Very great insight 👍👍 tons of opportunity left in the lure space, we are all looking for our place to thrive in it. I'll be checking out your friends lure design operation for sure.
Interested in your take on this Chris. Basically you two have opposing views. Many of us have been inspired to create lure companies using Anglingai or other standard molds via your channel, this is the viewpoint where basically if your not going custom you are doing it wrong. Do you know many successful lure makers using AI molds? Or are the people really succeeding using customs?
@@nightfishercustombaits2119 I think you have to define success, can you make money using off the shelf molds? Yes, but how big you can get is fairly limited and you are not building a company that has any value long term. The success is limited to “beer money” or side hustle level income. Is that is success for you then great! If success is something bigger than that then I believe you have to be doing something beyond that.
@@nightfishercustombaits2119 I think the term success is subjective..Bill makes a great point that running a garage do it yourself bait business can be a good source of extra income, if at least pay it for itself and reward the person with more creative satisfaction than monetary. There are a few people who have really put in the work to succeed (full time sustainable employment) shooting baits in there homes with generic molds. RAW baits, top shelf tackle to name a few..I think most guys will eventually opt to get a few custom forms made to leverage the custom bait angle even more. Part of what makes you attractive as a custom bait maker, is the charm of the customer buying something made in small quantities by a real human..even if it just a senko.. I think a lot of bait makers are trying to compete with the big brands when that is simply not our game. Bill makes a good case for going bigger to obtain real market share, as in retail demand. Most people do not have the capital to make such investment, but I have found there is plenty of success to be had just in your garage alone. So I would not say that we have opposing viewpoints, I am just coming more from the angle of the garage bait maker.
Love it! Interestingly enough, I just started injecting my own lures - and guess what my background is? Enterprise software sales - but works closely with product management folks! What a small world.
@@WMBayouLures Yep! I'd love to jump to the "company getting acquired for $250M" part anytime now :) I'm currently building a training company for the second time after reaching some success, letting my employer shut it down, then rebooting it a year later in another form...meanwhile, considering the fishing business since that's my true passion :)
Great video Bill, it's where I'm at now, as you know. I've just shelved all but one of my bought moulds and am in the process of prototyping that one's replacement. A very different lure scene here in the UK to you guys as there aren't that many of us in the soft plastic world. Keep the videos coming. I'm off to pack baits 🤣 Tom
I am dealing with figuring out how to protect my unique design. There is nothing like it on the market. I hand-carved the master and made the open-pour molds.
99.999% of the time it’s not worth it. It really doesn’t matter if it’s hand carved and you haven’t seen it anywhere, if it looks like anything in nature you can’t patent it. I have a long interview with a patent attorney here - Fishing Lure Patents - Everything you want to know with Dylan Adams ruclips.net/video/QP1dWPQ42Y0/видео.html
@@WMBayouLures My invention is a salt water vertical jig and can come in several individual colors with single or duel assist hooks, there's nothing on the market hat looks like it. Its.. At the moment it only comes in one weight size. Can it be patent? Should I patent before I bring it to market? Should I get a patent attorney to do the patent? or can I do it myself. I've tested the lure myself and it works great. Your thoughts would be appreciated
@@fishyknife Every lure I design is not something currently on the market, and I don't have a patent on any of them. Just because nothing is like it on the market, doesn't mean it can be patented or it hasn 't already been patented. While technically you can get a patent yourself, the chances of it being a patent that can't easily be circumvented is fairly small. Writing patents is a skill/art. A good patent attorney is going to cost you $10k-$20K dollars to go through the entire process. If you get a patent (big if) then you will need an attorney to send cease and desist letters to everyone that violates it, if you miss one then your patent becomes basically worthless. This will get you a US patent, no one outside the US is covered by this patent. So China, Japan etc can copy it and make there own version. You will spend countless hours playing whack a mole keeping these listings off of Amazon/Temu etc.... So how many lures do you have to sell before you get $15K back? It usually answers itself....
