Pros and Cons of an FFL

[Twobrothersbusa]

So we did some black Friday looking around after thanksgiving and ended up in a gun store. (I know, who would have figured) The business was family owned and I thought how cool it would be to have a family business like that. Anyway, I did some thinking about it and started looking into what it would take to get started. Did some research on the FFL requirements and it kind of opened my eyes a bit.

With that said, any FFLs on here care to share any words of wisdom?

 

[voodoolord]

Cons, ATF can audit your firearms at their whim and call without a warrant and that includes your home if you store any of your firearms there. In my opinion unless your making a good amount of money with your sales it is not worth the intrusion, or the red tape, or the regulation or..............you get the point.

 

[Twobrothersbusa]

My understanding is that they can only audit your place of business, records, and business inventory. Wouldn't apply to my personal firearms.

That might be incorrect, but is my understanding.

Cons, ATF can audit your firearms at their whim and call without a warrant and that includes your home if you store any of your firearms there. In my opinion unless your making a good amount of money with your sales it is not worth the intrusion, or the red tape, or the regulation or..............you get the point.

 

[voodoolord]

So do you want to have all of your NFA weapons and suppressors registered to the company? Thats one way to go and its much easier having NFA cans and full auto lowers going through the corporation. The issue is I you dont own any of them the Corp does. Im not a lawyer but I remember when I looked into that side of it I decided it was more work than I was willing to put in it. You need to talk to a NFA lawyer.

 

[Taylor]

I know of 2 people that sell guns for a living, both from friends of friends.

1 every gun owner here would know in a heartbeat if I said his name, the other is a regular guy that started a gun shop in his garage.

Both have more money then they know what to do with, but both seem stressed out to the max and paperwork to the hills.

Cons-
Long hours with tons of paperwork, insurance crap, state and government always seem to be working against them.

Pros-
The 1st guy has a car collection to rival jay leno's ,that's not a exaggeration

The other guys small shop also makes great money, has no debt and plenty of toys and vacations


I guess it depends on how big you wanna go and how much time/effort you put forth.

 

[skydivr]

There's money to be made with it Charlie, but it takes a lot of attention to detail.

 

[voodoolord]

Ya the liability issues are huge.