Any business now has to have an on-line outlet to ad to your daily sales, but on-line only is not going to make the cut. To many big stores selling that way and a new comer could never compete with the corporate dollar.
But a physical store in a good location will always have a chance, because of impulse buying of the customer.
When they come in for their live bait before hitting the lake, they may just see that New Rod they wanted or that Reel that just calls out to them. haha
And with the physical store you build repeat customers for that area, not just the online shopper looking for the deal of the day.
And after they buy in your store, you have a better chance to sell to them on line also.