In a world of austerity, you would imagine all fishermen do up their own lures, as they are easy to make and the cost insignificant.
But you would be surprised how many people are still heading to the stores to get their lures and other fishing gear.
As I explained in our “make money fishing” post, a few days ago, this industry is growing like no other.
Considering the easy effort and low cost involved in creating lures, it would be a good idea to get into this business as a fishing lures supplier.
The entry barrier is really low and almost anyone can make a profit in this venture.
In that respect, selling would probably be slightly challenging, but if you happen to know the right people and are willing to work hard, you can bet that this can be a money-making business.
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If you are interested in making money by making and selling fishing lures, here is a quick 4 step guide to help you get started:
Table of Contents
1. Choosing the Kind of Lure You’ll Make
Make up your mind on the lures to make. The variety covers jigs, spoons, worms and what have you.
A little bit of research on what your targeted fishermen use will help you choose the right one.
2. Doing a Tester Batch
Make small batch purchases for the supplies so you can carry out some test batches. Be sure on what you can make them out to be, test your new ideas, experiment with color patterns and more.
After comprehensive research, draw on your observation and make a decision on what could potentially sell well with reasonable effort. Bulk purchase (to save cost) your supplies and you are ready for business.
3. Making Lures with Efficiency
Incorporate the efficient “assembly line” system. The idea is to produce as many defect-free lures with minimum investment on time.
Every “production” line should churn out lures in the hundreds.
As for packaging, make sure it is done in an appealing way with inexpensive package material. It also helps if you want to create your own brand.
4. Selling
For marketing, start with the neighborhood tackle shops and sports equipment stores. Assure them of a decent profit for agreeing to carry your fishing lures in their stores.
Going forward, you may want to explore the idea of setting up booths at fishing, boating and outdoor shows where there could be significant human traffic with the aim of buying new equipment.
Advertisements
A website is a must to tell the world what you are selling. It can function as an additional avenue to sell your lures but for this purpose, you need to equip your website with payment systems like PayPal.
The Bottom Line
As in any venture that sells physical merchandise, your fishing lures supplies would need time for it to hit the big time. But if your fishing lures are of superior quality at a cheap enough price tag, people will be driven to your products.
Now this is how a hobby can turn into a real money-spinner.
Well said. I own an oilfield service company that is tanking and I’m just looking to start something new. I’ve got plenty of experience in pens and pencils but my life is about fishing
Sorry to hear about your business troubles, Mark. I am sure you can use your years of experience and knowledge to start a new thriving business. I wish you the best.
i retired from the oilfield and have a lure company in louisiana fun and very profitable
I would like to start a fishing (lures, rods, tackle) business. I noticed while researching that there are not any direct sales businesses in this area. Not sure how to get something like this off the floor.
Matthew, I am not an expert on this, but have you tried checking out your local chambers of commerce, or even forums related to fishing and even small business related forums?
Also, the lack of businesses in the area may be a sign for you to get in and fill the voide.
I have been in the business now for three years. Our lures are made for off shore fishing. At this point it has not been profitable. We are having a hard time selling the volume we need to see proper cash flow. We are finding Marketing to now be our biggest challange. Any sugestions?
Altan, have you tried using related online forums?
By becoming a member of a few online forms related to fishing, and answering questions and being helpful you can establish yourself as an authority and trusted company. And most forums allow you to put your links as signature at the bottom of your posts, so every time you post, your links will be seen by all form members.
Of course, you can also try to advertise on these forums.
The reason forums work well is that forum members are very targeted traffic. They are already interested in your niche and are more likely to buy stuff that helps them achieve whatever it is they are after, in your case, fishing and fishing supplies.