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Old 01-13-2009, 01:44 PM   #1
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Default Tackle Shop on NC coast - Invest?

Retired, but working part time 65 year old is thinking of buying an existing tackle shop on the coast of NC. The shop has been around for a few years and is doing a decent business with a good reputation in the area

I have worn a lot of hats in previous jobs, but managing a tackle shop is not one of them. Would appreciate hearing from people who own (or have owned) a tackle shop about the unique issues they faced and any advice they want to offer.

I am thinking no one has a crystal ball that will show the future; but if you do, I would be real interested in hearing about that (smile).

Capt. Ed, wishing you tight lines and happy faces
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Old 01-13-2009, 01:54 PM   #2
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Default RE: Tackle Shop on NC coast - Invest?

Remember, you will be getting up at o-dark-thirty not to go fishing, but to the store. But it does have some good possiabilities
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Old 01-13-2009, 02:31 PM   #3
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Default Re: Tackle Shop on NC coast - Invest?

a tackle shop would be a poor investment, if you got cash...sit on it!
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Old 01-13-2009, 04:25 PM   #4
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Default Re: Tackle Shop on NC coast - Invest?

If you can compete with the prices on eBay for tackle, go for it.
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Old 01-13-2009, 04:58 PM   #5
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Default Re: Tackle Shop on NC coast - Invest?

Had a friend in the business.....Basically made no money at all on rods and reels, a little money on lures and line and a sh*tload of money on bait!!! He said if all could sell was killies and squid he would be happy. Hours suck......His store was open at 4ish in the am and open til 7ish in the PM. He couldn't afford to pay the help much so he basically got kids that wouldn't show up or he was there long hours. He made 90% of the money on weekends and watched a lot of TV during the week. He closed from New Years to Easter.........The shop was in Jersey.......
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Old 01-13-2009, 07:00 PM   #6
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Default Re: Tackle Shop on NC coast - Invest?

Where in NC. Some places it would be great others would suck....Mark
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Old 01-13-2009, 07:24 PM   #7
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Default Re: Tackle Shop on NC coast - Invest?

I have run tackle shops and currently work in the tackle business - I would not recommend investing in an independent tackle shop, period. As the old saying goes: the best way to make a small fortune in the fishing tackle business is to start with a large one!
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Old 01-14-2009, 03:58 AM   #8
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Default Re: Tackle Shop on NC coast - Invest?

competition gets stiffer every year especially with online retailers.

tuff biz with decent at best financial rewards.

buying right is huge. if you don't carry the right stuff that is bought at the right time and at the right price, you'll never be able to compete as your price will always be higher or even too high. it's a tuff biz especially if you don't know the industry secrets that keep good shops competitive and in business.

lots of temptation if you don't know your stuff to carry too much or many of the similar items (a zillion sku's from a zillion suppliers) and try to be all to everyone. even cabelas and bass pro carry tremendous amounts of lines and inventory but even they can't carry everything.

if you don't want or need to make big $ and need to get out of the house and away from the wife everyday it's an option. but you'll be stuck with picky cheap azz old salts who want shit for free.

that said, i really appreciate good service from good shops and they retain my loyalty.
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Old 01-14-2009, 05:10 AM   #9
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Default Re: Tackle Shop on NC coast - Invest?

I agree with all of the above posters; however the best way for you to determine if this business may be right for you is to work full-time at the shop and shadow the current owner and then after a couple of weeks you will know if you have what it takes to turn a very competitive business into a money maker. Our local tackle shop owner looks perpetually worn out and it is not from overfishing but the long and stressful hours he puts in and I think he has one of the more successful shops around. If he will not let you do this then run the other way and be happy you did....


Albury Brothers 20' w/175hp Suzuki
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Old 01-14-2009, 05:19 AM   #10
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Default Re: Tackle Shop on NC coast - Invest?

Depends on where it is and what your financial objectives are. Would you be buying the store and the land or just the business? I have a couple of friends who bought a small beach motel in Surf City NC about 8 years ago. Running the motel nearly killed their marriage, but they sold it two years ago and now they're multi-millionaires. Think getting up early nearly every morning to go to work and not having much, if any, vacation time.



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Old 01-14-2009, 06:54 AM   #11
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Default Re: Tackle Shop on NC coast - Invest?

Thanks everyone, lots of good information flowing my way. That was a great idea about working there and when I thought about that; I realized I did not want to work there. So the answer was in front of me...

Decision is made:
tackle shop -> No
fishing every chance I get -> yes

Wishing everyone a tight lines and big smiles year!
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Old 01-14-2009, 11:32 AM   #12
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Default Re: Tackle Shop on NC coast - Invest?

Two fastest ways to lose $1 Million????

1. Go to Vegas...
2. Open a restaurant
somewhere in the top 5...
open a tackle shop.
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