Getting Your Own FFL – The Pros and Cons
Articles on the topic of getting your own FFL license have been generating a great deal of discussion, however, there appears to be a great deal of confusion out there with respect to the procedure. Therefore let us begin with replying a few of the FAQs.
Q: Can I get a Federal Firearms License only for personal use?
A: No, the ATF won’t deliver an FFL purely for personal use. Do you have buddies you can assist with FFL transferals from gunbroker.com procurements, and so on? If yes, your FFL would not be only for personal use.
Q: In case I got an FFL, can the ATF turn up day or night and bother me?
A: According to federal law, ATF can just check your place once every year and can only carry out that during your hours. ATF can just check your ATF correspondence for keeping a record. And they can just check FFL firearms stock, not your personal firearms. In some circumstances, deciding on appointment-only for a few hours of operation is likely which would need a phone call prior to a compliance checkup.
Q: Do I require a storefront to obtain an FFL License?
A: Our study indicates that more than 64% of all FFL localities are from residential or home addresses. Federal laws don’t have objections to residential addresses. Massachusetts has a state regulation regarding residential addresses, however, a work-around is there for online-only FFL traders. Home is a practical choice. Nothing has altered since you might have read online from forums, and so on.
Prior to you get into any new venture, it is always beneficial to make a list of pros and cons.
PROS of having a home based FFL
· Reduced cost and overhead to start with. No alarm or safe system is needed.
· Direct contact to manufacturer as well as wholesaler pricing; buying online 24 X 7.
· Hobby income, part time, money wife doesn’t know about.
· A number of part-time niche ventures possible with gunsmithing, Internet sales, auction sales, class 3 silencer sales, hydro-graphics, Internet transfers, Dura coating, etc.
· The market requirement is at all-time record highs; Hillary in the background just helps.
· Help associates get good prices on difficult to get to guns.
· No hassles or background checks to receive guns mailed directly to you.
· You can also work gunshots to gain experience.
· All actions with this new venture are often tax deductible; decrease your taxes.
· Often state gun control regulations don’t apply to FFL holders. No background checks, waiting periods, capable to often buy items forbidden to non-FFLs.
CONS of having a home based FFL
· Security – You require to invite only those you trust and know.
· Correspondence needs to be preserved for 20 years and kept well-organized.
· The renewal fee is $90 every 3 years.
· ATF makes FFL list freely available.
· To make biggest profits, ultimately you will have to concentrate on a niche market or increase volume.
· Sometimes inventory can be difficult to find swiftly because of high demand.
· Delivery to home address can be difficult with a day job. ATF lets alternate mailing addresses and offsite storage, which helps.
· ATF can check your records every year. The industry average for a non-pawnshop home based FFL dealer is just the once every 30 years.
Many FFL holders originally started small, working from home. And there are those expecting that the demand for guns is heading only one way – up. Therefore your very own FFL could be more than simply a huge convenience. It can be a good business opportunity too.