Thinking about opening a gun store in the Jackson, TN area

[2000silverz28]

I've been throwing around the idea of opening a gun shop in the Jackson area. I got laid off from my job a couple weeks ago. I've always wanted my own business and a gun shop seems like something I would enjoy.

How many people are there on here within driving distance of jackson that would be interested in having a "real" gun store in this area? Do you think it would be a good investment in this area?

I'm just in the thinking about it mode right now. I'd love to do it but I have alot of research to do before I even begin to start it. I'm just looking for opinions I guess you could say. Let me know what you think.

[Guest gcrookston]

Most new businesses will fail within the first 5 years. Most are undercapitalized. There are already several gun stores in the Jackson area. Here are some initial questions you will have to have answered before you dive in:

1. Can the population support your enterprise?

2. What will set you apart from the present competition in your market?

3. Will you be adequately capitalized?

4. Are you prepared to meet the licensing requirements of the City, State and Fed?

5. Depending on the type of store you are looking at, vendor and distributor agreements may be required for new product you may carry. Can you get them?

I have always said my long term goal is to open a gunstore. Here are the requirements for my personal business plan (yours will differ):

Capital Required: $7,000,000.

for:

Location: $500,000

Inventory: $2,500,000

Lics&Inc: $ 60,000 (annually)

The balance to live comfortably for 20 years or so as I slowly go broke...

I recommend the first place you start is with the gun stores in your area. Find out what makes them successful and find out where they fall short. Next I would talk with some store owners (there are several on this forum), and find out what they did right and what they would do differently.

The only failure is one who never tries. Good luck!

Edited February 1, 2010 by gcrookston

[Guest clownsdd]

Unless you have the $$$ to live on for at least 5yrs, forget it.

[Warbird]

A lot of gun shops failed last year. And that in what many would consider extraordinary times. And I am not referring to new sop either. Many of them have been around for a long time. Part of their failure may indeed be because they have been around a long time, too long, so long with an obstinacy that would survive and not have to sell tings they didn't want to sell.

Look at who is succeeding, how they are doing it and what they offer besides just selling guns.

I will also say this, gun sales have dropped considerably in the last few months. Things are leveling off. This could change one way or the other at a moment's notice, it is always hard to say. I would say the hardest thing to do is have adequate funding to have inventory. you ay not be able to take any money from the business for some time so how will you survive until then. Just some things to think about. GCrookston I think covered it well.

[Guest yzfMrLee]

I'm in the Jackson area, and I'd have to say more places to shop around would be good. Not sure on whether Jackson can support another though. I think the advice to check out what the shops around here to see what has worked and what hasn't is very good advice. Just remember that debt = risk and don't try to rush things.

Also like others have said, can't succeed if you don't try.

[2000silverz28]

Thanks for all the replies. I know I'll have to front alot of money. Inventory will be on the smaller side at first I'm sure until you can figure out what sells best. I'm not looking at buying a building. A lease would be best at first. I say start small and then expand if it becomes successful.

Jackson doesn't really have a dedicated gun shop. Parkway guns is also a pawn shop and they don't keep alot of inventory. You have several other smaller pawn shops that also carry guns.

Like I said I'm just throwing around the idea. Just looking for opinions right now.

[Guest Bronker]

What about the Great Outdoor Store? Is it still around?

[Guest mwentllc]

You will also have to compete Gander Mountain. I am also a gun dealer, and if you want to talk sometime, I will be happy to tell you what I have learned since I started my business just a year ago.

[2000silverz28]

I forgot about great outdoor store. I don't know how their prices are but I know gander mountain is $50-$100 overpriced. I don't see how they ever sell any guns.

[2000silverz28]

You will also have to compete Gander Mountain. I am also a gun dealer, and if you want to talk sometime, I will be happy to tell you what I have learned since I started my business just a year ago.

Where is your store? If its not to far I may drop by one day. I'd love to talk to someone thats got experience.

[Guest Sgt. Joe]

First let me say that I have only been into handguns and such for a little over a year. But I am in fact addicted forever and WILL be needing more guns....

Jackson has a Gander Mountain and a Great Outdoors Store as you probably know.

MY store is the GOS and the reason isnt because it is very close and has an indoor range but rather because of their CUSTOMER SERVICE.

I have been in the Gander Mountain at least a dozen times and have been completely ignored every single time! once with the wife when she wanted to handle some guns. We were ignored for over 30 mins while three sat behind the counter yapping. The place was not busy.

The GOS was just the opposite, they treat me like a king and have from day one. They also have an indoor range. Furthermore every pistol I have compared is anywhere from 100 to 150 cheaper at the GOS. They are also always 100 or so less than MSRP.

For an example I bought my Walther PPS-9 for 599.00 at GOS, a week or so later Gander got a few and they were 759.00 !

Honestly I dont see how the GM stays in business, I am kinda ugly but my money isnt:rolleyes:

What I see the "real need" for in Jackson is another indoor or preferably an indoor/outdoor range. That and even more so a place with a good gunsmith or two in the house!

