Opening Fly Shop - Possible

[Fatherof4]

Gentlemen....Honest feed back.  I love fly fishing saltwater.  I am self-employed, have been in business for 30 yrs.  I own the building my business  is in.  I live in Montgomery, AL.  I find myself, at 53, with some significant free time during each business day.  I have staff that work for me, they are well trained and do a great job.  So much so, that other than setting direction of my office, some ideas, and to put out fires that may arise, I sit here.

Now, at this stage of my life, I am not looking for a huge money maker, even breaking even for a while would be fine.  Just to do something I love, and make a business out of it.  Now, my office is close to the interstate (I65), maybe 10 min off the interstate.  It is in a good location, etc.  So, the initial idea, would be to sell some tackle, flies, accessories, maybe clothing, I'm kinda winging it with ideas..Sell both fresh and Salt water.  Being a fly guy myself, there is NO where around to get stuff.  Hence, I buy a lot on line..and others may as well...Kinda an "outfitter" type store....

So, thoughts? Criticism...all welcomed....Maybe have an online presence as well and see via an "on-line" store as well.

[knotthereelworld]

I'm a professional fly fishing guide and have been in the industry the past 11 years and have been fly fishing for 27 years so I've got some insider knowledge. I work with fly shops in Virginia and one in Aspen, Co. Here's my perspective..... I too debated opening a shop five years ago, and decided against it. I absolutely love fly shops and love going in them just looking at gear, fly tying materials and slingin the BS. The owners of the biggest fly shop in VA, Mossy Creek Fly Shop, advised me against opening one where I live in Richmond, VA, which is where they are from. Their shop is located in Shenandoah Valley two hours away. They told me, as the saying goes, want to make a million owning a fly shop? Just start with two million. It is HARD. You will need to carry a significant amount of gear, not just some. Working with companies like Simms, Fishpond, or any of the rod, gear or fly tying distributing companies, they are going to make you buy a certain amount of gear and if you don't move it, you'll be stuck with it till you sell it at a discount before the new inventory order must be made. You will need a strong online presence, particularly in a pandemic or the aftermath. You might also want to have a guide service or at least connection to some local guides. 

The fly shop I used to work for in Aspen is called Aspen Outfitting Company and has been around for 35 years or so. I talked to the owner this morning. It's an anomaly though as he lives in Aspen and his clientele are celebrities and billionaires. There's so much money there he has been able to sustain it through great service offering fly fishing and shooting trips to the high end clientele. Other fly shops in town have come and gone since I guided for them 10 years ago. He has A+ customer service and expects it from all of his guides as well and I think that has helped him survive and thrive.  

The best fly shop in the country (fighting words but I have been in a lot of them) is Fly South in Nashville. Their staff couldn't be nicer. None of the guys act like they are better than anyone, which can be common in the fly fishing world and I am guilty of myself. They carry more gear than anyone I've ever seen. The fly tying room they have is unbelievable, I go from 6 to midnight walking in there. Exceptional location in a very popular / hip town in a geographical area with lots of local fishing, plus exceptional customer service and the most gear I've ever seen is what drives their business, in my opinion. 

The Angling Company in Key West is a mainstay and super cool shop. Great owner and crucial location on Simonton Street in KW. Nothing in there is inexpensive. He sells flies for $20 each, I'm not kidding. I cannot imagine the overhead. He's been around for a decade and a half or so. Books lots of guide trips out of his shop. 

There are some success stories of fly shops that were started as Instagram accounts, grew to online stores and are now brick and mortar shops. Fly Fish Food which is somewhere out west, TaleTellers in Lynchburg, Virginia and 239 Flies in Naples, Florida are some examples. I am friends with the owner of TaleTellers and he makes it work by living in an apartment behind the shop with a wife and two kids. I've heard his stories of the equipment reps and how tough it can be at times, but like you, he is the only one in the area. Super nice guy and he provides top quality customer service and a solid gear and tying selection. 239 got his start on Instagram because he comes across as brash and ties very pretty flies. It grew and so far he seems to have been successful but I don't know the guy and his brash attitude is off putting at times. Fly Fish Food got their recognition by tying incredible flies on Instagram, started selling some materials and it just eventually got so big they could open a true shop. I've never had any communication with them so I don't know what their customer service is like. 

