TYPE OF BUSINESS: Niche Patented Fishing Products; Manufacturing/Distribution Business. This is Minnesota based business established in 1999 and is re-locatable to anywhere in the US. They specialize in the manufacturing and distribution of patented fishing products. The products are: Illuminating Fishing Lures; that work great for ice fishing, night time and cloudy day fishing as well as fishing in deep or murky waters: Rod Holder / Tip-Up; this is a duel function product. If you are going ice fishing make sure to check out some shelters for ice fishing. It can be used as a rod holder that prevents losing the rod due to a fish bite and the patented design allows this holder to be a “tip up” indicator as well: Ice Fishing Hole Warmer; this product prevents ice buildup due to the constant motion using an impeller that draws water from below and circulates it at the water surface. AA batteries operate the hole warmer and last up to 12 hours: and the extremely popular Laser Fishing Rod; this ice rod has illuminating optical fibers extending up the hollow interior of the pole with a laser beam at the tip. It is 26” in length and uses AAA batteries to illuminate the rod.
These products were sold in most of the reputable national retail sporting goods stores and wholesalers in the country. This business was sold back in 2007, but because the new owner failed to meet customer product demands, the licensing agreement was terminated in 2009. Seller has maintained his vendor # and has a great working relationship with these retail and wholesale clients.
All the manufacturing was outsourced to China and with all custom made tooling and molds in place, China is ready for production once again.
These products are perfect for an existing Sporting Goods business to expand or diversify or for someone that is passionate about the outdoors and has enough working capital to fund the large orders.
EMPLOYEES: Owner worked part-time to oversee marketing, maintaining clients, quality control, ordering product as well as other administrative tasks.
GROSS SALES/CASH FLOW: The reported gross sales from May of 2008 through Feb 2010 were approx. $290,000.
ASKING PRICE: The asking price for the business is $90,000 – LESS THAN ASSET VALUE. The asking price includes approximately $110,000 in Injection/Pour Molds, Patents & Patents Pending, Display Cutting Die, Uniformed Code Council/UPC Codes, Websites/Domain Names, Trade Show Banners and Hand Presses.
REASON FOR SALE: Focus on other invention projects (non-fishing related).
Important Notice: The above information has been provided by the Seller. Neither The 20/20 Group, Inc. (dba Opportunities In Business) nor its agents guarantee its accuracy or comprehensiveness. 7724 b.k.