Any of you guys serious about opening a small gunstore

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gym

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I would love to open a small gunstore with a low overhead in the outskirts of Vero or Ft pierce/pt st lucie. Nothing big just a solid little customer comes first shoppe. I bring my experience of 45 years in business, "no failures", a good knoledge of pistols and the gift of being able t make a "dead horse speak", I need somone who is like minded, not greedy and willing to put the time in to establish a business that caters to the customer. You can reach me through the normal means here. I have had a fe gents who expressed intrest in opening a store when I was contemplating buying going in to an eshisting business.
Lets have a cup of coffee and see what happens. You will find me an interesing guy with an honest soul. More than that I can't promise, I an just feeling that it's time to do this and I see what's out there and I know I can do it better. Just nee a like minded partner wo feels the same way
 
I owned a brick and mortar shop for close to 20 years. I knew before opening the doors I would have to live out of my pocket for a year to 18 month before taking much out of the store for personal pay would be possible and I was right. Just something to bear in mind.
 
I would jump at the chance...I have enough knowledge of firearms to put most of my friends to sleep. Problem is I'm pretty positive I'm nowhere near you, and my ability to invest in anything is nonexistent at the moment.

I wish you the best, nonetheless.
 
I'm just north of Orlando and have some pretty decent knowledge on firearms, But I know nothing of business.
 
I do not see how one could provide a living for a couple or family. However, a few seem to get by if there is no major competition in the area.
Jerry
 
If you really don't need it for income, especially for a while, it is doable. We have a few up the road here, but most are inhabited by folks who do not know much, or only seem to cater to the junk stuff you see at gun shows.

I wouldn't mind going to Vero and seeing Hal DuPont's place though....... :D
 
Hard to make money running a gun store unless you have high volume of sales. The chain stores will be able to sell popular models like the Remington 870 and Ruger 10/22 for less than you can get them wholesale. To make money you need to focus on things they don't sell like ARs, AKs, and handguns. Also the profit margins on used guns and accessories like holsters is much higher than new guns.
 
Well if anyone is interested we could have a cup of cofee and talk about it, pm me if you think you may have an interest. I don't need to make money off it for a while, but eventually it would be nice. If we could pay the bills and grow slow it just could work. My theory is to just cover the rent with the guns, then add services, like instruction and accesories and things like duracoating. A little at a time, getting the nra certifications and being able to do the licensing and training classes as it all goes together. A lot of people want to learn to shoot that I talk to, but can't take weeks or even weekend trips to do it. 1&2 day courses with the use of a nearby range , may be a big selling point.
There are 2 stores that did this similar style between a year and a year and a half ago, both started out with 6-10 guns, I'm not making this up. Now they have expanded into much larger volume operations. Keeping low overhead and adding services that cater to the younger tactical crowd, and old timers who want to get the best price. One guy does all the shows now, I bought a gun from him when he worked out of a bay, i think he was paying a few hundred a month rent. Now he's a dealer for several high end names. Also supressors and class 3 stuff. Guys wrere driving up from miami to save $25-50 dollars on a gun.I know his philosopy was to sell a few guns at first, mybe making 50 dollars a gun, That was more than paying his bills, 1 phone line and a desk with a few safes. now he's a sig and kimber dealer amoung the glocks and a couple shotguns and AR, type weapons. It turned out ok for him in a year, so I know that it can be done,My wife had gone with me, and commented, he dosen't have much of a personality, but I bet you he is going to make money, the other one did it very similar, but he also started adding services, training ccw licenses, he also grew out of his little place and now is doing quite well. We only had the Fudds up here until then, guys who didn't want to carry this or that only what they liked. I spome to one recentlly, but he even told me, I'll get it for you but I don't like that stuff. No blk rifles or glocks in the store. Just his taste, more revolvers and he did have rugers, but that was it. To me carry what sells, I don't have to love it to sell it. I wouldn't sell junk but if people want something and you refuse to carry it because you don't like tacticle "black rifles ak's Glocks, M&P's " well to me why be in business. The future is training and education also. They want to buy a shotgun but don't know which one to get or what to do with it. The days of the clerk saying, "this baby is what you need, just point it and pull the trigger" are gone. Folks want more knowledge before they committ. You need a web presense a strong relationship with the forums and updating your stock and specials, so folks know you have what they want. Waiting to be found will put you out of business. The stores that are dying in my area, just don't advertise, they don't go on the shooting forums, no website, your supposed to somehow find them. those days are over. you can have a bay and a phone and a cable modem and do a million in sales if you market it right.
But sitting around and not knowing that there are stores selling the same guns for a hundred less a mile awaw is just stupid. And it's like the gambler who keeps losing and bets more so he can win it back. I had to show my gun store that his "od" glocks were worth money if he advertised them and 650.00 was just way too much for a Glock 23 that cost you 415.00, when the guy down the road is selling 10 at a time for 475.00. I'm being serious, the guys who are turning over product, know their pricing. And know their competition. And also should know that people shop everything now days before they even set foot in the store.And they are going to test you. Why is this better than that. You better have answers or you will lose the client.
Anyway enough rambling, Let me know if any of you guys want to go for coffee, or lunch and just toss it around, nothing in stone.
George
 
gym, something tells me that you are going to have a sucessful business 18 months from now. Sounds as if you have a really good grasp of what it takes to make an operation succeed, and a vision that most lack. In fact, your business model sounds a lot like my LGS, who started very small, is still pretty small, but treats every customer well and doesn't try to make a week's profit on one sale. They are doing just fine so far.

If I lived about four states to the east and was about ten years closer to retirement, that would make an interesting cup of coffee.

I wish you well, and we need more like you.
 
