selling fly's on "consignment"?

[DustinPedley 0]

I was approached by a fly shop to sell fly's on consignment. Anyone have experience doing this? I have always just wholesaled them for store credit.

 

Thanks

[Kirk Dietrich 0]

I did that for a time when I first got started and had no resume and the shop that did it was just testing the waters as saltwater flyfishing hadn't really caught on so they didn't know how saltwater flies would sell. After a year, no flies sold so I went east and west to Texas and Florida fly shops and couldn't hardly keep them supplied.

 

If they already carry flies and know your flies would sell they should just buy them outright or do like your other shops and offer store credit. If they don't, they could have money problems paying bills. I did store credit as you do but under the condition that the goods I purchased were at a considerable discount - most agreed and some even gave me their wholesale price.

 

Kirk

[mikechell 0]

If they are going to make you wait for your money, by selling on consignment ... then I would demand a higher price than you get with wholesale.

 

Wholesale ... they pay you, they make all the profit from the sale, and suffer the wait if they aren't "going like hot cakes".

 

Consignment ... they just take in the money, no risk of them not selling. You wait for the money, they just handle it. You should get a bigger cut of the retail price of the flies.

[BuzFly 0]

Been their and don't that as others above had stated. I never liked working for store credit because then he is getting my products for even less. I would do terms and demeaned a 20% increase in WS cost. Give them a 60 or 90 days when payment will be due in full. It will cost them a little more for your flies but if they want them they will take them. It costs you not to collect your money in 15-30 days. You still have bills to pay. Best of luck.

[Steeldrifter 0]

I wouldn't bother with consignment like that, especially on a small cost item like flies. If a shop can't afford to pay you wholesale up front for some flies then that shop most likely won't be in business very long anyway. Set a wholesale price for each pattern with a wholesale quantity and stick to it. Not worth doing consignment on small items.

[FlaFly 0]

I think this should be best addressed to the members who tie for a "living". I remember back when I had a band and spent lots of money on instruments, etc., hoping to get at least break even pay for performing, while lots of newcomers were willing to perform for free just to get the exposure. It is a real sore point among musicians. It's reassuring that Kirk said he could hardly keep the stores supplied. But in any business, there's going to be competition... it would just be better if it were fair competition (i.e., not undercutting the prices others have to charge to break even).

[Kirk Dietrich 0]

FlaFly, it was an interesting experience for me. I was in my early twenties and as I stated, I was willing to do the consignment thing just to get my foot in the door and get started. Then after I met this sales rep at a conclave, he told me the names of some stores in Texas and Florida. They wanted my flies so I sold them, then I had the problem all commercial tiers want - to many orders, not enough time so, I went up on my price per the sales rep suggestion; they still ordered! Went up in price again and they still ordered; finally got two people tying for me for a couple years until one got married and landed a career job and the other had a child. I didn't pursue workers after that - was turning into to much of a business and I had a day job...

I have a friend in a band, he has a day job and he just plays to cover costs of his equipment - always thought rock stars like yourself were millionaires!

 

Kirk

[Bryon Anderson 0]

I think this should be best addressed to the members who tie for a "living". I remember back when I had a band and spent lots of money on instruments, etc., hoping to get at least break even pay for performing, while lots of newcomers were willing to perform for free just to get the exposure. It is a real sore point among musicians. It's reassuring that Kirk said he could hardly keep the stores supplied. But in any business, there's going to be competition... it would just be better if it were fair competition (i.e., not undercutting the prices others have to charge to break even).

FlaFly,

 

Before I start, I will admit that I've never had my own business, and that I am therefore less well informed about the ins and outs of such an enterprise than someone who has, or does have their own business. I don't sell my flies, and I very rarely buy flies tied by others, so this issue doesn't really impact me directly so far as I'm aware. Still, I have considered selling a few flies in exchange for discounts/store credit or whatever at some point, if someone were to offer me the opportunity, so while I don't have a dog in this fight, as they say, I do have some curiosity. It is in that spirit--curiosity and a desire to learn more--that my question(s) here are meant. They are not meant to be provocative or confrontational. That being said...

 

It sounds like you're saying it would be better if people who are just looking to sell a few flies for a small addition to their income (be it in the form of cash, store credit or whatever), and who can therefore potentially afford to sell their flies for less than someone who is trying to earn a living from tying flies, should stay out of the business so as not to interfere with the earning potential of the full-time tier. Is that what you were saying or have I misunderstood?

 

Again - it doesn't really affect me one way or the other, so I'm not taking issue with anything that's been said by anyone in this thread. I just want to make sure I'm understanding what I've read.

