Looking at starting an online rodbuilding supply store

[AdamMcD]

hello all keen rodbuilders,

I'm looking at starting an online rod building shop and i was just chasing feed back before i start it up. Just to see whether it will be worth while.

Kind Regards

Adam

[Rodman]

Hi Adam

Mate, I build roughly 6 or 7 new rods every year and would repair roughly 30 per year.

The turn over of runners etc would not be that profitable.

I feel that I would represent an average part time rod repairer / builder.

You would need to get a list of rod builders like me and try and work out whether it would be in your interest to start this business,

Are you intending to run this business full time or part time. My suggestion would be that you start of part time?

My opinion for what its worth

Regards


Ken

[finga]

It would all depend upon price and delivery times.
You'll be competing against US prices with a delivery time of 5 days.

Another hurdle is the suppliers. Noth of them like online stores. They like shop fronts to walk into for some reason.

All the best though in your endevours.
Cheers Scott

[DR]

Another hurdle is the suppliers. Nothing of them like online stores. They like shop fronts to walk into for some reason.
Cheers Scott

it's just one way to control the market & keep their profits high.

you will need to carry quality gear at good prices, if you can import & resell product
at a price that makes it not worth the customer buying overseas it may have a bit of a chance..

[AdamMcD]

hey guys, looking at doing it part time to begin, I know pricing is the biggest part but will be trying to offer a free postage service. Suppliers arent an issue cause i am a rod builder full time at the moment i was looking at going into the manufacturing side but it is to hard with all the chinese rods on offer at the moment and to compete with there prices. I will be based in Qld so postage should be an issue on turn around.

[sandyd]

Adam it all sounds good but unless you carry a good range at a reasonable price you won't win. I don't think many of use mind paying a little more for an item, what we don't like is when we are talking in the hundred's.

The other thing is supply on demand. Two weeks ago I put 2 orders in, one to an Australian supplier and one to the USA, guess which one i got in four days and guess which one I am still waiting on.
If you go with this, one of the most important things is that what ever you advertise you sell, you must be able to supply on demand if you can't time after time you will lose sales.

All the best Adam and let us all know when you open.

[Stuart]

After all my years of experience I can’t see how you’re going to make a living from this. If you have the money to start this gig then I would invest the money in something more profitable than selling rod building components. There simply isn’t the rod builders to keep you going even part time, my advice would be to keep building rods. I’m not knocking you for having idea mate but I just cant see how this is going to get off the ground when there are so many already selling the same components. Have a go if you realy want to mate.

Stu

[Heath]

Adam,
Do yourself a favour and have a look at www.mudhole.com no doubt you will be familiar with them.
If you can provide a similar range and price then you might be in with a shot I reckon.

[Timmy94]

Mate i wouldnt take a risk, At the last boatshow i bought 2 fibreglass rods for $12 each, They are excellent quality and what i would expect in a rod of atleast $50. Asians can make these rods and get paid 5cents an hour (or a tiny amount of money) and make a huge profit.

[stevos]

Have you put together a business plan Adam? While this might seem like a waste of time my experience is that it really allows you to understand the maket and how you will be different from mudhole etc. This sounds easy, but its not untill you actually write it down that it makes a whole lot more sense.

The key thing to remember is that YOU build the value into your venture. Sure you might not offer as cheap prices as mudhole but if you can provide this value elsewhere you are likely to get good business. For the record I support this type of thing that will at the very least force domestic operations to become more competetive - the market seems to have little competition at the moment and needs a kick in the pants to remember they are operating in a capitalist society!

Cheers,

Steve

[tobig]

Stuart is dead on if you want to make money invest in some thing else not fishing parts

[nigelr]

Hi Adam.
I would imagine being able to accurately estimate demand for your product would be crucial to your success.
Would you be running this as a sideline of your existing rod building business?
Would it thus allow you to lower your own component costs, by buying in bulk?
In light of what other pro builders have said, the business plan idea would be essential IMO.
Have you identified your competitors and analysed their methodology/products/services?
Have you identified how you can beat them at their own game?
Do you have sufficient venture capital (of your own, as opposed to borrowed funds) that you are able/prepared to risk? Can you recover this through your own component usage via your existing business?
Just some things to consider.
Being realistic, it's all been done before, possibly by those with larger amounts of risk capital.
However that most certainly does not mean there are not opportunities for those who analyse things properly and are prepared to act accordingly, its just identifying that chink, that niche you can operate in!
Best of luck mate, whatever you decide.
Cheers.