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Joined: Nov 2007
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Campfire Regular
Joined: Nov 2007
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I think a high traffic location in a busy town would be key. In small rural areas people use gunshops as entertainment, not necessarily a place to buy something they're looking for.
This is true! A LGS has a coffee corral that kind of takes the place of the local cafe "Big Table" for old farts. The good thing about it, is it keeps them from bothering him and the regulars can offer lots of free advice and encouragement to potential buyers. Works for him, but I'm still dubious about it and don't think it will work in most places.
My biggest fear is when I die my wife will sell my guns for what I told her they cost....
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Joined: Oct 2002
Posts: 96,121
Campfire Oracle
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Campfire Oracle
Joined: Oct 2002
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Some funny sheit here.
If you build it, they will come.
"Dear Lord, save me from Your followers"
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Joined: Jan 2004
Posts: 10,306 Likes: 3
Campfire Outfitter
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Campfire Outfitter
Joined: Jan 2004
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You gotta like dealing with people.
I don't, and would suck at this.
"A man's got to know his limitations".
Black Cows Matter!
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Joined: Aug 2003
Posts: 5,737
Campfire Tracker
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Campfire Tracker
Joined: Aug 2003
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The same thing happened to the local camera shops. Small profit margin on cameras, film processing, film, chemicals, etc.
People would buy cameras at discount stores in NYC then go to the local store and demand instruction on how to use the camera. Or fix the camera or send it back to the manufacturer all for free.
We charged $25.00 per hour for instruction for cameras not bought at the store. Buy the camera from the store and the instruction was free, any time.
jim
"Whensoever the General Government assumes undelegated powers, its acts are unauthoritative, void, and of no force." --Thomas Jefferson
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Joined: Jan 2012
Posts: 9,381
Campfire Outfitter
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Campfire Outfitter
Joined: Jan 2012
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Like any business, Go to the SBA and the library and learn how to write a business plan that would impress a bank. Then write the business plan and understand what profitability actually consist of and how to achieve it.
Then spend the rest of your life reading BATFE requirements, this will prepare you mentally and emotionally to not kill a certain percentage of your potential customers.
Good luck
mike r
Don't wish it were easier
Wish you were better
Stab them in the taint, you can't put a tourniquet on that.
Craig Douglas ECQC
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Joined: Nov 2011
Posts: 2,387
Campfire Regular
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OP
Campfire Regular
Joined: Nov 2011
Posts: 2,387 |
All.
This is all very good advice. I really appreciate it. I've got lots to consider and think and pray about. My wife has a successful small business as well but where I'm working right now just isn't cutting it.
I've been playing with firearms for over 20 years and have gotten pretty good at flipping used stuff and doing even moderate repairs. I've got an eye for the good stuff and the drive and interest to make this work. Now I just need to crunch numbers to see if I can be successful.
Thanks again and I'll be rereading this thread in the weeks and months ahead. Shoot, I think I'll print it out.
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Joined: Dec 2011
Posts: 3,018
Campfire Tracker
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Campfire Tracker
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Used guns! Buy as many as you can, and being a gun shop you can buy them right! Lots more money in used than new.
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Joined: Oct 2004
Posts: 2,055
Campfire Regular
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Campfire Regular
Joined: Oct 2004
Posts: 2,055 |
Prior Gun SHop Owner here:
A good friend died and I bought from his estate,
Be prepared: It becomes your master, same as any business, whether you're selling tires, tools, or guns.
Stay away from certain brands because they are junk and people will blame you when they try to save a few $$ and get a lemon.
Can you "make a living"? Depends on what you're accustomed to and what your willing to sacrifice.
6-7 days a week, 16 hour days...
And these zombies line up and eat from the media’s trough
Cowards CANNOT be free. Nor should they be.
~Molɔ̀ːn Labé Skýla~
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Joined: Nov 2011
Posts: 2,387
Campfire Regular
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Campfire Regular
Joined: Nov 2011
Posts: 2,387 |
Used guns! Buy as many as you can, and being a gun shop you can buy them right! Lots more money in used than new. This is the direction I'm leaning. I've already got some used guns I'm repairing and getting ready to put in the shop possibly. I would want to stock some new, basic hunting rifles and a couple of handgun lines. It's hard to go wrong with some Howas, Ruger Americans, and Glocks. We'll see.
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Joined: Nov 2008
Posts: 1,569
Campfire Regular
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Campfire Regular
Joined: Nov 2008
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If you do internet sales (gunbroker) make sure you're not taking all the good stuff off the shelves for your walk ins. LGS in my old town used to have a whole rack full of cool old guns to look through. His son started running the online and now the only guns out to see are new ones or run of the mill used stuff. Just my humble opinion. I bought several used guns there that I didn't even know I was looking for until I saw them on the rack.
"Life is not a journey to the grave with the intention of arriving safely in a well preserved body, but rather to skid in broadside, used up, worn out, bottle of Jim Beam in one hand and a .45 in the other, loudly proclaiming WOW-- What a Ride!"
