Well iam taking the plunge

Discussion in 'General Discussion' started by justsomeguy, Sep 9, 2012.

  1. goofy

    goofy Well-Known Member

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    Yea sure:eek:
    Be prepared for ATF,Stupid questions,And lookers who just need a place to hang out and wast your time;)
    As for doing gunsmithing get trained first.A bad job can cost you.
    Scope mounting on some guns IS NOT EASY!!!even tho some people think scope mounting is a breeze it can be a bummer on older guns.
    Keep your books rock solid.
    Check the other gun shops in your area to see what they stock if they have been around for a while they know what sells in your area.
    Be prepared to loose money for a couple of years or intill your name gets out.
    Advertise and get your name out there. This can be tough especially if you are starting in a area that has other gun stores.
    Mike
  2. Double D

    Double D Administrator Staff Member Supporting Member

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    There are people selling guns online for less than I can buy them for. I got to the point that my profits were down to 15.00 or less per gun in order to be competitive. How many guns do you have to sell to make 100.00? Too many. How much cash do you tie up to make that 100.00? Too much. People say, get loading supplys, get clothing, get gunsmithing tools, get archery, and I agree...but the costs are enormous. And there is so much of everything to choose from, where do you start. You may stock all you can afford and it wont be what people are looking for. Thats why I say, I hope you have deep pockets.
  3. JohnHenry

    JohnHenry Well-Known Member

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    Where, in Detroit, are you going to be locating ? The market varies with the location .
    Stop at the gun clubs in the area and introduce yourself .... see if they will allow you to
    post some advertising.

    Best of luck with the new venture .... I'm between Brighton and Howell.
  4. WHSmithIV

    WHSmithIV Well-Known Member

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    Definitely be prepared to lose money for a while. I invested every penny I had when I opened my first computer repair business. After 12 months I was starting to show some profit but my first year showed a net loss. When I closed my company because my wife wanted us to move to the mountains my start-up costs here were much less because I didn't have the initial investment to do again for tools, some of the furniture and some of the basic spare parts. I moved them with us. Even so, this first year here is going to show a net loss. For one thing I have a lower population base around me which equals fewer potential customers by a whopping 60%. I have lower costs also though which balances that out to some degree.
  5. Blackshirts

    Blackshirts Active Member

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    Is it possible to have an indoor range at your location? That will get people in the door.
  6. Double D

    Double D Administrator Staff Member Supporting Member

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    The costs of an indoor range are tremendous and many many laws and regulations are to be followed IF you can even get approval in your area. You better be ready to drop the big bucks and jump thru a bunch of hoops on permitting.
    Last edited: Sep 10, 2012
  7. time2shoot

    time2shoot Active Member

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    All I can say is good luck.
  8. 25yretcoastie

    25yretcoastie New Member

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    Are shops allowed in Detroit?
  9. Mr_Shamrock

    Mr_Shamrock New Member

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    I know it's not the same but I had a motorcycle shop for a while and it did ok, but I had a boat load of cash tied up in inventory that no one ever bought. It is impossible to stock everything people want and 75% of the time I had to order the parts. I usually had the parts the very next day and gave a "discount" on anything that had to be ordered, but I had customers on a daily basis that walked out the door b/c I didn't have what they wanted on the shelf and they didn't want to have to order it. The internet definitely made it very hard to compete. Like already mentioned there were certain items I could buy cheaper on line than from my suppliers. What kept us afloat was the mechanic shop.
    I have no idea of the expense but our local gun shop has a firing range and that keeps the store packed. I know they sell a load of range ammo. They also offer classes - from intro to guns to more advances self defense classes as well as weekly shooting competitions that get people in the door. My experience with buying guns and ammo is - yeah you can get stuff cheaper online, but after you factor in the shipping or the FFL fee's your better off just buying locally most of the time. Gun prices are funny - the new and used prices are so close. There is a pawn shop around here that is consistently $10 cheaper on their used guns vs. the new gun's at the shop about a mile a way. I don't know how they stay in business.
    Good Luck!
  10. 1969SS396

    1969SS396 New Member

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    Did we scare you off?
    Wondered how you are making out with your endeavor?
  11. mjp28

    mjp28 Well-Known Member

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    Wow when you said taking the plunge I thought you were getting married....or enlisting with Uncle Sam. :eek:

    On any business I always recommend do some homework on your field, competition, pricing, inventories all of that -and- the basics of how to run a business.

    One teacher I had wrote a management book based on three very basic principles, works in a broad range of businesses, I never forgot them, "POC":

    PLAN
    ORGANIZE
    CONTROL

    Plan, very briefly get a business plan, get as much information on both your business like the equipment and supplies needed and how to setup and run a successful business. There's a lot of good information online and other places to help here. Put your plan notes down on paper to give you something to work off of and compare with actual results.

    Organize your plan, put the wheels in motion, get things like your basics like advertizing, marketing working. Hire help or go it alone? Supplies, overhead, operating capital (seed money) all of that.

    Control, compare and check your results against your original plans, make necessary changes as you go, tweak things, throw out some things if necessary. Check your finances to see if you're on target. This can be your feedback loop to revise your plan as necessary.

    Just keep thinking "POC" keep it simple but effective.

    I've seen text books and teachers who teach 4, 5, 8, 10, 11 steps to management, I feel you can get all balled up with all of those steps.

    Just a few thoughts, I was in school for a long time and working a lot more, most all in front line or upper management. ;)
    mjp
    Last edited: Oct 12, 2012
  12. justsomeguy

    justsomeguy New Member

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    I did back out your replies are hard to swollow i still feel very confident in my business plan though.I am out of my house right now and just dont enjoy it.I feel if i had a commercial location i could do much better. Ive been cornering the market here on the AR15 business noone around here has yet to to do it and i have but iam losing everyday because people just dont want to knock on my door for a bolt carrier and to be honest i dont want them to!!!! i also want to carry Bows we have no good shops at all just the big box stores and to be perfectly clear they suck people around here go cuz they have to. My main focus was going to be hunting and tactical rifles hand guns are nice to look at but they are like tring to fix someone up on a blind date,evryone likes something different ya know. I am also a NRA certified cpl instructor and basic pistol as well so classes were a must as well as hunter safety for the youth. I wanted to have the DNR machine for all license including orv and snowmobile not a money maker but one more reason to come in the door. The store front i had picked was on a corner lot with a tru value hardware store next door thats been there for 52 years. I had the city close to allowing me to have a " training range " for my CPL student just a ballistic rubber back stop and walls just for " Students " to complete training also doubling as a archery test range for customers wanting to try a new bow out. The fear of failure was more than the vision of sucess though. I will get there as soon as i get my man ballz back lol thanks for your responeses.
  13. justsomeguy

    justsomeguy New Member

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    Detroit Mich
    LOL thats great......Actually no they arent iam looking at the suburb just north of it.
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