Business plan for new FFL
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Old 03-02-2011, 06:44 PM   #1
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Default Business plan for new FFL

I'm wanting to get my FFL to sell part time out of my home. I'm still in the process of putting together my business plan and was hoping I could tap into the wisdom I see on this forum. I live in TX and have gathered data on the following:

1. FFL requirements and fees
2. Local zoning and state requirements for the business
3. Incorporation (LLC)
4. Business liability ins
5. Security

Where I'm stumped is, as I do more research I'm not seeing how anyone could make money doing this. I've researched gun prices on gunbroker and gunsamerica and compared those prices to what SEEM to be wholesale prices. It looks like dealers are getting around $10 profit on many long gun sales.

I'm not under the idea that I could get rich doing this. Not by any means. My hope was to make $10k-$20k per year. Is this unreasonable?

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Old 03-02-2011, 08:17 PM   #2
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Quote:
Originally Posted by gixxerallan View Post
I'm wanting to get my FFL to sell part time out of my home. I'm still in the process of putting together my business plan and was hoping I could tap into the wisdom I see on this forum. I live in TX and have gathered data on the following:

1. FFL requirements and fees
2. Local zoning and state requirements for the business
3. Incorporation (LLC)
4. Business liability ins
5. Security

Where I'm stumped is, as I do more research I'm not seeing how anyone could make money doing this. I've researched gun prices on gunbroker and gunsamerica and compared those prices to what SEEM to be wholesale prices. It looks like dealers are getting around $10 profit on many long gun sales.

I'm not under the idea that I could get rich doing this. Not by any means. My hope was to make $10k-$20k per year. Is this unreasonable?
The margin on gun sales is extremely slim. You can't expect to make much profit per gun as you have to price compete with places like Bud's. There's a few bucks to be made doing things like FFL transfers and such...
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Old 03-02-2011, 09:04 PM   #3
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The margin on gun sales is extremely slim. You can't expect to make much profit per gun as you have to price compete with places like Bud's. There's a few bucks to be made doing things like FFL transfers and such...
He speaks the truth.

You'll make most of your money working full time and taking all the tax deductions from owning a business
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Old 03-02-2011, 09:17 PM   #4
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The reason the wife & I became "slum lords", it's one of the few business ventures that has a fairly decent return on investment - if you don't pay to much for the property. We manage our properties from our home and don't need a storefront or any special licensing. It does however take a chunk of cash to get started...

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