Got My FFL...Kind of, Now I'm Exhausted!

Discussion in 'NFA/Class 3 & FFL Discussion' started by saputoarms, Jan 12, 2014.

  1. saputoarms

    saputoarms New Member

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    Well imagine this, I did a search for FFL's in my Zip Code and what do ya know? I'm Listed!!! Guess the Midwest snow buggered up the mail. Haven't received the certificate yet. Now I am exhausted, tax forms, pulling wholesalers info together, ordering forms from the ATF and FBI. Planning what I want to stock, financial stuff, etc, etc, etc. There was a time I used to love firearms. LOL I still do, I'm just venting. The whole apply for sales tax thing......damn near got the laptop thrown across the room!!!!
     
  2. JW357

    JW357 New Member

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  3. silverado113

    silverado113 New Member

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    Now the fun is just begining....good luck on the new venture. If you have any questions give me a holla, I've been an 01 holder for about 2 years now.
     
  4. saputoarms

    saputoarms New Member

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    I apprieciate that silver. ALOT. I will message you a checklist just for fun. I am pretty good on the computer (I build them) but for this venture I am using the old fashioned high scool wire bound notebook. Scraps, notes, lists, flowcharts. Oh my!!!
     
  5. c3shooter

    c3shooter Administrator Staff Member

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    Congratulations! Something to think about-

    Both Gunbroker and GunAuction (formerly Auction Arms) have a "find a FFL" function on their home page. Let's say that I am looking for an 01 FFL to ship or receive a firearm for me- I can go to their site, enter my zip code, and it will pull up the FFLs that REGISTERED there as being will to serve as a transfer agent.

    Keep prices reasonable, and while the person is in your place of business, you have a shot at selling them (a) ammo, (b) holster (c) sling) (d) cleaning gear (e) their NEXT gun.

    Think of it as free advertising.
     
  6. silverado113

    silverado113 New Member

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    No problem my 01 info rates are $80 a minute ;)
     
  7. saputoarms

    saputoarms New Member

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    Oh joy, 5 hours and paperwork, paperwork, paperwork!! My first application to a wholesaler was.....an EPIC FAIL!!! On the signed copy of FFL I faxed I forgot to write "copy" across it. So I scanned all pertinent licenses and used a photo program to type "COPY" across it. Wholesalers, NICS application, etc, etc, etc, all I am doing is typing!! Hey, why am I wasting my time telling you guys?? :rolleyes:
     
  8. JW357

    JW357 New Member

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    Because apparently you aren't typing enough?

    ;)

    Good luck to ya man!
     
  9. AR10

    AR10 New Member

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    It all seems great, until your first audit that lasts four hours, or four days. The agents can also trigger irs audits that go on for years.

    Don't go home at night with your bound book not up to the minute.

    For myself, it was an experience like owning a sailboat. The two greatest days of boating, are the day you buy a boat, and the day you sell it.

    I was never so happy as the day I ups ed my yellow sheets and bound book to the batf and retired.

    I now sometimes wish I were back in the business and could order guns direct, until I remember the agents that can and do come at anytime and make life very uncomfortable. I don't miss that part one bit.
     
  10. jpfiester

    jpfiester New Member

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    Looking forward to following this. Been considering getting my FFL and starting the research now. Good luck.
     
  11. saputoarms

    saputoarms New Member

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    It's been a while. I'm busy doing my day job, then I work from 5:30pm to 9:00 pm. I workout then hit the desk from 9:45 till 11pm. I am learning accounting, and setting up suppliers. I have 4 so far. A lot of emailing, faxing and phone calls. Then studying market trends prices, and comparing prices between suppliers. All in the name of buying low to sell as high as I can to be competitive. Oh have I told you I have yet to touch a firearm. I have three to look at. Guess this is why the gunsmiths don't get to their work. They have to run the front end as well. Well I hope you enjoyed this as you were smiling and laughing. It will get easier I am sure. Have a great day everyone. Oh, and have I added that I pray every night, sometimes twice a day? Helps to have HIM on your shoulder.
     
