E
ED (The ORIGINAL and REAL one)
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Probably have closed down by the time you get there ...
Opening a Fishing Tackle Shop
- Thread starter nick salter
- Start date
Poshpaul (Angling Trust and PaSC)
Moderator
Nick,
Is this a clever marketing ploy? Provide with a bivvy + door. Then come knocking to ply me with Monks' reject ruffe slappers and one of them size O types that Deano's always going on about, oh...and 15 kg of Mango and Anchovy flavoured boilies.
That's one hell of a sales campaign
Is this a clever marketing ploy? Provide with a bivvy + door. Then come knocking to ply me with Monks' reject ruffe slappers and one of them size O types that Deano's always going on about, oh...and 15 kg of Mango and Anchovy flavoured boilies.
That's one hell of a sales campaign
Neil Maidment
Moderator
All the above is good advice, especially Graham's and Woody's.
I would expect the average "margin" or "mark up" in the retail angling business to be in the region of 40% to 50%. But it's not that simple!
To make it work, many retailers will use special offers, linked "packaged" purchases, other services and similar incentives to gain customers. Larger ticket items are more often than not sold giving a fixed (small) amount of margin rather than a percentage. Those trades are then often packaged with other services (pole kits, elastication etc etc).
Unless you have loads of spare cash lying around, you will need some financing to purchase stock. That financing will be expensive and therefore will not financially allow you to get the big ticket stock in and sell it in that way (the financing will cost more than the fixed margin = loss!).
Large retailers may well have special arrangements with the major manufacturers. Special financial packages or more commonly trading direct where the customer buys from the retailer but the "stock" is held by the manufacturer who delivers direct to the customer (the stock never touches the retailer).
Getting finance means drafting a carefully prepared Business Plan to present to your ever friendly bank manager. They will help in that preparation but a Start Up Retail Business Plan is a wonderous work of art and needs huge amounts of preparation and local research to be effective (and therefore stand a chance a gaining economic finance).
Good luck!!
I would expect the average "margin" or "mark up" in the retail angling business to be in the region of 40% to 50%. But it's not that simple!
To make it work, many retailers will use special offers, linked "packaged" purchases, other services and similar incentives to gain customers. Larger ticket items are more often than not sold giving a fixed (small) amount of margin rather than a percentage. Those trades are then often packaged with other services (pole kits, elastication etc etc).
Unless you have loads of spare cash lying around, you will need some financing to purchase stock. That financing will be expensive and therefore will not financially allow you to get the big ticket stock in and sell it in that way (the financing will cost more than the fixed margin = loss!).
Large retailers may well have special arrangements with the major manufacturers. Special financial packages or more commonly trading direct where the customer buys from the retailer but the "stock" is held by the manufacturer who delivers direct to the customer (the stock never touches the retailer).
Getting finance means drafting a carefully prepared Business Plan to present to your ever friendly bank manager. They will help in that preparation but a Start Up Retail Business Plan is a wonderous work of art and needs huge amounts of preparation and local research to be effective (and therefore stand a chance a gaining economic finance).
Good luck!!
F
Frothey
Guest
maybe 40-50% - or more - on the small stuff, but you've got to sell one helluva lot of packets of ?2.50 hooks to make a living!
not sure that rods etc have those sort of margins - the mrsp might have, but by the time the big guys knock them down......
not sure that rods etc have those sort of margins - the mrsp might have, but by the time the big guys knock them down......
David Naylor 3
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Interesting comments from everyone, bored with my job i've also been considering what would be involved with opening a tackle shop.
However one of my local tackle shops has had to close down, the other has a sign up pointing out to customers that if they choose to buy their kit from the internet/catalogue then tackle shops like his will have to close down.
In this day and age, no business can expect to be succesful without providing a web service or at least having a website. You can't complain that your business isn't doing well if you don't move with the times, unfortunately.
The
However one of my local tackle shops has had to close down, the other has a sign up pointing out to customers that if they choose to buy their kit from the internet/catalogue then tackle shops like his will have to close down.
In this day and age, no business can expect to be succesful without providing a web service or at least having a website. You can't complain that your business isn't doing well if you don't move with the times, unfortunately.
The
David Naylor 3
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Interesting comments from everyone, bored with my job i've also been considering what would be involved with opening a tackle shop.
However one of my local tackle shops has had to close down, the other has a sign up pointing out to customers that if they choose to buy their kit from the internet/catalogue then tackle shops like his will have to close down.
In this day and age, no business can expect to be succesful without providing a web service or at least having a website. You can't complain that your business isn't doing well if you don't move with the times, unfortunately.
The bait
However one of my local tackle shops has had to close down, the other has a sign up pointing out to customers that if they choose to buy their kit from the internet/catalogue then tackle shops like his will have to close down.
In this day and age, no business can expect to be succesful without providing a web service or at least having a website. You can't complain that your business isn't doing well if you don't move with the times, unfortunately.