@@WMBayouLures Net 7/8 bucks off each lure/15k not a problem. The problem is knock offs made in china and sold on temu etc. Spoke to the company and the manager hinted at what we were going to use there product for. If we get the patent in US and then would like to sell it over seas. we talked to the company and they said it would be possible to make the mold in different sizes which truly make this one of a kind lure. "patent there bigger mold?" It would not be hard to spot patent infringement on amazon/ebay etc. Air tight design patent? We dont want to waste time and energy by going down this rabbit hole only to play whack a mole. My question is how you would go about this since you design lures. Do we get a provisional first then fully patent or throw it on the market here and say "there just gonna copy it any way?" It's a basic design, not complicated at all? P.S. we will also be selling other fishing related products year round on our web site.. This lure would bring them to our door to build our brand name?
the only issue I really see is that the home bait maker uses non biodegradable plastics and I see people come after to close that down. So what can we use instead of Plastisol? I hate using the word but green or environmentally friendly?
Would love to find a material like that! I saw some in Australia post about starting a project to find a solution but nothing has really happened yet. If you know anyone that might be able to help find such a material I would love to speak to them. I have some contacts at Rice University that I am going to ask about how such a project might get started. I do know that most people outside the space think it is simple but once you understand the requirements it becomes very difficult. FYI it’s not just home bait makers that use plastisol (the non-biodegradable material used to make soft plastic lures) it is 99% of all soft plastic lures made on the planet. The only biodegradable lure material I am aware of is Berkeley Gulp and that is not only patient protected but also has several limitations to its broader use in the industry.
yes I am not sure why people think this is a massive issue, it is a small tax paid on your wholesale price. Find a good tax prep person and pay it. I am not qualified to speak to the specifics but the American Sport Fishing Association has a great video here - ruclips.net/video/mUud6S9QoS0/видео.htmlsi=o_V6j8OdqPjuEDmw
Bill, please keep the business info coming, because this stuff is applicable not only to a lure business
BIll that thumbnail is the stuff of nightmares. I've really been enjoying the content. Keep up the good work.
Very great insight 👍👍 tons of opportunity left in the lure space, we are all looking for our place to thrive in it. I'll be checking out your friends lure design operation for sure.
Thanks man! I am officially star struck! 🤩🤩
Interested in your take on this Chris.
Basically you two have opposing views.
Many of us have been inspired to create lure companies using Anglingai or other standard molds via your channel, this is the viewpoint where basically if your not going custom you are doing it wrong.
Do you know many successful lure makers using AI molds? Or are the people really succeeding using customs?
@@WMBayouLures haha no need for that... great video
@@nightfishercustombaits2119 I think you have to define success, can you make money using off the shelf molds? Yes, but how big you can get is fairly limited and you are not building a company that has any value long term. The success is limited to “beer money” or side hustle level income. Is that is success for you then great! If success is something bigger than that then I believe you have to be doing something beyond that.
@@nightfishercustombaits2119 I think the term success is subjective..Bill makes a great point that running a garage do it yourself bait business can be a good source of extra income, if at least pay it for itself and reward the person with more creative satisfaction than monetary. There are a few people who have really put in the work to succeed (full time sustainable employment) shooting baits in there homes with generic molds. RAW baits, top shelf tackle to name a few..I think most guys will eventually opt to get a few custom forms made to leverage the custom bait angle even more. Part of what makes you attractive as a custom bait maker, is the charm of the customer buying something made in small quantities by a real human..even if it just a senko.. I think a lot of bait makers are trying to compete with the big brands when that is simply not our game. Bill makes a good case for going bigger to obtain real market share, as in retail demand. Most people do not have the capital to make such investment, but I have found there is plenty of success to be had just in your garage alone. So I would not say that we have opposing viewpoints, I am just coming more from the angle of the garage bait maker.
Love it! Interestingly enough, I just started injecting my own lures - and guess what my background is? Enterprise software sales - but works closely with product management folks! What a small world.
Thats funny! I see your are in Cybersecurity and that is where I spent the bulk of my career, small world!
@@WMBayouLures Yep! I'd love to jump to the "company getting acquired for $250M" part anytime now :) I'm currently building a training company for the second time after reaching some success, letting my employer shut it down, then rebooting it a year later in another form...meanwhile, considering the fishing business since that's my true passion :)
@@NRDYTech lol only took me 30 years! ;-)
Great video Bill, it's where I'm at now, as you know. I've just shelved all but one of my bought moulds and am in the process of prototyping that one's replacement.
