Need input

[Bounty Hunter]

We need input please. My buddy and I are thinking of opening a shop. Right now we do not have FFL,so it would mainly be an accesories shop,until we (or if we decide to get FFL). We have a pretty good acces on ar accesories, molle gear, some police gear,mags ect.
I guess what I am getting at is does anyone think the accesories end of things would justify enough buisiness without the FFL and firearms end of it? Or should we go full bore and get FFL also.
There are no shops for at least 50 miles to get anything firearm or tactical related. There is one gunshop locally that has firearms ,but not a thing accesory wise.Barely carries holsters,or anything for the guns they sell.
Just trying to get a feel and some input to see if it is worth pursuing,. Obviously it would be better to sell firearms and everything to go with them, but just sticking our toe in the water to get a feel for what everyone would want.

 

[JML]

Where are you planning on setting up this shop?? Most gun shops are seriously lacking in the accessory department.Plus theres still alot of people out there,including myself that would rather be able to hold a part or accessory in my hand and be able to see it than ordering online.If you surround yourself around the more popular firearm platforms im sure you'd have plenty of business.

 

[Colt556]

Dependent on where you are and the client base available I think most people buy accessories after they buy their gun. To sell only accessories might be a better option for a gun show type business but for a free standing business I'm not sure. But it's only my opinion.

 

[Hammerhead]

Just initially, I have to agree that the gun shops I've been to have been lacking seriously in the accessories department. And the ability to actually test out accessories with guns would be great.

 

[manygunsmike]

There is a spot to fill in Crown Point , and it has an indoor range ? that might help out with the money untill you get the FFL.

manygunsmike

 

[Hammerhead]

Oh, and as far as brands, I'd be sure to have Springfield Armory's XD gear. It's a pain to find hi-cap mags with the grip extenders.

Perhaps I haven't been looking in the right stores for them.

 

[451_Detonics]

Without a FFL the big distributors won't do business with you so you would likely be buying for very close to the same price anyone can buy online for. Your point margin would have to be very low in order to draw people in and at a couple points per item I don't think you could keep a store open long...just isn't enough profit. You would still require insurance if you are selling any gun parts at all, maybe not just for leather and such. But the sale of a single 10/22 barrel or AR hammer would leave you open to a lawsuit.

In today's market I would consider opening a gun shop if I had about 100,000 in cash in hand and enough money banked to live on for a year. A hundred grand would cover inventory and overhead for about 12 months, would still need money to cover my home nut.

I am speaking from close to 20 years experience owning a brick and mortar full line gun shop.

 

[Limpy88]

location is a big thing for any store front. and right now every store owner i talk to says business is down. the weather is warm and the kids are out of school. every body as something else to do.

 

[leftsock]

Would I like a shop where I can try out and look at accessories/holsters before I buy: yes.

Do I think it'll be successful as a business: probably not.

Remember, you can't be everything to everyone. Identify your customers (or who you want your customers to be), figure out what sort of purchases they make, and what it takes to get them to do business with you.

Are they high-end product buyers, or are they looking for the lowest cost on an item. Would there be enough business in your area to sustain operations? What sort of competition is there? How many holsters/magazines/accessories are you going to have to sell each week/month/year to make your goals? Do you have to compete with online retailers?

If you're interested in the business, you need to start doing some research to determine what it will take to make it successful and form a solid business plan.

Starting a Business: Top 7 Reasons Why Small Businesses Fail

5. Lack of Planning
Anyone who has ever been in charge of a successful major event knows that were it not for their careful, methodical, strategic planning -- and hard work -- success would not have followed. The same could be said of most business successes.
It is critical for all businesses to have a business plan. Many small businesses fail because of fundamental shortcomings in their business planning. It must be realistic and based on accurate, current information and educated projections for the future.
Components may include:

• Description of the business, vision, goals, and keys to success
• Work force needs
• Potential problems and solutions
• Financial: capital equipment and supply list, balance sheet, income statement and cash flow analysis, sales and expense forecast
• Analysis of competition
• Marketing, advertising and promotional activities
• Budgeting and managing company growth

In addition, most bankers request a business plan if you are seeking to secure addition capital for your company.

 

[Joe Williams]

People will come in, look at your stuff, take your time, then go home and buy it off the internet because they can save 3 cents.

 

[Bounty Hunter]

Thanks for the input everyone. It was a big help. We have thought many of those things out, but you guys brought up some good stuff. Much appreciated! We will let you know if we decide to get this off the ground. Thanks again!