How to Make Fishing Lures for Profit

How to Make Fishing Lures for Profit
Some anglers choose to capitalize on their love of the sport by making lures for sale. Years of experience fishing for various game fish can provide insight into what does and does not work. From time to time an angler will develop a new or greatly improved lure that takes the fishing world by storm. More commonly, though, individuals deciding to make lures for profit create variations of lures they know, rely upon and have had success with.


Difficulty: Moderate

Things You’ll Need:
  • Business plan or strategy
  • Contacts
  • Lure-making supplies
  • Packaging
Step 1
Determine what kind or type of lure you will be making. Take into consideration the time involved in producing the lures, the amount of money you will have invested in a lure, at what point you can price the lure and possible demand for the lure.
Step 2
Evaluate your position in the market. Determine what, if any, contacts you have that can be of help when it comes to distributing and selling the lure. An analysis such as a SWOT (or strength, weakness, opportunity and threat) evaluation can provide great insight into if and how you should proceed. Consider talking with a small business counseling service.
Step 3
Experiment with making your lure and find ways to streamline the creation process and make the assembly more productive. Time and money go hand in hand. The amount of time it takes to make a lure can often be the determining factor as to whether or not it is feasible to attempt the endeavor.
Step 4
Evaluate your lure-making supplies and how much they cost. It will be necessary to closely monitor and track how much wire, paint, spinner blades and other materials you use in each lure. The cost of each lure should be closely and accurately tallied to determine the cost for making the lure. Also, consider the cost of electricity and other factors that go into making the lure.
Step 5
Determine a sale price for the lure. Compare the lure to other similar lures on the market. You will need to set a fair price that people are willing and can afford to pay. Keep in mind that the selling price minus the cost will be your profit margin.
Step 6
Package your lures. Packaging will help protect the lures during display, conveys a professional product and provides a means of advertising and contacting you for more lures or information. Choose packaging that allows anglers to easily view the lure while at the same time is cost effective.
Step 7
Think outside the box for ways to market and sell your lures. Sporting good and tackle stores are always good, but don't overlook convenience stores and gas stations near or on the way to fishing destinations. Consider contacting youth programs and summer camps and offering quantity deals.

Article Written By Keith Dooley

Keith Dooley has a degree in outdoor education and sports management. He has worked as an assistant athletic director, head coach and assistant coach in various sports including football, softball and golf. Dooley has worked for various websites in the past, contributing instructional articles on a wide variety of topics.

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