thinking about getting my FFL......... - Page 2

thinking about getting my FFL.........

This is a discussion on thinking about getting my FFL......... within the FFL Dealer Discussion forums, part of the Related Topics category; Originally Posted by J0eyg86 so it really seems like from what im hearing that the most difficult part of this whole process is the business ...

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Thread: thinking about getting my FFL.........

  1. #16
    Distinguished Member Array Diddle's Avatar
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    Quote Originally Posted by J0eyg86 View Post
    so it really seems like from what im hearing that the most difficult part of this whole process is the business side of things and not the FFL side of things.

    with wanting to do this as an online venture what should i be looking at as far as listing for hours of operations??
    The "Hours of Operation" are mainly for BATFE convenience. Meaning that if you list you are open M-W-F from 2:00PM-6:00PM and they want to do an inspection or audit they know to come between those times. HOWEVER, if you are a home dealer, and you make this clear to you IOI during the initial interview, they will generaly tell you that they will call a day before they are to show up. As my IOI said, the last thing we want to do is an audit on a home dealer in a bathrobe or gown. My suggestion is to simply put down days and times when you are normally at home.

    You are correct in that the business side is the most difficult. Getting you FFL is a rather simple process. Getting set up with dealers is when the work really starts. Every vendor will require at a minimum: a copy of your FFL, a copy of your business license and a copy of your sales tax permit. All of this will likely be needed to get a bank account setup too. You will also need a Employeer Identification Number, EIN, regardless of whether you have employees or not. Once you get your FFL, as well as these other documents, scan them and make a folder on your PC to hold them. Then when you need to send a vendor your information you will have it all in one place and ready to go. DO NOT sign your original FFL. Make a copy and sign ONLY that copy. Your original FFL, unsigned, is considered a 'certified copy' and the original document.

    Something you may or may not know is that your IOI does more than deal with firearms dealers. My IOI also does inspections on coal mines, rock quarries, construction sites and places where explosives are used, stored and tested.

    So far my experence with the, BATFE, has been nothing but pleasant and helpful.

    Regards!
    Diddle
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  2. #17
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    So far my experence with the, BATFE, has been nothing but pleasant and helpful.
    That's my experience too. I've got mine on speed dial. She has never not come through for me yet. It may take her a day or too to get back with an answer, but so far she's been great.
    I would rather stand against the cannons of the wicked than against the prayers of the righteous.


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  3. #18
    New Member Array Casebeer's Avatar
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    I am looking to get my license as well and I spoke with my insurance guy about it. He called all the companies he works with and they said they would cancel/not issue my house policy if I run a gun related business out of my home if it involves storing weapons or ammo or if the customers come to my premises to pick up the items. He said we would have to find a commercial policy which sounds like more $$ to me. The other option is to rent some office space at my father-in-law's building but I assume I would have to have a separate business liability policy for that anyway.

    I am just wondering what experiences or thoughts you have on insurance requirements for your FFL.

  4. #19
    Distinguished Member Array Diddle's Avatar
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    There is a insurance provider through the NRA that will insure you. Seems like it runs about $800.00 per year. Includes liability and inventory loss.
    Diddle
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  5. #20
    New Member Array Joatman66's Avatar
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    thinking about getting my FFL.........

    What's involved in the IOI interview that takes 4 hours?

  6. #21
    New Member Array WCGS's Avatar
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    I just received my FFL 01 two weeks ago and the process from mailing the application to receiving the FFL in the mail was 6 weeks 1 day, then an additional 1 day to get my PA License to Sell Firearms and an addition 7 days to get my PICS (PA adaptation of NICS). My interview lasted 1 hour and 55 minutes from the time he knocked on my front door. The interview was done in the office (living room couch) which is where I told him I would be doing my home FFL business. The only glitch I ran into was on the FFL application I put "Owned Location of Doing Business" which was wrong, because I was getting the FFL through a LLC I setup, the LLC actually was getting the FFL, not me, and this definitely expedites the process with the ATF, so for that ownership question, the answer was "Lease" since the LLC (which I own 100%) would be leasing the office space (my living room) from me for $0 per year.

