Getting an FFL?

[Critch]

Is it worth getting an FFL to be able to ship interstate, etc?

If you have an FFL, do you have a business or can it be for personal or limited use?

What is the inital cost these days and how much per year?

I'm considering getting one now, and when I retire in 3 or 4 years I'll be able to start a modest gun shop; just don't know how feasible this is. I own my own building and I don't think financing will be a problem.

[skeet]

First I'll give ya the upside. It really isn't too hard to get a FFL. Background check..have to have approval from the county and/or municipality saying you can have a gun business. Business license...Cost is 300 bucks initially(unless they have changed the rules lately). They probably will NOT issue you a license for the reasons you state. They want you to have a store front and definite hours of operation(nights from 6-9 and weekends? will work). The profit comes from the little items that you sell....things that the marts don't sell....and the used firearms. It can be a fun endeavor. And an aggravating one at times. Day before the waterfowl and deer season I could hardly get the place closed before midnight. Now the downsides.

The profit margin is very slim(8-9% is a fair average figure)..you will have to compete with Wally World and K Mart. On the upside the profit margin on used firearms is much better and W and K don't take trades. Dealing with the BATF is not the easiest thing in the world to do. Remember...anything you happen to do that is wrong or a chargeable offence is considered a FELONY. That can even be inadequate record keeping. They even go so far as to try to entrap you with straw sales etc. You must separate your personal firearms from the business ones. You should really consider carrying business insurance. People sue for everything anymore. Or form a LLC so your liability is small. And still carry insurance. If you have had no formal gunsmith training..be assured..if you work on guns you'd better have insurance...cause you'll need it.

I did have a gun shop for a LOT of years and gave up my FFL when I had a few medical problems. I made a profit although sometimes not very much(I kept shooting the profit up). Even after giving up the FFL I continued in the business of reloading supplies ammo scopes shotgun repair etc. Where the most profit happened to be. Still do that part...even after moving to Wyoming. Good luck...but consider everything ya want to do at least twice..or even more!!

[Rocky Raab]

Let me add that the BATF also has the right to inspect you and your business at any time. And they do mean ANY time. If they find even one gun you haven't yet entered into your books, or a sale you haven't yet entered, they can confiscate your entire inventory - which you'll likely never see again even if they eventually drop charges.

Given all the downsides, I wouldn't have an FFL if they gave them away.