if you have your FFL could you be kind enough to explain a few things to me. I am wanting to start off selling online and from my home and eventually buy my own store. I have been reading on a paid website called FFLkit.com but I am still a bit confused on a few things such as, a firearm storage certificate? finger print card? and acquisition & disposition (A&D) reports?
also just out of curiosity what is the general mark up cost on firearms if bought at wholesale?
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I dunno man. There’s plenty of guys in Minnesota who do this from their home. I say go for it.
Unless you have a physical store, open to the public 40hrs a week, with separate customer access/entrance if it is in your home – BATFE is not going to approve your FFL request.
In the last 10 years BATFE has put 15,000+ FFL dealers called ’10 percenter’s’ out of business. These were folks like you who would special order guns and add 10%. Mostly people who did it for a second income. BATFE went after these people because the liberal news media was claiming all the guns going to Mexico were being supplies by small FFL dealers. Totally wrong, but, – they went after everyone.
Unless you are making $50K in profit each year on firearm supplies and accessories – that means a toal gross sales of $278,000 in the last year – do not waste your time applying for a FFL. Even if by some fluke or accident you were to fall in the cracks and magically get it approved – you would have it revoked on the first inspection unless you had a totally outfitted storefront – and – the tax returns that showed the gross recipts and income.
Distributors have different mark-ups depending on your last years sales. Not an issue if you were the only gun shop in 100 miles. But if a shop across town is getting a 28% prefered customer distrubuter discount from the Ruger Distrubutor for your state – and you are not because you have no history with the distrubutor – there is no way you can be competitive……… unless you are offering gunsmith services like barrel threading for muzzle brakes, trigger jobs etc etc that your competitor across town isn’t doing.
Sorry to kill the dream. Places like fflkit.com and other make their money by charging $25-$100 for forms you could get for free from the government if you knew where to ask.
The day of the home based gun business have been over for nearly 2 decades. You have to have a physical place of business with proper security, the proper municipal and state licenses, insurance, inventory, and reg. store hours. Without meeting these basic requirements, forget it.
you don’t know what your talking about
the store front is a myth,you only need an address that allows small businesses. you could do all your business online without a walk in store as long as you do your business from that address. check it out. and I don’t think there is a minimum sales per year either. also there is know minimum of hours you have to be open per week either.
when ATF visits you they look at your books not to see if your store is properly stalked.