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Joined: May 2008
Posts: 25,521 Likes: 3
Campfire Ranger
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Campfire Ranger
Joined: May 2008
Posts: 25,521 Likes: 3 |
A guy could be pretty successful just doing transfers for online purchases and carrying accessories. There's far no money in buying and selling used firearms than new. Special order guns for the ones that want you to but transfers are all profit for the owner/operator.
�Politicians are the lowest form of life on earth. Liberal Democrats are the lowest form of politician.� �General George S. Patton, Jr.
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~Molɔ̀ːn Labé Skýla~
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Joined: Oct 2006
Posts: 4,213
Campfire Tracker
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Campfire Tracker
Joined: Oct 2006
Posts: 4,213 |
Sell hunting/tactical clothing on the side.
You would be astonished at the markup on clothing - easy 60% to 75%.
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Joined: Jul 2008
Posts: 132
Campfire Member
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Campfire Member
Joined: Jul 2008
Posts: 132 |
I'll jump in as I am a LGS owner. My first thought is that if your father in law can't make it work - what makes you think you can? Taking over a dying business will only make your new baby die on the vine. If you are going to take over his business at least rename it, throw a fresh coat of paint on the walls, or something. You want to generate a buzz about your place, not make people think it's the same old place.
We started our LGS about 4 years ago. Started off small, way small. I found a place for rent right off the main highway for $500 a month - 386 sq ft (my God man it was a dump but we made it work). I think on opening day we had about a dozen milsurps, a used Glock or two, and maybe $50 worth of ammo. No phone. No internet. Hell we didn't even have a sign up. Someone posted in this thread if you build a shop ~ they will follow. This is 100% true. On opening day people just found us. We got some signs up after a month or two and we got a phone. In the early days maybe the phone would ring and maybe it wouldn't.
LOTS OF 12+ HOUR DAYS!
LOTS OF 6+ DAY WORK WEEKS!
SOME DAYS WERE ZERO DOLLAR DAYS!
Couldn't have done it without Mrs. America (the wife). She's had my back 100%. She and I dug our way out of debt 'kinda' following the Dave Ramsey plan. For the first two years we were open I put ALL the profit back into the company (I didn't draw a salary of any kind). I also worked part time at the local airport offloading cargo aircraft so as not to overburden my wife with all the finances. She carried me during this time and I'll never forget it either - I love you Amy (as if she'll ever see this thread)!
You will NEED the thickest skin money can buy. Be positive. Don't lie to your customers as they can see right through it. If you mess up just tell them you messed up and see if you can fix it. Sometimes you can, and sometimes you can't. But they'll come back to your store if you are sincere. ALL of us have a built in BS meter. And don't make stuff up either (as in like don't talk bad about your competition). If you have your act together they'll sink on their own.
SOMETIMES it sucks working for yourself, but that's life. You WILL be the first one there in the morning and the last one to leave every day. Plan on it & live the dream. You will end up marrying your business or it will fail.
I worked my way through college and graduated with zero debt. Been around the world and followed some really good people. Led a few in my time as well. Worked in some production plants. Worked in some retail places. For a small store (1000 sq ft) we sure sell some guns. We've had a store front for over 4 years now and we still don't have a business plan.
WAL-MART IS 1.5 MILES AWAY!
OUR CLOSEST COMPETITION IS 1.5 MILES THE OTHER DIRECTION!
Dick's, Academy, Cabella's, PSA, and a host of other LGS pawn shops are in the area. It is they that compete with us when it comes to service. We spoil our customers with great prices and great service.
And when your service is good - your business will flourish.
Rant off. It's 2330HRS and I have to go back to "work" (I'm responding to customer emails, etc).
- Darrell
Last edited by dogolden; 12/06/16.
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Joined: Aug 2010
Posts: 28,052 Likes: 1
Campfire Ranger
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Campfire Ranger
Joined: Aug 2010
Posts: 28,052 Likes: 1 |
All.
This is all very good advice. I really appreciate it. I've got lots to consider and think and pray about. My wife has a successful small business as well but where I'm working right now just isn't cutting it.
I've been playing with firearms for over 20 years and have gotten pretty good at flipping used stuff and doing even moderate repairs. I've got an eye for the good stuff and the drive and interest to make this work. Now I just need to crunch numbers to see if I can be successful.
Thanks again and I'll be rereading this thread in the weeks and months ahead. Shoot, I think I'll print it out.
If it's your passion, I wish you a successful gun shop
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Joined: Dec 2015
Posts: 5,531
Campfire Tracker
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Campfire Tracker
Joined: Dec 2015
Posts: 5,531 |
My father had a small shop, more of a hobby. It's hard to make money selling Remington 870's and Mossberg 500's when Wal-Mart, Cabela's and Dick's are buying them by the trailer load and pricing them that way. You'll need a bunch of money to carry inventory like scopes and other equipment or you can just order for people. I found a lot of people want to see and feel it in their hands before they buy it. My father never dealt with the ATF, the first time the NJ State Police firearms guy came he was a bit of a prick! He started looking at all the pistol permits that my father filled and when he realized about 80% were for State Cops he asked my father how he knew these guys and my father said my son's best friend is so and so out of the x barracks and the guy never came back! Just a phone call once a year! Good luck, I miss getting all my rifles, scopes, etc. at cost!
