To avoid the copy and paste of everything we have already covered this semester, I will summarize a few of the topics and discuss how I would approach it and what may or may not be required. To start lets talk about the Firearms Customer. If all your business is was firearms sales then the market has some serious booms and busts. However, opening a gun range along with my FFL to sell and manufacture firearms I keep those customers coming back.
When predicting customer demand, it can be important to remember a few things. Do your customers hunt and what season is approaching. What type of firearms should be used for the animals being hunted. These things would affect what I’m ordering and when. If you live in a city then you may need to find a different type of customer in your local market. In this case I would look at what new firearms are hitting the market and what demand there may or may not be for them.
Let’s not forget the ever-important gun laws and legislation required to open a firearms business. They can be broken down from federal to state and even county laws and it is important to keep current with them as in some areas this changes regularly. Obtain your Federal Firearms License with the ATF and don’t forget that when you submit your paperwork to them, you will also need to send a copy to your local law enforcement for review and approval as well. Then there are the general business licenses and permits to consider. Getting a tax ID number and possible EIN numbers for W2 employees is important and the business is required to display their sales and use tax permit at all times.
Finally, creating a sustaining business structure that continues getting people in the door and spending money is make or break for a new firearms business. Having product, the customer will continuously need ammunition, and this may equal returning customers. But don’t forget that one of the best, cheapest, and easiest ways to retain your customers is to remain friendly and helpful every time someone visits your location. If the customer doesn’t feel welcome and leaves unhappy, they are not likely to return to your business.
Comments