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Discussion Starter #1


I'd like to see what the PFF interest in Lost Key Bait and Tackle is. I've met Steve & agree with what I've read so far - that he is a great guy &has a nice store. I've contemplated buying the store & would like some real opinions. From what I can see, The store is stocked well, perhaps too well.

Question 1--Who wants the store to stay?

Q2--Will you continue supporting the store when prices go back tonormal retail? The storewide sale that started a while back doesn't leavemuch margin, so the new owner will have to go back to retail - which could easily be a little over Walmarts price.

Q3- With Gray's, Walmart & the other (Go Fish? I cant remember the name), Why choose Lost Key to shop?

Q4 - What needs to change? Hours? Live bait? (if live bait continues to be a problem, will you still shop there?)

Q5 - What products do you buy there? (and what do you want to see there?)

Feel free to be honest, it will help me and/or anyone else interested in buying the store.
 

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i have only heard great things about lost key. i do know that they do have a fat inventory. i can also say that every time i had been referred to them by a friend or anyone for that fact, has been because of price. that seems to be that stores nitch. with such a heavy inventory they need to turn that back in to cash, hence their constant sale. i own a small retail store myself and from knowing the way our retail margins continue to shrink. that business will never be a cash cow. that business may make enough money to pay a mom and pop to live on. people go in business for different reasons, some of us want to eventually be rich. others want something to do, which category do you fit in?

the financials should tell you all you need to know.
 

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The absence of live bait is why I never really bought anything there after my initial stop. The owner of the store was very nice and in my opinion devoted to fishing and was very informed about his gear and products he sold. He treated me as a guest in his store and even offered me advice on rigging for specific fishing. I have never actually been treated Badly at the big store often mentioned here, But I always feel like I better know EXACTLY what I need before I aproach a salesperson or I am Wasting there time.(even if they are not busy).

Not that I spend big bucks when I buy bait, but that is usually when I remember to restock up on hooks, lead and swivels that I always seem to be short.

I would surly use them in the future if the bait issue was different and there pricing was in line with other full service shops in this area.......................Good luck, whatever you decide................DENNIS
 

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I like the store and would shop there even if prices were a little higher. The prices are great right now, but I realize they must go back up for anyone to continue to run the business and make any money.

I like the selection of reels, but I do believe some of the rod selection should be upgraded.

I like the fact that the store is so stocked, or overstocked. I logged about an hour in there the other day.

I will say this though, The place should be open later. One of the things that bothers me about some tackle stores is the fact they close so early. Stay open til at least 7:00pm.

Just my 2 cents

Brad
 

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If the next owner runs the place like Steve does, as previously stated; treating each customer like a guest. Then I would continue to shop there, even if the prices were a little higher. Bait is also an issue. Having live bait will help a bunch.
 

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I really hate to see Steve go, but I certainly understand his motivations. Whoever does take over Lost Key needs to be sure to carry on with the tradition of excellent customer service. I for one try to support the locals out here on the southwest side and especially Perdido Key. Of course, I still go to Wally World at least once a week, but when it comes to some things, I would pay a little more to keep the local businessfolk operating.
 

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Shoppedthere a few tmes. Pretty good prices.Whoever buys it needs to think about getting some live bait. Just my 2 cents.

Scott
 

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parrothead (11/11/2007)Shoppedthere a few tmes. Pretty good prices.Whoever buys it needs to think about getting some live bait. Just my 2 cents.



Scott


Steve one time mentioned when I was in there that he was having problems finding a distributor/source for the live bait.
 

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Discussion Starter #11
Its a great store and it appears many will be sorry to see it go. Thank you to those who have given their thoughts & opinions. I remain undecided if its for me - this forum certainly helps the decision process.
 

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Haven't been fortunate to have stopped by while in town. But I'll tell you this, If the new owner has the same attitude about customer service as provided to my Dad...you bet I'll make it a point too.
 

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I have stopped in there a good many times, bought lots of jigs, rods, and a 80 wide. Frozen bait, geeze, I have bought just about everything there.

I will continue to buy from "local" business before I will buy from a "chain" that sends our money to other states or other countries.

I have kicked around as well, about buying and running something like this,

Jim
 

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Great, convenient location. I have bought 7 rod's there in the past 60 days. Have purchased other stuff too, lures, line, a reel, and Steve handled a rod repair for me. I'm not sure what the number's look like, but if you were thinking of doing something like this, it would be worth it to give a hard look. I would personally expand the hours, and look into suppliers for live bait. Steve has been a wonderful addition to our fishing community and he will be missed. IMHO, T
 

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Never been as it is not my side of town. I hear a lot that it's a great store from many people. About live bait- it is difficult to find a supplier. Most suppliers have prefered lists and they serve those first and give the new guys the leftovers. Kind of a seniority thing. Makes sense if you have a limited supply. I always thought that they should outsource live bait from local guys. I'd think there'd be plenty of takers for trading bait for tackle. A win-win, but a little bit of a headache. Be sure to keep up the customer service, I hear that Steve was always a steller gentleman. Also, understandably the prices are higher than the big lot type stores, but be competative. Maybe PFF discount?
 

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Live bait.

Location.

I will stop to buy bait, and would give my money to the local with great service any day. But, I will not drive out there to shop. I live in cantonment and work in town, it would be great if there were a place around nine-mile or in town, with that kind of selection and service. Somewhere you could go on a lunch break and kill a few bucks now and then and "Kill Time". Gas being what it is, if I'm not fishing or putting in near there, I'm not going that direction. Others have said that is a great location, but where are all the people at around there compared to other locations? That intersection seems dead. There is a ton of retail spots open in great locations around here. There's one next to me, HINT HINT. And for Gods sake put it somewhere close to something the ladies will like to do(hair/nails=2 hours)or my time will be short, and time is money, to you and me.

just my 0.02 worth.

2420 east olive road vacancy next to Nail/Hair salon and my work. :letsparty
 

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I have been in the store a couple of time, its clean neat and well organized. And the owner is a great guy.

For the past 40 years I have been in retail, one of the first questions that popped into my mind on my first visit was "how much money does he have tied up in inventory". I doubt that his suppliers give him 90 to 120 day billing. I would not consider buying his full inventory, have his supplier give you a list of past orders and see what turns. There is a profit clock always running, you don't make money until you sell the item.

I fish a good bit with live shrimp, as of my last visit he didn't carry live bait;I shop his competition (off of Lillian Hwy). She opens early, she had has good variety, but no really high end stuff that is going to tie up her dollars.

Finally, the location is on my way to my boat, however several times when I was looking for terminal tackle and gone by there he has been closed.

I think that there is a niche for a tackle only shop, however that location may not see the constant traffic that would support it, a "bait and tackle" would have a higherdegree of success, however you have a higher potential for shrink because your dealing with a live item.

Usually I charge for consulting, this one is a freebie.

Good luck on you decision.
 

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I really hate to see Steve go. I made the trip from Pace, quite often, just because he was so helpful. Prices are great, and customer service were unbelievable.
 

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for me the key is to maintain the courtesy and personal touch demonstrated by the current owner. I have bought rods, reels and general fishing tackle. It is convenient for me on the way to sherman cove. A similar owner , possible live bait would go long way for me to continue shopping there.
 
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