Opening a Fishing Store

[Boett43]

So im about to start my first semester of college in January and ive been thinking alot and i really want to chase my dream of opening my own fishing store. I know some might think this isnt a great idea and i understand that. But im just looking for advice on what kind of classes i should look into taking any advice at all. Thanks!

[Siebert Outdoors]

Business management

Accounting

Advertising

Those are 3 for a start.

[Branuss04]

Maybe even some sort of communication class as well

[Pigsticker]

Haven't you seen BaitShop? All you will sell is beer and you'll have to win a big tournament to keep your shop ;D

[Boett43]

haha havent seen baitshop yet. i hope i dont have to win a tournament in not that amazing at fishing haha

[flippin4it.]

Do yourself a favor, drive to Greentop(just north of Richmond, Va). See how it's done and see if you can set up a meeting with the owner, I bet he'd be cool with it!!!

[Sam]

Marketing

Management

Your CPA will do the accounting.

Work for a tackle shop during our after school to see how it is done and to find the names and the contacts for your suppliers.

And marry a rich girl!  ;D   ;D   ;D

[Muddy]

Marketing

Management

Your CPA will do the accounting.

Work for a tackle shop during our after school to see how it is done and to find the names and the contacts for your suppliers.

And marry a rich girl! ;D ;D ;D

And MAKE SURE SHE HAS A BASS BOAT!

All kidding aside: a lot of retail success comes from location. There are research compaines that will give you a good idea of the demographics of an area: such as

disposable income

traffic probability

need

competitors

taxes

etc, etc while this may cost you a few bucks it really can help you look for your best area to open up in. Rather than that Lake looks good!

[Boett43]

Is it possible to make a steady decent living running a buissness. i know it takes awhile to acutally make your first profit.  I live in MD where the fishing isnt that great so location could be a problem

[Gatorbassman]

I'll add one.

Website design

[burleytog]

A good head doctor to see just why you think it's a good idea.

[Hookemdown.]

A good head doctor to see just why you think it's a good idea.

Burley is trying to say:

The economy sucks.  Hobby stores take a large commitment for very little gain even when the economy doesn't suck.

It's risky, but anything is possible.  Live the dream until you are forced back down to reality.

[Glenn]

Marketing is definitely as good idea as are business classes.  I'd add Business Law to that as well.  If you don't set up your business properly from a legal perspective (licenses, trademarks, etc.), then you could run into serious problems later.

As for an accounting class - get a CPA.... at least for the first year or two to teach you the ropes. You may find that all you need is Quickbooks and TurboTax after that.

[bmadd]

I'll second Glenn's suggestion of Business Law since he beat me to it. I think that a degree in Business Management with a minor in Marketing should give you plenty of background. Location is a very important factor and you may even have to specialize in something else to accompany fishing to maintain a profit.

[Muddy]

I am gonna go out on a limb here but I think one of the best suggestions for a SMALL RETAIL BUSINESS, is to get a job in the field. We are not talking major banking and investment here.

Your ability to judge your market,feel the pulse of a new oproduct, compete with places like BPS and Cabelas and most important your

PEOPLE SKILLS: relationships with your staff and customers CAN NOT BE LEARNED IN A CLASSSROOM.

[cart7t]

Of the 3 or 4 local stores that are still in business in my area, you're going to have to offer something more than a bait and tackle store to stay in business.

You're not going to pay the electric bill at home by merely selling some lures, night crawlers, minnows,  rods and reels and providing a place for guys like Burley or Avid to hang out, kibitz and play checkers.

Services like rod, reel and trolling motor repair. Sales of hunting equipment, liquor and other sporting goods will be necessary to make it a success.

[TheBeast]

I don't know of any local just tackle shops at all, we all have something else to pay the bills and selling tackle/lures are used more as impulse items that they see and buy while there.  

Your biggest seller will be soft plastics and other small items like that and it takes chit ton of that stuff to cover the bills.  Especially in the area you are in a decent location will have a rent of $1000-$1500/month then you have to add electricity, phone, internet, water/sewer, insurance, etc.   Not trying to deter you I wish all the luck in the world and much success just trying to give you a little heads up so you won't be overwhelmed when all the bills come due the first month and you say wait I haven't sold but $3000 and that stuff cost me $2000.

[bigfruits]

maybe you can set up an online store or ebay store and work fulltime somewhere else. when you make your first million take some of that and open a retail store.

[Gone_Phishin]

Don't forget composition.  There are a gross amount of people in the business community who have no idea how to properly construct the written word.  Big no-no.

[HogHunter]

If you can try to take an entrepreneurship class if your school offers it.

It will go into detail about the challenges of what you want to do, and how to make it a happen.

[aceman387]

like some of the others have said, go work for some bait shops that have survived the onslaught of the big stores opening , talk to as many owners you can . you being small  shop people would come to you for small items     ,some lures live bait , hooks etc  in  other words you will get the  the crumbs, as t he big shops, bass pro etc  will get most of the traffic and big ticket items because you being smaller they assume you are more expensive  find out the niches the other survivors have adapted . you would have to have a business plan alot of money saved  for slow start up  it would take time to build a customer base  and with the state of the economy i wouild take these bad years to learn as much as you can and wait for better times  to open a store .good location a must , long hours a must . aceman 387  

[snapper G]

Of the 3 or 4 local stores that are still in business in my area, you're going to have to offer something more than a bait and tackle store to stay in business.

You're not going to pay the electric bill at home by merely selling some lures, night crawlers, minnows, rods and reels and providing a place for guys like Burley or Avid to hang out, kibitz and play checkers.

Services like rod, reel and trolling motor repair. Sales of hunting equipment, liquor and other sporting goods will be necessary to make it a success.

Don't forget to soda pop!!  ;D

[snapper G]

Sorry to say but i can't advise any curses, but I can say this.

Go to local tackle shapes and look, :. To be successful, you have to have everything everyone else has, and more, and at a competitive price. If one store has booya, spinner baits, and someone else as strike king spinners but not booya, than get booya and strike kings, so they will got to your place get the both of them, if you have both, they can save gas too, drawing in more customers! ;D

Or 5% off all your perches on Mondays?  Just a few examples!

Good fishing and good luck

[Raul]

I owned a tackle store, fortunately I didn 't have to make a living out of it.

[Muddy]

I owned a tackle store, fortunately I didn 't have to make a living out of it.

Thats what you told your wife, to expalin all that crap in your closet, I ain't buying that for a minute