El Rojo
Member
Should I get my 01 FFL? Plus a few specific questions.
At our Friends of the NRA meeting tonight, I was talking to our Co-Chairman and he was saying he might flee to free-America (AKA move out of the PRK). Well back when I was single and had money, I had thought about getting my 01 FFL for a while. The only reason I probably didn't was because this guy already had his and sort of ran it in his off time out of his house. I liked the guy and didn't want to rain on his parade.
Well if he leaves, there is going to be a big hole in our little town for a FFL. I am seriously thinking of taking over if he leaves. Lets go over the possible benefits.
1. I get to deal guns! This is a no brainer. I can't think of a much better way to support the 2nd than being an honest gun dealer and getting guns to the people.
2. I get to have floor models! I would have to check on legalities and what not, but I would be able to have some things in this state that I can't have now. My first floor model is going to be a real AR-15 and some real AR mags. These of course would be for showing to my LEO clients.
3. Tax write offs. I am sure with some of your help and maybe the help of a good accountant, I can find plenty of tax write offs.
4. Extra income. He made it sound like sometimes he spent quite a bit of time doing this and he wasn't sure if it was worth the money. I also suspect he was holding back though and he secretly enjoyed the income. I could probably get most of his customer base out of this because his appeal is that he runs it out of his spare time and so he only charges a 10% mark up because his overhead is way low.
Cons:
1. The fees. The nice thing is I already have my COE with the PRK for my C&R FFL, so that is one license I don't have to pay for. And it appears that the initial $200 bucks with the BATFE isn't bad at all. I am sure a business license isn't too bad.
2. Zoning. I am not sure what my city is going to say about zoning. My friend stores all of the guns at his house in his safe, but his business address is his wife's little business. I would probably have to do the same thing and that might be problematic.
3. The Paperwork. The sad thing is, I don't mind paperwork too much. I am pretty darn good about being organized and efficient.
4. The time. It would take up some time, but I think I would actually enjoy that time spent.
The main thing is if I did this thing, I would have to be extremely disciplined. I couldn't spend money I didn't have and I would have to be very responsible with the way I conduct business. I think I could do it though. I simply don't order anything a client hasn't given me moeny for. The key to this operation is not to sell to people who don't know what they want, but to people who know what they want and want it cheaper than the local gun stores can give it to them. If I get a credit card account, the sky is the limit! I know Pay Pal is the devil, but they would be a very simple way to get started.
You know, even if he doesn't move, I might offer to take it off his hands anyway. This is exciting.
A few quick questions.
What are the BATFE's storage requirements prior to applying for a FFL? My biggest cost would be a gun safe. Can I apply for the license and get most everything done prior to getting a safe? Also, what are the requirements for a safe? I would love to have a big huge safe for my guns and my businesses guns, but reality might dictate that I start smaller and then eventually build up. In fact, my guns now are fairly secure without an actual gun safe, but I would want a safe for my business guns.
I will post more questions as I think of them.
At our Friends of the NRA meeting tonight, I was talking to our Co-Chairman and he was saying he might flee to free-America (AKA move out of the PRK). Well back when I was single and had money, I had thought about getting my 01 FFL for a while. The only reason I probably didn't was because this guy already had his and sort of ran it in his off time out of his house. I liked the guy and didn't want to rain on his parade.
Well if he leaves, there is going to be a big hole in our little town for a FFL. I am seriously thinking of taking over if he leaves. Lets go over the possible benefits.
1. I get to deal guns! This is a no brainer. I can't think of a much better way to support the 2nd than being an honest gun dealer and getting guns to the people.
2. I get to have floor models! I would have to check on legalities and what not, but I would be able to have some things in this state that I can't have now. My first floor model is going to be a real AR-15 and some real AR mags. These of course would be for showing to my LEO clients.
3. Tax write offs. I am sure with some of your help and maybe the help of a good accountant, I can find plenty of tax write offs.
4. Extra income. He made it sound like sometimes he spent quite a bit of time doing this and he wasn't sure if it was worth the money. I also suspect he was holding back though and he secretly enjoyed the income. I could probably get most of his customer base out of this because his appeal is that he runs it out of his spare time and so he only charges a 10% mark up because his overhead is way low.
Cons:
1. The fees. The nice thing is I already have my COE with the PRK for my C&R FFL, so that is one license I don't have to pay for. And it appears that the initial $200 bucks with the BATFE isn't bad at all. I am sure a business license isn't too bad.
2. Zoning. I am not sure what my city is going to say about zoning. My friend stores all of the guns at his house in his safe, but his business address is his wife's little business. I would probably have to do the same thing and that might be problematic.
3. The Paperwork. The sad thing is, I don't mind paperwork too much. I am pretty darn good about being organized and efficient.
4. The time. It would take up some time, but I think I would actually enjoy that time spent.
The main thing is if I did this thing, I would have to be extremely disciplined. I couldn't spend money I didn't have and I would have to be very responsible with the way I conduct business. I think I could do it though. I simply don't order anything a client hasn't given me moeny for. The key to this operation is not to sell to people who don't know what they want, but to people who know what they want and want it cheaper than the local gun stores can give it to them. If I get a credit card account, the sky is the limit! I know Pay Pal is the devil, but they would be a very simple way to get started.
You know, even if he doesn't move, I might offer to take it off his hands anyway. This is exciting.
A few quick questions.
What are the BATFE's storage requirements prior to applying for a FFL? My biggest cost would be a gun safe. Can I apply for the license and get most everything done prior to getting a safe? Also, what are the requirements for a safe? I would love to have a big huge safe for my guns and my businesses guns, but reality might dictate that I start smaller and then eventually build up. In fact, my guns now are fairly secure without an actual gun safe, but I would want a safe for my business guns.
I will post more questions as I think of them.
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