Need advice - please, anyone...
8 replies to this topic
Posted 08 August 2003 - 06:04 AM
I am thinking to quit my day job and start to make crankbaits. I am planing to make wooden cranks (you can see them in Gallery) and also pour plastic cranks.
Now I am doing some counting work and there is a big ? .... What can I expect if I will do everything right? (I mean advertising, product quality etc. )
How many lures (wooden and plastic) I can sell a month, a year?
P.S. Skeeter, I think, I don't have your new email, write me: firstname.lastname@example.org
Posted 05 September 2003 - 01:32 AM
Here is another question - how could I arrange payments on my website. Unfortunately there is no Paypal account for Lithuania. Maybe anyone knows other sources? Ebay?
As I remember tacklemaking.com was planing to arrange international shops: they collect all payments and then send check to shop owner monthly. This would be maybe the best way for me. Maybe anyone on the net is offering that kind of service?
Posted 08 September 2003 - 04:26 AM
don't quit your day job. make what you can at nights and weekends and see how it goes. you will need some equipment and a few workers to make a descent living doing this. it's a tough business.
Posted 08 September 2003 - 10:48 AM
It's true, better keep working while you get the lure making set up. Even
if you do get so busy you need help on the lure building/shipping/ comunications, it would be wise to 'keep the day job'.
It's easy to think everyone who fishes buys a lot of lures, but some of my friends (who catch plenty of fish) only buy one or two lures per year...
Posted 09 September 2003 - 08:21 AM
My salary is 4800 USD per year (yes, living in Lithuania is not very expensive )
I think, if I could make that money, I could quit my day job, because I am now studying in University (decided to get better education) and need more flexible work schedule. What do you think - it is possible to sell enough lures to get these money - 5000 USD?
Posted 09 September 2003 - 08:43 AM
One thing I would do if I were you, would be a competitive analysis, see how much money is spent in your market per year on fishing lures, contact a import / export broker, also, be sure you have time to make enough lures to make a living. If 5000 US is all you need a year to live in Lithiuania, then your going to have to sell your lures in your area pretty cheap. Hopefully you can contact an import export broker to export your lures to other markets in Europe. Hope this helps.
Posted 09 September 2003 - 11:10 AM
if you have a good looking, high quality bait, $5000 should not be a problem if you can produce the quantity needed. you need to send samples to a skilled american fisherman or manufacturer to get their opinion. also need to check import/export regulations and fees. how many can you produce a day?
Posted 09 September 2003 - 10:36 PM
I think that you can do this. If you made 500 lures and are able to sell your baits at 15 USD per lure then you could gross 7500 USD per year. I would try to sell your lures here in the U.S. or one of the other countries like England or maybe Germany. There are alot of fishermen in those countries too. There are fishermen that would pay 15 USD or more for a quality lure. If your lures catch fish and are of good quality, then I see no problem. I would try to make 100 lures and see how long it takes you. Then I would try to sell those and get a feel on how and where to sell them. This will all take time if you do it right. Check in your country on shipping to the US or one of the other countries and get an idea of the cost. Also check to see if there are any taxes or tarrifs for sending your baits out of your country to another. Keep your job until you get answers to your questions. Try to make and sell 100 baits and keep track of your time and cost. See what it takes to get it done. It will be a good learning experience. These are just thoughts. But, I think it is very possible to do.
Posted 10 September 2003 - 04:07 PM
Check out this Paypal link:
I'd be checking with Paypal to see what's available. They seem to be just about everywhere.
I think if I were you I'd be keep the day job and just enjoy the bait making and make some extra money on the side. It's fun and the competition is fierce. Be careful, but have fun while doing it. Good luck to you.