opening tackle store

[Jim Duncan]

I am thinking of opening a tackle store in my area. I know this question has been posed on here before, but I am just trying to get ideas of what you all would want in a tackle store. The store will be aimed toward the tournament bass angler, with some striper and crappie things involved as well. I would appreciate all thoughts and ideas. First off, I am planning on having the absolute best in customer service and attention to customers after the sale. After that, I am wondering, what would bring you into a tackle shop in the first place. If I get them in, I know I will get them back. Thanks all!

 

[TrepMan]

Jim - Here is my list, and to be honest there isn't a decent tackle store w/in 15 miles of my place, there are some good ones but they are not on my side of the lake. Being a weekend angler I may not be your target audience but here are my thoughts if the store was near by:



- Good cheap coffee!!

- Wide selection of baits, lots by local dudes/dudettes so I get the latest and greatest before its at walmart!

- live bait for the kids and stripers

- friendly staff

- the "usual" and customary tackle (hooks, line, sinkers, ...)

- something to 'differentiate' you from your competition if there is any. One of the Lanier baitshops (literaly right next to it's competition) differentiated itself with at "drive through" baitshop for live bait for striper and crappie fishermen!!



Trep

 

[Bruce Freeman]

Adding to what Trep said I will add something I saw @ a tackle store in Fla. He had the extra space and had half of his hanging racks set up on wheels so he could make room for local club or pre-tournament meetings to be held in his store. That and plenty of parking. Don't overlook a small supply of always needed at the last moment boat accs, like lights and misc hardware. Nobody can stock everything but sometimes something as simple as the roll pin for a TM can save the day.



Good Luck

Bruce

 

[Ken Sabin]

Sponsor Boy Scouts, Cub Scouts, Girl Scouts etc fishing trips. Maybe try and foster a working relationship with a local marina. Work a deal with them to sell boat launch passes at the store.



But I think youve already hit the nail on the head- Customer sevice- Its paramoiunt. There is too much competition. You must distance yourself from the "Big guys", and thats the way to do it.



Like Bruce said above, maintain a full inventory- Once I lost a trolling motor prop. Almost ruined the day. I drove to a marina that I had confidence in (Sturgeon Creek Marina Lake Anna, Va). ANd they had it and I was back on the water. I drove past 2 other shops to go there because of the service Ive gotten their before.



ANYWAY, good luck and keep us up to date with info!! Where is it going to be located?

 

[Ken Sabin]

oops, disregard

 

[Marty Klein]

I've absolutely no idea what your market environment looks like. However, price is a very big consideration and will always remain so. I may pay more for a pack of worms or an emergency boat item because I'm in a jam, but if I find out that it has been over-priced, then I will never return. This is always a difficult point for Mom & Pop shops trying to make a living competing against the Bass Pro catalog, Cabela's catalog, eBay, and Wal Mart. 10% above those guys seems to be my "whining threshhold." In addition to good coffee, I think if you have the opportunity to have gas and oil at competitive prices that would help. One stop between home and the lake is definitely within my whining threshhold. You've also got to be all things to all people if you can balance that. For example, if you've got Minn Kota emergency items, then you need to have Motor Guide emergency items; if you have GY Senkos, then you've got to have W Tiki Stiks. Customer service is an admirable quality, but you need to consider that as a given when you're thinking this though; strip it away as you assess what you like about all the different places that attract you.

 

[pete hanford2]

I am also thinking of doing the same thing.There is a local sporting goods store that the owner wants to sell it so he can retire. I have been kicking it around for a couple of weeks.Good luck and like everyone else,customer service is #1.

 

[Jim Duncan]

I am opening this store in Hickory, North Carolina. The main reason is that there are NO tackle stores in town. Surprising with the number of lakes in the area. There are some quality shops toward Charlotte and the Lake Norman area (including BPS), but they are all about 30-45 minutes away. There are club tournaments on Lake Hickory pretty much every weekend in the summer and tournaments all year on Norman. I am currnetly trying to find a location that will be an intersection between the two lakes. After all, location, location, location is the reason most businesses fail. Thank you so much for the information guys. And, by the way Marty, with all of the "market research" I have done, you pretty much hit the nail of the head. Everyone has said that price is their Number 1 concern. I guess I have always been on the other end of the spectrum. I will always pay more for an item if i believe that I will be treated well, and know that what I buy will be backed to the fullest if I encounter a problem. With that said, I am going to try and be as competetive as possible on pricing.

