Quote History Quoted:
How is sending you the proceeds from my cabin sale good for me??
The RP is also the major investor for the project.. hence the RP position he was given. (that lets him infleunce the shop.)
We have a population of less than 1500 people and 120 miles from any big town. (this was noted in some of my other posts)
We stock 12 guns total (on avg) and ammo. We have moved 97 guns since March including both transfer and sales total
This is not going to become a 'growing concern' in my opinion.
The RP gets his own license, he will finally (when I leave) have his lifelong dream of owning a 'gunshop'.
I will leave town with $17-20k and be happy that I jumped from PA/NJ and gave it a 'shot'.. just the wrong town.
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Giving me the proceeds was a bit of joke, related to the old adage "if you want to make $1,000,000 in the gun business, you better start with $2,000,000." It meant that quitting now and giving away $18,000 would be cheaper than investing that money back into the business and trying to cut bait 6 months from now.
Also, I said "going concern," not "growing concern." If you're not familiar with the basic business term "going concern," you don't need to be involved in running any kind of business, trust me.
Of the 97 guns that have passed through the shop in the last 6 months, how many have been transfers? What do you charge for a transfer? How many have been special orders, which you knew were sold before they were ordered? How many were guns you ordered for normal inventory, speculating that they'd sell? Of the guns currently in inventory, how long have they been there, on average? How long has the oldest one been there? Ninety-seven guns in 6 months is 16 guns a month, or about 4 a week, on average. Unless they're high-end guns, off of which you're making a killing, that's not very many. It'd be ok if you were doing it out of an extra room in your house as a way to make a few extra dollars and allow yourself the ability to get dealer pricing on toys. But, as an investment, it's ridiculously low, more so if you're making less than $100 per gun, on average. I can't imagine you're being profitable enough to pay expenses, earn a wage for yourself, and give your RP/investor a decent Return on Investment. (If you were, he wouldn't be looking to get a separate license to do the gunsmith work you refuse to do as a way to increase profitability.)
I remember kind of reading some of your prior posts. Barely. What little bit I remember was folks in the business telling you that your business model was flawed from Jump Street. I also remember you telling them that they didn't understand your situation, that you were going to be doing things differently, and that you'd be successful. Well, here it is six months later and you're already talking about abandoning a sinking ship as the guy who entrusted you with a bunch of his money tries to bail himself out of a mistake into which you navigated him. The fact is, if your friend/investor had a dream of owning a gun store, he should have gotten the FFL in the first place, and hired you to run it. Your entire process has been wonky since the beginning, but when people tell you that, you act as if they're the assholes. We're not the ones who've convinced some other dude to give us a bunch of money to open a business when we didn't have the first clue about how to run one. We're not the ones who've needed our investors to give us $5,500 to pay our personal debts while we try to eek out a living running a gun shop in a one-horse town in Nowheresville, Texas.