opening a gun shop

Discussion in 'Concealed Carrying & Personal Protection' started by shooter88, Nov 26, 2011.

  1. shooter88

    shooter88 New Member

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    I need info on what all I need as far as licenses and etc. To open up my own gunshop with indoor shooting range and everything I wanna b able to sell full auto weapons and etc.
     
  2. winds-of-change

    winds-of-change The Balota's Staff Member

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    Best advice I could give you is check into the laws and regulations of where you live. Consult a lawyer who is well versed in the business of guns.
     

  3. BillM

    BillM Active Member Supporter

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    And don't forget the best way to become a millionaire in the
    gunshop business:












    Start with two million.
     
  4. Hairtrigger

    Hairtrigger Member

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    Open one in NW OHIO!!!! Toledo has only one private owned shop on the west side. The other choices are Gander Mtn and Bass Pro. Definately a need here
     
  5. Axxe55

    Axxe55 The Apocalypse Is Coming.....

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    check with the BATF, find yourself a lawyer who can advise you and have lots of money to put into it. also if you can even possess fully automatic weapons where you live, your clientele for buying them will be very limited, as you can only sellthem or transfer them to someone with a license.
     
  6. shooter88

    shooter88 New Member

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    Well hairtrigger that would b kinda hard considering the fact I live it tx lol... to u other guys I've considered all this I just have to come up with the money... I really need to see if one of my buddy's wants to go in business together the shop would proly b in conroe or Houston more than likely
     
  7. shooter88

    shooter88 New Member

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    I don't know exactly what all licenses I need and exactly how to get them what they cost etc...anyone from tx?
     
  8. lonyaeger

    lonyaeger New Member

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    I think your first step would be to figure out if you have the money to start a business. Then, you need a business plan.

    Do you have either one of those?
     
  9. shooter88

    shooter88 New Member

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    Not yet this is a decision I just made lol but I'm serious I've considered it for a while I've just gotta talk to my loan officer lol
     
  10. JonM

    JonM Moderator

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    you need at LEAST 6 months of operating costs in a bank account before the doors even open. thats costs AFTER you have stocked your store. 85% of all business fail in the first year due simply to the lack of operating expense money, this includes payroll, rent, tax, advertising, utilities, insurance etc.

    ideally you want a year of operating expense money most businesses dont make any profit in the first year. one year of expense money typically allows 2 years of operating at a slight loss until you get the hang of it and name recognition occurs.

    the area that is almost always underfunded is advertising. if no one knows your business exists how are you going to make money.

    just my 2 primers worth.
     
  11. Txhillbilly

    Txhillbilly Active Member

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    There are several Class 3 firearms dealers in the Houston area that are well established.That might not be an arena to jump into down there.
    The Lawyer that did my NFA Trust is in Houston,and he's also a dealer in Class 3 weapons.He's had his business for quite a while,and is well known to the people that want those types of weapons.

    Opening up a gun shop is one thing,being a Class 3 dealer is another.There's a lot more involved with Class 3 stuff.
    Insurance rates will make you think twice on the indoor range also,call a local commercial insurance company for a quote,you'll be shocked at what the insurance will cost.Then,you will also have to deal with the EPA with the air quality issues,and all the local,state,and federal permits that will come with that issue.
     
  12. c3shooter

    c3shooter Administrator Staff Member

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    BEFORE you can get THE license from the BATFE- which is an 01 Dealer's Federal Firearms License, you will need to show them that you are in compliance with all State and local laws for running such as business. For a start, do you have a business license? Is the location of your shop zoned for business? Etc etc etc. You need to do some self educating there.

    Second, how will your business be organized? I would suggest incorporation, since a suit against YOU will take your house, car, and kid's college savings. Suit against the corporation can only get what the corporation has.

    3rd, what are your business skills? What do you know about bookkeeping? Cause I guarantee you are gonna need that come tax time (business makes profit, you pay taxes) How much markup do you need to make that profit?
    Some more self educating.

    4th, you may want to hold off on the Class III full auto. Besides paying for the Dealer's license, you will need to pay a fairly stiff Special Occupational Tax (SOT) as a machine Gun Dealer. You can sell one of two ways- Sales to Law Enforcement Agencies- which leaves you competing with the BIG Police Supply store in Dallas (or Houston or wherever) And you can sell to persons that have applied to the BATFE and been approved for transfer of a pre-1986 full auto. Seen the price on those? Measured in the thousands- lot of cash to have tied up in merchandise for a couple of years until THAT gun sells.

    I am going to suggest you find an established gun shop there in Texas, ask owner if you can buy him a cup of coffee and pick his brain- take COPIOUS notes, and spend some time READING on the BATFE website.
     
  13. shooter88

    shooter88 New Member

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    This is all very true thanks for your input
     
  14. Axxe55

    Axxe55 The Apocalypse Is Coming.....

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    shooter i'm from Texas, and lived in the Houston and Conroe areas years ago. that said, i really think you are going to have a very rough go of it it that area. way too much competition from the chain outfits. plus if you don't have a solid business plan and proposal to show all the information a loan officer is looking for, he will gladly show you the front door. with the economy the way it is, money is more tightly controlled and for someone to loan large amount of money to you to open a gunstore is a huge gamble. so to even get them to even listen and consider, you need a business plan and proposal, plan of operations, very good credit and some type of collateral to back it up. do you own your own home, and would you be willing to put it up as collateral to get the loan? these are things to think about.
     
  15. shooter88

    shooter88 New Member

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    Thanks you've opened my eyes alot now I know what I need to do and work on
     
  16. Axxe55

    Axxe55 The Apocalypse Is Coming.....

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    i am not trying to discourage you, but open your eyes to reality. there is more to it than just deciding one day, i want to open a gun store and sell guns. licenses, permits, taxes, insurance, legal fees, ect. ect. ect...

    you see where this is going? we're not saying you can't do it, just is not going to be easy. will you have other income coming in to help pay your personal bills? because you still need to eat too. or will this be your sole income?

    if you are truly serious about this, my suggestion might be to look at moving into a more rural location with a few acres of land, get a trailerhouse to live in, buy or build a small shop to work out of. don't know if that's possible or not, but zoning restrictions would be easier to work around and might be cheaper on taxes, insurance and expenses.
     
  17. shooter88

    shooter88 New Member

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    Thats very true...dont get me wrong i dont plan on this happening any time soon i just wanna work on it for the future just trying to make plans who knows it might happen one day or it might not
     
  18. shooter88

    shooter88 New Member

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    Im not one of these idiots that jump into something head first and loses everything i do have a smart side lol