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Blackmarketbaits

Opening a Pro shop

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Hey my lure building dudes,

 

Theres a new storefront location near me that's on a very busy area. Its essential a crossroads in northeast Wisconsin of 2 highways. One runs east/west across the entire state. The other is a county highway. They are both high traffic areas with tons of traffic heading north or west to head to the thousands of lakes in northern Wisco. And east to trophy world class walleye, smallmouth and musky fishing on Green bay. I have this idea for a fishing pro shop catering to walleye, musky for alot of the shop, but also bass, and in the winter ice gear and lures. This location is across the parking lot of a very very busy gas station which on fridays is full of rigs coming and going getting gas on the way up to fish for the weekend. at the intersection of the highways and also just outside of town with about 10000 people. And my local area has quite a few lakes. Including one very large one, summer is tourist season here. But ice fishing is very popular. My idea is since I have a little lure buisness already, sell online etc. To incorporate my lure buisness into the shop. And even get molds to do custom soft plastics in house. Per orders, and hell, I could put in a microwave and inject walleye and bass plastics on the spot for guys. Which isnt something I've heard of shops doing before. Do you guys think if I have a shop, while also integrating online sales via, Ebay and amazon, store website. I could make this a successful operation? 

Edited by Blackmarketbaits

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I read recently 1 in 10 new business succeed...  As long as you are resilient and willing to learn from failure, why not go for it?  Sounds like a pretty neat idea.  Better fishing up there in Wisconsin than down here in Illinois.  (Better football at this time too, but we probably shouldn't get into that...)

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17 hours ago, Big Epp said:

I read recently 1 in 10 new business succeed...  As long as you are resilient and willing to learn from failure, why not go for it?  Sounds like a pretty neat idea.  Better fishing up there in Wisconsin than down here in Illinois.  (Better football at this time too, but we probably shouldn't get into that...)

XD oh, I've been hearing alot about football down there, from the couple bears fans at work. Knowing me, I'm sure ill dive off the cliff into this venture 

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Let us know when you do it.  I'm always looking for a day trip for my family, and a custom tackle shop fits the bill!

Do you have a website for your current stuff?

Edited by Big Epp
Forgot to say something.

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You know what they say...….LOCATION...….LOCATION...……..LOCATION....If you want to do it do it otherwise you will always be second guessing yourself, you might fail I hope you don't , best of luck and god bless.

Wayne

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Having multiple sales channels can help ensure steady revenue/growth. It's what's kept us in business for so many years. At the same time, retail is a very different beast from selling online. Leasing/owning property, inventory management, staffing, etc, are all tremendously time-consuming. 

If you're considering going down this path, just be very deliberate in identifying what you expect to get out of it. More sales? If so, is opening a retail location the best path to achieving your business goals, or would you be better off focusing on growing your online business? Or do you simply love the in-person interaction with other passionate fishermen? If that's the case, you may find better exposure and business opportunities attending shows, etc.

Crunch the numbers, then crunch them again. Be realistic and very conservative about your revenue expectations. Be very leery of debt -- it kills lots of businesses. Finally, think about where you want to be in 5 years. Changing trajectories is much easier with an online business than a retail location. 

Best of luck, whichever path you decide to pursue.

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location. and not competing with the big box stores. carry colors the big guys don't bring in.  and yes be prepared to eat kraft dinner for a while. be honest and fair. that's your best chance at it.

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Sounds like a 14 day per week "JOB" to me. Be prepared to be married to it.  If you tackle it, you'll have to hire a couple people to help you out. Can't do it all your self. 

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To me it seems like you have the right ideas & location to make things work out pretty danged well in my opinion. I'd want to open early & have a good breakfast bar/ deli too if it were me doing it. The bait making on the spot is a good idea too. Sounds like you'll be fine & good luck.

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