My best friend has been in the retail business for 30+ years, he's offered me a corner in one of his stores for a small gun shop when I retire. I'm seriously considering it, as its a rural location and he has plenty of property on which to shoot.

I could sell off my collection to partially fund my retirement and have a lot of fun in the process spending time with my good friend.
 
Good Luck!! Go Vero

I used to live on North Hutchison Island. For those that don't know, it is an island with a waterway seperating it from both Vero and Ft. Pierce. My .02 would be to focus on Vero. It used to have the highest concentration of wealth per capita in the U.S. Ft. Pierce is full of pawn shops and a rougher clientele all around. Vero would have many prospects for your education and class offerings.

I would also think hard about focusing a great deal of attention towards online sales and transfers. There are a ton of estate sales and gun purchasing opportunities if you focus on Vero. I am thinking Browning Shotguns and Colt revolvers. Vero citizens have.these items. The Ft. Pierce populace will probably have more Lorcins and Hi Points (not knocking it).

Vero Customers would also not blink an eye at custom gun work and the costs that come with it.

I think if you are an honest ffl with reasonable transfers and are actively buying and selling firearms in that area you will do great. Remember that these sales and transfers will keep you busy, bring in money for the electric, and build your relationship with a lifetime customer base. Good Luck!! ;)
 
I been contemplating this, and my Local (closest) Gun Shop (Is a Pawn Broker as well). And one thing I have noticed is.... they do well!

Very Well! And they have a great Gun Shop inside the store! Everything else draws the crowds to the guns and of course there is pawned items that are forfeited and become for sale.

The Pawn side of it I can see as a Huge attribute to sales, however capital intensive for probably the first 2 years due to regulations requiring the 90 day period to hold a pawned item.

But again, they make great revenues off firearms! And a lot of the time I get great deals from them due to my patronage...a lot of the time when something comes in for sale or is coming out of pawn that they know I will be interested in they will call...

And the flip side to that is another gunstore that is strictly gun / hunting sales facility in another state where my brother lives, that has struggled for years to keep new items in stock and the doors open....as well as it has been on market for sale for about 5 years.

I say the Pawn Shop is the angle to approach this venture myself! (My Opinion)

NOTE: They always have the newest/latest firearms in stock!
 
I'd personally love to, it's pretty much what my ideal job/career would be. Unfortunately, at 21 years old, and not even good enough credit to get a somewhat decent car loan, and nowhere near enough savings to look into getting even the basics going...I'm not going to hold my breath on it.
 
Now is not the time to open an establishment that sells durable goods unless you want to do it on a "hobby" basis. But if you actually need a return on your investment, people just don't seem to have enough discretionary income.
 
At one time, I toyed with the idea, however I decided against it with all the red tape and then on top of that my needing a store-front somewhere which would cost big bucks that I would have to make up on sales, which might or might not have happened.

The way the economy is right now, I am glad I am not in any kind of re-sale business, wholesale or retail!

Then there is the liability if you take used guns in for trade that there could be problems with the used guns. Unless you can check them all out and verify they are safe, how does one honestly sell used guns they know nothing about? If you decide NOT to take used guns, then that limits your market as the other gun stores will take your used gun for trade!
 
Many years ago i almost bought a pawnshop that sold a lot of guns. Asked the owner to show me his business tax returns for the past five years; he refused and the deal was off.
 
So much of any business anymore is it is not just the cost of merchandise and sales. Either some form of government or insurance company or bank will screw you in a heartbeat. Been there, felt that. You may have no profit one year and be eligible for food stamps (but can't since you own the business) and be in the alternative minimum tax bracket the next. You pay both sides of social security, you can't take all your income as dividends. Unemployment insurance. Franchise tax. Property tax. Privilege license. Some places even have a storm water runoff tax. The thing is tax entities that don't vote are targets to get taxed. Some towns charge more for utilities if it is a business. Fire and theft insurance with only high deductibles available. Shoplifters. Banks only want to loan money to people who really don't need a loan. Most require you and your spouse to sign a guarantee agreement allowing them to call the note whenever they want. It doesn't matter if you are current with payments. This was common a few years back when banks were making bad loans and needed cash. They called notes on responsible business owners to try and cover their screw-ups.

Online sales will kill you, even if the Walmarts don't. Shipping many times is less than sales taxes. Unless a shipper has a business location in the state where an item is shipped, they don't have to collect sales tax. With sales taxes in the 8-10% range, the cream gets scooped off of sales. A $800.00 scope doesn't cost much to ship.

If you are a minority or woman, you many have an easier go as various fed, state, and local programs favor these small business owners. Otherwise, bring lots of lube if you plan on opening a small business in the USA.
 
I would love to own and operate a gun store.

Hire a bunch of local college girls and train them well...

Flirt.
Flirt.
Sell more accessories.

:D
 
I'm in Tallahassee, and am trying to save capital to start a gun shop. It's taking a while, but I think once I finish my bachelors I'll be able to save money a bit better. I don't have much actual business experience, but I'm good with people in a face to face setting. I've really been thinking/dreaming about opening a gun shop for about the past several years, just haven't had the right set of circumstances. I'm hoping that can change soon.
 
I owned and operated my own shop for almost ten years until Bill the man Clinton came up with his goofy purge of the dealers and the State learned my shop was less than 1000 feet from a Catholic elementary school.

Ended up closing shop and partnering with another dealer for a few years until I moved off most of my excess inventory.

I always made more money on gunsmithing and parts and accessories than I ever did on guns and ammo, the margins are just too slim, at least they were in the glutted market.

Today you might could make it on guns and ammo alone but I'm betting you would get sick and tired real quick of listening to guys spout off how they buy their ammo online and all their guns through Gunbroker.com while not spending a penny in your shop and drinking the free coffee you offer.
 
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