    Number one reason for getting turned down for an FFL is LOCAL ZONING LAWS. Before you even fill out anything, get a letter from your local zoning board which states you are allowed to run an FFL based business from your location, whether it's home based or a retail store, and you will include that letter with your application to speed things up.

    I used the FFL123 service and read EVERYTHING they sent me, I breezed through the application (except for that ownership part) and while parts of their documentation was confusing at times, I definitely made things easier for me and I sent the guy a great testimonial about his service. Do you need to use something like FFL123, no, but it made it easier for me and I didn't want to screw up my application and drag things out.

    Good Luck

    Tredd Barton
    Washington County Guns and Suppressors LLC

  7. #22
    VIP Member Array Tubby45's Avatar
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    Quote Originally Posted by Joatman66 View Post
    What's involved in the IOI interview that takes 4 hours?
    They go over all the laws that pertain to your business.
    07/02 FFL/SOT since 2006

  8. #23
    Member Array mrkurt's Avatar
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    My city requires me to apply for a home business and pay., I dont want apply if I cant get my ffl license first. or vs versa. I'm confused on what to do.

  9. #24
    VIP Member Array Tubby45's Avatar
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    Start local and work toward federal. ATF won't really deal with you if you don't have your state and local stuff taken care of.
    07/02 FFL/SOT since 2006

  10. #25
    New Member Array WCGS's Avatar
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    Tubby45 is right.. you have to satisfy all local zoning laws first and once you do that, getting the FFL is relatively easy, but time consuming.

  11. #26
    New Member Array Haze's Avatar
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    I just posted this in another thread but may be helpful here...

    I started the FFL process last July and currently am still waiting for the NY Dealers License. The FFL is under a corporation and the corporate building is located on the same property as our residence. It has separate commercial insurance for another business that is housed in the same physical space. There are only a handful of companies in the US that will insure a gun business. Of 4 FFL's near me 2 don't have the correct insurance and know it. One of the 4 just abruptly closed their doors after what a customer stated to me they didn't know they could be sued if a BG uses a gun purchased from their store. I'm also hearing they had a serious problem along those lines. They had a booming business in a commercial location. Anyhow after a 45 day wait from submitting the application I finally signed with Joseph Chiarello for $1100 per year. This is a 2 million aggregate policy with 1 million per occurence. This is the minimum you should have to sell firearms in my opinion. A homeowners policy will not cover you for product liability when it comes to firearms. The NRA quote me $4500 per year. You want to make sure you are insured properly and also protected by a LLC or corporation unless you don't mind having all your personal assests on the line. Most of the distributors I talked to are trying to push out home based FFL's. On all the applications they want your insurance company name, policy number, all your bank information and other trade contacts. Jerry's just raised their initial order to $5000 and Ellet Bros. is at $2500. Not only does the commercial insurance cover product liability but it also covers the usual things like slip and fall and other accidents when someone is on your property for business reasons whether a customer or a sales representative.

  12. #27
    Member Array CBXMan's Avatar
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    Quote Originally Posted by GoldwingElf View Post
    I would recommend any small business venture set up as a LLC or S Corp to protect your personal assets.

    I don't think an LLC or S-corp gives an sole proprietor any protection. Better to get good insurance.

  13. #28
    VIP Member Array Tubby45's Avatar
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    Quote Originally Posted by CBXMan View Post
    I don't think an LLC or S-corp gives an sole proprietor any protection.
    Yes, an LLC and S corp offer liability protections for all it's members/officers. The reason for the LLC is because many states do not allow an S corporation to have one officer, there must be at least two. An LLC can have only one member if it wants to. The corporate protections of an LLC are the same as other corporate forms no matter how many members or officers are there. A single member LLC has the same protection as an S corporation with 5 officers.
    07/02 FFL/SOT since 2006

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