 

[Gilbert Scales2]

Jim, expect not to be fishing, hunting, anytime soon. It will take a great deal of your time to get it going. If you ad the man hours and the money you make, it will not be much. My friend just closed his, in order to make any money he had to be there 7 days a week. I am not sure if this is what you are looking for, check with Neely, he can shed some light.



Bubby

 

[Greg Meyer]

Jim,



May I suggest a few things, also... Learn how to repairr, clean and resondition reels... a traffic builder, if not a money maker... Price it lower in the "off season" or give $5 off... Also, repair rods...



Custom make jigs for the local guys the way they want them...



Carry a few of the low priced combos and also become a distributor for Lamiglas, Grandt or Loomis rods... (one will do fine)...



And, then the dreaded part... open early, be aware of tournament dates and be "there" for those guys..

 

[Marty Klein]

One thing to consider while you try to find a place between two lakes. If at all possible, try to be "on the way" to the lake. I don't that it should be a location warstopper, but when I'm headed to the lake I's really like to stay on the right path without deviation. Isn't Hickory where Lenoir-Rhyne College is at? I have a good friend living in that town.

 

[Teri C.]

Jim, my brother recently moved and lives on Lake Norman. I visited over Labor Day and took his jet ski out. Got totally lost! I had to go to a marina and call him to come get me. So, make sure you have a phone. HA!

 

[Major Mark]

if I have 1 constant complaint about the place our summer home is, the local bait shops think an good time to open for business is 6am ( & close between 4pm & 6pm)... when I'm on the lake, I launch while still dark, motor to my favorite spot(s), do a little graphing & throw the 1st line out before daylight. In a perfect world, in my opinion a shop catering to the fisherman & relying solely on the fisherman for his income, needs to open in the 4am area to allow stocking the baitwell fresh in the morning, not making you purchase your live bait the night before & hoping the minnows survive the night in an aerated cooler all night. There are no bait shops located on the lake either that would allow for a detour to their dock after opening time comes. Keeping in mind I'm referring more to as well stocked bait shop with some local lake knowledge of tackle stocked, not a tackle shop...opening time would be the most important thing to me.....



Good luck in your venture!

Maj

 

[Jim Duncan]

Marty.......Yes, L-R is here. I'm glad I'm not in college anymore.....well glad I'm not taking classes anyway

Teri........If you have never been on Lake Norman, it can be VERY daunting. Everything looks the same. But, it's a great lake once you get to know it.

Greg......I was pretty shocked, but All-Star does not have a distributer here, or even close really. I am thinking of All-Star and maybe Loomis, plus the regular lower priced stuff.

 

[Mark Gross]

Ask Ken Neeley about the possibilities ,pro's and con's .

Were the heck has he been anyhow ????



Mark :huh:

 

[Greg Meyer]

Neeley is probably living one of the "cons"... time gets eaten up by a business...

 

[Ken Neeley]

Greg,

I'm in the middle of a big fishing show....I'll chime in on this soon.

 

[Greg Meyer]

I hope it goes well Ken... Like I said... time and you need a clone...

 

[Larry Harp]

Jim, good luck on your new venture. I guess it's every mans dream to be their own boss and make a living from what you're passionate about and not just punch a clock at the salt mine.



While I certianly am no expert in this area I have made some observations. I've seen a couple of old established fishing tackle only stores go under since BPS opened in OKC. The ones that seem to suceed have something else to produce cash flow. For example; my favorite tackle store is really a lumber yard. The owner is an avid bass angler so several years ago he started carrying a small selection of fishing tackle which grew over time to a whole tackle department right in the middle of the lumber yard showroom. He always seems to have the stuff you won't find at the big box retailers like BPS, Academy, and Sportsmans Warehouse. He was the first in the area to stock Sweet Beavers, Paca Craws, and those swim jigs with the big blade (I can't think of the name :blink: ). He is the only place in town with Rite-Bite tubes (the best) and Bobby Garland Gitzits and Don Iovino. He also has the best selection of Yamamoto around...not just Senkos but Ikas and Hula grubs too. All this is possible because he has a steady flow of customers coming in the home improvement center/ lumber yard. Another sporting goods retailer that has survived BPS used to be about 50/50 fishing and hunting. They have move away from fishing and moved more toward the bow hunter with less selection for the bass angler.



