New FFL Question (for other FFLs?)

[JayTee_IsMe]

Hey so me and my co-worker have been talking about opening a small gun shop, mainly transfers. I appologize in advance if what I am going to say next makes you think "Oh god I hate noobs" BUT we're not new to guns what-so-ever.

Heres our plan:

He is going to go ahead and apply for his FFL first while we get a little location and safe and all that good stuff. We are reading into all the things we need, he even bought a step by step membership type web deal that I told him he didn't need cause all the resources are available for free on the web.

Anyway my main concern is that I cant get my FFL for a few months, and if he has his, our "shop" would only need one to be operational correct? Or would I just be a paperweight in there until I got my FFL as well? I have a bigger and better plan and I know that by the time he gets all his papers in hand and we get situated I'll be able to start my application process,

But I guess my main question is, since he has the FFL, only he would be able to do the transfer? I wouldn't even be able to start the xsfer? (Wierdly, I've seen a lot of the people in gun stores do transfers)

Thanks!

[tenpercentfirearms]

Are you wanting to be two separate businesses? Why not just be a partnership and apply together. Both of your names will be on the license. I would see no benefit from having two FFLs in the same building.

However, before you do that, have you checked with your local business license agency? If they will not allow a gun shop at your location, you are going to waste $200 apply for an FFL that won't get approved.

Always check local licensing first. Always.

[JayTee_IsMe]

We are not wanting to be two separate FFLs, but I'm military and my wife is soon to be military and I don't want to up and leave and not be able to take it with me if I could do so with a change of address? I am already looking for a spot that will allow a gun shop, and sadly it won't be in the area he want's to be able to commute in lol. But we can't apply together because I'm not 21 for a couple more months and he wants to apply now rather then later.

Are you wanting to be two separate businesses? Why not just be a partnership and apply together. Both of your names will be on the license. I would see no benefit from having two FFLs in the same building.

However, before you do that, have you checked with your local business license agency? If they will not allow a gun shop at your location, you are going to waste $200 apply for an FFL that won't get approved.

Always check local licensing first. Always.

[tenpercentfirearms]

We are not wanting to be two separate FFLs, but I'm military and my wife is soon to be military and I don't want to up and leave and not be able to take it with me if I could do so with a change of address? I am already looking for a spot that will allow a gun shop, and sadly it won't be in the area he want's to be able to commute in lol. But we can't apply together because I'm not 21 for a couple more months and he wants to apply now rather then later.

So what do you bring to the table? It sounds like he is about to start a gun shop without you.

[redking]

He's got MOXY! LOL

[tenpercentfirearms]

I further wonder about the wisdom of having two FFLs at one location. That is two different sets of fees, two different sets of bound books, two different sets of paperwork. Possibly two different sets of tax payments. It just seems like a lot of work and I am not sure what your purpose in having two permits are. If it is so you can bail out on your own in a hurry, then why go into business with another guy to begin with?