FFL questions

[61482zane]

Who can get an ffl and how do u get one and how much does it cost. What can u do with one?

 

[phylodog]

You have to operate a for profit business which requires a FFL before they will approve your request. You also must comply with zoning laws for the location you wish to have the FFL out of. You can not get an FFL to simpy add firearms to your personal collection or to sell at gun shows.

A lot of people are under the mistaken belief that having an FFL means you can buy new guns cheap. Unfortunately this isn't the case. The money you would save buying new guns for yourself is nowhere near being worth the hassle. There isn't a large markup on new firearms. I've had my FFL for almost three years now and I still don't buy new guns.

 

[CarmelHP]

There is a Collector's FFL for Curios and Relics (on C&R list, or 50 years old or older). No business needed, but you cannot buy newly manufactured firearms. A requirement of the C&R FFL is that you not be in the gun business and be buying to enhance your collection.

Go here: FFL FAQ

 

[Scutter01]

There is a Collector's FFL for Curios and Relics (on C&R list, or 50 years old or older). No business needed, but you cannot buy newly manufactured firearms. A requirement of the C&R FFL is that you not be in the gun business and be buying to enhance your collection.

Go here: FFL FAQ

Just to clarify for the OP, you CAN buy newly manufactured firearms, just not using your C&R FFL. You have to buy them the normal way.

 

[melensdad]

A lot of people are under the mistaken belief that having an FFL means you can buy new guns cheap. Unfortunately this isn't the case. The money you would save buying new guns for yourself is nowhere near being worth the hassle. There isn't a large markup on new firearms.

One of my dealers allows me to log into his wholesalers websites and look at inventory and costs. It is pretty amazing that the markup on guns is SO LOW. I think a lot of people think that dealers mark guns up a lot, and may make $100 or more per gun. That is just not so. A dealer may only make $30 to $50 on a $500 to $800 handgun. For that he has to keep all sorts of records, do the transfer, fund the inventory that may not sell, pay the rent on his building, pay for his staff, utilities, taxes, etc. Not to mention pay for the licenses required by the city, state, in addition to paying for the FFL license.

 

[AFA1CY]

I think a lot of people think that dealers mark guns up a lot, and may make $100 or more per gun.

Ahem, ahem, (in a loud whisper) Don's guns.

 

[Lakefield22]

Yeah, FFL is not the license to get if you just want to play with guns and increase your own collection. ATF considers it a business license and expects that you operate as such. They are aware that a lot of people just run small businesses and mostly sell to friends and buy for themselves. Generally, I think a lot of the regional people (ATF) turn a blind eye to this unless you get really blatant with the kitchen table dealing.

If you are a large scale distributor buying direct from the factory you can get slightly better priceing.

Also, some manufacturers allow their employees and stragic partners to buy a limited number of guns per year at factory cost. Those prices are a little more amazing to see, especially polymer guns.

 

[Michiana]

FFL is not for buying personal guns

I have had a FFL from 1997-2002 and now from Oct. 1008 to present and trust me you will not get rich doing it part time. It costs around $300 in start up costs and you have to devote about on the average a hour per transaction not counting staying at home waiting for the UPS to deliver a firearm. I get $20 for a transfer and after paying income tax on that money I end up with about $15. I have to collect state sales tax and keep accurate records of all purchases. I have to make sure my bound book is keep updated and accurate.

90% of my business is handling transfers for customers who buy on the auction sites and the guns I do sell I make an average of an extra $20-30 over the $20 I would get had I just did a transfer. I do this because I am retired and have time on my hands and enjoy firearms. If you are wanting a FFL to get "dealer prices" for personal firearms you will be very disappointed and are better off buying at established dealers and have a local FFL handle the transfers.

If the ATF find out you are only using your license for purchasing personal firearms they will pull it.