[Q] reasons to become FFL ?

This is a discussion on [Q] reasons to become FFL ? within the FFL Dealer Discussion forums, part of the Related Topics category; hi: new to forum. glad to be here. bought handgun for the first time since late 80's. it was from an online site. found local ...

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Thread: [Q] reasons to become FFL ?

  1. #1
    New Member Array amk's Avatar
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    [Q] reasons to become FFL ?

    hi:

    new to forum. glad to be here. bought handgun for the first time since late 80's. it was from an online site.

    found local FFL doing transfers verry cheap. he operates out of his house. while filling out paperwork, i
    asked if he sold guns. he said that it wouldnt be worth it for anyone to buy a gun from him considering taxes, he would have to order everything in singles etc.. and no, he doesnt get deals on ammo, etc.

    he left the room to call in my nics. the only thing i could figure is that he just makes a little yearly change
    doing transfers. he exactly did seem vague and evasive so i didnt ask anymore.

    makes me think that i could do that as well. i mean, the entire transaction took place in the entry way of his house..

    am i missing something?

    also, currently w/in my state, one individual can buy / sell to another w/ bill of sale. if in the future, i got an FFL of this class, would i give up that right?.. what about if the sale came from my personal collection?


    tia for your patience and all responses.

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  3. #2
    Distinguished Member Array Diddle's Avatar
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    You can sell from your private collection even of you have a Federal Firearms License. And you can make a little money selling firearms as a kitchen table dealer. Assuming your city, state, County, BATFE all agree. (That is a summary statement by the way - nothing all inclusive.)

    You can buy firearms in lots - say 3ea S&W 442 pistols, 2ea of Glock 26 and so on. Buying more than one gets you a small price break. This is what I am doing right now. Wen I sell a pistol or revolver, which is all I deal in, I bank the money, pay my wholesaler imediately and order another firearm. Depending on markup (which I will not debate) you will soon have enough cash to purchase solely from profits. Barrowing money to get into the gun business a risky to say the least. If you expect to make $100.00 on every sub-five-hundred-dollar firearm you sell, your are expecting too much. Competing with dealers like Buds, which sells several hundred firearms daily, you are in trouble. Ammo is nothing more than shelf filler. For me, I have Wal-Mart within 2 miles. Keeping ammo is futal. I can buy it but not in the quantities like Wal-Mart. Add to that the cost of shipping which ain't cheap, makes it impossible to make much of anything. I do however toss in a box of target ammo for a deal that is on the edge where a customer is wants to buy but skiddish in turning loose of the money and I have a larger than expected proffit margin.

    I hope this information help you and always happy to answer questions where I can.

    Be well! Diddle
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    Diddle
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    New Member Array amk's Avatar
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    "also, currently w/in my state, one individual can buy / sell to another w/ bill of sale. if in the future, i got an FFL of this class, would i give up that right?.. what about if the sale came from my personal collection?"

    i was not clear. really, i mean :: could i buy / sell just as an individual and not as an ffl everytime.

    thanx

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    VIP Member Array dukalmighty's Avatar
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    Quote Originally Posted by amk View Post
    "also, currently w/in my state, one individual can buy / sell to another w/ bill of sale. if in the future, i got an FFL of this class, would i give up that right?.. what about if the sale came from my personal collection?"

    i was not clear. really, i mean :: could i buy / sell just as an individual and not as an ffl everytime.

    thanx
    Sounds like a good way to get the ATF on your case,If your gonna try to use the "personal" firearm to circumvent having buyers fill out a 4473.
    "Outside of the killings, Washington has one of the lowest crime rates in the country,"
    --Mayor Marion Barry, Washington , DC .

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    VIP Member Array Crowman's Avatar
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    How to Become a Federal Firearms Licensee (FFL)
    ATF Online - Firearms - How To - Become An FFL
    "One of the greatest delusions in the world is the hope that the evils in this world are to be cured by legislation."
    --Thomas B. Reed, American Attorney

    Second Amendment -- Established December 15, 1791 and slowly eroded ever since What happened to "..... shall not be infringed."

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    New Member Array amk's Avatar
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    your interpretation is that if i get ffl then i would have to tax every transaction, record every transaction and fill out 4473 on every transaction from my personal collection..

    actually giving up privileges that my state allows right now.

    im sure that there is work around for this, but im still just in the consideration phase and im not looking for grey areas to exploit


    edit:: looks like im good for all this except i dont see that existing collection needs to be documented -- just subsequent to the ffl .

    thanx
    Last edited by amk; July 5th, 2012 at 12:57 PM.

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    Distinguished Member Array Diddle's Avatar
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    Quote Originally Posted by amk View Post
    edit:: looks like im good for all this except i dont see that existing collection needs to be documented -- just subsequent to the ffl . thanx
    If you have a safe, and you should have, keep ALL OF YOUR PERSONAL firearms on a shelf marked NOT FOR SALE and keep all your FOR SALE firearms on a seperate shelf. Mark the locations FOR SALE and PERSONAL or use a color-coded dot system RED personal - GREEN for sale or some convention where by your sales stuff is seperate frome your personal collection. Safes are fairly cheap. I find it easier to have two safes. One for sale items and one for personal items. When inspection time comes around there is only a need to quatify what is in the FOR Sale safe along with your bound bood book of purchases and disposals (sales). Extremely easily to do for a small store. Also, whether you are selling from a storefront or kitchen table, keep track of everything and I mean everything. I keep a folder for every purchaser so I can see their purchase history rapidly. And so can the BATFE. Paperwork is critical.

    Diddle..
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