Business plan for new FFL

Discussion in 'NFA/Class 3 & FFL Discussion' started by gixxerallan, Mar 2, 2011.

  1. gixxerallan

    gixxerallan New Member

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    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?
     
    Last edited: Mar 2, 2011
  2. NGIB

    NGIB New Member

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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...
     

  3. Troy Michalik

    Troy Michalik Is it Friday yet? Supporter

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    He speaks the truth.

    You'll make most of your money working full time and taking all the tax deductions from owning a business:D:rolleyes:
     
  4. NGIB

    NGIB New Member

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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...