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Starting a business

RWeaver322
If I want to get into dealing firearms, what all do I need? I know I will need to apply and get a FFL. Is there more I will need to get?
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10 comments

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  • tsr1965
    RWeaver322,

    Hello, and welcome to the forums here on Gunbroker.

    When you get your FFL application, they will give you a grocery list of requirements that have to be met. It is a good thing to establish a good working relationship with your area BATFE representative/agent. Things will go a lot smoother if you have a robust tracking system in place during an audit...especially if you are planning on carrying an inventory.

    After that, you will want to have some insurance in place, as there are a lot of litigation happy people out there, like relatives of customers, and DA's.

    From there if you are planning on doing ANY work, including especially scope mounting, and cleaning of firearms, I suggest formal training. There is a lot more to it than putting pieces together like a jigsaw puzzle when mounting a scope. Chances are greater than not, if you don't, and you just fasten the base and rings on the firearm and tighten the scope down, you are either going to do it incorrectly where you will damage the scope, or have the scope out of alignment with the bore.

    These are but a few things to be aware of, and to get started with. Good luck with your venture.

    Best
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  • MFI
    Wasting your time .. Iv been in the business for 20 years trust me .. Too much bullc*** and not enough profit to be made..
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  • nmyers
    Near the top of the forum page is a link to "SEARCH"; you might want to go there & search for the word "FFL". We have answered this question more than once, & that way you can easily read past discussions.

    But, after you do that, I suspect that you will find that MFI is correct. Look at the ads in your Sunday newspaper & you will likely find that the Big Box Stores are selling their most popular guns for less than your local gun store can buy them from their distributor. Sure, there are some successful dealers out there, but most of them started when there were fewer regulations & less financial pressure, & they have a large base of satisfied customers; someone new to the business has the odds stacked against him.

    Neal

    EDIT: It's certainly possible to ease your way into the business at low cost; some fellas start by becoming a Gunbroker transfer dealer. You don't have to set up in a shop. But, you do have to find out the zoning & business requirements in your development, city, county & state. Only YOU can do the homework & find out what those requirements are; no one else can do it for you. If you find it too difficult, then consider it a sign.
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  • 11b6r
    Besides the minimum legalities to satisfy authorities, if you are looking to open a business, would be VERY prudent to set it up as a corporation. IF you should be sued by customer, family of customer, Mayor of NYC, etc, they have to sue the corporation, not you personally. And they can only get the assets of the corporation, not your house, car, wrisWar on Terrorch, etc. Fairly cheap to do and a smart move.
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  • Mossbergboogie
    If you open a store you might want to check some of the zoning requirments as well. I don't know if there are such things, but most cities and municipalities may regualte buisnesses by zoning.
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  • beantownshootah
    quote:Originally posted by 11b6r
    Besides the minimum legalities to satisfy authorities, if you are looking to open a business, would be VERY prudent to set it up as a corporation. IF you should be sued by customer, family of customer, Mayor of NYC, etc, they have to sue the corporation, not you personally. And they can only get the assets of the corporation, not your house, car, wrisWar on Terrorch, etc. Fairly cheap to do and a smart move.


    Not to split hairs, but you probably want an LLC, not a regular corporation (which generally requires a board of directors, annual meetings, etc).

    Personally, before I did any of this, I'd do some kind of rudimentary market analysis just to see what kind of business niche there already is.

    Maybe your area needs another FFL. . .maybe it doesn't. Maybe there are already too many, etc.
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  • duckhunter
    Get your wife/girlfriend a good paying job. Sure helps if you do not need any of the money, if any, out of the business.
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  • gregoryhart1
    quote:Originally posted by MFI
    Wasting your time .. Iv been in the business for 20 years trust me .. Too much bullc*** and not enough profit to be made..


    Then why are you still in business, is it kind of like a hobby for you?
    GH1[:)]
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  • tsr1965
    quote:Originally posted by chrishiher
    If you open a store you might want to check some of the zoning requirments as well. I don't know if there are such things, but most cities and municipalities may regualte buisnesses by zoning.


    That is part of the BATFE screening process...they do make sure you have the proper permits by the local zoning before you are issued a license.
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  • 32 Magnum
    In most states, you will need to get a STATE license to sell firearms, local business license, State sales tax registration, State and Federal Tax ID numbers, tax exemption certifications. If you plan to have a store front, you will also need: occupancy permits (to make sure your business' physical structure meets local, state and Federal codes with respect to ADA, electrical, structural and safety regulations), parking lot and easement permits, business entrance to state and/or local roadway evaluations and permits, in some cases runoff/storm water collection permits, business telephone service, lines of credit and business accounts with local banks, contacts with wholesalers, distributors, manufacturers, plenty of business UMBRELLA type insurance. Establish FRIENDLY relationships with several to a few established gunshop owners in the region - this helps set you up and as you provide referrals, so will you receive referrals. etc. etc. This is a list I compiled here in PA when I was considering opening a shop - decided it wasn't worth it, now work for an established shop, part-time - safisfies my need to talk/learn about, sell and purchase firearms, meet some very knowledgable people (as well as some real a-holes) without all the liabilities, head aches, frustration, legal bullshyte, etc.
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