Fishing Equipment Business Plan

There are two marketable products stemming from the same patent. One will result in royalties when the patent is licensed to the right fishing gear marketing company. The other is a kit which makes it possible for a certain narrow segment of fishing enthusiasts to make up the Supreme before it is actually ready for mass distribution.

3.1 Product Description

The Supreme is a standard hook combined with a specially-designed bait holder that eliminates the drawbacks of the conventional methods of attaching live bait. Initial, non-laboratory testing of the Supreme has shown an increased enjoyment of the sport. This is as a result of greater attraction of fish to the live bait swim action and increased hook-ups because of the full-hook exposure. The invention also has wider application in use with shrimp or crab bait, as well as with dead bait trolling.

Benefits of the Invention

• Increased hook-ups by permitting full-hook exposure in a more disguised manner.
• Faster rigging of bait fish so as not to keep the bait fish out of the water for long periods of time.
• The barb attaches to the bait fish under the scales and skin, rather than vital parts of the fish, prolonging the life of the bait fish, and allowing the bait fish to swim naturally.
• Keeping the bait fish on the hook is less of a problem because of the holding barb.
• Due to the location of the hook on the bait fish, chances of a hook-up with the target fish are greater.
• Several body locations of the bait fish can be used in mounting the patented hook.
• Excellent application in either freshwater or saltwater fishing with live shrimp or crab where the barb is easily inserted under the carapace.
• Fun and easy to use.

Do-it-yourself Kits:

As mentioned earlier, before the invention can be manufactured and brought to market, the Supreme can be marketed in kit form. This kit contains barbs, which are an essential element of the hook. They are crimped onto most any commercial hook and fixed with epoxy. All the apparatus for doing this is contained in the kit, including the necessary crimping tool. Additional barbs can be purchased at minimal cost, making the kit attractive to a narrow segment of enthusiastic fisherman.

Prototypes for the kit are ready to be shown to wholesalers and retailers. As of this writing, an initial order of 250 kits has already been received. However, kits will not be ready for sale until January 2001.

3.2 Competitive Comparison

This product is unique. A normal competitive comparison analysis cannot be offered. However, do-it-yourself kits are not unknown in the industry. Section 5.2.2, Pricing Strategy, lists several of these kits and their prices.

3.3 Sales Literature

Excellent graphics have been prepared to demonstrate the features of the hook. These need to be incorporated into a brochure that will double as a mailer. We will add contact information, including phone and fax numbers, and our website address. This project is currently under way.

3.4 Sourcing

Sourcing of the raw materials to produce the kits is not difficult as there is more than one supplier of each essential part of the kit. Some suppliers are located further from Oregon than is wished, but as sales of the kits increase, opportunities to obtain suppliers closer to home are expected.

3.5 Future Products

Future products are already on the drawing board at Seacliff, including:

1. Rod and Reel action holder, which provides additional leverage and mobility.
2. Non-toxic dead-bait trolling stabilizer.
3. Adapter rod holder for bait jiggers.