If you’re a firearm aficionado and sort of an expert and you’re thinking about opening up your own gun shop, you’re probably aware of the fact that regulations and control make it this a bit harder than the average small shop establishing. After all, you’re dealing in potentially deadly weapons, and it’s understandable why this set-up is a bit more difficult than trading groceries. But for very problem there is a solution, so as long as you have a clean track record and do your homework about what papers you need, you’ll get there eventually. In spite of the fact that the gun shop business is becoming a bit pressured by all the restraints issued lately, both in the United States and in Canada, it’s still a pretty nice business once it’s set up, and can return quite a large income. You just have to pass through some legal hoops first. We’ve put together this short guide to help you get started on that homework.

Making sure you fulfill the legal criteria to own a gun shop

Which means that you have a clean criminal record with no violent activity whatsoever. A few bad parking fines will probably be accepted, but

behind the counter at a gun shop

This could all be yours!

anything of a violent nature will make it problematic for you to obtain a license. Second of all, make sure you possess the required capital needed to be invested. A basic estimation states that you need between $10.000 and $50.000 in order to think about setting up your firearm trading business. This includes fees and other legal requirements, as well as the renting, first purchases and so on. Make sure you have secured the cash, and then perhaps even speak with a business consultant with the best way to proceed with investing it.

The nest step is registering as a firearms trader. State institutions usually publish the requirements and paperwork to fill online: for example, the information you need about who should register or about the $2.250 fee you need to pay before starting. Be careful as some state have their own, slightly different rules and requirements, and to make sure you’re completing the right steps for opening a gun shop in your area, speak with a representative of the bureau you’re applying at before starting. It’s somewhat of an extra hassle, but only if you go through all the requirements with this public relations official can you make sure you’re on the right track and you won’t have to do any extra work later to fix whatever was wrong in the paperwork.

After obtaining your registration code from the state where the business is conducted, you can basically start your shop’s activity. The registration number you’ll receive after completing the required steps will begin with an M (for manufacturers or exporters) or a K (for brokers), followed by a string of four or five digits. You should keep this registration number private and secure and only disclose it upon official inspection. Unlike other businesses, this number doesn’t have to be stated in the company info or on the gun shop’s website, because that would violate this need for secrecy. The registration (both for new and for renewed ones) is valid for a period of 12 months, after which you need to renew it. Think about it in due time ahead, as it can take up to 45 days until the renewal is issued.

It may seem that opening up a gun shop business can be quite a bit harder nowadays than it used to be, due to increasingly tight safety regulations and concerns, but it’s not impossible yet and, as we stated above, it still makes for a good and profitable business. Think about it like this: all this tight grip new regulations are for the best and the authorities are trying to cope with the gun control debate and the gun-related violence in a way which is best for everyone. Licensing laws are a good way of avoiding the private sale loop-hole that made it easier for people to obtain guns without going through appropriate background checks. Hopefully, the new regulations will make sure that guns only reach the hands of people trustworthy enough to handle them for the best. Your future gun shop can be a part of this safer environment, even if it means a little extra paperwork.

Article sources:

http://pmddtc.state.gov/registration/index.html

http://pmddtc.state.gov/registration/arf.html

http://pmddtc.state.gov/registration/wmr.html

http://smartgunlaws.org/universal-gun-background-checks-policy-summary/

http://www.entrepreneur.com/businessideas/gun-shop