Judgie Posted October 31, 2020 Report Share Posted October 31, 2020 (edited) I'm confused I started making soft baits for myself and family, Had no intention to sell then. Except to a few friend I fish with. Now I am having a hard time keeping up with people ordering them . It does not make any sense I am selling them for 1$ each , you can purchase them at Bass pro 10 for $4.59. The reason I sell them for a $1 is that I do not want to sell them. I getting orders for 10 dozen , and 500 from different people I do not know. Can,t figure it out. But at that price I can't stop making them. What's your thoughts on this. Edited October 31, 2020 by Judgie Quote Link to comment Share on other sites More sharing options...
Jonah Posted October 31, 2020 Report Share Posted October 31, 2020 If you already haven't done so, talk to your tax person. You need to fill out and file Form 720 every quarter and pay 10% of your sales. You might also need a business license, depending on where you live. If you're going to sell, do it right, you won't like the consequences if you don't and get caught and/or reported. 1 Quote Link to comment Share on other sites More sharing options...
Frank Posted October 31, 2020 Report Share Posted October 31, 2020 He is in Canada Quote Link to comment Share on other sites More sharing options...
Jonah Posted October 31, 2020 Report Share Posted October 31, 2020 Sorry, didn't see that. Thanks Quote Link to comment Share on other sites More sharing options...
SlowFISH Posted November 1, 2020 Report Share Posted November 1, 2020 On 10/31/2020 at 11:33 AM, Judgie said: I'm confused I started making soft baits for myself and family, Had no intention to sell then. Except to a few friend I fish with. Now I am having a hard time keeping up with people ordering them . It does not make any sense I am selling them for 1$ each , you can purchase them at Bass pro 10 for $4.59. The reason I sell them for a $1 is that I do not want to sell them. I getting orders for 10 dozen , and 500 from different people I do not know. Can,t figure it out. But at that price I can't stop making them. What's your thoughts on this. Charge more???? LOL!! J. 1 1 Quote Link to comment Share on other sites More sharing options...
mark poulson Posted November 2, 2020 Report Share Posted November 2, 2020 19 hours ago, SlowFISH said: Charge more???? LOL!! J. Learn to say no. It is a valid answer, too. Quote Link to comment Share on other sites More sharing options...
alsworms Posted November 2, 2020 Report Share Posted November 2, 2020 This used to be pretty common, not so sure if that's the case these days, though. You have something different. Something fishermen haven't seen. Maybe one of those guys wins a tournament or catches a nice fish on your bait. Maybe he tells a friend and he tells a friend. Next thing you know it's taking off. Happens with every "hot" lure. Think Senko, Chatterbait, Basstrix, etc. If you don't want to sell your baits, one of 3 things will happen...... 1) You will tell them no 2) You will continue selling them your baits at outrageous prices until they realize they are outrageous prices and stop paying for your baits 3) It'll just simmer down Having seen this countless times, my guess is number 3. In the meantime, enjoy the extra cash and the compliments you are getting on your baits. Good luck :-) 1 Quote Link to comment Share on other sites More sharing options...
basscatlildave Posted November 2, 2020 Report Share Posted November 2, 2020 My grandpa used to say If your worried about how to stop it Don't ever start it. 3 Quote Link to comment Share on other sites More sharing options...
chachybaby Posted December 2, 2020 Report Share Posted December 2, 2020 Judgie where abouts are you in Ontario? I'll pay you but not for your baits but walking me through the bait making process. I'm just starting out. Pm me. I don't have to worry bout selling bc 1)my baits are crap 2)output is on par right now for about 6 baits per couple hour 1 Quote Link to comment Share on other sites More sharing options...
Judgie Posted December 2, 2020 Author Report Share Posted December 2, 2020 7 hours ago, chachybaby said: Judgie where abouts are you in Ontario? I'll pay you but not for your baits but walking me through the bait making process. I'm just starting out. Pm me. I don't have to worry bout selling bc 1)my baits are crap 2)output is on par right now for about 6 baits per couple hour LOL You don't have to pay for advice, if you are near me we can meet . PM sent Quote Link to comment Share on other sites More sharing options...
chachybaby Posted December 3, 2020 Report Share Posted December 3, 2020 Haha thanks Quote Link to comment Share on other sites More sharing options...
