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Thread: FFL to save money?

  1. #11

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    Consider a Curio & Relic FFL.... Easy to get, cost's $30 for three years & is for enhancing your personal collection.

  2. #12
    Join Date
    Mar 2010
    Location
    Long Island, NY
    Posts
    3,746

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    Not to get too side-tracked, but what about buying an exisitng gun shop, how does the ATF handle that? I would imagine before going to closing on the business the new owner would have to already be a FFL holder.

    Medic, what state are you going to be residing in? Just curious because as a NYS resident I have considered the FFL route, being how restrictive it is to get just about any of 'really, really good toys'. As an Accountant I have to tell you, the business side needs to make sense, as in, must be profitable in order to be able to take deductions against it.

    Joe-NY

  3. #13
    Join Date
    Dec 2010
    Location
    UP Michigan
    Posts
    1,281

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    Not sure what state we will end up in. Hoping to go back west to be close to family. Colorado, Utah, Idaho, Washington, California are at the top of the list and in that order.

  4. #14
    Join Date
    Mar 2007
    Location
    Fort White , Fl
    Posts
    672

    Default

    Forget Commifornia

  5. #15
    Join Date
    Jul 2011
    Location
    USA
    Posts
    264

    Default

    Quote Originally Posted by Slojo View Post
    Not to get too side-tracked, but what about buying an exisitng gun shop, how does the ATF handle that? I would imagine before going to closing on the business the new owner would have to already be a FFL holder.

    Medic, what state are you going to be residing in? Just curious because as a NYS resident I have considered the FFL route, being how restrictive it is to get just about any of 'really, really good toys'. As an Accountant I have to tell you, the business side needs to make sense, as in, must be profitable in order to be able to take deductions against it.

    Joe-NY
    I bought a gun shop technically. Here's how it went down.

    We decided I would buy the assets of the gun shop, but I didn't buy the business. I would create my own corporation and just use their assets to start over. They turned in their FFL to the ATF and at the same time I submitted my application. I got the shop ready while I waited, and once the FFL came back I was ready for business. I manufacture ammunition also and I could build as many bullets as I wanted to when I didn't have my FFL but I just couldn't sell them until my 06 FFL came in.

    To Militant_Medic: If you go to California you will regret it for the rest of your life.
    If you value your Second Amendment rights, join the NRA today. www.nra.org

  6. #16

    Default BUT I can get it from Midway, Cabela's...I bet you heard that before!

    Quote Originally Posted by blackhorse26 View Post
    i keep printed copies of this for the people who drag shotgun news into my shop but it applies.

    Want to buy guns cheap here is what you do.

    1. Fill out forms to obtain a $100.00 occupational license that the batf will accept.
    2. Fill out a sales tax id request wait 30 days for the approval.
    3. Buy or rent a commercially zoned piece of property that meets the requirements of the batf.
    4. Obtain the proper forms from batf. .
    5. Fill out the batf send a $300.00 nonrefundable application fee and wait 60 to 90 days for the approval.
    6 sing a lease pay rent on the commercial property until you receive your license.
    7. Have your bank setup a letters of credit with a guarantee of $5000.00 which is the usual amount the distributors require for dealer pricing.
    8. Spend $50,000 in speculation money on inventory to open your doors.
    9. Hire help and pay their salary plus, workman's comp plus 7 1/2% social security and other benefits.
    10 pay phone, electric, advertising and insurance bills.
    11. Then you can listen to some horses ass tell you what he can buy it for in the shotgun news , on the internet , in a dealer flyer what a friend told you or what it cost last week at a gun show .
    Be asked to do transfers for $10.00.be responsible for the record keeping for life. Be told how much you should charge for services by someone who has no idea what is involved in being a licensed firearms dealer

    itís simple if you donít like the deals go somewhere else.
    :bdh::bdh:

  7. #17
    Join Date
    Jul 2008
    Location
    Wisconsin
    Posts
    1,358

    Default

    Quote Originally Posted by Militant_Medic View Post
    Sounds like I'm stuck being a "consumer". I have a full time job (actually takes more than full time) and it would be tough to start another one (gun dealer).

    Are the dealer discounts that significant? I have a friend in the car stereo business and wholesale prices are A LOT lower than retail prices. Does the gun business work the same way or are the margins less significant?

    And paramilusmc (semper fi- I have a brother in the corp- appreciate all you do)- I donít have 5000 right now (well I do but it is earmarked for a down payment on a house) but sacrifices will be made to make sure the gun budget is well protected. I've been overseas for 5 years and unable to buy anything more than an air rifle. I'm ready to get my hands on something that can go BOOM!
    As for the markup, it depends on the store. I have a gun store near me that has about a 10% markup. The only time I have them do transfers is when I am looking for something specific that they don't have in stock. There is not nearly enough mark-up on guns to make it worth your while.


    hick
    Those Who Sacrifice Liberty For Security Deserve Neither

  8. #18
    Join Date
    Apr 2008
    Location
    texas
    Posts
    42

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    Im a 01FFL and 03SOT here in Texas.

    I run the business from an office building next to my house. Im a home based 01/03. It is a great side business. Start off doing transfers and sales of popular guns to get the name out. then if the market in that area is worth diving into then look at opening a store. Most businesses go bust because they dont cater to the market they serve. I offer transfers lower than the 3 shops in town and still make nice profits. The margins on NEW firearms is next to nothing... because some internet places sell them at my cost or even below. I will gladly do a transfer than completely turn down a sell. Accessories and ammo is where profits are at. Class 3 items have LOTS of profit margin built in.....

    Find a service to offer the area and do that for several months or years. Then look at growing your business.
    RPARMS.com
    01FFL/03SOT

  9. #19
    Join Date
    Jun 2011
    Posts
    7

    Default

    Another one of the benefits of FFL is that you will be able to have the guns shipped straight to your home or your business.
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