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Message Subject: Selling your lure line/company?

Grunt Lures

Posted 7/30/2007 5:13 PM (#267833)
Subject: Selling your lure line/company?

Posts: 786

Location: Minnesota

Anyone know what a lure line would go for? Basically I am thinking about selling my Grunt lure. Nothing bad (in fact good money) but, I am a one man show and it is taking a lot of time away from my wife and kids. Just curious if anyone has sold a lure model before. My website and some terminal tackle would also go with it. Just looking for general info on it. If I do sell it I will put it up for sale in early 2008. Might even just put it up on eBay. Can't sell right now though as I have about 300 Grunts ready to go right now that I made over the summer so far.

Thats about $10k for 2 months of weekend work!

TIA,
James

castmaster

Posted 7/30/2007 7:16 PM (#267848 - in reply to #267833)
Subject: Re: Selling your lure line/company?

Posts: 910

Location: Hastings, mn, 55033

Price is going to depend on what sales & revenues are, product line, pre existing contracts for large orders(stores) included inventory, materials etc etc etc.

muskynightmare

Posted 7/30/2007 7:28 PM (#267849 - in reply to #267833)
Subject: Re: Selling your lure line/company?

Posts: 2112

Location: The Sportsman, home, or out on the water

Sent you a PM, Grunt.

RiverMan

Posted 7/31/2007 12:28 AM (#267901 - in reply to #267833)
Subject: Re: Selling your lure line/company?

Posts: 1504

Location: Oregon

I have read that the "general rule" is 3 times what the business makes in a year..........so a 10k/yr biz would go for 30k. Of course what you "actually" get is what the business is "worth".

jed v.

Grunt Lures

Posted 7/31/2007 8:11 AM (#267913 - in reply to #267833)
Subject: Re: Selling your lure line/company?

Posts: 786

Location: Minnesota

Thanks Jed. That $10k was gross. If my time was free the actual profit number was about $6500. I need to dig up my taxes to see. That is if my time is free

My wife says it is actually a negative number...

James

Guest

Posted 7/31/2007 11:38 AM (#267943 - in reply to #267833)
Subject: RE: Selling your lure line/company?

3 to 5 times (max) of what a company profites are is somewhat the norm. If your company can't make a profit it's not worth much!

Riverman

Posted 7/31/2007 5:11 PM (#268015 - in reply to #267833)
Subject: RE: Selling your lure line/company?

My wife says the same thing James, sad part is I think she's right!! lol.

Jed V..

Grunt Lures

Posted 7/31/2007 9:06 PM (#268039 - in reply to #267833)
Subject: Re: Selling your lure line/company?

Posts: 786

Location: Minnesota

I work for a big company to pay my bills and they usually pay 7 times profit for current year. At least that is were they start out. I am sure a lot more goes into it than just that simple calculation and I am sure chemical companies may bring more than the average small lure company... I think 3-5 would be fair for a tackle company depending on the brand recognition, future outlook, popularity, etc. All of which my lure does not have a lot going for it as it is a relatively unknown lure. Minus my yakking here

Keeping it is always an option too. I can always work less than I do and work four weekends a year and make enough to take my kids to Disney and stay in the nice resort plus flights. Not sure I can do much more to pay for a vacation like that in a short amount of time. This is fun but, after you make 200 in a row it does turn into work.

James

Kingfisher

Posted 8/2/2007 8:56 AM (#268253 - in reply to #267833)
Subject: RE: Selling your lure line/company?

Posts: 1106

Location: Muskegon Michigan

Hi James, most companies are not buying designs. You will need to find someone looking to do the work and carry on the name and all. Like the way Cady sold the Weagle and Wabull. I have had a couple of offers to sell Talonz wooden lure company. Both guys were being smart as they offered to buy before we grew into what we are becoming today. Im going to keep digging deeper into the market before I sell. Once I get my sales over $50,000.00 per year then Im going to put it on the market. With a family and another job you are up against it . I was trying to do both until last year. I dont have any kids at home and it was still tough. Watching the Video of the Grunt 16 incher running next to the Grandma lure it looks like you have winner in the design. No doubt it will put fish in the boat. Good luck and take care James. Kingfisher

Grunt Lures

Posted 8/2/2007 8:32 PM (#268360 - in reply to #267833)
Subject: Re: Selling your lure line/company?

Posts: 786

Location: Minnesota

Thanks King! You were by far the most helpful person I talked with when I started. You helped me not make a lot of mistakes. I need to see how some other things go. If I coudl get into a new home that woudl make keeping my lures alive. Just need the money now. Guess that means I need to sell soem more lures

James

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