Starting a fishing related business?

[walleye.50megs.com]

I have an oppurtunity to start up my own rod company. Im fairly young(early twenties), and my rod sponsor has offered me an oppurtunity to start my own rod company. Does anyone have any advice, both positive ad negative, about this venture. Im really nervous about this. Please help with your thoughts.

[s.f.]

it all depends on your goals. to try and create a significant amount of the market share within the existing industry is almost impossible.
i'm involved with wristsaver rods which is a new venture in the rod game. of course, this isn't apples to apples because wristsaver rods are a very revolutionary design change. to build the first rod cost as much as a nice house. two years into it, things have gone well and the future looks good. but this is something NEW, not another rod like the rest.
good luck! but i'd go buy some lottery tickets instead.
#49

[waterfowler]

Well, I disagree with SF. You don't need to buy lottery tickets, just be willing to put a lot of hard work into this and you'll be surprised what may come of it. Set your goals high, but attainable. This will help keep you motivated. No, you probably won't compete with St. Croix the first few years, maybe never, but if you exceed your expectations then I would consider the endeavor a success. I wish you the best of luck!!

John

[FJH1]

I once heard: "Do you know how to end up with 1 million dollars in the fishing industry....start out with 2 million". It's tough to compete with the "big guys" (St. Croix, Loomis, Shimano and a slew of competitors from the far east where labor is dirt cheap). The business that seem to survive are those that enter into (or create) a niche and run the business like a business and not a hobby. Too many businesses fail because this industry (any other "hobby" industries) is rank with hobbyist business owners who think nothing of pulling a $20 out of the till at the end of the day to buy a pizza. I'll get off my soapbox now :-).

Best Regards,

FJH

[Fishoil]

If you have the drive it takes to succeed, go for it!! Plan on working LOTS of hours and making little or no money at first. If you can handle that, and you get a few breaks along the way, you will succeed. Be open minded, willing to change - both your business goals and yourself - and above all, be adaptable. You may start out building rods, then along the way find out that some other aspect of the business is more profitable; don't be afraid to move in that direction.

I went through the same decisions you're making right now 14 years ago. I went for it, and I've never regretted it either. Self-employment can be very trying at times, but it has a lot of benefits. If I can help you out further feel free to e-mail me.

[SUPERTROLLER]

I would think it's easier for you to take a chance now before you get more established in some other position. Once you start to build up vacation allowances, pension plans, etc., it makes for a much tougher decision to leave a secure environment. If you are not yet married and/or have kids it is better to do it now too. Your only obligation would be you. It's a lot bigger decision if you have these other considerations to account for. That all being said, you might not get another opportunity like this one. If you're willing to make the committment to make it succeed, GO FOR IT !!

[Sebastian]

WHAT A GREAT QUESTION! Lots of good suggestions too.
If you can gain the experience you'll need in business at an early age and better yet with someone else's money...then by all means grab it now! There are no mistakes, only learning experiences which can help you in many other endeavors in business you may come across...
just be sure to fasten your seat belt!

[walleye.50megs.com]

Thanks guys
the business is like this. I have a company who makes the rods with my company name and logo. They charge me a price say $32 dollars per rod. I sell them to dealers willing to carry my rods for say 80 dollars per, or direct to customers for $120 per. I have no inventory, just a catalogue of rods and a brochure with my pics and designs ect and a price list, everything is just ordered and sent. Im also aloud to build a custom rod to my costumers satisfaction and specs for a little more. All i do is keep track of business transactions. I know it'll be slow at first but i got time and plenty of drive. Ill also have to sponsor a couple of you tournament fishermen, thanks guys, i appreciate all the advice.

[AquaMan]

Good suggestions so far.

What is your target market? Who is your competition? What can you do better?

Zebco sells a lot of rods as does G. Loomis, but neither share the same market or compete with each other even though they both sell rods.

Most new companies start out with a real attention to detail both in product quality and customer service. They clearly outline their market and the competition and carve out a company from that strategy. The notion that something is hand-made and customers can interface with the "man" is a real factor for more buyers then people give credit. Look at some of the biggest names in this sport. They all started small; Some in the face of huge competition. Look at Warrior boats or some of the newer tackle cos.

Sometimes it is nothing more then the guy who stands behind the equipment. We have never met, but if you were at a show and I liked you, it would have a huge impact on my purchase choice over say, a St. Croix rod, etc. But I also prefer to support the little guys.

I bought a software package years ago call BizPlan. It gave me the guide lines to identify the important issues of my business and help target and maintain those goals.

Best of luck!

AquaMan~~~~~~~~~~~~~~~~~~~~~

It all begins and ends at the water's edge...

[Fuzzy]

Dude - thank god you posted this. Get out now. Run and hide from this death trap. It will ruin you. Hope this advice is helpful.

What was that name of that rod outfit again??? ;)

Give it a go - you are young - how bad can it hurt you?? As you get older you realize that you never regret the things you failed at more than the things you were too afraid to even try.