Economics Of Bass Fishing

In the world of Economics, if a company made a move that left itself poised to double its output in the next fiscal year, investors would be lined up for blocks waiting to buy stock in the rapidly growing business.

Michigan Bass Pro Art Ferguson III has just completed a major step towards doubling his output for the fiscal year of 2005.  If Art was a business, he could expect the value of his stock to double, if not triple on that kind of economic growth news.

In finishing in the top ten of the FLW Northern EverStart Series, Art has locked himself into a qualifying position for next year’s FLW Tour.   Ferguson , a BASS Tour pro for several seasons now is set to be twice as productive as he was last season.  

Does that mean he can catch twice as many bass?  No

Does that mean he can win twice as much money? Maybe, but that is not the productivity that I am talking about.  

Today’s bass fishing pro is a marketing tool.  If he is smart, he will in fact incorporate himself as a business and go about creating “impressions.” Impressions are the number of people who see him, wearing apparel, using equipment, speaking at sport shows or at bass clubs.  Because he fishes BASS, Art Ferguson can create several million impressions just by being photographed by the television camera boats at a BASS event.  If he gets into some magazines, that’s even more.  If he does a guest spot on a radio show or appears in a web site article, that’s even more.   Art even has his own web site, “Artoffishing.com”

Forward thinking companies seek to brand themselves with a successful angler, so that when we see or hear the angler, we automatically link them with a product or products.

Lets say that Art creates 25 million impressions during the course of the year fishing the BASS tour, remember he made the Classic this year and ESPN televised 11 hours live.  If Art now fishes the FLW tour and the BASS tour in 2005, we can safely say that he will double the number of impressions that he can create.  So, productivity for a bass angler?  Its all about how many people you can reach.

Now, in order to increase its productivity, any business needs to raise venture capital. You can’t double your productivity without the money to expand.  Art is no different.  A typical tournament will cost Art $3,500.00.  Entry fees, Tow vehicle gas, boat gas, food, hotel, and miscellaneous costs are expensive.  Now, figure that Art would do this about 6 times during a typical BASS tour season.  That works out to about $21,000.00 for the year.  In doubling his output, Art is going to have find the investors to help him raise the money to do a second tour. 

How much will Art need?  Well, that is entirely up to what Art thinks he is worth, but bare in mind that it will take Art about $50,000 just to participate in the tour events in 2005, and lets not forget that he should also receive a salary as well.  To help cover the normal living expenses like health, auto, boat and life insurance, not to mention things like a mortgage payment, companies should expect to help Art raise at least $100,000.

Outrageous you say?  $100,000 so a guy can go fishing?  Consider this, advertising on cable television goes for about $25,000 for thirty seconds, per commercial.   If you wanted to do an entire 13 week period, it probably runs you $125,000 to $150,000.  That’s one commercial per week for 13 weeks. Going to sponsor a major tour?  That will run close to one million dollars.  Now consider that today’s bass pros do radio interviews, web site interviews, sport shows, dealership appearances and lots and lots of hand shaking.  This is direct marketing.  These aren’t the spoiled professional athletes we have come to associate with other sports.  These are guys you could fish with as a non boater, and guys who could live on your block.   Sponsoring the right bass pro, is the best marketing investment a business could make.

When you look at it, catching little green fish is really the last thing professional bass fishing is all about.  Oh it may be our favorite thing, after all it’s the catching that we enjoy so much.  However for today’s tour pro, the far bigger picture involves proposals, speaking engagements, product endorsements, and creating public impressions.  Its about marketing not only to companies within the fishing industry that traditionally have limited resources, but companies outside the realm of fishing, that are looking for new audiences.   

Today’s bass pro carries a cell phone, a P.D.A., and  a lap top computer, equipped with a wireless L.A.N. ,.  All of this is in addition to their standard GPS , VHS and PFD.  Its what the profession has evolved into.  It’s the Economics of bass fishing.