Bait and Tackle shop

another thing to keep in mind is your suppliers control a lot of your pricing. You will not have the ability to undercut the competitors by much nor very often on big named products. Being "popular" is going to require having the location, the parking, the knowledge and the attitude that customers want. Nothing turns me off quicker than asking a salesperson a question about a bait or product such as how you rig it, does it do this or that, only to have them start looking at the package or reading stuff off the computer screen. I could have done that myself and already have before I ask, I want real hands on information.
Never shun the little guy. He might want minnows and worms to feed his family fish, he doesn't need anyone making him feel like less of a fisherman for not using artificials, or being ignored because Mr Bigboat Offshore just walked in the door and might want a $200 pair of sunglasses. I have left my stuff laying on the counter more than once for such reasons and I don't forget it.

I would love to have a shop myself, pushing locally and small business made baits etc over the big names which I would stock but not in great volume. But the idea of being too busy to fish scares me. You need to be open early in the morning and on weekends, I cant stand the local shops here that close at 5pm and on weekends, makes NO sense to me. After work, early in the morning and weekends is when people need for you to be open.

I have had extensive conversations with a few buddies who are or were in the retail tackle business.

One buddy started a store in a small downtown historic district (aka high rent district). By having high rent, his pricing on alot of items was outrageous. He also sold high end outdoor clothing and like items to appeal more to the local demographic as these items had alot better profit margin than tackle, he lasted about 2 years at best before selling out. His advice to his friend who bought it, "get out of the tackle business". It wasnt because lack of business knowledge either as he was a CEO for a major company at one time.

Another guy I fish with does the purchasing for a tackle store in the Richmond VA area. Kind of like my first story, they are in a high rent strip mall right off 95 and have a reputation for rediculous prices, he says without clothing sales, there is no way they could survive on tackle alone. There just isnt enough room to make a profit and still remain competitive with online and big box stores.

Another store owner I know has a small hole in the wall store packed to the gills with good stuff and fair pricing. He is in close enough proximity to some popular fishing waters to do a fair amount of business on livebait and last minute tackle purchases on the way to the lake. From the way he talks he is barely breaking even on the store and living off his wifes check. He also puts in alot of hours running the store.

It seems to me that the little guys who survive and do well are running 1/2 tackle store, 1/2 something else. Bobcats in Clarksville is pretty much a full blown convience store with an extensive tackle section, they are also in a great spot right next to Kerr Lake in a building that probably isnt/didnt cost them a fortune. The Candy Store out there around the Yadkin chain is a full blown candy company making and selling candy, the tackle section was an after thought. Another guy I know who runs a store manufactures spinerbaits, jigs and alot of other stuff. Probably 1/2 the stuff he sells he makes so he can set his own prices on alot of his stuff (guessing he can make a $3 jig for about .50) as well as selling to other stores.

I considered a Tackle Truck, like a food truck. Mobile sales, just stick to the things guys use/need the most and a lot of "mom and pop" made lures. But locations would always be a factor. You cant set up on state property, so ramps are out. A lot of people now, myself included, will hit a tackle shop on occasion for "fun" or to check out something new to the market they have heard about. Rapala Shadow Raps for example, then get online and buy in bulk or for the lower pricing and convenience. Otherwise they only hit a tackle shop when the need is immediate. Shops used to be the place you got your local info, what's biting, where, what colors styles work this week etc but the internet and fishing forums killed a lot of that. So foot traffic is way down.
I can read some forums, check reviews and order online. Not good for small business but as personal finances dwindle price becomes the main factor..

Thanks guys for all of the input. I am retiring from the military in a few years and starting a business is one of my dreams. I have fished all over the East Coast as well as the Gulf of Mexico and I honestly can say I can count on my hands the friendly bait and tackle shops to go to. I want to establish something that not only appeals to full time fisherman but also a place a guy can bring his kids to buy some worms and minnows and go fish the bank. I also want to offer advice to the week end warriors. I am honestly tired of fisherman treating it like some secret society. This is not a venture to make myself rich, I want to pass along a hobby that I have grown to love.

Once again thanks for the input I knew if I put it out to some NC boys I would get some good responses as well as hospitality. I currently live in Destin Florida, which is supposedly the "luckiest fishing village in the world" its all about the money here and not the recreation and family outings that fishing is for me. I am moving back to NC soon and I cannot wait.