Starting A Business. Legal Matters.

[gone2long]

Oh I hear ya Al I'm thinking that he's discouraged about posting anymore on the site not the business argument that's going on.

 

Ya know I will add something that may be of help, Texasfisherman1 take a look at http://www.bigboybaitco.com/ I believe when he started he was your age and appears to be doing quite well give him a e-mail he may offer some direction for ya.

Edited August 21, 2013 by Gon2long

[alsworms]

Oh I hear ya Al I'm thinking that he's discouraged about posting anymore on the site not the business argument that's going on.

 

Exactly my point. I hate to see anyone discouraged after a post.........especially a young man of only 15..............but that particular post is just begging for heated opinions.  I know the kid is a newbie on the site, but that's kinda like asking "Who makes the best plastic?".  It's a war just waiting to be started. 

 

Look.......there are many extremely talented members on this site who have been very successful in their business, but let's just try to remember that every one has their own way of doing things.  Doesn't mean the other person is wrong.  Hopefully, the young man will come back on the site and post a thing or two in response to all these ideas.  There is a ton of valuable information on here.  In the meantime, let's try to maintain our respect for other members without so much negativity.  Fair enough?

[texasfisherman1]

I'm so sorry for not posting everybody.I have been busy as I am having surgery tomorrow.I appreciate everybody's opinion and I have learned a lot. It sounds like its probably not a good idea for me to sell plastics any time soon. Thanks

[bluetickhound]

I'm so sorry for not posting everybody.I have been busy as I am having surgery tomorrow.I appreciate everybody's opinion and I have learned a lot. It sounds like its probably not a good idea for me to sell plastics any time soon. Thanks

Good luck with your surgery and please (!!) don't be discouraged or disheartened about the plastics business. I'm 47 and considering getting into business myself. I wish I had had your gumption when I was 15!! I said it halfway in jest but if you were so inclined, learning how to run a CNC machine now could pay huge dividends in the future... Just something to ponder.

Again, good luck and best wishes for a speedy recovery!!

[smallmouthaholic]

I'm so sorry for not posting everybody.I have been busy as I am having surgery tomorrow.I appreciate everybody's opinion and I have learned a lot. It sounds like its probably not a good idea for me to sell plastics any time soon. Thanks

Good  luck w/your surgery and a speedy recovery

[carolinamike]

Very well said Al. 

 

texasfisherman1, I hope everything goes well with your surgery and don't let anyone on here discourage you from a dream. 

 

I tell you what I'm going to do to encourage you, if you would like it, I have a couple of extra Lee pots, you're more than welcome to one free of charge.  Even if you don't sell baits, you can make some for yourself and fish with them.  That's also the way that a lot of us started out.  PM me if you're interested and I'll give you my phone number.  I'll talk to your Dad or Mom and if they ok it, then the pot is yours.  Also I have a few molds that I'll give you too.  A couple of POP molds so it will help give you an idea of how to make your own and there's a couple of silicone molds I'll also throw in.  Who knows maybe somebody will chime in and send you a little plastic too.  I'm the RA leader at our church and also on the children's and youth committees and I think it's great you have a desire to start a hobby that's more addictive than anything you can think of.  It's a good hobby that will keep you out of trouble.  Just PM me if you're interested. 

[DAWG1419]

texasfisherman1 pm me I will hook you up with some plastisol on my dime

[alsworms]

I'm so sorry for not posting everybody.I have been busy as I am having surgery tomorrow.I appreciate everybody's opinion and I have learned a lot. It sounds like its probably not a good idea for me to sell plastics any time soon. Thanks

 

I'm sure I speak for all TU members when I say wishing you a speedy recovery.  Come back and join us soon! 

[carolinamike]

Looks like a little bit of flake and some coloring and you're making baits buddy. 

[Baitjunkys]

Texasfisherman, as Dawg said. baitjunkys will send you a gallon of plastic to get you going. Just pm Dawg your ship to address. Dream big, they dont come true if you dont try.

[texasfisherman1]

Thank you all. It is much appreciated.I Will Pm those who offered things after I am well enough in a day or two. Thank Ya'll.

[JSC]

TF  -- Good Luck with the Surgery.

 

Seems like the guys have You set up & that this information has been helpful not confusing.

[Tree_Fish]

You naysayers ought to be ashamed of yourselves! Here we have a young man that is not only interested in fishing but in making his own lures as well. The majority of today's generation won't even pull themselves away from the TV or video games to go outside! Regardless of whether or not he's ready to start a bait business he shouldn't be anything but encouraged! Don't let these guys discourage you, anything you want to do is possible it just takes the drive to do it.