I guess the point I'm trying to make is to think about something besides bait & tackle to make the door swing open. Don't forget that Johnny Morris started BPS in the back of his fathers liquor store. Somebody else suggested selling gas, that's a good idea but not a high profit item. I'm thinking something like selling food...perhaps box lunches for the tournement guys, ice, pop, beer. Maybe you know somebody who is a master barbeque cook who shares your dream of self employment and the two of you can partner up and share the risk. Even the big boys in the fishing tackle business are diversified into guns, bows, camping, sports wear, golf, ect. ect. ect.



Good Luck



Harpo

 

[Andrew Zuber]

PRICE

I'm shopping more and more based on price...

A brush hog is a brush hog, no matter where I buy it...

If you can beat the 'big guys' and wally world with your prices, I know you'll have plenty of customers...

Price chases me away from some of the 'smaller' tackle stores...I just can't justify $2 or $3 MORE for a pack of soft plastics or a crank bait....they're getting expensive enough as it is....



az

 

[Greg J.]

We had a close facsimile of a tackle shop here a couple of years ago. Actually, it had more hunting items than fishing. The original owner carried a few minnow buckets, some terminal tackle, large catfish rods, and overpriced worms and minnows, and he couldn't compete with WalMart. He didn't make it and sold out. The new owner seems to be making it, but he strictly deals in hunting gear, and I see banners on his store where he holds different seminars/meetings related to hunting through the various seasons, and I believe he reapirs bows. Additionally, I always see lots of vehicles (mostly pickups, go figure ) parked at the store, and hopefully he's selling stuff and not just making good coffee for his buddies.

 

[Scott Hammer TOXIC]

Rumor has it that Wal Mart is getting out of the fishing business.....Look out FLW!!!



TOXIC

 

[Mini]

Where in the world did you hear that Tox?

 

[Greg J.]

Rumor has it that Wal Mart is getting out of the fishing business

Heck, I have noticed that our WalMart is already starting to stock Spring clothing.....but nothing in fishing dept equipment. They're shelves are getting bare, with no re-stocking going on.

 

[Scott Hammer TOXIC]

From an industry guy at the boat show I did this weekend who has a lot of buddies in FLW and knows the way they handle the boat wraps and sponsorships. Somthing to do with the fact that the deals go through the FLW and they do not know which sponsor (Tide/Gain i.e., all Wal Mart products etc) they will be paired with. You do not deal with the manufacturer.



TOXIC

 

[Mini]

The way they handle sponsorships has nothing to do with the retail side of walmart. It wouldnt suprise me if they did eventually scale back. How many times have you seen baits for dirt cheap on a shelf at walmart at the end of the season. walmart is simple, if it dont sell we dont want it.



Mini

 

[Scott Hammer TOXIC]

I agree but he spoke specifically about having info in Wal Mart pullin out. If they do you heard it from me first, if they don't, it was a rumor and you don't remember who told you!!:lol:



TOXIC

 

[Steve Rizza]

I have two bait and tackle shops near me.

One is hardly ever open.They make enough money on the busy days to only open the hours they feel like manning the shop.



The other one when asked about their hours replies "whenever you ring the doorbell". I have stopped as early as 4:00 am,and had him come out in his bathrobe to get me what I needed.

Nice as could be, and acted as if he was glad to get my business no matter what time it was.



I'm not saying you should go to such extremes, but keep yours operating hours in tune with the customers you are targeting. Such as the early weekend fishermen, especially during the heat of the summer months.





Steve

 

[Bruce Freeman]

Walmart not renewing with the flw would have more to do with it not generating as much floor traffic as was expected. Or they want better terms for there major brands. If you look at the fishing dept at the 4 stores in my area you would guess they already have dropped out?

My .02 anyway



BF

 

[Jim Duncan]

I can't thank you all enough for the helpful information. It is looking more and more as this may actually go through. As long as I can find the right location, which I am going to look at a few places I think could be, it will be up and running in hopefully 4 months.......delays are always expected, though.

 

[Greg Meyer]

I was discussing your planned new bait shop with a resort owner... He related to me an unusual mix... Bait shop and cell phone store... Now his point to me was that a bait shop alone has a tough market to eek out a living... He said it was the only cell phone store in his mrural area and did a very brisk business... traffic... kept his bait shop alive by covering overhead with the cell phone business and made a profit on the bait and tackle...



So, if you can add some traffic builder lines of ancillary merchandise... My friend who operates a bait shop is also a "mini-mart" food and beer...



I also know from my own business that keeping "overhead" low is a key to profit and success.