Lowcountry Fly Shop in Charleston, SC closed a few years back after 7 or 8 years in business. It was a solid shop. Charleston is a super fishy spot with a big outdoor culture and lots of fly fishermen with no other true fly shops around. The owner knew what he was doing but still couldn't keep it afloat from what I understand. Now he still guides some and works for Flymen Fishing Company.

South River Fly Shop is a small shop in Waynesboro, VA. I work closely with them and they have a great gear selection for their size. Tons of tying gear. What makes them unique is the South River trout stream is 100 yards from their door, in the middle of downtown. Another shop I work with is Albemarle Angler and his gear selection is nice, but it's mostly Orvis stuff. Not a lot of flies and not a lot of fly tying supplies compared to other shops. He offers private trout stream waters nearby and tons of international travel, which I think is how he makes it work. Orvis screwed him too, opening an Orvoid dog bed store half a mile away. Not sure why he is even tied to them at this point. 

Cape Lookout Fly Shop in Atlantic Beach NC is another anomaly, only because it is surviving when it shouldn't, IMO. It is in one of the fishiest spots on the planet with a huge fly fishing culture and the owner is a mainstay in the community and great guy. But his inventory is nearly always empty and he doesn't carry much anyways. He survives because he also guides and his ex wife runs the shop when he's out. When he's in the shop he is making offshore trolling plugs that he sells for $30+ each. I'm not bashing him, just calling it as a see it, and in fact I hope to work with him guiding his customer base trips this summer season. That shop has a lot of opportunity but it just isn't great without lots of stuff to buy and he doesn't carry a lot. He is incredibly knowledgeable and helpful to all that walk through the doors though and I send business his way whenever I can. 

If I were you, I'd go to one of the big shows, The Fly Fishing Show, that has hundreds of vendors and talk to some of those guys in there that have shops. There are six stops annually, Atlanta is the closest one to you. All are canceled for 2021 unfortunately. Get some background info and you will have a better idea. If you walk past tiers row and hear the loud guy with the Knot The Reel World sign, that's me.

Sounds like you have a lot going for you but again, it is a HARD business to make a living or even survive as a fly shop. Luckily, interest in fly fishing is at an all time high. However, even a few years ago, all of the fly fishing industry in the U.S. accounted for less than $1 billion, which was less than Snickers bars sold at gas stations that same year. It might have crested a billion by now though. No doubt it is growing. If you start a shop, do not do the Orvis endorsed. Just don't. 

My website is www.knotthereelworld.com and instagram is @knotthereelworld is you ever want to connect and talk more. I'm not on here too often. 

[knotthereelworld]

Tom, just realized you're the same guy who bought the flies from me off of here. My apologies! Hope you enjoyed them!

[Wanaflatsfish]

great read.....

I'm over here in FLL  and had not heard about 239 Naples.....I'm not a fly fisherman, but, my buddy Capt DonH does fly fish...and he's always looking for new ideas as he does tie his own flies.

 

dc

 

[SouthernWake]

As said above its hard to get off the ground and turn a profit but on the flip side nothing is worse than thinking "what if" in regards to chasing something you are passionate about and never did.

I would get as connected as possible with the local community and get a good gauge to see if it can support the business.

 

If looking to fill time with fly fishing look for volunteer teaching opportunities with outdoor organizations. Teach groups casting, tying, or go on local trips etc.

[Fatherof4]

Thanks for the fantastic response.  I have done some soul searching, and have decided against it.  I'm 53, have a successful business, that runs as well, if not better, when I'm not there, than when I am.  I love fly fishing, and it seemed fun, but, at this stage of my life, I value my free time and being able to drop at go at a moments notice, and pretty much go anywhere I want....

Thanks for all the advice and comments....and knottherealworld, we love the flies...just haven't had a chance to go much.  Our trip to Islamorada last Sept, we went, and after 2 days, Hurricane Sally hit, poured rain, she followed us the whole way home, and kicked the crap out of Orange Beach, AL/Pensacola...so haven't been a lot.  Gonna make up for it soon in the FL Panhandle...