A very different lure scene here in the UK to you guys as there aren't that many of us in the soft plastic world.
Keep the videos coming.
I'm off to pack baits 🤣
Tom
Some good insight there Bill, although I reckon you can drop bait making and get into the RUclips thumbnail business🤣
100% Facts! 😆
That thumbnail😂😂😂😂
I am dealing with figuring out how to protect my unique design. There is nothing like it on the market. I hand-carved the master and made the open-pour molds.
99.999% of the time it’s not worth it. It really doesn’t matter if it’s hand carved and you haven’t seen it anywhere, if it looks like anything in nature you can’t patent it. I have a long interview with a patent attorney here - Fishing Lure Patents - Everything you want to know with Dylan Adams
ruclips.net/video/QP1dWPQ42Y0/видео.html
@@WMBayouLures thanks for sharing!
@@WMBayouLures My invention is a salt water vertical jig and can come in several individual colors with single or duel assist hooks, there's nothing on the market hat looks like it. Its.. At the moment it only comes in one weight size. Can it be patent? Should I patent before I bring it to market? Should I get a patent attorney to do the patent? or can I do it myself. I've tested the lure myself and it works great. Your thoughts would be appreciated
@@fishyknife Every lure I design is not something currently on the market, and I don't have a patent on any of them. Just because nothing is like it on the market, doesn't mean it can be patented or it hasn
't already been patented. While technically you can get a patent yourself, the chances of it being a patent that can't easily be circumvented is fairly small. Writing patents is a skill/art.
A good patent attorney is going to cost you $10k-$20K dollars to go through the entire process. If you get a patent (big if) then you will need an attorney to send cease and desist letters to everyone that violates it, if you miss one then your patent becomes basically worthless.
This will get you a US patent, no one outside the US is covered by this patent. So China, Japan etc can copy it and make there own version. You will spend countless hours playing whack a mole keeping these listings off of Amazon/Temu etc....
So how many lures do you have to sell before you get $15K back? It usually answers itself....
@@WMBayouLures Net 7/8 bucks off each lure/15k not a problem. The problem is knock offs made in china and sold on temu etc. Spoke to the company and the manager hinted at what we were going to use there product for. If we get the patent in US and then would like to sell it over seas. we talked to the company and they said it would be possible to make the mold in different sizes which truly make this one of a kind lure. "patent there bigger mold?" It would not be hard to spot patent infringement on amazon/ebay etc. Air tight design patent? We dont want to waste time and energy by going down this rabbit hole only to play whack a mole. My question is how you would go about this since you design lures. Do we get a provisional first then fully patent or throw it on the market here and say "there just gonna copy it any way?" It's a basic design, not complicated at all? P.S. we will also be selling other fishing related products year round on our web site.. This lure would bring them to our door to build our brand name?
the only issue I really see is that the home bait maker uses non biodegradable plastics and I see people come after to close that down. So what can we use instead of Plastisol? I hate using the word but green or environmentally friendly?
Would love to find a material like that! I saw some in Australia post about starting a project to find a solution but nothing has really happened yet. If you know anyone that might be able to help find such a material I would love to speak to them. I have some contacts at Rice University that I am going to ask about how such a project might get started. I do know that most people outside the space think it is simple but once you understand the requirements it becomes very difficult.
FYI it’s not just home bait makers that use plastisol (the non-biodegradable material used to make soft plastic lures) it is 99% of all soft plastic lures made on the planet. The only biodegradable lure material I am aware of is Berkeley Gulp and that is not only patient protected but also has several limitations to its broader use in the industry.
you mentioned nothing about paying federal excise tax for fishing lure sales
yes I am not sure why people think this is a massive issue, it is a small tax paid on your wholesale price. Find a good tax prep person and pay it. I am not qualified to speak to the specifics but the American Sport Fishing Association has a great video here - ruclips.net/video/mUud6S9QoS0/видео.htmlsi=o_V6j8OdqPjuEDmw