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outdoorsman95

starting a plastic mold company

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Hey y'all, 

I've been looking into making plastic baits to sell as a small side business. However i'm not sure if I can legally buy a mold online and use it to sell the plastics they produce. Also if anyone can help point me in the right direction on what I would need to do to start making plastics as a small side business id really appreciate it. 

Thanks

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Molds- Lurecraft

Plastic- Baitjunkys

Colors and glitter- Lurecraft

Bags and oil- Baitjunkys

 

I would suggest practicing and practicing before trying to sell. Soft Plastic companies have popped all over in the last few years that it has become very hard to start. My Biggest suggestion would be to perfect your craft and get at least one or two custom made CNC molds that no other company is selling as a companion to the mass produced molds.

 

Also once you do start your business injection molds are easier to produce more baits faster than hand pour.

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11 hours ago, outdoorsman95 said:

I've been looking into making plastic baits to sell as a small side business.

Anyone starting a "business" needs two things: a lawyer and an accountant.  Both of these can answer your questions.

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J Francho told you what you need to do first!!!! You will need a Tax I.D. number for your business, this will let you buy a lot of your material from wholesale suppliers, they sell you the product without charging you FET (federal excise tax). The reason is because when you sell your baits, you will have to pay the FET tax on your baits. You will also have to check with your local ordinances about home based businesses and whether they allow small scale manufacturing, a lot of municipalities frown on such activity. Chance_Taker4 also brought up a good point of the learning curve and the amount of custom made baits available right now. It is a crowded market, in order to stand out you need to make something unique and your product quality has to be at a really high level and it takes time to get it right. There is a lot more to it than just heating plastic and shooting it in a mold, you'll need to develop recipes for your plastic formulation for color and consistency, you can get away with buying medium grade plastic but some baits you'll need to add softener for the bait to perform well, and nobody is going to give you all the information, somethings you'll have to learn on your own. I do not want to discourage you, I just think you should know that there is a legal side to making and selling soft plastic baits and there is learning/knowledge side that takes time to master, if it was simply putting the plastic in the mold and done there would be a lot more doing this. A lot of guys have gone into this blind and end up selling their stuff for a significant loss when they realize they don't have the amount of free time needed to really learn. Do the research and go to Tackle Underground, you will learn a lot there and when you feel like you're ready to take the plunge you'll be prepared rather than just winging it.

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