getting an FFL

[duckmanep]

I'm considering getting one. Would like to offer transfer services at a reasonable price in my area since I see online sales booming these days. Would slowly build a small inventory of popular selling items. Don't plan on getting big, and would run out of my home as a sole proprietor (outside city limits).

Reasons not to???? Go.

[MOY]

Following interested as well

[papadoc]

Following. Same scenario.

[Samson]

It's great to have an FFL, but beware of the baggage that comes with operating the FFL out of your home. Also you might want to consider an LLC instead of a Sole Prop. As a sole prop you will need to login all your personal guns to the bound book and everything you sell (personal or not) has to have a 4473. As an LLC you as a person are separate from the FFL entity so you can still sell your private collection without having to run it through your book. Also the ATF can randomly show up at your home any time so be aware of that. Even though you are outside of the city, your must read your deed restrictions to make sure they allow businesses to be run from your home. The IOI inspector will ask for a copy of them at your preliminary inspection. I could not run one out of my home because my deed restrictions have a no commercial uses provision. Also half of the distributors out there will not allow you to open accounts with them because you do not have a storefront.

[trophy8]

Keep in mind a lot of the pricing isn't very good unless you are direct or move some big volume. Just starting out youd be close to selling at cost just to match the online guys and academy on most things. Not all but most.

Also, ask yourself if you want strangers coming into your home knowing you deal guns. That's the kicker for me.

A very good friend of mine has his FFL and just got his SOT and he does it out of his house. He mainly just sells to friends and family for these reasons.

Samson made a good point and one that will come up. Your city may not let you run it out of your home. I have no idea about being in the county as ive never dealt with it before. I can tell you it saves me a ton of money having a friend as an ffl and he enjoys shooting them and playing with the guns we buy hahaha. Getting to shoot my suppressors before they get approved is nice too

[Samson]

Speaking of SOT, there is a plus to paying your FFL SOT tax. When you order your cans or MGs, they can indefinitely sit on a form 3 even after you give up your SOT. No need to transfer them to a trust @ $200 a pop. Form 3s are currently only running about 60days, instead of the 9 months the form 4s are taking. When e-forms was running the form 3s were only taking 3-4 weeks. You will be inspected on your inventory however when you have your bound book inspected.

[Steve_243]

I have had my FFL for almost 9 years and run it out of my home. I have no problems with distributors shipping to me because I have no store front. I live out in the sticks. Also you are subject to one warrant less search per year by ATF. This is when they audit your books and inventory. I've been checked twice in 9 years and have never had any problems. Good luck

[Colton]

Can you get an FFL for personal use? Would it be possible/worth it?

I won't go into details but I am still waiting on my order and the whole FFL process was a major pain in the butt... I know normally the process is pretty easy but in the future I would prefer not to have to go through someone else.

[trophy8]

Speaking of SOT, there is a plus to paying your FFL SOT tax. When you order your cans or MGs, they can indefinitely sit on a form 3 even after you give up your SOT. No need to transfer them to a trust @ $200 a pop. Form 3s are currently only running about 60days, instead of the 9 months the form 4s are taking. When e-forms was running the form 3s were only taking 3-4 weeks. You will be inspected on your inventory however when you have your bound book inspected.

This is true. But don't say only taking 60 days.... that waiting time is retarded.... heck, the entire NFA registry is retarded LOL

You can buy some pre may dealer samples, which are still high than post samples but still cheaper than a standard pre 86 transferable and you can keep them if you give up the SOT

One downside is having to pay ITAR. To be honest, you can make more money right off the bat as an SOT selling suppressors etc than just selling title 1 stuff. But you have to have a place to store them all. Only downside.

My wife wants us to start a gun shop but I don't think I want to mess with it .

I say go for it and get your FFL.

[KLAPPER]

DONT DO IT!!! I had my type 7 FFL for three years and I sure was glad when it was expired there is very little money to be made as a home based FFL, the wholesalers dont leave enough price margin for anything to be very profitable especially if you cant keep items in stock because money is made on impulse buys not having to wait for stuff to ship if someone wants to wait for something to ship in most cases they could have bought it cheaper and tax free from online retailers like buds guns or optics planet etc not to mention you can kiss the casual gun trade goodbye that means no more meeting a fellow tbh member in a wal mart parking lot to do a deal the ATF isnt to bad to deal with I actually had a very positive experience with them but there is definately a lot of things to consider before you decide to do it good luck!

[Samson]

I have had my FFL for almost 9 years and run it out of my home. I have no problems with distributors shipping to me because I have no store front. I live out in the sticks. Also you are subject to one warrant less search per year by ATF. This is when they audit your books and inventory. I've been checked twice in 9 years and have never had any problems. Good luck

I didn't say all distributors . Accusport, Jerry's, Lew Horton, Hill country wholesale will not let you open an account without pictures of your storefront. Just a few examples. RSR, Zanders and Davidsons will allow home based FFLs.

Also you are not required to pay ITAR as on 01 dealer with or without your SOT. Only manufacturers are required to register with the DDTC and pay ITAR.

[trophy8]

I didn't say all distributors . Accusport, Jerry's, Lew Horton, Hill country wholesale will not let you open an account without pictures of your storefront. Just a few examples. RSR, Zanders and Davidsons will allow home based FFLs.

Also you are not required to pay ITAR as on 01 dealer with or without your SOT. Only manufacturers are required to register with the DDTC and pay ITAR.

I know that. But that's the only way you get to play with the cool stuff

[Steve_243]

I didn't say all distributors . Accusport, Jerry's, Lew Horton, Hill country wholesale will not let you open an account without pictures of your storefront. Just a few examples. RSR, Zanders and Davidsons will allow home based FFLs.

Also you are not required to pay ITAR as on 01 dealer with or without your SOT. Only manufacturers are required to register with the DDTC and pay ITAR.

Was just throwing in my 2 cents....

[Steve_243]

If any TBH'ers need a transfer around Nacogdoches or surrounding area, transfers are free for TBH folks.

[Samson]

I know that. But that's the only way you get to play with the cool stuff

Not the only way, just the easier way. As an 01 with SOT paid you can buy post samples with a LEO or other agency letter. Definitely the easier way is having an 07 manufacturers license and just making your own.