Starting a Bait Shop
Do you love to fish? Why not put your passion to good use by opening your own bait shop business? A bait shop is a very rewarding business and it gives you the opportunity to earn while doing something in line with your interest.
A bait shop business is perfect for people who love to fish.
Starting a business is hard work and venturing into an industry that you are genuinely interested in will make the task more enjoyable for you.
Here are some pointers to help you start your very own bait shop.
Research. Research. Research. Your knowledge of fishing and baits will not suffice. You also need to learn the basics of business management. Here is a partial list of general management skills that you should learn: product pricing, customer service, sales planning/forecasting, marketing, bookkeeping, advertising, hiring & retaining employees, and so on.
The most important in the bait business is to choose a name for your bait shop. Try to select a name that is uncommon and yet easy to remember. Try to choose a name that only has one to two syllables. Short names are said to bring better recall.
Find a location for your shop. Choose a place that is conveniently located and accessible to your target market. Aside from the location, another thing to consider is the size of the space. Keep in mind that you will be putting tanks there for your live bait. You will also need storage space for your other baits (typically kept in jars).
Establish your store policies. How will you run your store? What time will you open and what time will you close? Will you accept card payments? Will you be able to manage your store alone or do you need to hire an extra hand? These are only some of the questions you need to consider as you outline your store operating procedure.
Procure the equipment you will need. A minnow tank with at least six divisions or compartments is essential since bait shops typically sell at least six different kinds of minnows. You will also need coolers to keep your leeches, nightcrawlers, wigglers, and worms fresh. The capacity and number of coolers you must acquire will depend on the size of your bait shop operation.
Packaging your products will be much easier if you have plastic or Styrofoam containers on hand. Your containers must have lids to keep your baits intact. An 8 oz container fits about a dozen worms, leeches, and nightcrawlers. 12 to 16 oz containers on the other hand can fit close to two dozen. For night crawlers and worms, use plastic containers. For leeches, use Styrofoam containers. Do not forget to get worm bedding. It is not advisable to pack your baits with soil since most customers travel outside the country to fish.
Promote your bait shop. Put the word out a couple of months before you open your bait shop. The success of your business will rely on the number of customers you reel in and you won’t be able to reel them in unless you bait them with your advertising materials.
Finally, have the proper mindset. A successful bait shop owner is self-motivated and is not afraid to work long hours. He is adept at multi-tasking. He does not hesitate to make calculated decisions. He takes each setback as a challenge and strives to fix the problem. He is committed to making his business work.
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