The closest Smith I have found is in Humboldt and they are super busy and I was told to leave my gun for up to 3-4 weeks just to have about a half of an inch of some edges just slightly rounded off. I could be out of line but I think that is far too long for the small amount of work that I want done.

A good Smith is a definite NEED here, and I think you would do well even if that was your main effort as you could do with less inventory on hand while still having the ability to special order for folks. And of course a range and or gunsmith is going to draw more than just another gun store. As sales calm down it is also two additional means of income, both of which should stay constant.

Remember you will competing with three national chains as there is also a Dicks Sporting goods here that I thought was a local business but was told it was a chain, but none of them have have any smiths.

I just noticed a new store in south Jackson the other day, Direct Guns or something like that. It is not a big place from what I saw driving by and I have yet to stop and check them out. A friend said he thought there was also a new shop on Vann drive but I can not confirm that is the case or not.

There are also a couple pawn shops who deal with guns but I dont know how many and have not bothered to check them out because as I said Customer Service keeps me happy where I am. I will buy some things there that I know I could get cheaper elsewhere just because of that customer service.

As others have said having the bucks to survive the hard times is very important and customer service is also a huge deal in all business' and I would think even more so in the gun business with all the steady flow of all the new folks.

I have had my own painting and sheetrock business and know how important customer service and funds for hard/slow times really is.

I am perfectly happy with GOS but will check Yes on your survey and not only that I would volunteer time to help you get started.

Do think seriously about the smith part because I really believe that would be a solid ticket to success here in Lil Memphis. That will also be the main reason I will stop and check out the new place we saw, to see if they have a smith there or not.

Good luck to ya and I'll help ya all I can should you chose to make such a venture.

[jeffmem]

How about opening an indoor range and offering training classes for concealed carry, personal defense, etc? Sponsor a IDPA/IPSC team or bullseye team.

I assume that range insurance can be arranged through the NRA but I suspect it will be quite a bit of money .. also there are some environment considerations (e.g. lead exposure).

The ranges around here seemed to be packed every time I visit.

[Zulu Cowboy]

You could always augment your sales, by selling online.

One plus being, there would be minimal overhead...

Zulu Cowboy

[Erik88]

I'm currently a business major at the University of Tennessee. One of the main concepts they push here is a differentiation strategy. What will your gun store offer or do that differentiates you from the other stores? Lower prices, better customer service, larger inventory etc etc... As I said in a previous thread the main thing I have noticed about gun stores is that most of the ones around Knoxville(especially Cold Creek:poop:) are rude and not helpful.

If you could find a way to create an environment where you treat everyone with a warm greeting and had competitive pricing I could see a successful business. HOWEVER, I am not familiar with the Jackson area and therefore I cannot comment as to whether you would succeed in that area... But here in Knoxville, I think it could work...... hope this helps

[Erik88]

I also wanted to mention that you have to first find a way to get people in the door! That will be one of the hardest parts because people are always weary of the unknown. This will be a HUUUGE investment.. But as the person above said.... CUSTOMER SERVICE!!!! Another big concept they teach us at UT is "LIFETIME VALUE OF A CUSTOMER"....... Lets say you piss off a person by accident.. He leaves and you lose his business... You're thinking, ok no big deal I lost a customer... WRONG!!! You not only lost his business for life, BUT YOU LOST ALL HIS FRIENDS/ COWORKERS/FAMILY/ ETC that he complains to! just my .02

[Alpha7]

I'm currently a business major at the University of Tennessee. One of the main concepts they push here is a differentiation strategy. What will your gun store offer or do that differentiates you from the other stores? Lower prices, better customer service, larger inventory etc etc... As I said in a previous thread the main thing I have noticed about gun stores is that most of the ones around Knoxville(especially Cold Creek:poop:) are rude and not helpful.

If you could find a way to create an environment where you treat everyone with a warm greeting and had competitive pricing I could see a successful business. HOWEVER, I am not familiar with the Jackson area and therefore I cannot comment as to whether you would succeed in that area... But here in Knoxville, I think it could work...... hope this helps

Not to go "off topic" but the people at coal creek have been nothing but nice to me from day one and always are when I am in there. As i leave the range they make small talk and ask he "how did ya shoot"? Maybe it is just me but I have never experienced a rude person at coal creek.

[Erik88]

Not to go "off topic" but the people at coal creek have been nothing but nice to me from day one and always are when I am in there. As i leave the range they make small talk and ask he "how did ya shoot"? Maybe it is just me but I have never experienced a rude person at coal creek.

You sir are in the minority... Most of the ppl I have talked to have had the same experiences as I have..... but you we both are off topic right now so lets move forward....

[Guest Crunchman]

I like the idea of more stores. It keeps the prices at a reasonable level. However, you do have several already here in Jackson. One just opened last week on S. Highland, Direct Hit.

