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Posted: 10/12/2005 6:29:15 AM EDT
[Last Edit: 10/12/2005 6:34:35 AM EDT by thompsondd]
OK, I hate my job. It has been fun, has paid very well, and I have made many good friends over the past many years, but I am stressed out and burned out.

Yes, I am in IT.

So, I have been giving a lot of thought to this simple life thing, and actually working for myself as well as doing something that I enjoy.

So, if I had to do it over again, or more specifically, if I had a chance to start fresh, I would love to open a GOOD gun store (w/o any overweight ex-SF/SEAL types behind the counter).

From a high level, what is involved with opening a store aside from capital to purchase inventory?

What is involved with licenses, insurance, etc?

Pretend (that shouldn't be hard) that I know nothing about doing this.
Link Posted: 10/12/2005 6:32:05 AM EDT
Paging SteyrAug!
Link Posted: 10/12/2005 6:33:00 AM EDT
[Last Edit: 10/12/2005 6:33:43 AM EDT by Nightdriver]
Page Styeraug
He would answer your questions.

Do a search for true storie of the FFL
Link Posted: 10/12/2005 6:34:39 AM EDT
Link Posted: 10/12/2005 6:34:53 AM EDT
for a decent store 1millon
you can probably get by with 1/2 that
plaus another 100K or so for various expenses fot the fiest couple of years
margins suck
The internet and big stores like cabelas bass pro dicks scheels etc are making it hard for small stores
If you want to do it ya gotta find a niche
we do OK as the big stores won't touch miliatry type stuff
there are 2 stores in this area that specialize in that ( we are 1)
its enjoyable but if you want to make money with less of a cash outlay and much better margins consider about anything else
used car lot , some sort of francise (I used to work for hobbytown pretty good margins on that stuff and a basic small turn key store can be started for 300K)
Link Posted: 10/12/2005 6:35:32 AM EDT
Link Posted: 10/12/2005 6:35:38 AM EDT
Check with Forbes magazine and count the number of wealthy FFL's.

Stick with something that you know, if you're in IT, become feelance a consultant or start your own IT biz and make your employees do all the shit work while you fly around in the Corp. jet glad handing new clients and chasing chicky snax.
Link Posted: 10/12/2005 6:37:19 AM EDT
FWIW, you'll make tons more money & have greater margins selling Airsoft. SteyrAug will be along soon to confirm this.
Link Posted: 10/12/2005 6:44:25 AM EDT

Originally Posted By CS223:
Check with Forbes magazine and count the number of wealthy FFL's.

Stick with something that you know, if you're in IT, become feelance a consultant or start your own IT biz and make your employees do all the shit work while you fly around in the Corp. jet glad handing new clients and chasing chicky snax.



LOL... too funny.

A retail anything store is at the bottom of the business food chain in complexity.

When you work in IT, you become familiar with all aspects of the core fundamentals of an operating business through the integration and reporting of data and operations.

I am an IT guy, actively working in the IT industry. I started a software development company in 1995 when I was working full time as the CIO for a private mortgage insurance company.

Since then, I have successfully branched out into printing, publishing, and real estate.

Solid business fundamentals are portable.
Link Posted: 10/12/2005 6:55:24 AM EDT

Originally Posted By BenDover:

Originally Posted By CS223:
Check with Forbes magazine and count the number of wealthy FFL's.

Stick with something that you know, if you're in IT, become feelance a consultant or start your own IT biz and make your employees do all the shit work while you fly around in the Corp. jet glad handing new clients and chasing chicky snax.



LOL... too funny.

A retail anything store is at the bottom of the business food chain in complexity.

When you work in IT, you become familiar with all aspects of the core fundamentals of an operating business through the integration and reporting of data and operations.

I am an IT guy, actively working in the IT industry. I started a software development company in 1995 when I was working full time as the CIO for a private mortgage insurance company.

Since then, I have successfully branched out into printing, publishing, and real estate.

Solid business fundamentals are portable.



I wish I had been that smart..............................
Link Posted: 10/12/2005 7:08:31 AM EDT
The only small successful gun store I know of is only doing good because he also does furniture and home appliance rental. OBTW, that is one industry with HUGE margins. He makes a killing.
Link Posted: 10/12/2005 7:14:53 AM EDT
I'm starting to think Plan C needs some more work.
Link Posted: 10/12/2005 7:49:34 AM EDT
[Last Edit: 10/12/2005 7:57:32 AM EDT by BenDover]
The best advice that I can give is to not make a business out of something simply because it is already a fun hobby. You can end up burning out on what was an escape and enjoyment.

