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what i need for gunsmith ffl-01 setup

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  • #16
    audiophil2
    Senior Member
    CGN Contributor - Lifetime
    • Jan 2007
    • 8736

    Don't plan small. Plan big because you will get there faster than you know. Gun safe and insurance is not required but not expensive either. My friend started with a metal tool box as his safe in his garage and now does $2m plus in sales each year. $100k in gun insurance is $1000/yr and covers much more than a private collector policy.
    If you are smithing you should just go 07ffl. Even get an sot at the end of June. They pay for themselves quickly.

    Get your resellers license and business banking account(s). Get an ein online from the irs.
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    • #17
      lugnutwrench
      Member
      • Nov 2010
      • 287

      Originally posted by audiophil2
      ... Even get an sot at the end of June. ...
      Why the end of June? Is this because some annual fee gets paid on July 1 or something, and there's no prorating?

      Not to thread hijack, but how hard is it to get an SOT in CA, and what's the benefit of having one? (It's something we haven't researched.) As near as I can tell, you can: 1) sell cool toys to law enforcement; or 2) sell cool toys out of state where you're probably not going to be able to compete with local players. But no NFA for those of us in California who are too stupid to move to a freer state...?
      That's just my $1.05.

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