I am in Vero, and there is only one gun store of any consequence here. I have been in a half dozen Businesses, and understand the pitfalls, but still feel that a well run Gun store with a good internet presence can do well here.Most folks make decent money here and they have no options other than getting ripped off by our local store. I can't do it myself, but have some good years left, and thought it could be an interesting business. Not looking to set the world on fire, just to give folks a reasonable alternative, to Gun shows and high overpriced stores. I would stick to the basics, Glock, M&P, SIG, 1911's, AR's Ak's and Shotguns. and used guns, ammo. At least in the beginning, until I saw what sold best. Interested, let's grab Coffee.
Here's what I learned working at a gun shop in NC:
-There's as much profit to be made from accessories and parts as guns
- There is often more profit to be made from used/ trade-in guns than new ones
- Options like gunbroker are killing brick & mortar stores, be prepared to do lots of transfers from these sources, but set your transfer fees at a price that is competitive with everyone else in your area
- beware of wal-mart., they can sell the guns and ammo that THEY stock at or below what you can in most cases
- gun shows are the natural enemy of gun shops, and they are a true "buyer's market"- dozens of dealers under the same roof. selling the same stuff, all competing for the same customers who all paid $7 and have hours to comparison-shop in a finite space
- get set up with at least 2 if not 3 distributors (we had the best luck with Ellet's) to insure you can get inventory
- Be prepared to do special orders for items you don't normally stock- this is especially true for hunters who can be very stubborn about what they want
- Try to get "in" with local law enforcement for contracts on whatever equipment they may be considering- I found that they often like to procure their equipment from as few sources as possible.
- Network with the other "key players" in your area- competent local gunsmiths, ranges, people offering training, etc
- Participate as a sponsor for activities like charity raffles, ducks unlimited type organizations, and the like. By selling the organization a gun at cost and waiving the transfer fee, it gets your name out there and generates new/repeat business.
- Have someone who can do basic repairs, troubleshooting, and tasks like mounting scopes
- Have a knowledgeable staff who can deal with the diversity of "gun people" and their passions (hunters, the "tactical crowd", 1st time buyers, competitors. etc.)
- Customer service is king