The bait
David Naylor 3
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Interesting comments from everyone, bored with my job i've also been considering what would be involved with opening a tackle shop.
However one of my local tackle shops has had to close down, the other has a sign up pointing out to customers that if they choose to buy their kit from the internet/catalogue then tackle shops like his will have to close down.
In this day and age, no business can expect to be succesful without providing a web service or at least having a website. You can't complain that your business isn't doing well if you don't move with the times, unfortunately.
The bait delivery service
However one of my local tackle shops has had to close down, the other has a sign up pointing out to customers that if they choose to buy their kit from the internet/catalogue then tackle shops like his will have to close down.
In this day and age, no business can expect to be succesful without providing a web service or at least having a website. You can't complain that your business isn't doing well if you don't move with the times, unfortunately.
The bait delivery service
David Naylor 3
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Interesting comments from everyone, bored with my job i've also been considering what would be involved with opening a tackle shop.
However one of my local tackle shops has had to close down, the other has a sign up pointing out to customers that if they choose to buy their kit from the internet/catalogue then tackle shops like his will have to close down.
In this day and age, no business can expect to be succesful without providing a web service or at least having a website. You can't complain that your business isn't doing well if you don't move with the times, unfortunately.
The bait delivery
However one of my local tackle shops has had to close down, the other has a sign up pointing out to customers that if they choose to buy their kit from the internet/catalogue then tackle shops like his will have to close down.
In this day and age, no business can expect to be succesful without providing a web service or at least having a website. You can't complain that your business isn't doing well if you don't move with the times, unfortunately.
The bait delivery
T
The Monk
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is there an echo in here or is it me
paul martin 7
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It's you...It's you.......It's you....................
S
Steve King
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Nasty stammer you have there mate!
nick salter
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sorry guys I have been in meetings all day, sadly not about securing the bivvy beauties for Posh Paul. Neil the direct route if you can get it looks the most interesting. in that way it is more of a marketing operation with no stock holding costs. If you can get your advertising sorted out then perhaps there is something there. but basically with no product differentiation and a price driven consumer the tackle shop cant make a decent living unless it starts to offer exclusive products. how about starting the next FOX or TFG? does the world need another method feeder or rig box?
John Southgate
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haven't read all the replies (lazy yeah yeah) but my local shop just closed down. the problem is many people (me included) order from the internet these days. while the prices are good you do miss out on some of the expert advice. any tackle shop that you open would need to have a large internet presence and you would need to make sure it is on the first page of any google searches (probably fairly expensive). some kind of exclusive distribution would also be a bonus (as per recnt replies).
Ray Daywalker Clarke
Well-known member
Unless we support or tackle shops we will be in trouble getting what we want at short notice.
Your going out the door fishing and forgotten something, i know i'll go on the inter net and wait a couple of days then go fishing.
Good luck if you go ahead with the shop. We need shops forget the inter net for your tackle, your helping to kill our own sport.
Your going out the door fishing and forgotten something, i know i'll go on the inter net and wait a couple of days then go fishing.
Good luck if you go ahead with the shop. We need shops forget the inter net for your tackle, your helping to kill our own sport.
John Southgate
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a very good point ray. my problem is living in london it is not that easy to get to a decent one that i know stock everything i need. catch 22 hey.
Ray Daywalker Clarke
Well-known member
Yes John catch 22,
Years ago you could buy tackle from lilly whites and harrods and im not joking.
Both stores had a great selection of tackle, and if i was in the west end working late i could still get what i wanted as they stayed open late.
Shops are in short supply support them.
Years ago you could buy tackle from lilly whites and harrods and im not joking.
Both stores had a great selection of tackle, and if i was in the west end working late i could still get what i wanted as they stayed open late.
Shops are in short supply support them.
steve pilkington
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I opened my tackle shop 12 months ago. It is a lot of hard work and you don't get to go fishing very often, but it has its plus side as well. So do it if you want, its only money!
E
ED (The ORIGINAL and REAL one)
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Nick you said
"If you can get your advertising sorted out then perhaps there is something there."
That is probably, next to buying your stock, the biggest plughole that your money will disappear down...
"If you can get your advertising sorted out then perhaps there is something there."
That is probably, next to buying your stock, the biggest plughole that your money will disappear down...
Neil Maidment
Moderator
"The direct route" and/or economic credit facilities with major suppliers usually only come with excellent credit history and track record. That takes time and money to establish, catch 22 for a start up position.
Totally agree with the comments about supporting your local tackle shop. I'm "lucky" in that I have several well established in my local area and there's also those on site at the local commercials as well.
But if I had the money, I would think more than twice before committing to starting up such a venture.
Totally agree with the comments about supporting your local tackle shop. I'm "lucky" in that I have several well established in my local area and there's also those on site at the local commercials as well.
But if I had the money, I would think more than twice before committing to starting up such a venture.