Any one heard of this

[Guest Jvanhoosen]

I was out shopping for a new gun today and happend to walk into the lebanon gun shop.  They have a no regrets policy on buying a gun.  I wanted to know if anyone else has heard of this.  Basically what the salesman said is that if you buy a gun and dont like it you can take it back and get store credit.  Anyone else heard of this?

[sigmtnman]

Never.  Once it has been transferred it becomes a used gun.  Wonder how long that will last?

[2.ooohhh]

Haven't seen it before but that would certainly be worth enough to get me to consider buying more guns locally vs online even at a slightly higher price.

Edited April 8, 2014 by 2.ooohhh

[hkusp40cal]

When I lived in NH a shop did that as well.  Not sure how they are doing it, but the shop in NH had a 3 day no hassle return for credit.  However the return credit was for 80-85% of the value and then the gun was sold as used.  Not a bad deal if you hate the pistol after you shoot it though.

Edited April 8, 2014 by hkusp40cal

[Trekbike]

 salesman said is that if you buy a gun and dont like it you can take it back and get store credit.  Anyone else heard of this?

 

Did he say it was for a full credit?   What is the time period of owning the gun is the credit allowed?  I have to believe it's only for a day or so.  Created for cases when the wife pitches a fit that the husband brought another gun home.   :bat:

Edited April 8, 2014 by Trekbike

[Guest semiautots]

Did he say it was for a full credit?   What is the time period of owning the gun is the credit allowed?  I have to believe it's only for a day or so.  Created for cases when the wife pitches a fit that the husband brought another gun home.   :bat:

 

Man, I don't tell my wife.

[E4 No More]

I wish On Target had this. I bought my wife a .22 Taurus revolver there and then took her onto their range to get her used to it. She could hardly pull the trigger on it. On Target said sorry for your troubles. And this is why I won't buy at Outdoor World who keep trigger locks on their weapons and won't take them off to test the trigger pull.

[Guest Jvanhoosen]

I will stop back by and get more details and post them as soon as I get a chance

[hipower]

Got an email from them last week about this. "30 Day No Regrets Policy" is how it's stated. Full amount store credit for returns in "like new" condition. But can be shot.

 

Only fear I see is the Like new" condition and who and how that is determined: but if you can shoot it first and then bring it back if not satisified for any reason...well that could get them some additional business.

 

Take it for what it's worth. Check into it and see.

[A.J. Holst]

Man, I don't tell my wife.

 

A gunner's greatest fear - when he dies, his wife sells his guns for what she thinks he paid for them!

 

(adapted from the fisherman's greatest fear)

[Guest semiautots]

A gunner's greatest fear - when he dies, his wife sells his guns for what she thinks he paid for them!

 

(adapted from the fisherman's greatest fear)

 

I married a C.P.A. 

[Guest Jvanhoosen]

Ok so back at the Lebanon gun shop and here is what the policy says
"When you purchase any new in stock gun we guarantee your satisfaction. Use it for up to 30 days and if for any reason you are unhappy return it and receive a store credit for the Full purchase price. Must me in still as new condition no damage or modified or misused and have all boxes and paperwork as well as accessories." The sales man said the will sell the returned guns as used guns not new.

[Mike A]

I’ve never worked in the industry but I think this could work.

 

The math:  I think the keys would be making sure the returned firearms (of which I suspect there would be few) are accepted back in as new condition and the fact that you’d be offering store credit as opposed to a cash refund.  My understanding is that mark up on firearms is probably closer to 20% but I’m gonna say 25% just to make the math easier.  You sell a $500 gun (in which you have $400) and it is returned in as new condition.  You sell that gun for $450 for a $50 profit.  Whatever happy customer purchases with his store credit will have your profit margin built in.  Thus, why store credit is one of the keys.  I understand that you’re ultimately accepting a lower profit margin on that gun but would suggest that you may actually improve your bottom line.  A friend of mine is one of the best retail sales people I know.  He is absolutely as honest as they come but he understands that if you are dealing with a replaceable good sacrificing profit margin for bottom line often pays off long term.  My friend is one of the best I’ve seen at making sure that customers get to spend all the money they want.  If a customer comes in with $100 to spend and he only has $40 worth of that product (in which my friend has $20 being in a keystone markup business) my friend will offer to sell them $120 worth of a comparable product for $100.  He’s willing to do this because he understands that $40 minus $20 equals $20 and $100 minus $60 equals $40 and $40 is more than $20.