 

Bryon

[WVUontheFLY 0]

I tie for consignment on musky flies at a local shop because it is really starting to take off here. Whenever he gets a customer who wants musky flies he lets me know and I will bring over a couple dozen at a time and when he needs more or a specific pattern he lets me know and I whip them up. I get a lot of materials for cheap and he doesn't have to take the time to tie or order them. He makes money just from having them in the store and has nothing invested.

[mikechell 0]

Whenever he gets a customer who wants musky flies he lets me know and I will bring over a couple dozen at a time and when he needs more or a specific pattern he lets me know and I whip them up.

Just a little confused. When I've sold furniture on consignment, I put it in the shop and IF it sold, I got my money.

What you are explaining, WV, is selling to order. I little different when you KNOW what you're tying is going to sell, because someone is waiting for it.

[FlaFly 0]

Hi Bryon... that's why I said the tyers should be the ones discussing this issue. I see one difference between what I was doing and selling flies .... and by the way I understand what Mike said about the difference between selling your flies to the shop vs. putting them in the shop and waiting till they sell. That seems to provide a competitive advantage to the professional supplier who sells to the shop. And all the flies are there in the shop, side-by-side with each other. The buyer doesn't know or care how they got there... all he cares about is (1) this fly is the one he wants and (2) the price is acceptable. I'm assuming the shop owner prices the consignment flies up to the same level as the supplier flies. If so, then the supplier is potentially getting more pay for his effort than the consignment seller.

When I was performing, each event (festival, fair, etc.) would have maybe a dozen time slots available to a dozen acts during the day. Since it was the festival manager who had to pay these acts, he would naturally opt for the freebies. The only exception was a few events that absolutely depended on the quality of those acts, and was willing to pay for the ones the festival attendees wanted. In most cases, those festivals were being run by fellow musicians.

[FlaFly 0]

One more thought... it's interesting that a lot of our good friends here on the FTF are selling their flies in shops, and many of the rest say they are tying their own to save money (in other words, to not have to buy them). Considering the investment most of us make in materials, it doesn't actually work. I'm reminded of the sign I saw in a business establishment: "This is a non-profit organization. It wasn't meant to be that way, it just is."

[Capt Bob LeMay 0]

I still consider myself a commercial tyer -but in the past year I've quit tying for shops and now only tie for individuals... I never ran into a shop that had the audacity to ask me to tie "on consignment". If I had -that's the last they'd have seen me, period. I always filled orders (and that was hard enough). We'd meet at whatever shop if it was within driving distance and carefully go over what they wanted then I'd produce it and be paid, either on delivery or by mail at the end of the month. Did I ever have to wait for payment - occasionally, but any shop that was slow to pay would eventually have to get another tyer... Once I had a history with any shop or individual they could order by phone and be certain that they'd be getting quality goods (and with master patterns on hand I could exactly replicate any previously delivered pattern -all the way down to exact dimensions and the exact same colors -even if they wanted something that I hadn't done for twenty years...).

 

In the last year or two I've run into "the wall" and can no longer sit down and tie for extended periods of time - and if you can't knock out a ten dozen order in reasonable time it's time to quit as far as I'm concerned. Maybe it's the fact that I'm also going long days on the water and so many of them that a booking cancellation is welcome this time of year....

 

I know it's tough to get started - but how anyone could tie flies in exchange for "store credit" is another mystery to me. Here you are sitting at the bench hour after hour and getting paid at wholesale then getting "paid" at retail? Doesn't make sense to me -not if you're doing quality work and filling orders promptly. If you're going to be tying for money you need to pay your excise tax (and I'll bet that most aren't paying excise at all....), get a business license, have a sales tax number, etc. You also ought to be buying just like any shop -at wholesale only....

[WVUontheFLY 0]

 

Just a little confused. When I've sold furniture on consignment, I put it in the shop and IF it sold, I got my money.

 

What you are explaining, WV, is selling to order. I little different when you KNOW what you're tying is going to sell, because someone is waiting for it.

 

Only a few flies out of the two dozen would sell initially then the rest will continue to stay there on consignment until they are gone. Then I will tie up another batch for the shop. Also I didn't get any money until the flies were sold, so definitely a consignment type of deal.

 

 

One more thought... it's interesting that a lot of our good friends here on the FTF are selling their flies in shops, and many of the rest say they are tying their own to save money (in other words, to not have to buy them). Considering the investment most of us make in materials, it doesn't actually work. I'm reminded of the sign I saw in a business establishment: "This is a non-profit organization. It wasn't meant to be that way, it just is."

 

This is true, everything I "profit" in my flies goes back into the hobby, whether in new tying supplies or fishing gear.

 

[mikechell 0]

I'd start posting pictures of my flies and a phone number for anyone who wants to order some ... outside the shop. Then, you'll get all the profits for going through all the risks.