not to be nosy buuuut...

Discussion in 'NFA/Class 3 & FFL Discussion' started by Ross82, Feb 3, 2018.

  1. Ross82

    Ross82 Well-Known Member Supporter

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    How many people here have their FFL? Is it your primary source of income? Was it rough getting started? Not sure if this has already been asked.
     
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  2. locutus

    locutus Well-Known Member Supporter

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    Do you have a building in a good business location?

    Do you have AT LEAST $100,000 to invest in inventory?

    Do you have enough money left to live on, and pay your bills for 18-24 months until your business becomes profitable??

    Just something to think about.
     
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  3. 303tom

    303tom Well-Known Member

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    Nope just a C&R !..................
     
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  4. youngridge

    youngridge Active Member Supporter

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    A thread from cal guns or something like that I read awhile ago had some very good information written up on it by a few folk that started up from scratch. A lot more people chimed in after that. Was interesting for sure. I believe they were based in Commiefornia too which made it an even interesting read.
     
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  5. Ross82

    Ross82 Well-Known Member Supporter

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    Thanks for the heads up
     
  6. FFL01user

    FFL01user Active Member

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    My userid should give you a hint that yes, I'm an FFL. Since getting the FFL I've retired. It never was a primary source of income. It was, and still is, a small source of income that allows me to support local gun clubs and help friends with purchases / transfers. Relatively easy to get started depending on your local laws. Biggest is zoning if you have such laws. Other than that, the ATF will issue you a FFL if you "live in a van down by the river" if it meets your local requirements.
     
    Ross82 likes this.
  7. FFL01user

    FFL01user Active Member

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    What locutus said...
    Do NOT plan on making a ton of money. You will not make a living simply on getting a FFL. It is cutthroat. Online sales are dirt cheap, that's why transfers could be your main source of income. I deal with the major distributors. To get my customers the best price I look at two things: How much can I get it for from a distributor (then I have to charge sales tax) or how much can they buy it for online and have it sent to me for transfer (no sales tax on out of state purchases)? We do whatever is cheapest for the customer. Go home based if you can. Do things right and you can be in the business, show an income, pay sales taxes, and everyone's happy... Good luck!
     
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  8. Chainfire

    Chainfire Well-Known Member Supporter

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    It may be like the young man who inherited $500,000 dollars and wanted to be a farmer. His big question was how long he could farm before the 500K was gone.
     
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  9. Ross82

    Ross82 Well-Known Member Supporter

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    When my Dad is asked what he would do if he won the lottery..... "Farm till it's all gone"
     
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  10. SGWGunsmith

    SGWGunsmith Well-Known Member Supporter

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    The 1968 Gun Control Act changed my methodology drastically. Prior to that, a person did not need to have an FFL if they worked on another persons firearm and kept the firearm for a couple of days or so. Firearms were shipped through the mail, same as underwear from J C Penny.
    Starting in November of '68, all firearms that were kept over 24 hours were required to be recorded in a "bound" book for compliance transfers and an 01-class Federal Firearms License was required to legally operate. Even guns received for repair needed to be logged in and then out when the customer picked up his firearm.
    At that time, I was going through a toolmaker training program, so any and all of whatever over-time pay I made, and the meager profits that I received for doing gun repair & modifications, profits went back into the purchase of equipment and tooling. I did gun repair part time and on weekends until I reached 30 years and out, retirement age, which comes very quickly by the way, but by then, I had a fully equipped and functioning gun repair shop.
    With my shop as it is now, and with the customer base that I've built up over time, I really enjoy what I do and it's not like I MUST go into work everyday. Some days I just test firearms out back. :cool:
     
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  11. Missouribound

    Missouribound Well-Known Member

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    Ross.....what level are you going to be at? Home based, store front or full on business?
    I'm guessing you want an FFL but aren't sure of the investment. The ATF frowns on FFL holders who use the license to add to their collection.
    I too have though of doing it but as a home based business. Several communication with the ATF pretty much told me that it would be a slam dunk if my record was clean and it wasn't prohibited at my home. I went so far as to have the paperwork competed and ready to send. But after seeing that 2 of the local FFL's have gone out of business because of lack of sales I have decided against it. The big box stores sell guns, Bass Pro, Cabela's and Academy Sports can get you anything you want. I decided it just wasn't worth it.
    I"m not trying to sway your opinion or enthusiasm.....just sharing my story.
     
  12. Daoust_Nat

    Daoust_Nat Well-Known Member Supporter

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    Interesting those big box stores. Here in Central Florida we have Bass Pro, Academy and an empty building where Gander Mountain used to be. I would go to those stores to look at a gun, because those big stores had ample inventory. I never bought from them because my local store was cheaper, every time. Walmart was cheaper for ammo. All of the LGS were cheaper for accessories such as holsters.

    My local store worries more about online stores such as Buds, because they are cheaper. For the little bit of savings I would rather pay a little more and support my local store.