Dreams . . .
Firearm & Gun Forum - FireArmsTalk.com > General Firearms Forums > NFA/Class 3 & FFL Discussion > Dreams . . .

Reply
 
LinkBack Thread Tools Display Modes
Old 10-10-2013, 04:51 AM   #1
FTF_SUPPORTER.png
Feedback Score: 0 reviews
 
JW357's Avatar
 
Join Date: Apr 2013
Location: North Carolina
Posts: 6,716
Liked 3728 Times on 2285 Posts
Likes Given: 1224

Default Dreams . . .

Alright, so I have these big dreams to one day open a gun store. I have been thinking a lot about this lately. Firearms are my third biggest passion in my life (behind my family and country) and I believe I couldn't be happier in a job unless I get to work with and be around them all day. I have served my country honorably, and am still contracted until 2017 (maybe a year before that, depending on things). So I believe it might soon be time to move on.

Now, I will be stationed in San Diego soon, and I will likely ride out the rest of my term there. While there, I plan on getting my 01 FFL. I have done some preliminary research, not near enough yet, and have learned a lot of good things, especially from this very forum.

One thing I plan on doing until we are settled down in Texas (or wherever) after life in the Corps is building up my lines of credit with various distributors, essentially out of my house.

I have been thinking about it, and what I will try to do while in San Diego is set aside about $2000 for the sole purpose of building lines of credit. I will buy a couple easy to sell guns, such as Glock 19, on credit from some distributors who don't mind my not having a brick and mortar store. Within a week of receiving the firearms, I will use the $2k cash to pay off the credit. Then I can sell the guns at my leisure. When I have sold them all, I will use the money received (I plan on selling them for the same price I buy them for, plus the cost of shipping if applicable) from them to fund the next batch. I will keep doing this until we live wherever we plan on living after the Corps. Hopefully at such time I will have built up enough rapport and lines of credit with distributors that I won't have to worry too much about stocking inventory (when I have the brick and mortar store) using the business loan that I'll start out with.

I don't exactly have any specific questions, and I know there's a lot of good information and advice buried in this forum. I haven't had time to comb through it all yet. but I plan on it. Basically I'm posting to give you guys something to sit on the edge of your seat about over the next several years. I know you're all on pins and needles, just dying to know if it works out for me.

By the way, for what its worth, I have a tremendous amount of drive to make this happen. I won't allow myself to fail, and I believe that's the most important thing about running a small business. My brother has owned a car customization shop for 12 years, and I was just talking to him about this the other day. He believes the only reason his business has stayed open for the last 12 years, through two recessions, is because of his passion and drive.

Thanks for reading. Does anyone have any specific or general advice, related to being an FFL or to running a business?

Thanks.

__________________

Always have clean socks.


Last edited by JW357; 10-10-2013 at 04:15 PM.
JW357 is offline  
2
People Like This 
Reply With Quote

Join FirearmsTalk.com Today - It's Free!

Are you a firearms enthusiast? Then we hope you will join the community. You will gain access to post, create threads, private message, upload images, join groups and more.

Firearms Talk is owned and operated by fellow firearms enthusiasts. We strive to offer a non-commercial community to learn and share information.

Join FirearmsTalk.com Today! - Click Here


Old 10-10-2013, 03:55 PM   #2
FTF_SUPPORTER.png
Feedback Score: 0 reviews
 
AirCavBob's Avatar
 
Join Date: Aug 2013
Location: South Central Kansas
Posts: 22
Liked 12 Times on 7 Posts
Likes Given: 5

Default

Good luck JW357. I hope you do well and thank you for your service! Looking forward to the responses you receive. I’m kind in a similar boat but I do have a Brick and Mortar location already. I’m really interested in how a new FFL gets in with distributors and how the lines of credit with them gets established.

__________________

NRA Endowment Member
01 FFL Class III

AirCavBob is offline  
JW357 Likes This 
Reply With Quote
Old 10-10-2013, 04:16 PM   #3
FTF_SUPPORTER.png
Feedback Score: 0 reviews
 
JW357's Avatar
 
Join Date: Apr 2013
Location: North Carolina
Posts: 6,716
Liked 3728 Times on 2285 Posts
Likes Given: 1224

Default

Quote:
Originally Posted by AirCavBob View Post
Good luck JW357. I hope you do well and thank you for your service! Looking forward to the responses you receive. I’m kind in a similar boat but I do have a Brick and Mortar location already. I’m really interested in how a new FFL gets in with distributors and how the lines of credit with them gets established.
Thanks, Bob. Best of luck to you too.

So your store isn't a firearms store? Is that accurate?
__________________

Always have clean socks.

JW357 is offline  
 
Reply With Quote
Old 10-10-2013, 06:01 PM   #4
McCool@email.com
FTF_SUPPORTER.png
Feedback Score: 0 reviews
 
MisterMcCool's Avatar
 
Join Date: Feb 2013
Location: Bumfugg, Egypt
Posts: 8,965
Liked 7802 Times on 4229 Posts
Likes Given: 16496

Default

Are banks lending money to start a firearms store?

__________________

No offense and none taken (̿▀̿ ̿Ĺ̯̿̿▀̿ ̿)̄

MisterMcCool is offline  
 
Reply With Quote
Old 10-10-2013, 06:11 PM   #5
FTF_SUPPORTER.png
Feedback Score: 0 reviews
 
JW357's Avatar
 
Join Date: Apr 2013
Location: North Carolina
Posts: 6,716
Liked 3728 Times on 2285 Posts
Likes Given: 1224

Default

Quote:
Originally Posted by MisterMcCool View Post
Are banks lending money to start a firearms store?
Right now, at this point in time? I have no idea.

