Feasibility of new FFL business in Gallatin / Hartsville / Lebanon area

[wtl]

I'm looking for feedback from folks in my area about whether or not a FFL in Castalian Springs on Hartsville Pike (Hwy 25) between Gallatin and Hartsville Pike would be of any use to you.

 

This would NOT be a gun store. I would do transfers at maybe $20, special orders if I can be competitive with local shops, and maybe the occasional bulk order of items in high demand to resell at attractive pricing locally or on gunbroker.com. If you were interested in a particular item you could contact me and I would see how inexpensively I could get it for you. Or if you had a used item I could try to find a buyer for you, or purchase it myself to resell.

 

I would also potentially become certified to offer the HCP class and build a range for the shooting portion of the training. I would try to offer a decent price for the class-maybe in the $50 range. I think my unique approach to this would be to purchase 15-20 of the popular carry guns to have on hand so that folks attending the class can actually go hands on with a variety of options if they haven't made a decision on their EDC weapon. If they feel comfortable with one I can offer to sell them one at a (hopefully) decent price. I'd probably try to make at least one of the monthly classes a ladies only class with my wife involved and have a good selection of 380s and 9s that might be of interest to the ladies, so they can perhaps feel more comfortable without having to contend with us ornery males AND have the opportunity to try out a variety of weapons to decide what is most comfortable for them to shoot and carry.

 

So basically I would be looking to become a personal broker and basic fundamentals trainer for people who are new or need their HCP.

 

I would look to become an official vendor here on TGO as well to support the site and hopefully do some advertising.

 

I know it can be tough to make money as an FFL, but luckily I already have a successful business, so I can afford to take a loss if I have to for awhile. I have two primary motivations for doing this:

 

1. Business diversification (my current business is IT/Technology related.)

 

2. I moved to the area in December (purchased a very unique foreclosure home) and there is a 20 acre tract of land that is largely behind my property. The owner of the property is considering building 2-3 duplexes on the land, which would probably impact our property value. I want to purchase the land, but am looking for a way to make it as tax-beneficial as possible, so I'm looking at putting a business on the property. It would be a great place for an outdoor range, but I don't want to be a nuisance, so having HCP classes a couple times a month with the related shooting should work and give me a place to do a little bit of my own shooting at the same time.

 

I'm just beginning to formulate ideas, and I realize I'll need to check with the local gov to make sure I can even do this with the property. I'm just trying to get a feel for whether people in my vicinity that frequent TGO would think this would be of interest to the local community.

 

Thanks for reading!

 

 

[Mike A]

I love small businesses but do take a hard look at the downside. Folks tend to get excited at the prospect of a new business (particularly if they’re passionate about the industry as are most potential small business owners) and don’t always vet the situation sufficiently. Sounds like you don’t expect to open up and start printing money and you have other streams of income. Those are definitely in your favor.

My threshold question is from where would you draw business? I live and work in Gallatin. I’ll touch on Hartsville and Lebanon but most definitely defer to those with undoubtedly greater knowledge on the situations in those cities.

Hartsville --> There’s a fairly new shop at the corner of Hartsville Pike and 231. There’s a thread on here somewhere. Don’t think they have a range and as such don’t think they’re doing HCP classes.
Lebanon --> I believe there are quite a few shops. I know at least one has an indoor range and I suspect maybe several do. I further suspect that one or more are doing HCP classes.
Gallatin --> Two full service shops with ranges teaching HCP classes. Additionally, there’s a pawn shop here with an indoor range.

I think if you keep your startup expenses low, it may ultimately be like playing friendly low stakes poker. You may lose a little, may win a little and in the long run probably about break even.

My $0.02.

[gregintenn]

There is already an FFL/gunstore in the Castalian Springs/ Bethpage area. I've never been there and can't comment on it.

 

There was a gun store at the intersection of 231 and hwy 25. It doesn't appear to be open any longer. I did visit it once, and can say I'm not surprised to see it close.

 

Other than in Gallatin, I am not aware of any other outdoor public range in the area.

[Grunt67]

 

 

There was a gun store at the intersection of 231 and hwy 25. It doesn't appear to be open any longer. I did visit it once, and can say I'm not surprised to see it close.

 

Other than in Gallatin, I am not aware of any other outdoor public range in the area. 

 

Are you talking about the one in the same bldg. as Shadow Warriors?

[wileecoyote]

Friend of mine did exactly what you propose to do for more than 12 years, minus the range. He was in North Lebanon / Hartsville area. He just recently turned in his license for personal reasons. I have a lot I could share with you, more than I could post publicly. A few key points: If teaching HCP your range and classroom facilities need to be approved by the state, including handicap accessibility, safety requirements, and insurance. This is not so easy or cheap to do. Noise violations can also be a problem down the road depending on how your current and future neighbors react. As a small business your volume (firearms sales) will be pretty limited thus your discounts from distributors will be small, and you will be near last in line to get prime inventory. Special orders and small inventory orders are rarely price competitive with the big online dealers or big box stores, and even when you do make a profit it will be marginal. So you would need to go high volume to make it financially viable long term, or be content to make minimal profit more like a hobby. Training is much more profitable but you really need a centrally located classroom, preferably in town near a major exit to draw enough business for steady income. Not trying to discourage you, I think the idea is great and I have often thought of doing the same for early retirement, but for me it would be about enjoyment and not income or investment. If you want to make a lot and survive long term then you need a pretty practical growth plan for all facets of the business, and enough investment to see you through the first few years which will likely be pretty lean.

[gregintenn]

 

Are you talking about the one in the same bldg. as Shadow Warriors?

That's the one. Is it still open? It doesn't appear to be.

[Grunt67]

That's the one. Is it still open? It doesn't appear to be.

 

 I don't know Greg, only been in there once, quite a while ago, didn't find much then. No much traffic for sure.

 Always thought it was too much out in the middle of space to do much business.

[Grunt67]

  To answer the OP question, I live in that area, and it's rural. If you can find a niche that isn't covered in Gallatin / Lebanon,

 and advertise heavily, it might work. There is a wealth of HCP classes around. No idea on zoning, but would be the

 first place I'd visit.

   Do some homework & see what it looks like from there.

 Good luck..........

[Hershmeister]

[quote name="Grunt67" post="1129526" timestamp="1395717462"] I don't know Greg, only been in there once, quite a while ago, didn't find much then. No much traffic for sure. Always thought it was too much out in the middle of space to do much business.[/quote] The gunshop is closed now. If your goal is to leverage the property purchase as a tax write off for business losses then you'll do just fine. Just my humble opinion, but that area is not likely going to have enough paying customers to make a viable business. YMMV

[wtl]

Thanks for all the feedback! It won't need to be profitable anytime in the next few years--just looking for a good second business that might work in this location and create a tax advantage. There really isn't much that can be done in this location business-wise but I figured if I can attract some folks with low transfer fees and provide a personal touch, it might at least be a good way to meet local gun enthusiasts and folks looking to get into CCW. The HCP training could be iffy I agree--I've seen a sign at one of the Gallatin shops offering free HCP classes (I'm guessing it's with the purchase of a firearm?). But, if there is a lack of HCP classes in Hartsville and on into Trousdale county, that could be advantageous. At any rate I appreciate the responses and will continue my research...

[wipfel]

It might be me, but $20 doesn't seem like a low fee.

[wtl]

[quote name="wipfel" post="1130641" timestamp="1395934536"]It might be me, but $20 doesn't seem like a low fee.[/quote] Really? I've paid $30 and have seen people say they'd be glad to do business with shops charging $25. Other than anecdotally I haven't seriously researched transfer fees in this area yet. What do you pay?