I do like to buy from a LGS when and if they have what I want and I can walk out with it right there for a little above getting it online and having to wait. Product + Transfer + Shipping versus Product + Tax + Checking out the gun before an order is made.
I love the concept of helping out the mom & pop store of any kind when I can, but prices are higher in most cases at the mom & pop stores. Most of them are not getting rich, they are getting by. I also know how it feels on the business side of a mom & pop as an employee for one in a non-firearm related business. We have done internet sales for a few years and of course brick & mortar for decades.
For us, we priced internet products in line with other internet stores as basically a fishing net. Some sales we caught versus the other stores, but most times we didn't. The profit from internet sales for a mom & pop shop may not even cover the cost of paying for the internet store. Yet, it does keep your presence known.
The brick and mortar sales of course had higher prices. We had to spend more human face to face time to gain those sales and salaries or commissions have to be paid to the employees. Our face to face sales require knowledge and expertise on our part which requires a higher than "shipping clerk" pay check.
People that bought from our internet store already knew what they wanted out of their own research. One person from our brick & mortar that can wear a 2nd hat as the I.T. guy can do that job covered by his salary from the 1st hat he wears. Plus, we don't have to stock the item sold on the internet store. It ships directly from the manufacturer or distributor, so we don't have to hire an extra employee for internet sales.
Anyway, I can't speak for all the gun stores of other Mom & Pop shops, but just because the local store sells for more than a large online store like Bud's or Midway doesn't mean the local store is getting rich. Check out what they drive and how they dress. If you happen to know where they live, you would know what their home looks like. Chances are pretty good that they live about like the rest of us here at THR.