By: Tim Kubetz
description
Transcript of By: Tim Kubetz
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By: Tim Kubetz
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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
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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
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Necessary to see if business will be profitable
Contains three main sections
Creating a Business Plan
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This section contains your purpose statement
1. The Cover Page
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To raise money for our school by manufacturing and selling top quality, hand crafted fishing lures.
WPB Co. Purpose Statement
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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
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Tells you whether your business will profit or not
Includes: Capital spending list Breakeven analysis Profit projections
3. Financial Data
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Starting Production
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Organizing equipment and supplies
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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
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How we make ‘em
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Shaping the blank
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Drilling holes for hook hangers
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Installing the hardware
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Sealing the blank
Motorized Drying Wheel
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Painting and finishing
Darth Vadar
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The Finished Products
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The POP-arrazi!!!
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Available in four color patterns
Copy Cat:
Baby Bass:
Citrus Shad:
Feelin’ Froggy:
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The Disco Dog
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Available in three color patterns
Baby Bass:
Copy Cat:
Tablerock Shad:
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The Tweeder
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Available in three color patterns
Fire tiger:
Baby Bass:
Copy Cat:
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Marketing and selling the product
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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
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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
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Swap Meet Sales Results Sold 9 lures
Raised $87 to donate to the schools project fund
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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.
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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…