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To clarify my abrupt answer, I am the sole proprietor of an ammunition business. All legal, licensed and such. Periodically people have seen what I've got going on and want in as a partner or investor. For a partner someone needs to be equally vested in what they bring to the table not just someone that thinks there is money to be made riding on my back. An investor wants profit on their money and that is money out of my pocket. If anyone makes money off of me, it should be me.
 
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To clarify my abrupt answer, I am the sole proprietor of an ammunition business. All legal, licensed and such. Periodically people have seen what I've got going on and want in as a partner or investor. For a partner someone needs to be equally vested in what they bring to the table not just someone that thinks there is money to be made riding on my back. An investor wants profit on their money and that is money out of my pocket. If anyone makes money off of me, it should be me.
Could you clarify, what you are asking of your partner. Whether it be shop b!tch, xxx years experience gunsmithing and 40hrs a week to apply towards the business, accountant/adminstrative/book keeper (both financial and FFL), financial. etc.
 
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I'm not looking for a partner period, I thought I was pretty clear on that with my first statement.
My apologies, I clicked the wrong post to reply. It was meant for the OP. I was jumping back and forth from responding to classified messages and posts and didn't scroll back up high enough. He asked not only investor but partner, and would be beneficial to him to list what he brought to the table other than financial support. If any

Example, if I personally were in his shoes.
I'd list my years of working in the firearms industry on the manufacturer end of things, how many FFL's I've worked for and running paperwork. My experience as a gunsmith. etc. Like a quick resume.
And I can contribute XXXXX Dollars. And I will receive XX% of profits and you'll pay me XXX per hr gunsmithing etc.

It's crazy how many solicitations I've gotten or at ffl's I've worked for to "partner". But they were all talk and the financial incentive was laughable in most cases. The only thing they brought to the table was money at the end of the day. Because they brought no skills, expertise or experience
 
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I'm not looking for a partner period, I thought I was pretty clear on that with my first statement.
Seems even clearer to me that nobody asked you, except for a mistaken click that would never have occurred without your oddly irrelevant comment. As a business owner myself, I can understand the sentiment, though.

Imagine if people replied to classifieds here with “I don’t want your item”.
 
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I'm interested in either starting up an FFL Type 1 + SOT with a partner or two, or joining an existing FFL as an investor and partner. If anyone in the community is interested, let me know and we can chat more.
I would encourage you to pursue the idea. The more FFLs the better imho. Even without a partnership you might be able to share space with another FFL or two or three. Good luck!
 
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I’ve tossed around the idea of an FFL+SOT just for fun and for access to some of the perks. My main business only takes a couple hours a week, so I have plenty if time. What did you have in mind, a brick and morter store front or more of a kitchen table operation?

PM me if you want to discuss it further. I have a friend who ran an FFL with his brother for a few years who said he would be willing to help with any questions. I won’t presume you do, or do not, have any business acumen.
 
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I say go for it. Partners has pro’s and con’s.

Start a list of both and then weigh out the difference’s. The benefits or setbacks.

Think if it’s a brick and mortar shop. Are you doing online selling? Who’s doing the website? What about accounting? Inventory control? Where are you securing the firearms? Are you doing transfers? What days are you going to be open? Hours of operation? Is it about making money? What is going to set you apart from everyone else?

I had a plumbing and sewer business that I no longer have. I had a partner. He wanted to go one way and I another.

Good luck with your endeavors and I hope you succeed. Just realize it’s a lot of work
 
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Popping smoke here
As a self employed small business owner of 22yrs:

1. Business partners do not have to have equal ownership of a business. One can “own” 1% and be a partner. Silent, active does not matter. Partner is a partner. Just hammer all that out in your Operating Agreement before you get started. Not sure what an Operating Agreement is, STOP and go learn before talking partnerships at all. *

2. Investors - provide what is known as OPM or Other Peoples Money. = Bascily how every major business has EVER grown. It’s NOT $$ made off the back of the person with the Idea. It is 100% other way around. Use THEIR (the investors) $ to grow your business, yes pay them dividends for the use of their $ but done right your growing your share exponentially at the same time. Done wrong they lose their $ and you don't lose as much. Risk v. reward. However usually done with some scale.

SOT = is not something that is shared. SOT is issued to a person, not a business. FFL can be a business with individual “responsible persons” in it. The SOT = is to a person in the business (a “responsible person”) You don't share it.

To the OP, Welcome to the board. Don’t lets others stop you from trying/doing a business. Just do the research and go in as best educated as you can. More than just getting an FFL, also figure out your business goals first then build backwards. I would flush out your FFL 01/03 plan more. Lots of home based FFL 01’s out there. $150 for 3yrs is not allot of $ if your looking to sell/broker etc. Don’t know many that take on partners to do that. The Form 03 SOT at $500 per yr is a bit more, and one would want to have a solid plan in place for how they are using their SOT business wise. But of course you have to FIRST get your FFL.


*I took on a biz partner 5yrs in on my business (Non firearms). 8yrs later it was like a divorce to separate. Sucked. But we did separate and my business took off once I got full ownership back. Me personally would have to have a major shift in my belief to ever take on a business partner again. BUT this is me.
 
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