Bait and tackle shop near the water

Local anglers, weekend fishing families, tourists and visitors, and boaters heading out on the water.

Retail margin on bait, tackle and supplies, plus add-ons like snacks, ice, rod repairs and state fishing license sales if you become an authorized agent.

• Knowing local fish species and what they bite on
• Basic retail and stock management
• Friendly customer service
• Caring for live bait

• Sales tax registration with your state and a local business license, check with your city or county
• Your state fish and wildlife agency may have rules on selling certain live bait species, so check before stocking
• Live bait needs aeration, temperature control and daily care, and losses cut into profit
• Business is seasonal in many areas, so plan cash flow for slow months
• General liability and property insurance, and check whether you want to sell fishing licenses as an agent

Startup costs are typically around $15,000 to $70,000, depending on the size of the shop, your stock and any live bait equipment. Live bait needs aeration and temperature control, and losses can cut into profit.

Check sales tax registration with your state and any local business license with your city or county. Also check your state fish and wildlife agency's rules on selling certain live bait species, and whether you want to sell fishing licenses as an agent.

Estimated monthly revenue is typically around $4,000 to $20,000, depending on location, stock and season. Business is seasonal in many areas, so plan cash flow for slow months. The estimate assumes at least about 40 hours a week.