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By: Tim Kubetz. How WPB Co. Was Started. Started bait making as a hobby 6 years ago Founded Wildlands Precision Bait Co. with a three fold purpose 1. To become more skilled in the craft while teaching others 2. To gain insight and experience in running a business - PowerPoint PPT Presentation
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By: Tim Kubetz
Started bait making as a hobby 6 years ago
Founded Wildlands Precision Bait Co. with a three fold purpose
1. To become more skilled in the craft while teaching others 2. To gain insight and experience in running a business 3. To raise money to fund future projects at Wildlands
How WPB Co. Was Started
Tim Kubetz: Co-founder, Production Overseer and Painting and Finishing Technician
Dan Wiersgalla: Co-founder, Hardware installation and lure assembly
Alex Gajewsky: Lathe operator and Carving Technician
Project Participants
Necessary to see if business will be profitable
Contains three main sections
Creating a Business Plan
This section contains your purpose statement
1. The Cover Page
To raise money for our school by manufacturing and selling top quality, hand crafted fishing lures.
WPB Co. Purpose Statement
Outlines all the main facts about the business and how it will operate
Contains four parts: 1. Description of business 2. Marketing 3. Operating Procedure 4. Personnel
2. Business Overview
Tells you whether your business will profit or not
Includes: Capital spending list Breakeven analysis Profit projections
3. Financial Data
Starting Production
Organizing equipment and supplies
Started first baits on Oct. 12
Lures are produced in “assembly line” fashion
Initial batch was 34 lures. Finished on Jan 10.
WPB Co. Production facts
How we make ‘em
Shaping the blank
Drilling holes for hook hangers
Installing the hardware
Sealing the blank
Motorized Drying Wheel
Painting and finishing
Darth Vadar
The Finished Products
The POP-arrazi!!!
Available in four color patterns
Copy Cat:
Baby Bass:
Citrus Shad:
Feelin’ Froggy:
The Disco Dog
Available in three color patterns
Baby Bass:
Copy Cat:
Tablerock Shad:
The Tweeder
Available in three color patterns
Fire tiger:
Baby Bass:
Copy Cat:
Marketing and selling the product
In order to insure profit• Projected price of materials was $1.40 per bait• Labor is donated and thus no expense
Based on competitor prices• Cost of equivalent factory lures $5-18• Cost of hand crafted lures $10-50
All WPB Co. models cost $9 each
Determining a price point
1. To friends and acquaintances (face to face sales)
2. Tackle Stores
3. Swap meet at the WBFN Representatives meeting
Bringing the Baits to Market
Swap Meet Sales Results Sold 9 lures
Raised $87 to donate to the schools project fund
Streamline production work for more efficiency
Get our baits into tackle shops to sell
Continue with some of the current models but also experiment with other styles.
What’s next for WPB Co.
Imagine this: Your walking down the aisles at Bass Pro Shops, just drooling at all the lures and wishing you could by all of them. All of a sudden a familiar sight catches the eye. It’s a Wildlands Bait Co. logo.
WPB Co. has made the big time!
10 years later…