Tradewinds Tackle Shop

From Mountains to the Beach

In 2023, Jackie and Jeremy Reynolds decided their family needed a change. They were living in a mountainous region of central Virginia, Jackie working as a nurse and Jeremy as an accountant who dabbled in house-flipping. They’d been vacationing on the Outer Banks for years and had finally ventured to the remote barrier island of Ocracoke, a close-knit community whose economy depended heavily on tourism and, of course, fishing. 

When they discovered that one of the island’s long- standing establishments, Tradewinds Tackle Shop, was up for sale, they jumped at the opportunity. They met with the owners, Alan and Melinda Sutton, to discuss the terms of the sale and officially moved their family to Ocracoke in early 2024. “It wasn’t an easy decision, but it was absolutely the right decision for us and for our family,” Jackie said.

Expert Assistance

The Reynolds hit their first roadblock during the loan application process. Before approving them for a loan, the SBA required the Reynolds to provide a business plan and financial projections. This requirement “was definitely one of the more intimidating aspects of the loan process,” Jackie said.  But the SBA directed the Reynolds to Matthew Byrne with the SBTDC, who walked them through the process, offering edits and advice. “He provided resources for us to read and familiarize ourselves with how to build that business plan,” Jeremy explained. “He had us do the work but held our hand through getting it organized and getting it on paper.”

In addition to assisting with their business plan, Byrne also offered them pre-built tools to model their revenue projections. “It was a lifesaver,” Jackie said. “It would have been incredibly stressful with everything else that was going on at that time.”

“It was a huge relief to know that we had someone with expertise telling us whether we were meeting objectives. It was tremendously helpful.”

Jackie Reynolds

Seasonal Challenges

As part of the purchase agreement, the Reynolds received hands-on training from the former owners for half of their first year running Tradewinds. However, they quickly discovered that a seasonal business in a remote location comes with a specific set of challenges. Tradewinds operates from mid-spring through peak fall, leaving a sizable off-season without regular income. “You have to reframe the way you’re thinking about your budget and orders and inventory in general,” Jackie said. They have to be cautious managing their cash flow, perishable inventory, and staffing, among other things.

But seasonality comes with an upside, too. A long off-season helps mitigate the burnout that comes with small business ownership, offering an opportunity for the Reynolds to rest, spend time with friends and family, and complete projects around the shop. “Now we’re here at the end of what was a busy, busy season, knowing we’re going to have some downtime to work on other projects with the business is a little bit energizing,” Jackie said.

The Years Ahead

Despite a challenging year, Tradewinds Tackle Shop is on track to begin meeting the goal they set with Matthew Byrne to grow by 10% each year. They’re adding an online sales channel, new product lines, and are increasing their social media marketing efforts. To improve efficiency, they’ve begun examining ways to reorganize their backstock, and they’ve built stronger relationships with their suppliers to improve product lead time and avoid supply chain disruptions. After their first season, Jeremy plans to review Tradewinds’ performance with their SBTDC counselor and compare it with their projections.

Contributing to the Community

During this first season, the Reynolds have focused on integrating into the community and understanding its dynamics. They participated in local fundraisers such as saving the area’s oldest fish house but mostly took a backseat in local gatherings to learn how they could best contribute. This year, Jeremy hopes to give a voice to the fishing community’s needs and to find more ways to offer support. “The community here is phenomenal,” Jackie said. “And our customers are just tremendous people. They are understanding, and generous, and thoughtful.”