I don't know why they wouldn't, though, on principle. Its a business just like any other. Are you referring to the shutdown?
__________________

Always have clean socks.

JW357 is offline  
 
Reply With Quote
Old 10-10-2013, 06:16 PM   #6
McCool@email.com
FTF_SUPPORTER.png
Feedback Score: 0 reviews
 
MisterMcCool's Avatar
 
Join Date: Feb 2013
Location: Bumfugg, Egypt
Posts: 8,965
Liked 7802 Times on 4229 Posts
Likes Given: 16496

Default

No. Right after the Sandy Hook shooting, several financing companies committed to no further funding of firearms businesses.

__________________

No offense and none taken (̿▀̿ ̿Ĺ̯̿̿▀̿ ̿)̄

MisterMcCool is offline  
 
Reply With Quote
Old 10-10-2013, 06:26 PM   #7
Retired
FTF_SUPPORTER.png
Feedback Score: 0 reviews
 
danf_fl's Avatar
 
Join Date: Apr 2010
Location: LA (Lower Alabama),FL
Posts: 10,580
Liked 3112 Times on 1788 Posts
Likes Given: 1322

Default

Plan for dry times.

Pay attention to what is going on for seasons. Snowshoes are a hard sell in Florida.

If you deal in guns alone, that small pile of money will get smaller.

Polar bear firearms are rarely purchased in Florida, .270 ammo was found on the shelves at Walmart, but nothing else (except shotgun ammo).

__________________

Amendment II:
"A well regulated Militia, being necessary to the security of a free State, the right of the people to keep and bear Arms, shall not be infringed."

Life Member NRA
Life Member NAHC
Former President of the ECPT (Eifel Combat Pistol Team)

danf_fl is offline  
 
Reply With Quote
Old 10-10-2013, 06:34 PM   #8
FTF_SUPPORTER.png
Feedback Score: 0 reviews
 
JW357's Avatar
 
Join Date: Apr 2013
Location: North Carolina
Posts: 6,716
Liked 3728 Times on 2285 Posts
Likes Given: 1224

Default

Quote:
Originally Posted by MisterMcCool View Post
No. Right after the Sandy Hook shooting, several financing companies committed to no further funding of firearms businesses.
I see. I'm sure there are some out there that haven't fallen to the liberal trap.

That's pretty sickening to me, honestly. Cutting funding for an industry which had as much to do with Sandy Hook as the moon did, IMO.

Quote:
Originally Posted by danf_fl View Post
Plan for dry times.

Pay attention to what is going on for seasons. Snowshoes are a hard sell in Florida.

If you deal in guns alone, that small pile of money will get smaller.

Polar bear firearms are rarely purchased in Florida, .270 ammo was found on the shelves at Walmart, but nothing else (except shotgun ammo).
Thank you, good advice. It won't be strictly firearms. I will sell ammo, holsters, CCW classes, lights, lasers, and other such related items.

My idea for the store is for it to be strictly for defensive firearms and things related. For example, no hunting or competition guns. I know this will limit my market slightly but honestly that's what I know the best. And I feel like I would be able to sell it better.

Maybe in the future, when/if I expand, I'll venture into other areas of the firearms world.
__________________

Always have clean socks.

JW357 is offline  
 
Reply With Quote
Old 10-10-2013, 08:29 PM   #9
Retired
FTF_SUPPORTER.png
Feedback Score: 0 reviews
 
danf_fl's Avatar
 
Join Date: Apr 2010
Location: LA (Lower Alabama),FL
Posts: 10,580
Liked 3112 Times on 1788 Posts
Likes Given: 1322

Default

Check what the local police wear on their belts.
Also, keep an eye on EMT and firefighter equipment.

Depending on location, hunting or competition could be your best customer.

Check out the local chain sports stores. Customers will ask for things the chain stores do not carry (Tripp magazines, handcuffs, etc...)
Instant market.

__________________

Amendment II:
"A well regulated Militia, being necessary to the security of a free State, the right of the people to keep and bear Arms, shall not be infringed."

Life Member NRA
Life Member NAHC
Former President of the ECPT (Eifel Combat Pistol Team)

danf_fl is offline  
 
Reply With Quote
Old 10-11-2013, 06:58 AM   #10
FTF_SUPPORTER.png
Feedback Score: 0 reviews
 
JW357's Avatar
 
Join Date: Apr 2013
Location: North Carolina
Posts: 6,716
Liked 3728 Times on 2285 Posts
Likes Given: 1224

Default

Quote:
Originally Posted by danf_fl
Check what the local police wear on their belts. Also, keep an eye on EMT and firefighter equipment. Depending on location, hunting or competition could be your best customer. Check out the local chain sports stores. Customers will ask for things the chain stores do not carry (Tripp magazines, handcuffs, etc...) Instant market.
Thanks. Once again, good advice.
__________________

Always have clean socks.

JW357 is offline  
 
Reply With Quote
Reply

Thread Tools
Display Modes


Similar Threads
Thread Thread Starter Firearms Forum Replies Last Post
Dreams Shihan The Club House 13 02-05-2011 02:30 PM