The Business

[Painter1]

I got into this hobby and really went whole hog.  Eventually it led to a jig company - 5 fish lures - with some Ozark area pros involvement.  

I’m now considering adding soft plastic baits to what we offer our stores in the area.  While I refuse to be making baits when I could be fishing, it’s possible for me to make a bunch in the winter.  I’m seeing bait shop plastic selling at about $.50 per piece.  I estimate being able to produce at 10 to 12 cents each, not including labor.  I don’t include it because I like doing it.
 

 Some of you have been suppliers. I would welcome your thoughts 
 

 

[Jig Man]

I tried to send you a pm but the site says you can’t get them.  If you will pm me your phone number I would like to send you a text.

[alsworms]

Looks good on paper, doesn't it?? 

[hpssports]

It sounds great but requires a large investment to be competitive. The upside is if you're selling wholesale, the excise tax is based on your lowest selling price.

[Painter1]

Very familiar with the Excise Taxes & Sales taxes due for retail sales.  Mostly wondering if adding soft plastic trailers to a successful jig line would be wise.

 Pro:  Convenient to have craw that matches jig skirt

Con:  There are so many choices for trailers 

[hpssports]

It may cost less to just buy trailers wholesale in bulk than making them. 

[Travis]

2 hours ago, hpssports said:

It may cost less to just buy trailers wholesale in bulk than making them. 

I argue that this holds true for many the make plastics to sell.    Especially if one in honest about costs and time spent doing it.

[Bass-Boys]

15 hours ago, hpssports said:

It may cost less to just buy trailers wholesale in bulk than making them. 

 This is a true statement.

 The only issue you mite have is getting the colors to match your skirts like you want . 

 I would check this idea out 1st. to see what the prices would be and what colors you can get .  

[Painter1]

Getting the colors exactly right for each jig is the purpose. 

[Outlaw4]

i think you could make that work. in my jig buying days if i could have bought a hack attack jig with 3 included chigger craws id have been all for that. 

obviously lots of trailers for lots of situations but in whole getting a trailer designed for a jig seems like a good idea 

[LauMercury]

You've really turned your hobby into a successful business venture - that's awesome! Adding soft plastic baits to your offerings is a smart move, especially if you can produce them at a lower cost than what's currently available.
Speaking of business opportunities, have you ever considered the benefits of a franchise business? With a franchise, you can leverage an established brand and business model while maintaining independence and control.
Of course, running a franchise comes with its own challenges and responsibilities. But if you're looking to take your business to the next level, it's definitely worth considering.

Edited March 6, 2023 by LauMercury

[JavierHenderson]

Hey Painter. How's it going?

[BarrettCole]

From what you've mentioned, it seems like you can produce the baits at a much lower cost compared to the bait shop prices. That's definitely a plus. I'm sure many fellow anglers here have experience as suppliers and can provide valuable insights. Btw, have you already got a 409a evaluation? Just curioius.

Edited August 22, 2023 by BarrettCole

[Painter1]

My analysis weighed firmly on the side of “bait making as a business” is a niche.  I’m just giving away what I have been making.