@Texasfisherman

Where abouts in Texas are you from? I live in odessa, if you are anywhere near me you have an open invitation to come check out my setup and play around a little. If distance won't permit that, just let me know if there's anything you need to get started that these awesome gents haven't provided already and I'll send what I can!

[Guest Gangel]

3 things....

 

1.  You can start a business on 5 bucks.  No matter what anyone says.  Until the day I die, I will stand by that.

 

2.  Discussions like this are needed.  No matter what you think about "looking cool" or "being mean".  REAL answers come out, and REAL reactions.  Discussions like this help you learn what people really are.

 

3.  Now that you guys hit the guilty stage of your discussion, don't over do it.  You aren't going to be really helping him with 100's of dollars of stuff.  Help him directionalize and understand the basics.  If someone wants to be a surgeon you don't give them a live or dead body and a knife and say "practice".  If they want to do brain surgery, you just give them the head!! hahahahah, little humor there.

 

I have learned also with a "5 dollar" business you really read ALOT.  You find the best deals really fast.

[smallmouthaholic]

3 things....

 

1.  You can start a business on 5 bucks.  No matter what anyone says.  Until the day I die, I will stand by that.

 

 

I have learned also with a "5 dollar" business you really read ALOT.  You find the best deals really fast.

 

Surely you,if anyone can do so.

 

So kindly explain what the business is and how you can continue to grow w/ a starting  investment of $5.00. The world is full of entrepreneurial dreamers- a few succeed but most talk about shoulda.-coulda-.wouldda.

 

Any busines that produces a good,sustaining income (after taxes) requires continuos monetary investments.

[dlaery]

Any busines that produces a good,sustaining income (after taxes) requires continuos monetary investments.

that is the problem I always have, I get to the point where I need to either get bigger or quit, so I get bigger and should have quit

I started my business with 50 bucks, price of a lead pot, lead and hooks

[Guest Gangel]

5 dollar business?

 

Here's an example.  20  Quarter Ounce bare round head jigs.  2.50 at the most, say?  If you look on ebay you might be able to get them for a buck, buck shipping.  But we'll go with 2.50.  One color vinyl paint.  2 bucks?  50 cents for a little el cheapo art paint brush.  5 bucks invested.  Brush and paint should do a hundred (at least) jigs.  Paint jigs.  Sell on Craigslist or to buddies for 20 cents a piece.

 

 

Pretty simple, I think.  One could probably flip this for awhile.  Yes it would be slow.  And some of you might roll your eyes at this.  But it is a business.  And if the person was that small, they could actually get away with figuring out Excise tax the precise way.

[carolinamike]

If texasfisherman knows somebody that wants to buy clear baits with no flake in them then it looks like he is already in business and it didn't cost him nothing, well maybe a little electricity and his time but considering he will have no cost for the pot, plastisol, and molds I would say he is doing pretty good.

[bluetickhound]

If texasfisherman knows somebody that wants to buy clear baits with no flake in them then it looks like he is already in business and it didn't cost him nothing, well maybe a little electricity and his time but considering he will have no cost for the pot, plastisol, and molds I would say he is doing pretty good.

He's already ahead of me, that's for sure!! Seriously though.... This whole conversation has been enlightening to me. What I've gleaned out of it is that yes, you can START a business on a shoesting but if you want to CONTINUE being in business it will require investment and not just money. Luck will play a small role but I have always believed that you make your own luck. The harder (and smarter) I work, the luckier I seem to be.... Thanks to all who have contributed to this thread.... I still haven't started actually selling baits (yes, I'm giving them away right now but not in the same quantities that I had been before, as it was apparent that folks here are right... Free baits will ALWAYS have takers.... Start talking money and the crowd thins out quickly....) but I want to be sure I learn how to crawl before I start trying to walk....

[smallmouthaholic]

5 dollar business?

 

Here's an example.  20  Quarter Ounce bare round head jigs.  2.50 at the most, say?  If you look on ebay you might be able to get them for a buck, buck shipping.  But we'll go with 2.50.  One color vinyl paint.  2 bucks?  50 cents for a little el cheapo art paint brush.  5 bucks invested.  Brush and paint should do a hundred (at least) jigs.  Paint jigs.  Sell on Craigslist or to buddies for 20 cents a piece.

 

 

Pretty simple, I think.  One could probably flip this for awhile.  Yes it would be slow.  And some of you might roll your eyes at this.  But it is a business.  And if the person was that small, they could actually get away with figuring out Excise tax the precise way.

The in-experienced make statements beyond hilarious. but somewhat entertaining

1 coat vinyl paint w/ a brush-LMAO!. At least you won't have to worry about depositing your earnings in a business account.

 

FYI- excise tax is already figured out the precise way- 10 % due on gross sales every quarter via form #720

[Guest Gangel]

Sometimes I gotta walk away.  I can tell I must be getting old, because I used to jump all over stuff like this.