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Joined: Sep 2014
Posts: 21,808 Likes: 2
Campfire Ranger
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Campfire Ranger
Joined: Sep 2014
Posts: 21,808 Likes: 2 |
Branch out a bit, if possible. There are no gunshops around here, as I used to know them. They are either mini-cabellas or part of a saw shop, feed store.... Guns and ammo probably won't cut it. Not an owner, just an observer.
Parents who say they have good kids..Usually don't!
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Joined: Nov 2011
Posts: 2,387
Campfire Regular
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OP
Campfire Regular
Joined: Nov 2011
Posts: 2,387 |
I'll jump in as I am a LGS owner. My first thought is that if your father in law can't make it work - what makes you think you can? Taking over a dying business will only make your new baby die on the vine. If you are going to take over his business at least rename it, throw a fresh coat of paint on the walls, or something. You want to generate a buzz about your place, not make people think it's the same old place.
We started our LGS about 4 years ago. Started off small, way small. I found a place for rent right off the main highway for $500 a month - 386 sq ft (my God man it was a dump but we made it work). I think on opening day we had about a dozen milsurps, a used Glock or two, and maybe $50 worth of ammo. No phone. No internet. Hell we didn't even have a sign up. Someone posted in this thread if you build a shop ~ they will follow. This is 100% true. On opening day people just found us. We got some signs up after a month or two and we got a phone. In the early days maybe the phone would ring and maybe it wouldn't.
LOTS OF 12+ HOUR DAYS!
LOTS OF 6+ DAY WORK WEEKS!
SOME DAYS WERE ZERO DOLLAR DAYS!
Couldn't have done it without Mrs. America (the wife). She's had my back 100%. She and I dug our way out of debt 'kinda' following the Dave Ramsey plan. For the first two years we were open I put ALL the profit back into the company (I didn't draw a salary of any kind). I also worked part time at the local airport offloading cargo aircraft so as not to overburden my wife with all the finances. She carried me during this time and I'll never forget it either - I love you Amy (as if she'll ever see this thread)!
You will NEED the thickest skin money can buy. Be positive. Don't lie to your customers as they can see right through it. If you mess up just tell them you messed up and see if you can fix it. Sometimes you can, and sometimes you can't. But they'll come back to your store if you are sincere. ALL of us have a built in BS meter. And don't make stuff up either (as in like don't talk bad about your competition). If you have your act together they'll sink on their own.
SOMETIMES it sucks working for yourself, but that's life. You WILL be the first one there in the morning and the last one to leave every day. Plan on it & live the dream. You will end up marrying your business or it will fail.
I worked my way through college and graduated with zero debt. Been around the world and followed some really good people. Led a few in my time as well. Worked in some production plants. Worked in some retail places. For a small store (1000 sq ft) we sure sell some guns. We've had a store front for over 4 years now and we still don't have a business plan.
WAL-MART IS 1.5 MILES AWAY!
OUR CLOSEST COMPETITION IS 1.5 MILES THE OTHER DIRECTION!
Dick's, Academy, Cabella's, PSA, and a host of other LGS pawn shops are in the area. It is they that compete with us when it comes to service. We spoil our customers with great prices and great service.
And when your service is good - your business will flourish.
Rant off. It's 2330HRS and I have to go back to "work" (I'm responding to customer emails, etc).
- Darrell Fantastic post. Thanks brother. My wife's great too and she's the one really behind me on this doing the encouraging. My father in law is in poor health and he doesn't really try with the shop. He doesn't have the energy and all he's done is buy toys and fixer uppers. I really want to change the name but will probably stick with it as it isn't really well known anyway. I will sell some of the toys to finance real stock that we can sell. Looks like I'll start working up a business plan. Thanks a bunch.
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Joined: Feb 2004
Posts: 46,745
Campfire 'Bwana
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Campfire 'Bwana
Joined: Feb 2004
Posts: 46,745 |
I don't own a gun shop but frequent one every week.
Service is #1 imo. Location is important but people will get to you if you provide them good service. Do what you say you're going to do. Go out of your way to do it. And for F'sakes, know what the hell you're talking about. Don't be Gander Mt or Cabelas or Bass Pro. If you don't know something, tell them. But then find the answer. Don't BS an answer so it sounds like you know what you're talking about...actually know what you're talking about.
Sell stuff people want. Let them handle guns. All of them if they need to.
Have some coffee ready. A good shop will have guys in and out all day to B.S. Give em a reason to stay. Like a good bait shop IMO.
Have a mini fridge with pop for $.50 or $.75 cents. The kids need something to do while dad BS's and looks at guns.
Location is important, but see #1.
Camp is where you make it.
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Joined: Feb 2004
Posts: 46,745
Campfire 'Bwana
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Campfire 'Bwana
Joined: Feb 2004
Posts: 46,745 |
And get to know your customers. My LGS knows I have a hard-on for .280 Rems and Rem pump rifles. They call me when they get one.  Bastards.
Camp is where you make it.
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