A good bait and tackle shop can make about $45,000 a year if it’s small. Larger franchise bait and tackle shops can make over $200,000 in profit annually.
Fishing Bait Costs
- Live fishing bait costs between $0.25 and $0.95 per bait.
- Artificial bait typically sells for $0.95 to $10.
Selling Bait in Florida
To sell your catch in Florida, you must have a valid Saltwater Products License (SPL).
A bait and tackle shop is a fisherman’s go-to supply shop for bait. If licensed, it can make additional income by selling drinks and snacks to fishermen. Some shops also sell snacks.
- Cons:
- Seasonal business
- Inconsistent availability of fish
- Let’s assume that the bait shop sells a variety of items, including live bait, lures, fishing lines, and other fishing equipment.
Retailers of Fishing Tackle
Examine existing fishing tackle retailers to understand what they sell, the prices they charge, and the services they offer.
A bait and tackle shop can generate substantial profit, with smaller shops making about $45,000 annually and larger franchises making over $200,000.
Legal and Financial Considerations
- Forming an LLC
- Securing a relationship with a local bank
Market Insights and Business Setup
Source high-quality fishing tackle products, gather market insights, and organize legal and financial aspects.
Starting a bait and tackle shop requires the right products, good record-keeping, strategic branding, and effective promotion for long-term success.