buisness but am unsure if i make lures with these molds if I am able to call them mine. I also was wondering if anyone can give me a website or place to get custom molds made. Any advice for starting my buisness would be amazing thank you...once i am up and running will send everyone who gives me sounds advice free samples. Quote Link to comment Share on other sites More sharing options...
gone2long Posted August 3, 2013 Report Share Posted August 3, 2013 (edited) My suggestion to you is read, read and read some more this is not an easy racket to get into you are talking about thousands and thousands of dollars in molds alone when you mention the word custom. They can take months to create review and receive you will need to do patent searches on all your ideas as the big folks are always looking to shut you down, I think you should start as a hobby and see where it goes. Good luck and welcome to the forum. Oh and any of the current mold makers will probably help you do custom work but it make take quite a bit of time they are all busy just keeping up with stock inventory. Edited August 3, 2013 by Gon2long Quote Link to comment Share on other sites More sharing options...
bobv Posted August 3, 2013 Report Share Posted August 3, 2013 Best advice................Keep your day job! Quote Link to comment Share on other sites More sharing options...
carolinamike Posted August 4, 2013 Report Share Posted August 4, 2013 Looks like you owe Gon2long and bobv some baits because they have given you very good advice. Start off making your own baits, when you have satisfied yourself make some for your friends. When your friends like them and are catching fish, ask them to start showing them to their friends. By then you should have a few individuals wanting you to make them some baits. Now you are getting started, Contact the IRS and get them to help you set up everything to start paying your federal excise tax. Now its time to start going to Mom and Pop tackle stores Congratulations, you have started a bait manufactoring company. The molds that are sold by all the popular mold makers you can sell baits off of. Keep in mind that if there was to be a patent infringement you will be the responsible party ( you will just get an intimidating letter telling you to stop selling the baits, whether you want to fight it or not is according to how deep your pockets are). But you shouldn't have this to worry about, when it comes to hand pours quallity is everything, unusual colors can sometimes be all it takes to get you started. Be sure and write down your color recipies so you are consistant every pour, this is very important, if people are buying your product they want the same thing every time. Remember, too big too fast kills in the plastic business. If you need help this is definatly the forum for you. Good luck. Quote Link to comment Share on other sites More sharing options...
bluetickhound Posted August 4, 2013 Report Share Posted August 4, 2013 (edited) Mike, that is good advice for me also... I'm looking to get active here myself and had to slow my roll a bit... I am thinking now that within a years time I should have my chops up enough to get going but right now I'm just making (and giving away) a ton of baits. Folks are catching fish and asking for more, so I'm on the right track.... Edited August 4, 2013 by bluetickhound 1 Quote Link to comment Share on other sites More sharing options...
bluetickhound Posted August 7, 2013 Report Share Posted August 7, 2013 I have had a couple of those good guys offer to pay for my baits but I'm not set up yet to be in business and after reading the thread on "under the table" lure selling I'm scared to take a nickle before I could justify having done so to the IRS... That being said, I'm sure you're spot on about the other 95+% of folks.... The minute I'm in business they won't want any more baits.... Quote Link to comment Share on other sites More sharing options...
Driftwood Posted August 7, 2013 Report Share Posted August 7, 2013 The same "good ol boys" that own bait shops will try to get you to put your stuff in on consignment. That is a slow death as they have nothing tied up in your product so they won't try to sell it like they would a product that they have paid for. Quote Link to comment Share on other sites More sharing options...
bluetickhound Posted August 7, 2013 Report Share Posted August 7, 2013 Yeah... Where I live there is a tackle shop that has everything from soup to nuts.... I figured out pretty quickly to stay away from that... Quote Link to comment Share on other sites More sharing options...
mark poulson Posted August 8, 2013 Report Share Posted August 8, 2013 Just know that turning a hobby into a business usually takes the fun out of it. Quote Link to comment Share on other sites More sharing options...
JSC Posted August 8, 2013 Report Share Posted August 8, 2013 "Just know that turning a hobby into a business usually takes the fun out of it." Mark that is a fact U can take that to the bank. Hard to cash it in thou. Quote Link to comment Share on other sites More sharing options...
