FFL Checklist

[CountryGent]

Well, I've been planning on setting up an 01FFL side business for some time now. This month, I've started to get the ducks in the row for just that. I've got the paperwork, essentially, completed and ready to be sent off the first week of next month.

I started this thread for two reasons:

1. This is sort of the unofficial check list I created. I'm sure I missed something, so any recommended revisions would be great.
2. I know we have dealers on board who have "been there, done that" and I would value any tips, thoughts, etc.

As to the list:

Before Licensed:

[✓] Decide on name.

[ ] Open business checking/savings account

■ Handle local government.
[✓] Zoning confirmation
[ ] Business license
[ ] CLEO copy

■ Handle state government
[ ] Setup with NICS

■ Handle Federal government
[ ] EIN from IRS
[ ] Application
[ ] Fingerpint cards (x2)
[ ] Photographs
[ ] ATF Interview

After Licensed:

[✓] Setup account in Quicken or Quickbooks

[ ] Setup company website

[ ] Apply for Special Occupational Taxpayers (SOT) so that I can deal in NFA items

■ Acquire equipment and supplies
[ ] Bound book
[ ] Secure storage
[ ] Fingerprint equipment
[ ] Consumables
[ ] Credit card app (and related) for phone

■ Setup with online retailers
[ ] Academy Sporting Goods
[ ] Gunbroker
[ ] Auction Arms
[ ] Grab-a-Gun
[ ] Bud's Gunshop
[ ] James Julia Auction House
[ ] Rock Island Auction House
[ ] Cheaper Than Dirt
[ ] Cabellas
[ ] Bass Pro
[ ] Brownells
[ ] Midway
[ ] RK Guns
[ ] Dixie Gunworks
[ ] Gallery of Guns
[ ] Sportsman's Guide
[ ] Silencer Shop (post SOT)
[ ] Impact Guns
[ ] Hyatt
[ ] Palmetto State Armory
[ ] SOG

■ Advertise
[ ] Locally
[ ] NWFA
[ ] Other

Thanks all.

Read More

 

[CountryGent]

I'm thinking for transfers:

• $20 for regular Title I items
• $50 for NFA items
• $10 for Title I items for active NWFA members, veterans, and teachers

(In this rural area, the cheapest transfer I've found is $25, and that is a home-based FFL.)

 

[DuneHopper]

If you can get a business address and phone number, I had a firearms related and every left nut was contacting me, still do and I don't even do it anymore. Safety precautions is what Id listed it as. Weird the people that come out of the wood work when its firearms related.

 

[Greenbug]

If you have never done it before, and even if you have some experience. I would recommend learning proper paperwork processing skills, record keeping, firearm acquisition/disposition in your bound books. Additionally brush up on not so normal transfer scenarios i.e. resident alien, non-immigrant alien, armed forces purchasers not living at "home", etc...
Sorry I don't know where to point you to as a resource to learn these things, or brush up on them other than maybe the NSSF people. I have been working for FFL's for about 20 years now and know that these things can trip you up and get you into trouble with ATF if not processed by the letter of the law. Also don't get sucked into keeping more records/documents than is required of you as generally it can be used against you in the future. Double/triple check all your paperwork with someone competent you can trust, these things matter. It will keep you plenty busy staying on top of your paperwork and record keeping if you have any kind of volume.

Best wishes!

 

[TOVO]

Home based or a retail store? I ask because home based FFL's are getting very difficult to get. We only got one because we have a detached building we could use as a "store front".

From my experience it is difficult to make any money at it. Now if you want to make a lot of good friends its one of the best things we have every done.

 

[techiej]

*** INSURANCE ***

 

[billdeserthills]

Never forget the easiest & quickest way to make a million dollars as a FFL is to start with 2 million

 

[wired]

Home based FFL's aren't difficult to get at all if you are zoned for dual use. The ATF could care less. I'd be an 02/07 again if Yakima country allowed home base FFL's. They do not. King County no problem.

 

[Who The F R U]

■ Handle local government.
[✓] Zoning confirmation
[ ] Business license
[ ] CLEO copy

In Oregon the State Preemption Clause make's Zoning laws Null and Void.
_____________________________________________________________________
Just don't let the city try to bang you in the rear with a home occupation permit.
******You don't need or have to get one***********
___________________________________________________________________

Once you pick a name you can register with the state online.

I'm pretty sure we gave the local PD a copy when we got printed ?
The chief had to sign the application saying that we gave him a copy.
It's been a while.

 

[CountryGent]

Home based or a retail store? I ask because home based FFL's are getting very difficult to get.

Commercial space in town. In fact, the previous occupant had an FFL, albeit like a decade ago.

I'm going with that address for logistical reasons, though since we don't live in town (zoned farm-forest), in theory we could be home based. But I'd rather keep business separate from home.

*** INSURANCE ***

Thanks. I knew I would miss something.

Never forget the easiest & quickest way to make a million dollars as a FFL is to start with 2 million

I'm under no illusion that it will be a large money maker, but we're planning on doing this for:

• Overhead is already covered, so the only costs will be licensing, etc. and therefore there is at least the possibility of another revenue steam from unused space here.
• To offer muppetry-free FFL transfer in the area. Frankly, most of the licensed shops are difficult to work with, with one exception.
• Offer NFA transfers. If you want anything NFA here, you're looking at a 1—3 three hour round trip. There used to be a mom'n'pop shop that handle them, but they retired, so you need to "go to the city" to handle that. One to the north of us (closest) is so-so. The SOT to the south (farther away) are worse than worthless.

Anywho, the license is good for three years, so I figure that is enough time to decide if the hassle-to-cash ratio is worth it. If not, it can be hung up on renewal time.

■ Handle local government.
[✓] Zoning confirmation
[ ] Business license
[ ] CLEO copy

In Oregon the State Preemption Clause make's Zoning laws Null and Void.
_____________________________________________________________________
Just don't let the city try to bang you in the rear with a home occupation permit.
******You don't need or have to get one***********
___________________________________________________________________

Thanks. Zoning shouldn't be an issue, but it doesn't hurt to check.

 

[808hondacrguy]

Make sure you add LLC to your company name

 

[billdeserthills]

Make sure you add LLC to your company name

If You want to make your gun biz an LLC you need to get that arranged before you mail in the FFL application--The ATF wouldn't let me add the 'LLC' designation afterwards, said I would hafta apply for a new license

 

[Who The F R U]

If You want to make your gun biz an LLC you need to get that arranged before you mail in the FFL application--The ATF wouldn't let me add the 'LLC' designation afterwards, said I would hafta apply for a new license

Yep and you can dump your post Samples without a law letter for bu-ku buck's when you switch over to a LLC.

 

[Sandaholic]

Where are you located (nearest city)? Just wondering what kind of potential customer base you have. Have you seen or heard of the SilencerShop Kiosk? If you would be the only business around that has one of those I could see that being a big plus. The Kiosk makes the NFA process very very simple. And I think the thought of going through said process is what keeps many folks away.

Being able to use the Kiosk ONCE and then order online or over the phone for all future orders is amazing. Well amazing would be the repeal the NFA . I don't think their system can be beat though. If you advertise it to the right folks it could be a great way to pick up customers. No more messing with a bunch of paperwork and running around getting prints every time they purchase an NFA item.