In Jackson or in the area:

McClanahans - Humboldt

GOS - Jackson

Gander Mtn. - Jackson

Parkway - Jackson

Roy's Country Store - Jackson

Krasners - Jackson

Pioneer Outdoors - Bolivar

Robertson's Trading Post - Henderson

Doing a YellowPages.com search for the area, it comes up with 50 stores and gunsmiths. I go to almost every one of these in my work with the FNRA and they run the gamut of tiny Mom and Pops to the corporates. One thing that I do notice is that they all have their own loyal following. You have to have the reserve capital to stay in business while you build up that customer base.

[Guest m14man]

First let me say that I have only been into handguns and such for a little over a year. But I am in fact addicted forever and WILL be needing more guns....

Jackson has a Gander Mountain and a Great Outdoors Store as you probably know.

MY store is the GOS and the reason isnt because it is very close and has an indoor range but rather because of their CUSTOMER SERVICE.

I have been in the Gander Mountain at least a dozen times and have been completely ignored every single time! once with the wife when she wanted to handle some guns. We were ignored for over 30 mins while three sat behind the counter yapping. The place was not busy.

The GOS was just the opposite, they treat me like a king and have from day one. They also have an indoor range. Furthermore every pistol I have compared is anywhere from 100 to 150 cheaper at the GOS. They are also always 100 or so less than MSRP.

For an example I bought my Walther PPS-9 for 599.00 at GOS, a week or so later Gander got a few and they were 759.00 !

Honestly I dont see how the GM stays in business, I am kinda ugly but my money isnt:rolleyes:

What I see the "real need" for in Jackson is another indoor or preferably an indoor/outdoor range. That and even more so a place with a good gunsmith or two in the house!

The closest Smith I have found is in Humboldt and they are super busy and I was told to leave my gun for up to 3-4 weeks just to have about a half of an inch of some edges just slightly rounded off. I could be out of line but I think that is far too long for the small amount of work that I want done.

A good Smith is a definite NEED here, and I think you would do well even if that was your main effort as you could do with less inventory on hand while still having the ability to special order for folks. And of course a range and or gunsmith is going to draw more than just another gun store. As sales calm down it is also two additional means of income, both of which should stay constant.

Remember you will competing with three national chains as there is also a Dicks Sporting goods here that I thought was a local business but was told it was a chain, but none of them have have any smiths.

I just noticed a new store in south Jackson the other day, Direct Guns or something like that. It is not a big place from what I saw driving by and I have yet to stop and check them out. A friend said he thought there was also a new shop on Vann drive but I can not confirm that is the case or not.

There are also a couple pawn shops who deal with guns but I dont know how many and have not bothered to check them out because as I said Customer Service keeps me happy where I am. I will buy some things there that I know I could get cheaper elsewhere just because of that customer service.

As others have said having the bucks to survive the hard times is very important and customer service is also a huge deal in all business' and I would think even more so in the gun business with all the steady flow of all the new folks.

I have had my own painting and sheetrock business and know how important customer service and funds for hard/slow times really is.

I am perfectly happy with GOS but will check Yes on your survey and not only that I would volunteer time to help you get started.

Do think seriously about the smith part because I really believe that would be a solid ticket to success here in Lil Memphis. That will also be the main reason I will stop and check out the new place we saw, to see if they have a smith there or not.

Good luck to ya and I'll help ya all I can should you chose to make such a venture.

actually gander mountain has a good gun smith, his name is johnny mosely he use to have a shop in mckenzie, have no idea what his rate is, and yes whmc in humboldt is very busy also high in price like gander, they are a browning warranty smith for this region.

to the original op, you will also have to compete with abernathys in union city. they have a huge selection and the backing of tootie abernathy who owns a harley-davidson,yamaha,suzuki, largest volume sales of polaris and honda atv, and bikes. good luck to ya.

[Jax970]

I keep hearing about a new gun shop opening up any day now in Jackson. Name is supposed to be "Direct Hit" and located on S. Highland near Walgreen's. Anyone know anything about it?

Jackson has lost at least one gun store this last year and the sporting goods stores are on the high side. I would gladly welcome a REAL gun shop. I would like one that is competetive on priceing, has good service and is friendly. I don't know what it is, but many gunshops are unfriendly.

[Volzfan]

I have a question about the gun business.

I have been in business for myself before and one of the problems that I encountered was different pricing from distributors to the retail outlets. For example, The largest volume store in the Nashville area seems to be G&L. They turn a lot of guns so they would get a better price because of their volume while a new upstart store with limited funds that is just starting out would be sold the same guns at a higher price because they are not a high volume customer to the distributor.

I had this very problem with suppliers in my business. I don't know if this is the same way things work in the gun business or not. If it is then it will be very hard to compete with the higher volume stores.

Just a thought.

A range would be a good idea I believe and also HCP classes. I don't know what the average charge for classes in your area are but be the lowest in the area. Teach classes every week if possible and if you can put 25 people a week thru the class @ $60 ea = $1500 or $6k a month. There would be very little cost if you can teach the class.