I am a margin-driven kind of guy. It's all friction in the middle, somthing you have to do to move cash to make cash. I sort of don't care if it's garbage collection or a hair salon.

I am not a big fan of retail unless you're supplementing it with other auction sales, etc... The retail sales should be paying for the facility itself, with the other activities being your real $$.
Link Posted: 10/12/2005 8:01:28 AM EDT
get the FFL, then do business on the side. like internet sales or fun shows (or both).
Link Posted: 10/12/2005 9:29:10 AM EDT

Originally Posted By donovan007007:
get the FFL, then do business on the side. like internet sales or fun shows (or both).



Link Posted: 10/12/2005 9:37:08 AM EDT

Originally Posted By thompsondd:

Originally Posted By donovan007007:
get the FFL, then do business on the side. like internet sales or fun shows (or both).






Just so you know... it is getting harder and harder to get an FFL without a brick and mortar storefront...

- AG
Link Posted: 10/12/2005 9:43:57 AM EDT

Originally Posted By BenDover:
The best advice that I can give is to not make a business out of something simply because it is already a fun hobby. You can end up burning out on what was an escape and enjoyment.





Very wise words to live by.

Link Posted: 10/12/2005 9:47:33 AM EDT

Originally Posted By Aggie_Gunner:

Originally Posted By thompsondd:

Originally Posted By donovan007007:
get the FFL, then do business on the side. like internet sales or fun shows (or both).






Just so you know... it is getting harder and harder to get an FFL without a brick and mortar storefront...

- AG



Harder yes but not impossible. I did it and do it part time.
The bottom line will be how your zoning laws are in the town you live in.
Link Posted: 10/12/2005 4:06:26 PM EDT

Originally Posted By TheTracker:

Originally Posted By Aggie_Gunner:

Originally Posted By thompsondd:

Originally Posted By donovan007007:
get the FFL, then do business on the side. like internet sales or fun shows (or both).



hinking.gif



Just so you know... it is getting harder and harder to get an FFL without a brick and mortar storefront...

- AG



Harder yes but not impossible. I did it and do it part time.
The bottom line will be how your zoning laws are in the town you live in.

How long ago was it when you got your FFL? Recently?
Link Posted: 10/12/2005 4:25:05 PM EDT
Aug man.
Link Posted: 10/12/2005 5:43:22 PM EDT

Originally Posted By thompsondd:
I'm starting to think Plan C needs some more work.



You don't even know the half of it. Walmart sells Ruger 10/22's below what dealers can buy them for, even the distributors make apologies but nothing they can do. Typical gun margin is %5-%10 max. Half the time the state makes more in sales tax than the dealer does on his margin. If guns stores were profitable, there would be chains of them everywhere. Fact of the matter is, gun stores make thier money on accessories, clothes etc.

Go with what you know, surely there is something in IT that you know that could be done better. What's the one part of IT that everone hates to do? Focus on it, many a new business & company was formed by someone willing to do the shit job and getting paid handsomely for it. Think about it.The key to being successful is doing what you know and doing it better than anyone else. Best thing about your situation is you're still employeed so you can experiment and still eat.
Link Posted: 10/13/2005 5:37:51 AM EDT

Originally Posted By NCCAT:

Originally Posted By TheTracker:

Originally Posted By Aggie_Gunner:

Originally Posted By thompsondd:

Originally Posted By donovan007007:
get the FFL, then do business on the side. like internet sales or fun shows (or both).






Just so you know... it is getting harder and harder to get an FFL without a brick and mortar storefront...

- AG



Harder yes but not impossible. I did it and do it part time.
The bottom line will be how your zoning laws are in the town you live in.

How long ago was it when you got your FFL? Recently?





In 2004
Link Posted: 10/13/2005 6:26:38 AM EDT
There is no money in it. You will lose money doing it. I know.
Link Posted: 10/13/2005 6:48:37 AM EDT
Go to other FFL stores in other areas that have been in business a long time and get lots of ideas. Probably can pick up a few good ideas from them all. One shop in my area has been in business a very long time and has at least two full time employees that I can see. One thing I believe that helps them a lots is a small indoor range, two lanes. When ever I'm there the lanes are always being used and they sell a lot of ammo to the shooters. Choose your location wisely. Good luch if you choose to follow through.
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