David, I don't think this is so true. If want this license to run a business outta the house, or something of that nature, then wouldn't zoning restrictions prohibit you from doing that?
http://www.atf.treas.gov/firearms/faq/faq2.htm
Of note are the following:
(A1) Does the law regulate who can be in the business?
Yes. The Gun Control Act (GCA), administered by the Bureau of Alcohol, Tobacco and Firearms (ATF) of the Department of the Treasury, contains Federal licensing standards for various firearms businesses (manufacturers, importers, and dealers). An example of these standards is that the applicant must have a business premises. [18 U. S. C. 923( d), 27 CFR 178.47]
(A2) Who can get a license?
ATF will approve the application if the applicant:
Is 21 years or more of age;
Is not prohibited from shipping, transporting, receiving or possessing firearms or ammunition;
Has not willfully violated the GCA or its regulations;
Has not willfully failed to disclose material information or willfully made false statements concerning material facts in connection with his application;
Has premises for conducting business or collecting; and,
The applicant certifies that--
(1) the business to be conducted under the license is not prohibited by state or local law in the place where the licensed premises is located;
(2) within 30 days after the application is approved the business will comply with the requirements of state and local law applicable to the conduct of the business;
(3) the business will not be conducted under the license until the requirements of state and local law applicable to the business have been met;
(4) the applicant has sent or delivered a form to the chief law enforcement officer where the premises is located notifying the officer that the applicant intends to apply for a license; and
(5) secure gun storage or safety devices will be available at any place in which firearms are sold under the license to persons who are not licensees (" secure gun storage or safety device" is defined in 18 U. S. C. 921( a)( 34)).
Again, a regular storefront (business premises)is necessary, which is different from a residential premises (source: SimCity).