  12. roughneck266

    roughneck266 Lifetime Supporting Member Lifetime Supporter

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    Thats the best advice you could possibly get. I will add, do not try to compete with buds, grabagun, etc.. You cant. But they cant compete with the services you provide, and the fact that you can actually put a product physically in the hand of the prospective customer.
     
  13. John_Deer

    John_Deer New Member

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    Buds Gun Shop also has a list of prefered FFL's. Buds sells over 600 guns a day. Some of those guns will end up in your area. In this area a lot of gun shops are charging $75 for an FFL. That is ridiculous because many shops make more off ammo and accessories than a new gun. If a I have to pay a $75 FFL I will have to want something really bad to spend anymore money in that shop.
     
  14. Missouribound

    Missouribound Active Member

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    Great.......soooooo
    Where are you? Are you going to sell retail or just order for folks wanting to buy? Do you have a storefront or are you working from your residence?

    SHARE SOME FACTS, MAN!!

    (and best of luck to you)
     
  15. saputoarms

    saputoarms New Member

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    I work from home in Indiana. I started taking a Gunsmithing class with Penn Foster six months ago. I realized the only legal way to practice my trade would be to get an FFL. Then I figured the best way build capitol for supplies and such was to sell firearms. So I got my FFL now, and I have done everything but touch a firearm (today, don't laugh is first official on the books customer). Alot of typing and emailing, and faxing, and getting suppliers, and well, it's like buying a house or something like that. My fiance asked what its like. I told her, its like the Sims game you play, where you sit down and make decisions to plan how to best "grow up your sim" except I'm growing up my business. I can't imagine what facts one wants. Now given the fact that I sound like I am complaining, I'm not. I love the fact that on top of everything else, I am learned how to run an accounting program and set that up. I learned that a good ol pen and notebook is priceless, I learned that talking is important and sounding enthusiastic to people. I learned that praying alot does help. I learned how to design a logo, and that there is a whole science to logo making. So basically I learn more now each and every day then I did 6 months ago. I work full time during the day as a Ford Tech at a dealership (I overhaul transmissions) get home and work from 5:30 to 9:30 pm mon-fri and then work out till 9:45pm, open sat-sun 1pm-6pm. So I'm quite busy. And that let me tell you, ARE THE FACTS!
     
    Last edited: Jan 23, 2014
  16. Missouribound

    Missouribound Active Member

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    Yes, you are.
    I asked because I am throwing around the idea of getting my FFL as well. I'm in a rural area and the nearest is about 25 miles from here. When I was young, I had all of the energy that you did....I was full of piss and vinegar.
    Now, I"m retired so I don't have to balance my time as carefully as you. I had done the research with the BATF about working from home and they said it shouldn't be a problem....but still I haven't done it.
    Anyway, best of luck to you.
     
  17. saputoarms

    saputoarms New Member

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    Well thank you, and I say Go for it. At 45 I don't feel that young. Feel like I have so much to do and so little time. But I guess stop looking over your shoulder and look ahead and you will get to where you want to be.
     
  18. BLACOPS

    BLACOPS New Member

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    I am mailing my FFL application off tomorrow. Got my fingerprint card done today and my 2x2 photo's. Tomorrow I write the check and drop in the mail. I think a lot of prayer is in my future as well. I look forward to seeing updates on you progress as I like to learn from others.
     
  19. saputoarms

    saputoarms New Member

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    Good luck, and about the only thing I can teach you right now is the praying part, since I have a ton to learn. But I can say I have a good diverse local and national supplier list. My local will supply me with Fiocchi ammo since I like them and its an Italian thing I guess. The Fiocchi rep is from the town I live in (small world after all) and he hooked me up with what he thought were the 3 best in Indiana. So we shall see. I am not afraid to ask questions, I don't care if I look dumb doing so. If it serves my customer well then I don't care.
     
  20. saputoarms

    saputoarms New Member

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    Update: sold 3 handguns, did two repairs, (small easy jobs, I will NEVER bite off more than I can chew). AHHH the accounting!!! Took in inventory, here is a question for the guys with experience. I took in 5 mosins. My dealer has them listed on the reciept as curios and relics. Did I screw up by entering them in my A+D book? Do YOU GUYS open each box whether new of not and verify your serial numbers on each firearm then enter immediately? Just wondering if I am overkilling my inventory check in procedure.