Starting a Gun Shop – Sample Business Plan Template
1. Incorporate Your Business
The fact that owning a gun shop is highly regulated means that it is mandatory to incorporate your business before you can engage in the buying and selling of guns and ammunitions. So, the first thing you need to do to get started is to visit the corporate affairs commission of your country to make enquiries on all you would need to be able to successfully open a gun shop. This is necessary because the legislation for various countries differs when it comes to dealing in firearms.
2. Apply and Obtain the Required License and Permit
Starting a gun shop is one of those businesses that requires license and permits from the federal government before you are allowed to engage in the business. You must apply and obtain Federal Firearms Dealership license before you can start your own gun shop. It is important to point to the fact that it is difficult, demanding and it takes time before you can be issued this license. Background checks, security check and other necessary screening will be conducted before you can be issued Federal Firearms License and Permits. The federal government ensures that they put all things in place to regulate this type of business.
3. Rent / Lease a Secured Location for Your Gun Shop
Your choice of location for your gun shop determines how successful your business may grow. The truth is that the location you choose to open your gun shop determines if you will be issued Federal Firearms Dealership License. Government officials must first inspect your shop to be sure that it is located in a secured location before issuing you Federal Firearms License – FFL.
4. Install all Safety Mechanism in Your Gun Shop
Part of the criteria that would be used to access your readiness to successfully run a gun shop is the safety mechanism that you install in your shop. You must ensure that your guns and ammunition are not displayed in a place where anyone can easily pick them up. Even if you are going to display them in a glass shelve, the glass shelve must be secured enough to prevent people from picking it up. There should be other safety gadget installed in your shop. The fact that gun powders are highly explosive makes it necessary to be safety conscious when running a gun and ammunition shop.
5. Get the Required Insurance for Your Gun Shop
Running a gun shop requires that you buy all the necessary insurance policies. No doubt it might be very expensive insuring your gun shop, but it would pay you to insure your gun shop. Here is what you need to do; discuss with your insurance broker so that you can be properly guided on the suitable insurance cover you would need for your gun shop.
6. Establish Adequate Record keeping for all Transactions
Because of how delicate running a gun shop is, you would be required to keep proper and detailed records for all the transactions you carry out in your shop. Information such as; date of birth, sex, social security number, home address, office/business address, email address, and what have you. These details are part of the information you must obtain from anyone who purchase gun or ammunition from your shop. It is important to state that from time to time, security agents from the federal government will visit your shop to inspect your records and if you are found wanting, your FFL will be revoked.
7. Strategically Advertise and Market your Business
If you intend to be successful in buying and selling guns and ammunitions, then you must develop strategies that may help you advertise and market your gun shop. You would need to visit ranging sites, games sites and other locations where you can get to meet people who are able to buy your guns and ammunitions. You can also open a website to promote your gun shop online.
To be successful in running a gun shop, you must study and understand the various guns you sell, and if possible know how to repair and service them when they develop faults. In addition to selling guns and ammunitions, you can also add other instruments like bows and arrow, spears, knives and other stuffs used for hunting as part of what you deal in, and also you can assist your customers to obtain the required license for owning a firearm.
If you are successful in opening your gun shop, you must not relent; you must continue to do all it takes to continue to be in this line of business.
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