RayburnGuy Posted August 8, 2013 Report Share Posted August 8, 2013 Just know that turning a hobby into a business usually takes the fun out of it. Exactly. You hit the nail on the head buddy. Ben Quote Link to comment Share on other sites More sharing options...
mark poulson Posted August 8, 2013 Report Share Posted August 8, 2013 Kinda like marriage, I guess. Quote Link to comment Share on other sites More sharing options...
toadfrog Posted August 8, 2013 Report Share Posted August 8, 2013 Shame on you Mark . TEE HEEE hope I don't get caught laughing . Quote Link to comment Share on other sites More sharing options...
Smallie Posted August 8, 2013 Report Share Posted August 8, 2013 I found that those people who get free stuff from you are usually the last people who will pay for it. There are a few good guys, who appreciate the freebies and recognize that they like what you have enough to pay for it, but a lot are just taking free stuff. That was my experience! Quote Link to comment Share on other sites More sharing options...
carolinamike Posted August 11, 2013 Report Share Posted August 11, 2013 Just curious, is there anyone here who sells plastic baits that did not start out by giving some away? Quote Link to comment Share on other sites More sharing options...
Ed_White Posted August 11, 2013 Report Share Posted August 11, 2013 So, the soft bait business model is basically the same as the guy selling crack uptown? "Here guy, try some of this, you'll like it"..... Come to think of it, a lot of guys I know are addicted to fishing, spend lots of dough, and will do almost anything to get out and fish. I'm one of them. Quote Link to comment Share on other sites More sharing options...
carolinamike Posted August 11, 2013 Report Share Posted August 11, 2013 You're exactly right Ed, except worm heads are worse than crack heads. Tournament bass fisherman are the worst. Once they win money off the bait they will always have that bait on hand. If they can't find the bait, then they try to get other people to sell them so they always have a dealer. Unlike most addicts, they hardly share with their friends. If they find their favorite bait in the store, sometimes they buy all the store has to keep from sharing. Before a big tournament, if they don't have the bait they're looking for, then price is no issue. And like other addicts, there's been a lot of family arguments and wives lost to their habit. And if they do share, then usually their friends become addicted too. 3 Quote Link to comment Share on other sites More sharing options...
JJK Posted December 3, 2013 Report Share Posted December 3, 2013 I am currently looking into starting my own soft plastic buisness and all i find is the premade molds. I guess the question is that I want to make a buisness but am unsure if i make lures with these molds if I am able to call them mine. I also was wondering if anyone can give me a website or place to get custom molds made. Any advice for starting my buisness would be amazing thank you...once i am up and running will send everyone who gives me sounds advice free samples. Quote Link to comment Share on other sites More sharing options...
biggun Posted December 3, 2013 Report Share Posted December 3, 2013 I've been making lures for the last ten years all that you have heard here is true! I have gave away thousands of lures, and sold hundreds. "not a good business profile here" Lure making is more addictive then drugs for sure, trust me if I never made another lure and used a bag or two a day from now on I would probably die long before I ran out. I have several big green totes I got at wallmart every time my wife has to move one she complains that I need to get rid of some of these lures. She hasn't realized that there are 12 of them between the house and the shop. LOL I'm a lure junkie! Quote Link to comment Share on other sites More sharing options...
JJK Posted December 3, 2013 Report Share Posted December 3, 2013 Shtwestendorf just curios how the business is going Quote Link to comment Share on other sites More sharing options...
fishon-son Posted December 4, 2013 Report Share Posted December 4, 2013 try getting a fishing tackle retail magazine. look in there for companys to do you buying from..alot of them have standare over runs. that u can buy in bulk and resale without the mess...I made good money doing that..have a large supply base...little mom and pop shops sell my plastics.and they sell a lot of it... Quote Link to comment Share on other sites More sharing options...