 

The psychology:  I still believe the percentage of returns would be low in this scenario and I think the psychological edge of such a policy might well outweigh the reduced profit margin on the returned items.  Here’s the scenario:  potential gun buyer is on the fence on plopping down the hard earned Benjamins for a gun he’s not quite sure he’ll like.  Maybe this generous return policy pushes him over the edge.  From the few responses I read before composing this missive it appeared there might be some interest from those assembled here in doing business with an establishment with such a policy.  Potential boost in customer loyalty methinks.  Some might even being willing to pay at least some small premium to do business with such an establishment.

 

My $0.02.  

[Guest copperhead_1911]

When I lived in NH a shop did that as well.  Not sure how they are doing it, but the shop in NH had a 3 day no hassle return for credit.  However the return credit was for 80-85% of the value and then the gun was sold as used.  Not a bad deal if you hate the pistol after you shoot it though.

I was figuring that most places would not give 100% on the store credit.

[Rowdy]

I married a C.P.A.

You're dead... :) Edited April 9, 2014 by Rowdy

[piercedan]

Got an email from them about this. They are always kind and helpful when I've been. Good store.

[Dustbuster]

Ok so back at the Lebanon gun shop and here is what the policy says
"When you purchase any new in stock gun we guarantee your satisfaction. Use it for up to 30 days and if for any reason you are unhappy return it and receive a store credit for the Full purchase price. Must me in still as new condition no damage or modified or misused and have all boxes and paperwork as well as accessories." The sales man said the will sell the returned guns as used guns not new.

Satisfaction guaranteed at a gun shop, gotta love it! Glad one shop has some pride. I bought a 1911 from them a couple of years ago. Smooth deal


Sent from my iPhone using Tapatalk 2 of course it ate my spelling.

[Hershmeister]

Smart marketing - they're customer segment is largely new owners, so its a perfect way to eliminate a sales objection. And with the store credit requirement the business is safe from any shenanigans by bad faith customers

[bersaguy]

A gunner's greatest fear - when he dies, his wife sells his guns for what she thinks he paid for them!

 

(adapted from the fisherman's greatest fear)

 

I had to laugh when I read this......In all honesty and not being married but a widower I would have had little fear if my wife were still alive selling my guns for what I paid for them. My wife was very smart when it came to money and you can bet she would have been on line looking up and researching the value of the guns before she put them up for sale along with the ammo. She would not have lost money on them. Now with that said, I would have to say that if I am dead in all honesty I would not really care I don't think if she gave them away................jmho

[JAB]

I’ve never worked in the industry but I think this could work.

 

The math:  I think the keys would be making sure the returned firearms (of which I suspect there would be few) are accepted back in as new condition and the fact that you’d be offering store credit as opposed to a cash refund.  My understanding is that mark up on firearms is probably closer to 20% but I’m gonna say 25% just to make the math easier.  You sell a $500 gun (in which you have $400) and it is returned in as new condition.  You sell that gun for $450 for a $50 profit.  Whatever happy customer purchases with his store credit will have your profit margin built in.  Thus, why store credit is one of the keys.  I understand that you’re ultimately accepting a lower profit margin on that gun but would suggest that you may actually improve your bottom line.  A friend of mine is one of the best retail sales people I know.  He is absolutely as honest as they come but he understands that if you are dealing with a replaceable good sacrificing profit margin for bottom line often pays off long term.  My friend is one of the best I’ve seen at making sure that customers get to spend all the money they want.  If a customer comes in with $100 to spend and he only has $40 worth of that product (in which my friend has $20 being in a keystone markup business) my friend will offer to sell them $120 worth of a comparable product for $100.  He’s willing to do this because he understands that $40 minus $20 equals $20 and $100 minus $60 equals $40 and $40 is more than $20.

 

The psychology:  I still believe the percentage of returns would be low in this scenario and I think the psychological edge of such a policy might well outweigh the reduced profit margin on the returned items.  Here’s the scenario:  potential gun buyer is on the fence on plopping down the hard earned Benjamins for a gun he’s not quite sure he’ll like.  Maybe this generous return policy pushes him over the edge.  From the few responses I read before composing this missive it appeared there might be some interest from those assembled here in doing business with an establishment with such a policy.  Potential boost in customer loyalty methinks.  Some might even being willing to pay at least some small premium to do business with such an establishment.

 

My $0.02.  

 

I was thinking along the same lines.  From what I have seen, most gun shops don't price slightly used/as new guns that much lower than their new guns.  As you point out, even the 'used' price will likely be more than the shop has in the gun so there is still profit to be made from the gun and, also as you pointed out, they will still be keeping the profit from the original sale (by offering store credit rather than a cash refund.)

 

Sounds like a good deal for both the dealer and their potential customers, to me.  If I lived closer to the area such a policy would likely at least get me in the door to browse their merchandise if nothing else.