 

 

You wanted an example, you got an example.  Until the day I die, I will stand by my convictions that a business can be started for 5 bucks.  It might not be a "business" in your eyes, but it is.

 

And, FYI, 10% on gross isn't precise.

[smallmouthaholic]

Sometimes I gotta walk away.  I can tell I must be getting old, because I used to jump all over stuff like this.

 

 

You wanted an example, you got an example.  Until the day I die, I will stand by my convictions that a business can be started for 5 bucks.  It might not be a "business" in your eyes, but it is.

 

And, FYI, 10% on gross isn't precise.

 

Go a head and jump on it - I can handle it.  BTW- the sun still rises in the east and sets in the west. Go ahead and argue w/ the 10% excise tax not being precise. Successful entrepreneurs in a legal tackle manufacturing business pay it. Those who are not successful or-never owed a tackle manufacturing business continue to spew worthless rhetoric

 

An entrepreneur is an individual who organizes and operates a business or businesses, taking on financial risk to do so.

[carolinamike]

Go a head and jump on it - I can handle it.  BTW- the sun still rises in the east and sets in the west. Go ahead and argue w/ the 10% excise tax not being precise. Successful entrepreneurs in a legal tackle manufacturing business pay it. Those who are not successful or-never owed a tackle manufacturing business continue to spew worthless rhetoric

 

An entrepreneur is an individual who organizes and operates a business or businesses, taking on financial risk to do so.

 

 

That statement alone is exactly why I said, I manufacture plastic baits for a living and have for over 5 years. 

 

Too bad that some people just don't get it, that in young people's spare time today, there's so many bad things for them to get into.  I know this first hand because I have two teenage boys and work with teenagers at church.  Kids absolutely need creative and worthwhile outlets for the time they're not in school.  After all, it's usually these times that they wind up in trouble.  Keep them on the water and off the streets fellows.  I'd much rather see a child make a mistake in bait manufacturing or have good guidance in bait manufacturing, than some dope dealer doing the guidance or making a mistake with some kinds of drugs.  Like I said there's just too many bad things out there for kids to get into these days. 

[smallmouthaholic]

Mike,

         I've started, owned and operated 3 succesful businesses in 37 years. I've had my neck and Ba*** out on the chopping block many times but always managed to come out ahead- raising two sons and going through a divorce. Hard work ,knowing your limitations and re-investing is paramount to ones' success.

 

         I read these comments of those who claim they can operate a succesful,small tackle business w/ a minimal investment for a full time business?? With all due respect, I'd like to see the schedule C part of their tax returns and the current amount of debt they owe. I've witness more then a few hot-air ballons come and go in the business world. They all talked a great tune, create a "flash and splash"  scenerio but hurt some good folks financially  w/ then went they went out of business and didn't pay their debts.

 

           I still believe the 15 years needs to be taught by someone experienced. Breathing plastisol fumes is very harmful and dangerous to ones' long term health. Kudo's to those willing to send materials and a pot to the young man but he needs someone to show him Safety 1st, production techniques 2nd. Most of us,including myself) started w/ hand pour molds and Lee pots.That said, one soon realizes injection w/CNC molds is the way to go( if they stay in the business long enough)

 

            There is plenty of used molds and pots for sale in the classifieds and on Bear's site from those who thought making baits was a profitable enterprise.

 

             Most would take a defensive stand against the large investment I have but like i stated before, I have no intentions  of copying everyone else,purchasing a Zorn machine and moving up to the next level even though i have the capital and shop to do so. I had enough hedaches w/ various employees in the contracting business for 30 years and will not go that route now. Payroll taxes and benefits would kill you in a small tackle business operation- plain and simple.

 

              This is a good ,informative thread that will ceratinly open the eyes and close the wallets of some thinking this is their path to financial freedom. It's healthy to disagree as long as it remains civil.

[carolinamike]

You've got to learn to crawl before you walk. Why haven't you posted these saftey aspects in detail for the young man? When and if I talk to his parents I certainly will, especially since this time last year I was going back and forth to the burn center.

 

I think everybody realizes that injection is the way to go but I just wouldn't suggest it for anyone new pouring plastic, especially someone so young. There is a large difference between gravity pouring and pressure-rised 350 degree plastisol. Lee pots are great to learn with, you learn how plastic flows, you learn the importance of heat regulation, and God forbid if there was an accident, with lee pots its usually not that significant, after all I dont know anybody thats played around with pouring plastic that eventually dont get a little burned.

 

And you are right, Bear's is a great website but all that information can be found on TU. Especially when people post constructive and positive information that is really meant to help more than it is to discourage, and not just post because they want to argue.