Bogbaits Posted December 4, 2013 Report Share Posted December 4, 2013 Just curious, is there anyone here who sells plastic baits that did not start out by giving some away? Mike,I never gave away any baits when I started out,still wont do the freebie thing,I get about 2-3 request per week from people wanting free samples,been contacted by every bait store in my area and out of my area,they all want your baits for nothing so they can make the profit,If you have a unique product you can get top dollar,dont give in to the vultures!!!LOL 2 Quote Link to comment Share on other sites More sharing options...
smallmouthaholic Posted December 4, 2013 Report Share Posted December 4, 2013 (edited) My list of folks who always ask for freebies and sponsorship 1-Tournament anglers- numerous e-mails every spring requesting sponsorship. They all start out by saying," I love you baits"-to which i reply- "If you love them so much ,then why isn't your name on my current,customer data base." then they respond by saying,I'll make your baits famous"--Laugh!!! 2-Fishing guides/outdoor writers who want dirt cheap/free products. They are offered a substancial discount but no free baits w/ the exception of new proto-type baits.There are only a few that respond. 3- Never ,ever fall into the consignment trap. Stores want 40% off retail for starters and that works for the bait manufacturing companies who produce 1,000's of soft-baits per day- not the small manufacture Another point to remember, your not supposed to make a profit off of your gimme,gimme friends. Cut them off and they'll disappear quickly. This cutthroat tackle business is tough enough for those who play by the rules and pay their excise taxes. Custom CNC molds and shop/office expenses separate the men from the boys.You have to love this business to stay in it becuase profits don'r support the long hrs. and continuos supply of financial input necessary to stay with it. Don't quit your day job but if your retired, make sure you have the financial means to support your enterprise w/out spending your table money. Self-satisfaction from creating your own,unique products in one thing,selling them for a profit is another. If you're copying others' baits,you're likely to fail unless your the cheapest guy on the block.There is a tremendous difference between a gross and net profit. Your annual Schedule C form will show you that in cold,hard numbers.Time is money and those who attempt to turn a hobby into a business find this out rather quickly. Edited for spelling Edited December 4, 2013 by smallmouthaholic 1 Quote Link to comment Share on other sites More sharing options...
Bogbaits Posted December 4, 2013 Report Share Posted December 4, 2013 My list of folks who always ask for freebies and sponsorship 1-Tournament anglers- numerous e-mails every spring requesting sponsorship. They all start out by saying," I love you baits"-to which i reply- "If you love them so much ,then why isn't your name on my current,customer data base." then they respond by saying,I'll make your baits famous"--Laugh!!! 2-Fishing guides/outdoor writers who want dirt cheap/free products. They are offered a substancial discount but no free baits w/ the exception of new proto-type baits.There are only a few that respond. 3- Never ,ever fall into the consignment trap. Stores want 40% off retail for starters and that works for the bait manufacturing companies who produce 1,000's of soft-baits per day- not the small manufacture Another point to remember, your not supposed to make a profit off of your gimme,gimme friends. Cut them off and they'll disappear quickly. This cutthroat tackle business is tough enough for those who play by the rules and pay their excise taxes. Custom CNC molds and shop/office expenses separate the men from the boys.You have to love this business to stay in it becuase profits don'r support the long hrs. and continuos supply of financial input necessary to stay with it. Don't quit your day job but if your retired, make sure you have the financial means to support your enterprise w/out spending your table money. Self-satisfaction from creating your own,unique products in one thing,selling them for a profit is another. If you're copying others' baits,you're likely to fail unless your the cheapest guy on the block.There is a tremendous difference between a gross and net profit. Your annual Schedule C form will show you that in cold,hard numbers.Time is money and those who attempt to turn a hobby into a business find this out rather quickly. Edited for spelling Well said and right on the money!!! Quote Link to comment Share on other sites More sharing options...
carolinamike Posted December 5, 2013 Report Share Posted December 5, 2013 You guys make it sound like someone is giving away a substantial amount of product. Sure, I get my share every year of people asking for sponsers for the purpose of recieving free baits with very little in return, but this is not what i'm speaking of. So you have never had a buddy that you give a pack of baits or a couple of baits of a new color or new style just to try out and see how they like it? Come on now, I think everyone that has made baits has done this at sometime or another. We're definatly not talking about giving a load of baits away, but I dont know anyone at sometime or another who hasn't shared some baits with friends at no cost. Quote Link to comment Share on other sites More sharing options...
